WNC - Earnings call transcript Q4 2024 | Wabash National Corporation

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

Operator

Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the Wabash Fourth Quarter 2020 Earnings Call. [Operator Instructions]

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

Ryan Reed

and morning, this Good President thanks joining Financial for Chief Growth Thank With everyone, me on Officer; Chief Keslin, call. Officer; Yeagy, Pettit, today us Chief Executive Officer. you. Pat and Mike are and Brent

of get started. items we before couple A

please this reconciliations today's supplementing being call any non-GAAP call First, available recorded. to at like presentation also note the that out slide that are ir.onewabash.com. point our is I'd earnings release, and

deck Q&A We'd to for do also call. on company's I'll to see section Slide corner screen. disclosure X forward-looking like of to we'll refer encourage now hand mention questions, right-hand should earnings our it investors addressing our Please harbor your the on you provide the lower to tab off safe statements. to and like the of a submit I'd Q&A best Brent. our to during answers that

Brent Yeagy

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

a this in more on reflect manner strategic XXXX, we As demonstrate and that's record-setting we during market financial of business continued the continue cycle, to on innovate the accomplishments to portfolio been XXXX, relative for down industry and of our to we've clear invest that Wabash. the Building resilience the improved importantly, has and pivotal it's unprecedented year a conditions.

environment. beyond. solutions, in creation and the to long-term Our XXXX First challenges, ability us performance to been more which maintain seen focused well diversified sheet market while has instrumental of navigating a Final for value short-term of and a on challenging strong during balance the positioned portfolio exceptionally stay Mile stabilizing benefits has We've

has cyclical a market weakness, diversity impacted to been and While across less of truck-buying better conditions. demand Wabash to portfolio. This market broad bands broader our our our range swings executing freight strategy for the exposed bolstered is dry stability positioned continue ensures that by has business of

our ongoing our of joint partners. Group Wabash grow laying which and revenue the our out more -- suppliers, of venture technology and the HDI, strides streams. Services with Turnway to of continued the with part ecosystem, In A strategic development groundwork Wabash broadening Marketplace made in significant joint been dealers and key recurring from XXXX, includes Parts we Parts has our customers, this venture

As our mature, and to these portfolio, they they us the the profile to allow how value and Trailers better integration of transform Parts Service a we initiatives also balance as offering of business customers seamless will Services. from deliver will our cyclicality our to digital

a exciting to foundation we innings solutions for early ecosystem challenges. Wabash. growth scalable toward integrator our has to growth leveraging navigate seeing By an Together, industry the form opportunities, to and develop a shifts our we're collaboration ecosystem move XXXX. in these emerging theme an using competencies our The as key initiatives of as been of in future across for innovative

and As our capabilities care and partner uptime autonomous with we of example technology highlight this goes for managed This making trucking. differentiated in like on service think autonomous bring about focus together which partnership role a to to well logistics. network specific Kodiak, Wabash advancements as notable dealer beyond ensure is trailer the would to examples, our to redefining solutions Service Trailers I

and secured as a have to suppliers for in excellence. Wabash key high-demand leader components with relationships operational periods positions Strategic reliability and an access critical supply

collaboration technology which on effort Smart and fragmented Additionally, a initiative our an Purdue across to Crossroads, bring how is data operational address to is ranging drive in our innovation, called challenges ecosystem a logistics creating systemic rethink University inefficiencies. with from drive to Wabash connectivity By is can insights working Crossroads working ecosystem joint form of diverse stakeholders improvements. and share to to transparency Smart

of kind done, this gets for the industry needs. solutions bold how we As business lays foundation the rethink initiative the

