Wabash National Corporation (NYSE:WNC) Q2 2024 Earnings Conference Call July 24, 2024 12:00 PM ET

Company Participants

Ryan Reed - Vice President, Corporate Development, Investor Relations
Brent Yeagy - President & Chief Executive Officer
Mike Pettit - Chief Financial Officer

Conference Call Participants

Mike Shlisky - D.A. Davidson
Jeff Kauffman - Vertical Research Partners

Operator

Thank you for standing by. I am Arista, and I will be a conference operator today. At this time I would like to welcome everyone to the Wabash Second Quarter 2024 Earnings Call. [Operator Instructions]. I would now like to turn the call over to Mr. Ryan Reed, Vice President Corporate Development Investor Relations. Please go ahead.

Ryan Reed

Thank you, and good morning, everyone. We appreciate you joining us on this call. With me today are Brent Yeagy, President and Chief Executive Officer; and Mike Pettit, Chief Financial Officer.

Before we get started, please note that this call is being recorded. I'd also like to point out that our earnings release, slide presentation supplementing today's call and any non-GAAP reconciliations are available at ir.onewabash.com. Please refer to Slide 2 in our earnings deck for the company's safe harbor disclosure addressing forward-looking statements.

I'll hand it off now to Brent

Brent Yeagy

Thanks, Ryan. Good morning, everyone and thanks for joining us today. Beginning with the second quarter of 2024, while our quarterly revenue was at the lower end of our previous guidance range, our earnings per share surpassed our outlook on stronger margin performance. Our team has continued to execute well during this transitional year for the industry. I'd like to commend our employees for their efforts.

As we acknowledge that 2024 will be a down year for the industry, this underscores the importance of the strategic changes we have made at Wabash over the past several years. By streamlining our organization, optimizing our overall customer portfolio, solidifying our balance sheet and narrowing our strategic focus to the transportation, logistics, and distribution markets. We have positioned the company to pursue higher margin and more resilient revenue opportunities. Nothing speaks to this more than our strategic focus on Parts and Services and the developmental work taking place in 2024. So we are excited about our emerging capability to digitally enable Trailers as a Service through our Wabash marketplace, which provides us the platform to provide additional value-added services to our customers.

In addition, we can now connect all of our customers to our Wabash preferred partner network for maintenance with a full assortment of parts fulfilled by our Wabash Parts joint venture. With digitally linked and Wabash structured services coming together to begin scaling in 2025, Wabash is positioned to continue raising both the floor and the ceiling on financial performance.