Earnings call transcript Q1 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Wabash First Quarter 2023 Earnings Call.

I would now like to turn the call over to Ryan Reed, Senior Director of Investor Relations. Please go ahead.

Ryan Reed

Thank you, and good morning, everyone. We appreciate you joining us on this call. Brent Chief and Financial are and Executive today Pettit, Mike Officer. me Yeagy, Chief President Officer; With

Before statements. we out deck our get call ir.onewabash.com. is Harbor release, being Please started, Safe slide for and please note I’d the addressing Slide are disclosure like the that any also refer non-GAAP company’s to available supplementing to earnings point presentation that reconciliations earnings recorded. our forward-looking today’s this at call in X

Brent. hand it to I now off

Brent Yeagy

and for joining everyone, morning, today. Good Ryan. Thanks, thanks us

are extremely our with pleased record results. We first quarter

work these undertaken our last Importantly, up time. highlight four results the in affect years to in of improvement hard moment in we’ve structural this lead to business,

approach, a our construct structure Customer pricing key and based matched portfolio and long-term of redesign customer with agreements significant relationship the suppliers. retooled reshaping and an with including sourcing agreements strategic side improved customer-centric organization go-to-market on reporting a new

act our recurring and having managed every the a acting All the production purposely venture. and based also services through mutually capacity already are lean by We share joint parts rightful parts system our exposure have our business groundwork a our revenue reality. re-imagined a measurable strategic in and execution our distribution that process each crafted and and and drive day deployment to to management bring laid through increase to on achieving strategy

made significantly to My team the have changes prospects believe date company. the I of and that strongly future brightened our

and we more managing Our work business and to the do to way opportunities have does rest, not harvest. of

management drives employees, fact our what benefit by indicated the performance, and system is our together. and shareholders communities works is value suppliers, to really While progress customers, that long-term quarter easily first

continued During our of against quarter, the we our strategy. steady execution first pace

our our see network advantage is competitive that before, a dealer industry. unique As I’ve in as meaningful we industry-leading mentioned

and initiative. dealer a success of network parts the key also to our service Our is enabler

and during recurring dealer success step is alignment of order business. our incentives, shown in We our our this quarter. our to our collective first succeed launched we dealer parts we the partners of optimal the to in we’ve and foundational sustaining growth for revenue service Ultimately, rates impressive facilitating by a believe ensure program ambassador

first Also a advance Service learning program shipping service by a the significant quarter, founded industry as Trailers Service experience. we during Trailers our team broker with as with builds by to a and relationship a our a continue This launching great digital was and Trailers a Service relationship Loadsmith, our transportation provided exploration FreightVana, as a market opportunity. on relationship a and initial initial which as with customer subscription

parts Service is for remove our while base. program to Service, broaden We to example scale how we of help provide also dealer opportunities pulls service Trailers dealers them system on offerings. and excellent new this with us our national within their we an create of with help while revenue network that support as to our Trailers waste many service helps can believe a areas as building a logistics continue flywheel a a from

we run partners, Bay is Production considerable van following at now Lafayette begin employees line, modern as levels times South and Finally, our beginning in pleased several and to the by low is this to most new equipment facility. the reviewed a develop processes over efficient dry trailers. production heavy personally all days, workforce be the on new new and say as will the plant ready I’m last lifting of XX the our Having most capacity. certainly that and initial our our we validate processes walked Plant and exciting off

and dry van efficiency. is provides at Meaningful with upgrade burden, both capacity levels. us capacity this the not year legacy and given shifts our van assets mid-cycle clear running out facility opportunity very to fell were that our the also three upgrades dry even previously legacy possible is for What year-in new manufacturing

This with the is capacity a key outcome. reason pleased we’re investment very to make we decided this and

has of of making progress point customer our served strategic picture. the fourth entered as change step during year as another last backlog Our the agreements proof quarter long-term a

