QUOTE AND NEWS
Business Wire  May 7  Comment 
WNC, a national investor in community renewal and affordable housing projects, in partnership with USA Properties Fund, has announced the grand opening of Vintage at Snowberry Apartment Homes. The 224-unit community will address the extensive need
Benzinga  May 7  Comment 
According to a research report published this morning, Sterne Agee has increased Wabash National's (NYSE: WNC) PT from $16 to $18. In the report, Sterne Agee said, "We are updating our EPS estimates and valuation objective for WNC based on the...
StreetInsider.com  Apr 30  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Wabash+National+Corp.+%28WNC%29+Reports+In-Line+Q1+EPS+of+10cShare/7385421.html for the full story.
Marketwire  Apr 24  Comment 
CADIZ, KY -- (Marketwire) -- 04/24/12 -- Transcraft, a subsidiary of Wabash National Corporation (NYSE: WNC) and a leading producer of platform trailers, together with Kentucky Governor Steve Beshear, today announced the expansion of its Trigg County
Marketwire  Apr 23  Comment 
LAFAYETTE, IN -- (Marketwire) -- 04/23/12 -- Wabash National (NYSE: WNC), America's leading semi trailer manufacturer, today provided a plant tour for manufacturing professionals attending IndustryWeek's Best Plants Conference. Wabash National is one
Market Intelligence Center  Apr 17  Comment 
Wabash National (NYSE: WNC) fell on Tuesday after the company said it expects lower shipments than previously forecast during the first quarter. The company also announced plans to sell up to $150 million of senior convertible notes due 2018. A...
Marketwire  Apr 17  Comment 
LAFAYETTE, IN -- (Marketwire) -- 04/17/12 -- Wabash National (NYSE: WNC), America's leading semi-trailer manufacturer, recently received ISO 9001:2008 registration for its Lafayette, Ind. operations. The ISO 9001:2008 standard, published by the
PR Newswire  Apr 5  Comment 
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, April 5, 2012 /PRNewswire/ - (TSXV: WNC.P) Wand Capital Corporation (the "Corporation"), a capital pool company (as defined in Policy 2.4
PR Newswire  Apr 2  Comment 
ATLANTA, April 2, 2012 /PRNewswire/ -- Siemens Smart Grid division (NYSE: SI) announced today that Wabash Valley Power Association (WVPA) is the first customer to go live with the Siemens Demand Response Management System (DRMS) solution. Siemens
Bulk Transporter  Mar 28  Comment 
Wabash National Corporation officials cite product synergy as a critical benefit of the acquisition of cargo tank builder Walker Group Holdings LLC




 
TOP CONTRIBUTORS

Wabash National Corporation manufactures standard and customized truck trailers and related transportation equipment primarily in North America. The company's two segments are Manufacturing, and Retail and Distribution. The company operates 11 retail branches and sells to industrial size trucking companies. The company is affected by trends in demand for transportation of goods, especially by the Automobile Industry and the Construction Industry

Business Growth

Started in 1985, Wabash has grown immensely to service many large scale trucking companies. Wabash has been very hard hit by the economic slowdown, with negative earnings in both 2008 and 2009.[1]

Trends and Forces

Weak Construction and Automotive Sectors Hurt Demand for Trailer

According to the A.C.T. Research Company, total domestic trailer industry shipments in 2009 were approximately 79,000, or a decline of 45% from the 143,000 trailers shipped in 2008 and a 62% drop from the 213,000 trailers shipped in 2007.[2] Total demand for trailers in 2009 dropped to levels the industry has not seen since 1975 with dry van demand at its lowest levels since 1963.[2] This reflects the weakness of truck freight and the fall in new home construction and the automotive industry. According to the company, the overall trailer market has improved markedly in 2010. Wabash's health is tied to the health of the trailer and freight industry.

Cyclical Nature of Transportation Industry

The trucking industry has experienced three cycles over the last twenty years, roughly consistent with the health of the overall economy. The trailer industry generally precedes overall transportation industry cycles.[3] The most recent cycle peaked in 2006 with overall trucking shipments of 280,000 and bottomed in 2009 with shipments of 79,000 trailers.[2] These long cycles are something investors should be well aware of.

Competition

Wabash, Great Dane LP, and Utility are the top three trailer manufacturers in the United States and account for more than half of U.S. new trailer market share, with approximately 59% in 2010. Wabash has a 21% market share of total shipments in the US. Other competitors include Hyundai Translead and Stoughton.[4]

References

  1. Wabash 10-K 2009
  2. 2.0 2.1 2.2 Wabash, TheStreet Analyst Report, 29 May 2011
  3. Wabash, S&P Analyst Report, 28 May 2011
  4. Wabash 10-K 2009, page 6
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