Wabash National Corporation (WNC) Income Statement
WNC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWNC revenue and net income
Where WNC's revenue goes
2025Each bar shows an amount and its share of revenue. WNC kept 13.7% of revenue as net income.
WNC profit margins
WNC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −20.8% | −14.9% | +0.8% | −2.7% |
| Gross profit | −77.8% | −43.3% | −18.1% | −15.1% |
| Operating income | — | +24.4% | — | +5.9% |
| Net income | — | +23.5% | — | +7.3% |
| EPS (diluted) | −280.8% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WNC quarterly EPS vs estimates
Wabash National beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: October 29, 2026 (estimate $-0.46).
WNC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.54B | $1.95B | $2.54B | $2.50B | $1.80B | $1.48B | $2.32B | $2.27B | $1.77B | $1.85B |
| Cost of revenue | $1.48B | $1.68B | $2.04B | $2.18B | $1.61B | $1.32B | $2.01B | $1.98B | $1.51B | $1.52B |
| Gross profit | $58.7M | $265.1M | $498.2M | $322.7M | $196.5M | $159.8M | $306.4M | $283.7M | $260.9M | $325.5M |
| Research & development | — | — | $7.5M | $5.3M | $13.6M | $21.9M | $19.5M | $8.8M | $3.9M | $6.4M |
| Sales, general & admin | $286.8M | $608.7M | $146.7M | $140.2M | $112.5M | $117.8M | $143.1M | $128.2M | $103.4M | $101.4M |
| Total operating expenses | −$262.3M | $621.2M | $173.2M | $155.4M | $162.9M | $245.4M | $163.6M | $147.6M | $120.5M | $123.0M |
| Operating income | $321.1M | −$356.1M | $311.9M | $166.6M | $33.5M | −$85.6M | $142.8M | $111.0M | $130.8M | $202.5M |
| Interest income | $28.3M | $25.9M | $20.7M | $20.5M | $23.1M | $24.2M | $27.3M | $28.8M | $16.4M | $15.7M |
| Interest expense | $21.3M | $19.8M | $19.9M | $20.5M | $23.1M | $24.2M | $27.3M | $28.8M | $16.4M | $15.7M |
| Income before taxes | $283.2M | −$376.6M | $294.7M | $146.4M | $1.3M | −$109.2M | $117.7M | $96.0M | $122.5M | $185.4M |
| Income taxes | $71.5M | −$93.5M | $62.8M | $33.7M | $126,000 | −$11.8M | $28.2M | $26.6M | $11.1M | $66.0M |
| Net income | $211.5M | −$284.1M | $231.3M | $112.3M | $1.2M | −$97.4M | $89.6M | $69.4M | $111.4M | $119.4M |
| EBITDA | $363.2M | −$299.8M | $311.9M | $214.2M | $73.3M | −$37.0M | $185.1M | $165.4M | $174.0M | $237.8M |
| EPS (diluted) | −$2.17 | $1.20 | $4.81 | $2.27 | $0.56 | $0.15 | $1.63 | $1.44 | $1.38 | $1.85 |
| Gross margin | 3.8% | 13.6% | 19.6% | 12.9% | 10.9% | 10.8% | 13.2% | 12.5% | 14.8% | 17.6% |
| Operating margin | 20.8% | −18.3% | 12.3% | 6.7% | 1.9% | −5.8% | 6.2% | 4.9% | 7.4% | 11.0% |
| Net margin | 13.7% | −14.6% | 9.1% | 4.5% | 0.1% | −6.6% | 3.9% | 3.1% | 6.3% | 6.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $417.2M | $303.2M | $321.5M | $381.6M | $458.8M | $380.9M | $416.8M | $464.0M | $550.6M | $515.3M | $596.1M | $632.8M |
| Cost of revenue | $401.9M | $313.8M | $338.8M | $365.9M | $417.4M | $361.9M | $373.9M | $408.0M | $461.0M | $438.8M | $487.9M | $509.9M |
| Gross profit | $15.3M | −$10.6M | −$17.4M | $15.7M | $41.4M | $19.0M | $43.0M | $56.0M | $89.7M | $76.4M | $108.2M | $122.9M |
| Research & development | — | — | — | — | — | — | $8.6M | — | — | — | $7.5M | — |
