Filing Flows › Wabash National (WNC) › Q4 2025
Wabash National (WNC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Wabash National (WNC) reported revenue of $321M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and -16% from the quarter before. Operating margin was -18.6%, net loss $50.0M (15.6% of revenue).
Wabash National, Q4 2025: revenue $321M (-23% year over year), operating margin -18.6%, net loss $50.0M, operating cash flow −$57.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $321M | -16% | -23% |
| Operating profit | −$59.9M | -204% | — |
| Net earnings | −$50.0M | -225% | — |
| Operating cash flow | −$57.4M | -167% | — |
What changed
Revenue was $321.5M in Q4 2025, down 23% year over year and down 16% from the previous quarter. New trailers was the largest line at 68% of revenue.
Operating costs exceeded revenue by $59.9M, an operating margin of -18.6%. The fastest-growing cost line was Other operating costs (+1843%). The quarter ended with a net loss of $50.0M, after a profit of $40.0M the previous quarter.
Operating cash flow was −$57.4M. Non-cash charges added back $15.0M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $25.0M. Capital expenditures of $4.5M exceeded it, leaving free cash flow of −$61.9M.
Questions
What was Wabash National's revenue in the fourth quarter 2025?
Wabash National (WNC) reported revenue of $321M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and -16% from the quarter before.
Was Wabash National profitable in the fourth quarter 2025?
Operating loss was $59.9M (-18.6% of revenue) and net loss $50.0M.
Source: Wabash National 10-K on SEC EDGAR.