$X.X was backlog the very billion QX, outpaced shipment surprise. Our in remained strong first Strong orders at quarter. during a modestly new which activity not

picture, like strengths have limited pay to and certainly given conditions, macro our aggressive a complicating real Fed follow of has the While and are macro of on a somewhat half view somewhat most the a where field, customers. of hoping view return our of commentary to second the time shifted consensus attention positive market some recent to an demand rebound banking the year-end. I conditions we everyone by during believe from we trajectory backlog With see the issues backdrop [ph] crate visibility XXXX else

tied of to are rates rates indirect the spot inventory contract both tend of the as our some imbalance correction overarching be stable. pressure majority more Clearly, the which have and the been said, freight ongoing Contract direct under experienced capacity certainly due to out. pressure and vast since in XXXX. plays rates, to customers have That beginning demand

will age it In this as fleet carriers very the Between allow trends it’s well on, know up. creates believe step space like shippers we power so that nearshoring, is and shortages manage to pain natural to remain long-term their that diligently capital structurally a their relative our persistent driver spending, will feel well, and situated. only, environment, customers trailers we priority

long-term We that our profitable, positioning base carefully remains capitalized, selected also know is customer for is well and growth.

very to the see line of through particular, In XXXX our to continue $X.XX. of a market a we conditions. $X on on QX strong sight we raising per progress to remains share range clear. strong a With books, earnings commentary we’ll we our from As provide to XXXX what our year, candid are

improvement I member all execution for our the hope investment quarters, and of maybe the few Whether in underlying or of recognize a overall you followed a same. that Wabash pace community years you’re has strategic progress many only

strength achieved company results on acting well as are business clear have over fundamentals We milestones of the the and strengthen as changes its those couple years. last our this financial of we’ve strategic become the increasingly to to

The future our quarter I efforts first acceleration of when takeaway with prospects. and is the evaluating key our you’re hope strategic results from left

accretion think trailer at fair point financial significantly of it’s it’s as known the our EPS to the to guidance. also of improvements upcoming say that’s in I outlook in XXXX think generating continued as our that models levels. financial have remains and most range below excess our Wabash And current even we figure in from not I maximum strategic that execution capacity, our well of peak XX% are important of out that implied any earnings production our in levels suggesting $X.XX do business. guidance before peak

has close in I’d importantly, thanking direction our more strategic Wabash. team push their rate but continues to like within the members our to by execution, seen impressive of belief only to quarterly not our and underpin chains

over With for I’ll hand that, comments. Mike his it to

Mike Pettit

any Brent. weaker approximately our Shipment the with our year. was expected during $XXX results. quarterly the range QX of of [indiscernible] review shipment and X,XXX activity first new and body off Starting financial shipments of respectively. fell quarter million truck trailer XX,XXX within Thanks, for Consolidated with trailers as seasonality quarter revenue

XX.X%. XX.X% combination the and due exceed labor of efficiency to Gross unit the of form These the costs in cost our of figures improved during downside presence unit. the operating in operational quarter variable lower margin was cost material at conversion sales expectations came in while per and margin and per

expectations ramp from of to previously business. trailer margin anticipated a paired the XX% strong production for our refrigerated van Tank comes previously within contributor up the down communicated tank some production our was QX. improvement in performance our conventional Additionally, of year-over-year trailer with

of which EBITDA $XX amounts margin first to first EBITDA or year. to quarter million quarter of Operating relative a of sales, for XX.X% last the the was doubling

both our clearly this to improvements generation well to pleased We’re underlying history. as of margin with relative very our as EBITDA demonstrate ability level

for operating & income quarter, million Services of From of per income of share. shareholders Finally perspective, operating or $XX $XX.X $XX million. Transportation Year-to-date, cash revenue $X.X flow million million to diluted segment and and net generated operating million. of attributable Solutions $XX was $XXX generated a $X.XX income revenue million. Parts the common was

expenditures to QX still $XX first and during of of $XX generated available With million $XXX free flow We borrowings contact X.X the capital net was ratio our the balance company finished times. both of debt of respect as cash our which sheet, XX. in Even million, quarter. the cash comprises million leverage of with significant liquidity, March a

we during repurchase $X.X allocation first quarterly the invested projects, we capital $XX and quarter, million With to utilized million million. our of dividends $XX pay in invested regard shares capital to

M&A bolt-on our dividend focus continue opportunities. spending, to while capital repurchase prioritize allocation opportunities organic alongside capital growth for evaluating of share and maintaining Our via also

Moving the how outlook able achieved executed guidance team performance to through begin first year our as to XXXX, increase on already a our to are has very robust our backlogs. I’m financial continue record the quarter due and a of for pull we to to during strong quarter and proud

and to $X.X a per we to our increasing EPS share of outlook We $X.XX are billion of $X.XX expect midpoint revenue $X from for previously.

