US trailer manufacturer, Wabash National, has announced that 2016 results show the year to be the best in company history, with new records set every year for the last five years.
Net income for the fourth quarter of 2016 was $23.0 million, compared to the fourth quarter of 2015 net income of $33.3 million. For the 12 months ended December 31, 2016, the Company reported net income of $119.4 million compared to net income of $104.3 million for the same 2015 period.
According to Wabash National Chief Executive Officer, Dick Giromini, the company achieved record operating income for a fifth consecutive year, at US$202.5 million (€188.5 million).
“We are extremely pleased with our consolidated results for 2016 as we set new records in gross profit, gross profit margin, operating income and operating margin,” Giromini said in a statement.
“The overall strength in the Company’s operating performance highlights the significant progress made through our growth and diversification initiatives driven by our long-term strategic plan to transform the Company into a diversified industrial manufacturer with a higher growth and margin profile, while leveraging our expertise in lean and six sigma optimisation initiatives.”
Wabash recorded trailer shipments of 60,950 units for 2016, and enters 2017 with a backlog of orders totalling US$802 million (€746.5 million), which is reportedly an increase of 25 per cent compared to the previous quarter.