Filing Flows › Wabash National (WNC) › Q2 2025
Wabash National (WNC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Wabash National (WNC) reported revenue of $459M for the second quarter 2025 (Q2 2025), -17% from a year earlier and +20% from the quarter before. Operating margin was -1.0%, net loss $9.6M (2.1% of revenue).
Wabash National, Q2 2025: revenue $459M (-17% year over year), operating margin -1.0%, net loss $9.6M, operating cash flow −$15.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $459M | +20% | -17% |
| Operating profit | −$4.8M | -102% | — |
| Net earnings | −$9.6M | -104% | — |
| Operating cash flow | −$15.8M | — | — |
What changed
Revenue was $458.8M in Q2 2025, down 17% year over year and up 20% from the previous quarter. New trailers was the largest line at 68% of revenue. New trailers lost $70.3M year over year (down 18%), 77% of the total change.
Gross margin was 9.0%, down 7.3 points from a year earlier. Operating costs exceeded revenue by $4.8M, an operating margin of -1.0%. Operating expenses grew 1% against a revenue fall of 17%. The fastest-growing cost line was Other operating costs (+898%). The quarter ended with a net loss of $9.6M, after a profit of $231.2M the previous quarter. Net interest and other expense of $7.5M was the main reason.
Operating cash flow was −$15.8M. Non-cash charges added back $14.1M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $22.7M. Capital expenditures of $6.2M exceeded it, leaving free cash flow of −$22.1M.
Questions
What was Wabash National's revenue in the second quarter 2025?
Wabash National (WNC) reported revenue of $459M for the second quarter 2025 (Q2 2025), -17% from a year earlier and +20% from the quarter before.
Was Wabash National profitable in the second quarter 2025?
Operating loss was $4.8M (-1.0% of revenue) and net loss $9.6M.
Source: Wabash National 10-Q on SEC EDGAR.