see this fully anticipate Parts business, with truck year sustainable trailer the is our tank for improving on out to situated to in in set which expect as sustain to business, we’re a record third expect of & last and financial growth year. this our strong the we seeing As demonstrating well chassis I flow than XXXX. believe all continue growth to process consecutive performance we’re body greater the the feed strategic call, time our of an to I in year our portfolio to we we Services mentioned initiative XX% achieve Combined strength strong

environment. mile a outlook, had Our of an previously share. to to portfolio in a per QX of quarterly ever One another range We Wabash this from Thinking set assumed first guidance cadence in has levers EPS about final our is more the strengthens uncertain $X.XX yet has record. than sequentially freight QX to $X.XX quarterly

represents sequentially often and the second back cost our the step likely of will we some in normalized. XXXX of seasonal the of quarter as QX The down financial half saw tailwinds height performance,

with However, just to stepping still the strongest the to the the in of the we from half be year it second second level first set, half, expect company’s down even history. half

are and one such another balance continues progress Wabash. viewed situation of more we’re markets achievements to on very year sit I’m a Record exciting. and but report even conclusion, when as the strategic monitoring way pleased the are strong demand quarter business closely. is indicators to and Clearly, record results between In to capacity these financial performance thing, freight transformation, for that

level than we performance this growth However, execution coupled to financial performance This a we time company’s given. shows term of and market resiliency performance bar a we’re expect phase us an the strength, to during in more longer our of and on of raise new our any believe that period confident with cycle our be exciting any history. strategy in growth during enables

it now call the questions. turn back the I’ll we’ll to up and open for operator

Operator

is floor first Stephens. open for Instructions] Justin Please comes [Operator Our from question now from the Long questions. your line The proceed. of

Justin Long

Thanks. and Good morning, outlook. great the on congrats quarter and

Brent Yeagy

Justin. Thanks,

Justin Long

sequentially to in change it the quarter. actually the that, Maybe of the really a bridge like XXX basis point, sequential improvement upside came came you the us down about a to the little to of and drivers Is there function looks can in revenue way look kind I key and there margins, any of for outlook and positive margins, a start in the operating operating because first bit as was sequentially. back the on fourth outlook quarter at that quarter if point go more

curious just items? other initiative much is – versus you’ve cost material costs of in put cost this I’m initiatives how or So other

Mike Pettit

really quarter revenue in bit little executed of some of is well numbers. the that of above, of don’t the first things and our a all in the it’s you production the Justin. Yes, see one number We

chain. We to the improvement are supply see continuing in

job Our need good executing, us trailers and we parts produce procurement group is the doing getting a to truck bodies. very

I nice tank We’re body recovery with seeing trailers. some truck mentioned

rest gave all things – full are improvement we us of guidance. we take sequential the XXXX, those and to look as confidence that’s our believe our So those have up in improvements margins. year-over-year which And and sustainable led year-over-year, significant year to the at

Brent Yeagy

this Brent. Justin, is

a I revenue sub-elements think that it dry and as look then all apply of of at everything what the we people I said to van across think beyond, Mike also generation. lens have other most think

saw of truck really aspects aspects strength side bodies, – services. bottom parts and both side of we top So tanks, and multiple platforms, nice

go – forward gives kind side, hand on which dry being which we affected an as truly was contribution, see it deck on So some hands not as by confidence us that of that on somewhat van we’re of all well. issues seeing we the the

Justin Long

to Got on in baked operating terms quarterly it. basis in the look ahead anything the That’s helpful. And as you a can cadence we is half? into guidance the that’s share there margin back of XQ

Ryan Reed

Yes.

