Wabash National stock weighs a 14 percent backlog gain

Published on 09/29/2026 at 15:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wabash National stock posted USD 417.2 million in Q2 2026 sales, down 9.1 percent year over year. Q3 guidance targets USD 440 million to USD 460 million.

WNC, US97463L1044, Illustration mit AI erstellt.

Wabash National stock (ISIN US97463L1044) was trading at USD 12.63 on the NYSE on September 29, 2026 at 9:37 a.m. ET, while the company reported a USD 956.0 million backlog for Q2. The backlog grew 14 percent quarter over quarter, giving the transportation equipment maker a concrete demand indicator despite a weaker earnings period.

Backlog points to recovery

According to StockTitan, Wabash reported Q2 2026 net sales of USD 417.2 million for the three months ended June 30, 2026, compared with USD 458.8 million in the year-earlier quarter. That equals a 9.1 percent year-over-year decline.

The same September 24, 2026 filing summary said the company recorded a GAAP operating loss of USD 25.3 million, versus operating income of USD 4.8 million in the comparable quarter. Net cash provided by operating activities improved to USD 5.1 million from USD 15.8 million used in Q2 2025, creating a sharper split between weak profitability and better cash generation.

Q3 guidance sets the next test

StockTitan reported that Wabash expects Q3 2026 revenue from USD 440 million to USD 460 million, with a midpoint of USD 450 million. The adjusted diluted EPS outlook is a loss from USD 0.40 to USD 0.50, while management expects continued EPS improvement in Q4 2026.

The outlook places execution at the center of the story. A 14 percent backlog increase supports future revenue visibility, but the Q2 operating loss shows that volume recovery has not yet translated into positive earnings. Wabash also executed USD 150.0 million of convertible senior notes in July, adding financing capacity while the company works through the cycle.

Analyst target stays above market

According to MarketBeat on September 22, 2026, DA Davidson reaffirmed a Buy rating and a USD 20.00 price target. MarketBeat also reported an average analyst target of USD 21.67 and a consensus rating of Hold, showing a divided view despite the higher targets.

Wabash describes its business as a combination of transportation equipment, parts and services, including dry and refrigerated trailers, truck bodies and tank trailers, according to its investor-relations page. The parts and services activities add recurring aftermarket exposure alongside the more cyclical trailer business.

Market value remains compact

Wabash National had a market capitalization of USD 514.5 million on September 29, 2026. Its 52-week range was USD 6.63 to USD 14.47, placing the NYSE quote at USD 12.63 within that span as the company balances backlog growth against current losses.