NEWS

Wabash National Announces Strategic Realignment of Reporting Segments

Friday, Feb 27, 2015

LAFAYETTE, Ind., Feb. 27, 2015 (GLOBE NEWSWIRE) -- Wabash National Corporation (NYSE:WNC), a diversified industrial manufacturer and North America's leading producer of semi-trailers and liquid transportation systems, today announced a realignment of the Company's reporting segments to better leverage operational synergies across our businesses. The realignment includes transitioning Wabash Wood Products, our wood flooring operations, from its current positioning within the Diversified Products Group to inclusion within the Commercial Trailer Products segment. Wabash National will begin reporting this realignment effective with the 2014 Form 10-K filed with the Securities Exchange.

Dick Giromini, president and chief executive officer, stated, "This strategic realignment is being implemented to leverage the critical relationship between our wood flooring operations and our van trailer business, its primary customer, within Commercial Trailer Products. This revised organizational structure will help facilitate optimal decision making and ensure exceptional service for all of our customers."

For additional information on Wabash National's reporting segments see table following this release for unaudited quarterly operating performances as well as the Company's 2014 Form 10-K filed February 27, 2015. 

About Wabash National Corporation

Headquartered in Lafayette, Indiana, Wabash National Corporation (NYSE:WNC) is a diversified industrial manufacturer and North America's leading producer of semi trailers and liquid transportation systems. Established in 1985, the Company specializes in the design and production of dry freight vans, refrigerated vans, platform trailers, liquid tank trailers, intermodal equipment, engineered products, and composite products. Its innovative products are sold under the following brand names: Wabash National®, Transcraft®, Benson®, DuraPlate®, ArcticLite®, Walker Transport, Walker Defense Group, Walker Barrier Systems, Walker Engineered Products, Brenner® Tank, Beall®, Garsite, Progress Tank, TST®, Bulk Tank International and Extract Technology®. To learn more, visit www.wabashnational.com.

Safe Harbor Statement

This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company's current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements. Any forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Readers should review and consider the various disclosures made by the Company in this press release and in the Company's reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

WABASH NATIONAL CORPORATION
SUPPLEMENTAL SEGMENT DISCLOSURES
(Dollars in thousands)
(Unaudited)
                               
  2014 2013 2012
                               
  Twelve Months Ended December 31, 2014 Twelve Months Ended December 31, 2013 Twelve Months Ended December 31, 2012
  Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments  53,550  3,550  3,450  (3,200)  57,350  43,800  3,050  3,000  (3,050)  46,800  43,700  2,000  2,800  (2,900)  45,600
Used Trailer Shipments  3,150  150  1,550  --   4,850  4,300  100  1,300  --   5,700  3,150  100  1,550  --   4,800
                               
Net Sales  $ 1,294,164  $ 466,238  $ 190,080  $ (87,167)  $ 1,863,315  $ 1,082,456  $ 458,653  $ 181,486  $ (86,909)  $ 1,635,686  $ 1,064,591  $ 321,256  $ 157,646  $ (81,639)  $ 1,461,854
                               
Gross Profit  104,800  103,379  20,728  3,727  232,634  84,182  108,627  20,122  2,192  215,123  75,252  72,093  16,757  (279)  163,823
Gross Profit % 8.1% 22.2% 10.9%   12.5% 7.8% 23.7% 11.1%   13.2% 7.1% 22.4% 10.6%   11.2%
                               
Income (Loss) from Operations 81,141 54,879 3,785 (17,419)  122,386  57,543  59,126  2,885  (16,363)  103,191 52,242 44,573 2,922 (29,253)  70,484
Operating Margin 6.3% 11.8% 2.0%   6.6% 5.3% 12.9% 1.6%   6.3% 4.9% 13.9% 1.9%   4.8%
                               
                               
  Three Months Ended March 31, 2014 Three Months Ended March 31, 2013 Three Months Ended March 31, 2012
  Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments  9,250  800  800  (900)  9,950  7,950  650  600  (600)  8,600  10,350  --   350  (450)  10,250
Used Trailer Shipments  1,700  50  400  --   2,150  650  50  300  --   1,000  600  --   400  --   1,000
                               
Net Sales  $ 227,951  $ 108,053  $ 45,636  $ (23,520)  $ 358,120  $ 198,344  $ 101,582  $ 40,843  $ (16,540)  $ 324,229  $ 243,847  $ 20,914  $ 25,120  $ (12,199)  $ 277,682
                               
Gross Profit  14,995  25,754  5,381  542  46,672  12,996  23,949  4,880  361  42,186  12,771  4,632  2,479  (153)  19,729
Gross Profit % 6.6% 23.8% 11.8%   13.0% 6.6% 23.6% 11.9%   13.0% 5.2% 22.1% 9.9%   7.1%
                               