Ryan. it’s Justin,

step with and sequentially, So operating for half going to guidance things kind margins versus to in one in QX we’ll our stepping we’re half, down of slightly XH. look second up for broader then look along for

Justin Long

you’ve got a you color talking production, And to down just seeing guess lot a guidance price, obviously, look half, to substantial on EPS. of about quarter implies a Okay. as pretty your back kind little driving of it it Well, and $X.XX guidance run today. like in closer you’re visibility the second because I follow-up year you’ve sequentially. of if midpoint to I give step Can that I what’s quarter which full got in midpoint if the that, visibility at in a half, take the more bit in upside we’re at the lot $X.XX through that, the back margin is a just a feels of

So just to what’s causing deceleration. better I that wanted understand

Mike Pettit

taking pragmatic of the think Justin. of the a year, I second view half we’re

as QX visibility we’re have we’re second – backlog, get a mentioned, feel show view the about throughput after then for put confident perspective, through to QX to the as a update talked out we’ll an clearly, how in of we’ve that we half. we environment and the that we’ll half including opportunity costs we’re variables and see can get there and we’re guidance can what hit the QX, see continue rates from to continuing we to full me, expect the broke second build We But up QX. half. that’s we light evolving out we we to in excuse really kind operating margin in specifically would unfolds say year most you that and just but half we to and But we – a the to second through we guidance have watch, good have a input quickly but there’s we taking QX just other improvement great second

Brent Yeagy

reiterate this a is that, quarter. I’d Yes. yes, great we have second reiterate visibility I would just Brent, – the of

We would have us of the And days. visibility good of address nature what to of a say, that you XX improved how in and we’ve the that visibility will. of to as XX just very QX guided substantial kind that’s we’ll next, – And have can to I in going pragmatic second give QX, substantially half interpret the you year. opportunity the

Justin Long

for and Understood. again. Thanks time the congrats,

Brent Yeagy

Justin. Thanks,

Operator

Our from Please D.A. next Mike question from comes proceed. the Davidson. of Shlisky line

Mike Shlisky

And going? of of thanks taken your on regular a of us kind last curious also people this taking of what trends at or and gotten orders? the that the two sense my has JB you have others. give multi few been How I additional that morning, been kind I’m customers? Can from month you’ve you to anyone’s Good calling been about large maybe question. if have kind a and core pause so, Brent, guess, older everyday just perspectives, from any already orders you’ve a with real book talking that back even Hunt point. kind for

Brent Yeagy

Yes.

So this from in it expect perspective, at where point time. we’re a agreement to exactly we long-term be

of have tranche kind We of met agreements. long-term initial our

XXXX the for our XXXX, second we’ll to XXXX We’re be call group working extension. and entering in on the period

in that adding to people XXXX next plan. So will signed XXXX, for extension be the days XXXX XXX exactly the for up the XX here

a positive are when on customers still with think substantial period, that long-term growth part. aligned those about XXXX, are XXXX extremely their especially you Our remain

substantial in account bluntly won’t take we have interest we have we on So back filter we necessarily up word, we for that. no, what’s agreements, use. signing tight a the very that into When in – see – and let long-term which because strategic

So we to going great allocate be. than to capacity we’re have that, more demand for place

across business. From the a said, it’s we just general demand like standpoint,

for to We actually the refrigerator, stable aspects, extremely we not bear. at stable, if really bringing We outer bodies. When with have trailer, a quarters. make about see look we market that to as we’re some us products truck that’s increasing tank think being that

that. somewhat where the – van cycle. insulated we side, we’re a then say, from we normal And on are dry should be So would in I

to you’re long-term lot these full. for XX-month point, not not are order this of agreements, in going At typically a we’re because to a have and intake it’s cycle

So there’s conversations remain we at not full. this a that lot of when we’re point, having

early up late open look then will season the order we’ll summer, get and into at time. that at So we XXXX that fall when

Mike Shlisky

Okay.

actually Another margins you comments question yes. your has Brent, with of actually do there, – was Brent, and some was to

margins, XX% could course not XX% be plus things from you your words, more feel like pricing some at you’d gotten the margin up things end? really of XX.X%, here. if average on XX.X% on lower new a you of margins said forward, in the should to other down broader bit of higher we were going a midpoint aspects capacity. here future a based where basically you or kind the at if the normal higher In quarters there where kind and and you’re full kind go pushing is level kind for the Looking be year, cycle. of range of and lower go that this you’ve Or adjust is you year, from could that temporary might build there of I’m where curious some couple the can and than

Brent Yeagy

question. Yes, great

can fill So I’ll in it off. start Mike blanks. the

advantage of allegation off of it going is that kind And what now margin at we’ve of of the levels now within could of that as me that see very done we time, the let purposeful pace at XXXX. pulling can we’re confidently that’s a just we performance through, moment The changes output we working as It’s top. is in business. output of the at made guided based think taking change about in potential lot things – we So – So are forward, all reasons the when the above say a that have of the And start you I right accelerated in we truly at we work processed to one have not forward, know, we just and that we’re clearly. right? of we’ve already the basically Wabash or operating together. look

