Wabash reported net sales of $458.8 million for the second quarter of 2025, a 16.7% decrease compared to the same quarter of the previous year. The company generated a consolidated gross profit of $41.4 million, equivalent to 9.0% of sales. GAAP operating loss amounted to $4.8 million, including a $5 million loss related to an appeal bond and contingent interest expense from the legal verdict.
Non-GAAP adjusted operating loss was $(0.1) million for the quarter, and GAAP diluted earnings per share was $(0.23), with non-GAAP adjusted diluted earnings per share at $(0.15). Total company backlog stood at approximately $1.0 billion as of June 30, 2025, as customers continued a wait-and-see approach to capital spending.
For the full year ending December 31, 2025, Wabash further reduced its revenue outlook to approximately $1.6 billion and lowered its non-GAAP adjusted EPS guidance to a range of $(1.30) to $(1.00). Management noted that industry forecasters continued to revise their outlook downward, suggesting 2025 shipment volumes would fall well below basic replacement demand.
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