Wabash National’s third quarter income declined from $18.4 million in 2102 to $16.2 million in 2013, the US trailer giant announced.
Meanwhile, the Company reported operating income totaling $33.8 million for the third quarter of 2013, compared to operating income of $27.2 million for the third quarter of 2012.
Commercial Trailer Products’ net sales increased $12 million or 4.4 per cent, on 11,700 trailers, or 300 more trailers than the prior year period. According to Wabash, the increase was primarily due to the increase in trailer shipments during the quarter as well as the company’s continued efforts to improve product pricing and recapture lost margins.
“We are extremely pleased with the financial and operating results across all our strategic segments,” said President and CEO, Dick Giromini. “In particular, our Commercial Trailer Products segment reported another strong quarter achieving our highest levels of gross profit and profit margin since the second quarter of 2007.”
He added, “New trailer shipments for the third quarter were approximately 12,600, consistent with our previous guidance of 12,500 to 13,500 trailers. We anticipate continued strong demand for our products as well as an improvement in customer pickups during the fourth quarter with full year trailer shipments forecast to be between 46,000 and 47,000 units.
“As expected, our backlog decreased sequentially but remains at a seasonally healthy level of approximately $563 million as of September 30, 2013. Longer term, we believe the demand environment for trailers remains strong as fleet age, customer profitability, used trailer values, regulatory compliance and access to financing all support continued demand for new trailers.”
Meanwhile, Toledo-based company Ervin Equipment announced it invested in a record 2,000 pre-owned Wabash Duraplate trailers from J.B. Hunt Transport, a leading US provider of logistics management and transportation services.