– believe that step a the we is there change So solid. improvement is

look outer change than any the qualitative that given that performed with step cycle past margin Wabash making permanent experience if answer at cycle, better we yes, substantially we the quarters, So would the is are in we operating a a point any relative it. in at has

you of and the that to where are the that say believe in adjust then you we’re any in very wherever at can would the I way. And rebound, expectations books. where based that but at, off on or at we’re cycle we’re And going previous a outperform you’re measurable

So answer. to my that? is you else that’d be anything would add And qualitative there Mike,

Mike Pettit

No.

pretty somewhat output Brent. and think below said remarks think is in add and peak still of you and his people in alluded Brent you levels I below is it one relatively capabilities I surge. the of on before you pre-pandemic significantly are add that I our prepared from would full that we hit it, well, things miss to that Mike,

Brent Yeagy

Yes.

Mike Pettit

the additional we’ll as is improvement. in think us tailwinds, as get improving. we as expansion well year-over-year and chassis give some body, we opportunity get flow mentioned, We’ll obviously sequential will That margin truck

There’s at have cycle and So has than bottom performance, line. that Wabash operating But the this there’s any lot the more we believe it the setup perform in that than just ever to comes obviously drive leverage that to better obviously materials. in system. done pricing that operating cost point from we we do can to from a some

Brent Yeagy

working The two of aspects is effectively revenue add we five period into called cycle, strategic grow today entire one-legged take contribution. to we entirely next going of forward. purposely got the cycle have to not account And leaning business Yes. Because is margin variable know through other all perform based business go a their collect under framework pricing. off of as on this that we’re to to operating to designed going continue and that four they to period. Everyone’s we’re expectations have that thing the to how to the quarters, in they stool the

are as So move pace the we years at of next lot have into that to going performance. be an increasing additive a of we two things

Mike Shlisky

Outstanding. Brent, there. it Mike, I’ll I appreciate the leave discussion.

Brent Yeagy

Mike. Thanks,

Mike Pettit

Mike. Thanks,

Operator

John next Markets. question Joyner Our Capital Please proceed. comes of from BMO line the from

John Joyner

you is Thank I in, getting for out. guess squeezed me you. better Thank squeezing which than

first, your kind how because touched operating bit, just thinking, right? of XXXX of Brent, on in you the a this little are In goal. So you margins terms

EPS thinking you about now those are and comfortably XXXX how those targets for that above is long-term So that profitability objectives XXXX?

Brent Yeagy

new at up have ones point partly, drawing process. we’re I’m now And a as across bluntly, pretty them company socializing rolling this in Well, we right the time. strategy

we we’ll so have will say with to those I’ll what come we’re we I guidance would And couple the fully are. Street – probably relative on of sure what And or a next quarters, make to to in be. out is eye revisions those aware the think going say what XXXX see we good additional pretty probably

lead at point, And various of that. elements going to contribution are we’ll the those into that that expand

little more we more point. XXXX sure a strongly a into ago bit And the – regardless make we But even give so happens plan? can fit We’re a outstanding going beat of couple question, based a be are calls does there starting what What position our there’s see, if in we XXXX to answer we how today, in an XXXX someone is strategic time said, what said on settle, targets. to downturn? a more XXXX where to was good get your

look right we’re standing build where it. at now just upon and can that You

pretty we’re good in now. So place right

John Joyner

lines you’re to? offer more quick trailers referring the some the I then tank around you In one these more and strength think color called just in And Excellent. release, here. maybe what Okay. could truck Maybe you product one and out bodies.

Brent Yeagy

has an giving time trailer all context tank total production hit in tank our the years mean, five of actual substantial – business what’s the trailer? like in volume last level I Mike, without improvement. is the Well, basically for specifics,

Mike Pettit

year-over-year. was up XX% It

Brent Yeagy

year-over-year with improvement continues [indiscernible] continue to expand added we plants XXXX, capacity room as in XX% go plants our our in in to Mexico, we in to the

business So good efficiency we’ve with through bodies, chassis just tank commercial itself. our multiple and extending constraint reward, the with seen the gains we of some working for customer-centric within strategy the been into business years. Truck have

a a now is through X point over We’re at for gives us that that abate, runway where now next to the two Class beginning Class X, primarily growth years.