Income (Loss) from Operations 8,760 13,397 1,050 (3,742)  19,465 6,461 11,761 873 (4,239)  14,856 7,146 3,732 (75) (5,354)  5,449
Operating Margin 3.8% 12.4% 2.3%   5.4% 3.3% 11.6% 2.1%   4.6% 2.9% 17.8% -0.3%   2.0%
                               
                               
  Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 Three Months Ended June 30, 2012
  Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments  13,900  850  950  (750)  14,950  10,700  750  850  (900)  11,400  11,750  450  650  (750)  12,100
Used Trailer Shipments  1,150  50  550  --   1,750  750  50  300  --   1,100  650  50  450  --   1,150
                               
Net Sales  $ 335,943  $ 119,344  $ 51,584  $ (20,850)  $ 486,021  $ 266,214  $ 124,416  $ 48,136  $ (25,640)  $ 413,126  $ 281,077  $ 63,470  $ 38,171  $ (20,310)  $ 362,408
                               
Gross Profit  27,963  26,377  5,748  1,525  61,613  23,531  29,434  5,519  369  58,853  20,863  14,852  4,131  (165)  39,681
Gross Profit % 8.3% 22.1% 11.1%   12.7% 8.8% 23.7% 11.5%   14.2% 7.4% 23.4% 10.8%   10.9%
                               
Income (Loss) from Operations 22,022 14,175 1,281 (3,623)  33,855 16,795 17,120 1,261 (4,724)  30,452 15,512 7,737 1,027 (15,708)  8,568
Operating Margin 6.6% 11.9% 2.5%   7.0% 6.3% 13.8% 2.6%   7.4% 5.5% 12.2% 2.7%   2.4%
                               
                               
  Three Months Ended September 30, 2014 Three Months Ended September 30, 2013 Three Months Ended September 30, 2012
  Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments  14,700  850  800  (750)  15,600  11,700  850  800  (750)  12,600  11,400  700  950  (950)  12,100
Used Trailer Shipments  200  50  350  --   600  1,000  50  350  --   1,400  950  50  400  --   1,400
                               
Net Sales  $ 351,951  $ 115,838  $ 45,166  $ (21,258)  $ 491,697  $ 293,679  $ 121,436  $ 45,996  $ (21,134)  $ 439,977  $ 281,431  $ 101,899  $ 47,633  $ (25,046)  $ 405,917
                               
Gross Profit  30,994  24,691  4,896  1,047  61,628  25,428  29,945  5,225  899  61,497  21,777  22,995  5,256  46  50,074
Gross Profit % 8.8% 21.3% 10.8%   12.5% 8.7% 24.7% 11.4%   14.0% 7.7% 22.6% 11.0%   12.3%
                               
Income (Loss) from Operations 25,166 13,071 859 (4,167)  34,929 18,934 17,367 743 (3,214)  33,830 15,906 13,837 1,400 (3,907)  27,236
Operating Margin 7.2% 11.3% 1.9%   7.1% 6.4% 14.3% 1.6%   7.7% 5.7% 13.6% 2.9%   6.7%
                               
                               
  Three Months Ended December 31, 2014 Three Months Ended December 31, 2013 Three Months Ended December 31, 2012
  Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments  15,750  1,050  900  (850)  16,850  13,450  800  750  (800)  14,200  10,200  850  850  (800)  11,100
Used Trailer Shipments  100  50  250  --   400  1,900  50  300  --   2,250  900  --   350  --   1,250
                               
Net Sales  $ 378,319  $ 123,003  $ 47,694  $ (21,539)  $ 527,477  $ 324,219  $ 111,219  $ 46,511  $ (23,595)  $ 458,354  $ 258,236  $ 134,973  $ 46,722  $ (24,084)  $ 415,847
                               
Gross Profit  30,848  26,557  4,703  613  62,721  22,227  25,299  4,498  563  52,587  19,841  29,614  4,891  (7)  54,339
Gross Profit % 8.2% 21.6% 9.9%   11.9% 6.9% 22.7% 9.7%   11.5% 7.7% 21.9% 10.5%   13.1%
                               
Income (Loss) from Operations 25,193 14,236 595 (5,887)  34,137 15,353 12,878 8 (4,186)  24,053 13,678 19,267 570 (4,284)  29,231
Operating Margin 6.7% 11.6% 1.2%   6.5% 4.7% 11.6% 0.0%   5.2% 5.3% 14.3% 1.2%   7.0%
                               
                               
Note: The sum of shipments by quarter may not equal full year shipments due to rounding. 
CONTACT: Media Contact:
         Tom Rodak
         Vice President, Corporate Marketing
         (765) 771-5555
         tom.rodak@wabashnational.com
         
         Investor Relations:
         Mike Pettit
         Vice President, Finance & Investor Relations
         (765) 771-5581
         michael.pettit@wabashnational.com

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