| Sales, general & admin | $38.7M | $39.8M | $31.4M | $50.5M | $43.3M | $304.7M | $31.0M | $486.2M | $41.9M | $43.7M | $37.5M | $41.9M |
| Total operating expenses | $40.6M | $41.8M | $29.0M | −$41.9M | $46.2M | −$295.5M | $39.4M | $489.0M | $45.9M | $46.9M | $47.1M | $45.1M |
| Operating income | −$25.3M | −$52.4M | −$46.4M | $57.6M | −$4.8M | $314.6M | $3.6M | −$433.0M | $43.8M | $29.6M | $61.1M | $77.6M |
| Interest income | — | — | $6.7M | $7.2M | $7.5M | $6.9M | $6.5M | $6.6M | — | — | — | $4.9M |
| Interest expense | $6.7M | $6.2M | $15.1M | $26.0M | $5.3M | $5.0M | $4.9M | $5.0M | $4.9M | $5.0M | $4.9M | $4.9M |
| Income before taxes | −$31.5M | −$58.3M | −$65.5M | $51.7M | −$12.3M | $309.3M | −$2.0M | −$438.3M | $39.0M | $24.7M | $57.0M | $73.5M |
| Income taxes | −$8.9M | −$13.0M | −$15.5M | $11.6M | −$2.7M | $78.1M | −$1.3M | −$108.4M | $9.8M | $6.4M | $6.5M | $18.1M |
| Net income | −$22.9M | −$45.2M | −$49.9M | $40.0M | −$9.6M | $230.9M | −$1.0M | −$330.2M | $29.0M | $18.2M | $50.4M | $55.3M |
| EBITDA | −$11.2M | −$37.0M | −$44.9M | $71.7M | $7.1M | $319.3M | $19.5M | −$419.4M | $57.6M | $42.4M | $74.6M | $91.0M |
| EPS (diluted) | −$0.53 | −$1.17 | −$0.93 | −$0.51 | −$0.15 | −$0.58 | −$0.02 | $0.19 | $0.64 | $0.39 | $1.07 | $1.16 |
| Gross margin | 3.7% | −3.5% | −5.4% | 4.1% | 9.0% | 5.0% | 10.3% | 12.1% | 16.3% | 14.8% | 18.2% | 19.4% |
| Operating margin | −6.1% | −17.3% | −14.4% | 15.1% | −1.0% | 82.6% | 0.9% | −93.3% | 7.9% | 5.7% | 10.3% | 12.3% |
| Net margin | −5.5% | −14.9% | −15.5% | 10.5% | −2.1% | 60.6% | −0.2% | −71.2% | 5.3% | 3.5% | 8.5% | 8.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WNC's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WNC financial results
In fiscal year 2025 (ended December 31, 2025), Wabash National reported revenue of $1.5 billion, down 20.8% from the year before. It had net income of $211.5 million, a net profit margin of 13.7%. Diluted earnings per share came to −$2.17. Over five years revenue grew at an average rate of 0.8% a year.
See the WNC stock overview for the latest quote and news, or the WNC chart for price history and technical indicators.
WNC income statement FAQ
What is Wabash National's annual revenue?
Wabash National reported total revenue of $1.5 billion for fiscal year 2025, which ended on December 31, 2025. That was down 20.8% from $1.9 billion the previous year.
Is Wabash National profitable?
Yes. Wabash National reported net income of $211.5 million in fiscal 2025, a net profit margin of 13.7%; its operating margin was 20.8%.
What is Wabash National's gross margin?
Wabash National's gross margin was 3.8% in fiscal 2025: for every $100 of revenue, Wabash National kept $4 after the direct cost of its products and services.
How fast is Wabash National growing?
Revenue grew 0.8% a year on average over the last five fiscal years, from $1.5 billion to $1.5 billion.
What are Wabash National's earnings per share?
Wabash National earned $-2.17 per diluted share in fiscal 2025, compared with $1.20 a year earlier.
When will Wabash National report its next earnings?
Wabash National is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Wabash National's fiscal year end?
Wabash National's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.