We’re supply tailwind seeing And inefficiency just nice in disruption overall at and next – that significant the couple next early up we’re I’ll gives pick begin by three seeing business the for going a caused that’s over next, say to allow, the years. innings will margins that diminish. a All two us chain drain extreme that’s the that been years. on of

Mike Pettit

for our rates. And you our in bodies can’t bodies – Yes. production improvements truck production shipments mid-teen almost exceeded you’re to XX% in And truck QX. seeing

that the through overall Brent with and tank disruption benefit nice pull too, mentioned we’re profile that, all a gives easing, with that along to and tailwind nice So nice seeing going should trailer be a margin services some enterprise of chain us there as the and supply also forward. parks some

John Joyner

time. Excellent. That’s Okay. Appreciate the impressive.

Brent Yeagy

could squeeze John. in. Glad you we Thanks,

Operator

Boeschen proceed. Felix of line the from comes question Raymond James. Please final from Our

Felix Boeschen

Hey, morning, quarter. the everybody. on good Congrats

Brent Yeagy

Thanks, Felix.

Mike Pettit

Felix. Thanks,

Felix Boeschen

anticipated could numbers there’s to track? the rate I capacity. expanded then just I’m was that associated startup through comment you if just Mike, Maybe about just you could on of expansion expect curious I imagine secondly, we and costs how year within that with I talk the what’s if don’t sort know some increases ramping And dry in on the Hey, that. capacity. hoping could you capacity build the and van follow-up

Mike Pettit

Yes, there is.

So the effectively, weeks in really to in production. we’ll here QX, see some will the launch start line next couple

then see a early to of above call. for some year-end the there’ll significant the QX, guided profile of to. about in end the expect startup half costs that in in we’ve talked the which you’d at full half saw a output through And We we is some rates year what but to not in of facility still like So line be the QX, first year, improvement plant. we what look in at what third the but year that approximately would finished anything

of benefit would that full the So capacity felt XXXX. be in

And exactly little second a we rate that things make before QX, like previously little very a be on impact ramp a we’ll and will output when you’ll pretty QX, go closer. to we’ve that close line QX. still full we units decision the full to in we what that we depending But add in improvement bit shifts said. be net a X,XXX which year. as then good So from facility, in to It’ll next reefer did into see a plant be

Felix Boeschen

you of if van your year size buckets second as you two my then the the then Okay. That’s know talked know Got half it. is, know bigger of efficiency those could down coming don’t that price in the trailers. well gross changed but margins helpful. to picture way sort And you question us, dry the up. costs for for just about I you input I going quarter. wanted I I follow-up on the as strong

about maybe here? think half how raw and you puts Could you’re into that just through takes things of the maybe about normalized, of trying kind the talk material margin just back somewhat the of thinking year to

Mike Pettit

Yes.

of little production – had to lot XX% that the had, shortage. did talked we and a it bodies to when production like alluded our We van factors improvement truck dry we was in supply speaking, better see lot I earlier, had it. trailers. to in improvement it a contributed generally we was XX% about a you we have a high-teens output quarter So and

half increase. second all the the And we did keen the that led of the the going going keeping is how really settle. to the reasons into – one conversion of next on see into material material And price a of some normalization to that’s to cost – cost we’re cost. year So with the it’s everything’s eye what

high a input coming our they XXXX. bit of are of in off Some costs, a of

could their come We huge to don’t costs ASPs highs. as an impact margins, it think it’ll impact material to but a off have have

stayed So see what was But speaking, of we’ve of launched. we’ve from reasons significant the intent variable cost impact our that’s one looks commentary conservative second on the input like. that and our generally margin somewhat half pragmatic to construct that whole that expect wouldn’t pricing to see we

Felix Boeschen

it. appreciate I it. Thanks time. the Got for

Mike Pettit

you. Thank

Operator

like the Ryan now remarks. closing call to over Reed would I to for turn

Ryan Reed

Thanks, everyone Look We up. appreciate the for today. following to joining the participation. call forward

Operator

today’s ladies call. and conclude Thank for you, does gentlemen. Thank This you participation. your

disconnect. You may now

Wabash National (WNC) 26 Apr 232023 Q1 Earnings call transcript