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Wabash National Corp

Wabash National Corp

WNC
$13.44USD↑+7.18%+0.90 today

MARKET CAP

546.7M

P/E (TTM)

—

FWD P/E

24.6x

DAY RANGE

$12 – $13

52W RANGE

$7
$14

AI Summary

Stalk
StalkMedium

WNC is in a Stage 2 advancing uptrend marked by a steep parabolic acceleration, but it is currently extended and overbought on the short term. Execution should be deferred until price pulls back into the rising EMAs to offer a higher-probability entry. Medium-term bias remains bullish under the Stage 2 context, while long-term structural trend is down. Look for a pullback into the 9/21 EMA zone as the optimal engagement area under the Speculative strategy discipline.

  • ↑Backlog rose 19% sequentially to $837M, indicating improving demand.
  • ↑Parts & services segment revenue up 15% sequentially; H2 could exceed H1 by 20%.
  • ↓Adjusted non-GAAP gross margin at -2.6% due to lower production volumes.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Wabash National Corporation (NYSE: WNC) is a prominent player in the transportation equipment sector, focusing on manufacturing semi-trailers, truck bodies, and composite products. The company is strategically positioned to capitalize on market recovery dynamics and is currently addressing operational challenges due to geopolitical factors and shifting market demand. Wabash emphasizes digital enablement and parts services, enhancing operational efficiency and customer relations. Their innovative business model has positioned them to navigate the cyclical nature of the industry effectively while seeking growth in a challenging environment.

Bull says

  • ↑Backlog rose 19% sequentially to $837M, indicating improving demand.
  • ↑Parts & services segment revenue up 15% sequentially; H2 could exceed H1 by 20%.
  • ↑Maintained $310M liquidity buffer, supporting operations amid market headwinds.
  • ↑Digital enablement initiatives enhance efficiency and customer engagement.
  • ↑Analysts upgraded WNC to Buy, with upward earnings revisions driving sentiment.
  • ↑Attractive book-to-price ratio (~2.06) and ~0.24% dividend yield indicate undervaluation.

Bear says

  • ↓Adjusted non-GAAP gross margin at -2.6% due to lower production volumes.
  • ↓Negative Q1 operating cash flow of $33.7M and free cash flow of $37.3M.
  • ↓Weak profitability and earnings yield factors signal inconsistent return generation.
  • ↓Geopolitical uncertainty and easing customer demand may delay recovery.
  • ↓Elevated short interest and negative momentum factors reflect selling pressure.
  • ↓Volatile margins and cash burn risk if production volumes remain low.

Investment themes with WNC

Buybacks↑ +0.48%

Companies repurchasing their own shares

C · JCI · WFC
Infrastructure Development↑ +0.48%

DE · HWM · TT

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-02-2026neutral

Transcript signals

Bull points

  • improving fundamentals that typically precede a broader recovery
  • both our customers and our visibility continues to improve
  • spot rates, contract rates, capacity, and demand all are coming together to drive back to replacement demands for equipment and possibly beyond as fleets began to plan more confidently

Bear points

  • customers continued to act cautiously
  • Order patterns were uneven, asset utilization inconsistent, and capital decisions across the industry were being evaluated carefully
  • geopolitical uncertainty continues to influence customer behavior at present
Read full transcript analysis ›