Our ensuring ecosystem how that We enable of could is believe alone. for on larger to the are with is and the supports focus. that success, engaged role right our of of the any stakeholders employees beyond empower co-create we've meaningful as innovations But respect strategy our to throughout having organization. achieve one move to our a understand a and strategic based taken to than goal their across relationships these networks to steps sustained organization foundation is culture drive just people partnerships spirit team transactional as important innovation

to role This Keslin to key reflected Mike Growth appointments personnel promoting internally as in is Pettit by that such moving commitment and filling CFO. Pat Chief Officer

opportunity to Wabash also for with as during his leadership to on Chief Page, and contributions moves to meaningful our to Commercial vision outgoing thank time he this I'd retirement. take this like Officer, Kevin strategic

for Kevin's engagement process our levels a organization. greater Specifically, passion will ease prioritizes doing building of that of customer lasting and lead on impact business

able to C.H. we're built from Again, we as Officer. Drew Schwartzhoff Kevin Chief senior exceptional industry succeed been of transportation Robinson. talent have fortunate over to and Drew expertise promote time in at bench brings roles a have leadership the to years, his Commercial deep

promoted the than experience manufacturing of Officer. the we leadership Winston Operating years Donald to Chief have role. XX Additionally, more Donald brings

improvement These and are enhance who perspective our both and exceptional strengthen our leaders operational continuous overall mindset. expertise strategic

something rethinking ecosystems that, connected I'll into The strategic our changes fragmented this our it turn responsive, inefficient serve part the employees global path and leadership sustainable be Mike be and of a a system more and forward, realizing together unity a his It's work network. by strategic for With physical to logistics sense connected of of without partners. purpose path to every efforts over transform one through to to ecosystem technologies a not incremental interconnected cannot these small our will to digital of bigger a of doing is forward can about about improvements. comments. being While achieved to critical customers product how

Mike Pettit

positioning we company long-term pleased share how key Thanks, some success. I'm able for initiatives are Brent. the be growth Wabash's on and to to updates

seamlessly First to our customers, serving intersection portfolio Services Final offerings Our and Parts at Mile digital and transformation. often our sit our the of

that One which a truck provides big with customers, versus XXXX, X,XXX XXXX In continue possible, proximity in the initiative we years, is thank like believe This is in XXXX. I'd Parts growth double this with bodies few sale. quick traditional the body our and I will growth combined has expect for and a of example equipment and this significant upfitting to digits past team location turnaround, them a will that advantages Services. be grown a we year this part over for of making initiative. over OE upfitted

of continued network, significant the PPN. One areas expansion preferred partner most of progress is the of or our

of Parts Genuine their reach of regions by extending Services Wabash not to trailer announced covered we addition van XX the QX, our locations, dealers. and During previously

Great Western network simply to and North U.S. dealer includes PPN maintenance These these and strengthen capable always be incredible Our Wabash American they XXXX Trailer access a ensuring Blaine strengthen as to partners Parts The announced us, now for wherever in operate. has partnerships and expert competitive and well as will Trailer have Trailer, advantage Service customers Brothers, an been very more additions aftermarket our as service Parts. such our support, network.

Transportation we've Wabash parts built and ensures Solutions distribution tank centers availability that truck Parts In with multiple our bodies. to all scalable This enhance leveraging and supports trailers superior trailers, rapid initiative capabilities. single XXXX, across platform van the Canada, unify a distribution By and U.S. trailers, a product delivery. system we lines, parts including channel launched and

and venture of access quick Partners network reliable Our to joint for and by our Services. underpinned parts providing our Parts maximize to Service locations distribution is uptime designed customers,

to is network leveraged customers. the I'm momentum happy maintenance repair being in TaaS Additionally, our activities strong and to is the XXXX of with say for showing program, onboarding which perform new

launched to expanding and The suppliers capacity app expense digital our connects to a experience customers, a platform on-demand trailer as excited we're an the trailers the throughout include XXXX. dealers through ahead, capabilities U.S. Wabash about damage Marketplace, parts, designed in in services aid a of network mobile Looking by attribution. transform streamlining and and service the and development includes locations access to our inspection at trailers. to This their end-to-end platform

the our distribution to in rapidly, technologies. marketplace capabilities initiatives enable strategic at digital will and of and Wabash position the customers intersection Our scale to serve parts us physical

transformation are strategic advancement engagement, tools to also positive our doing We digital of experience. employee believe digital in experience. of customer our While leveraging ease enhance this customers, employee mindful prioritizes critical we and our business for engagement is journey loop

through In customer access progress our services. These our work provide closing, in TaaS our development Marketplace Wabash within to to growing the and to we're excited about Parts set Service platform the of value-added also place with and offer Wabash that enable emerging digitally capabilities taken business XXXX. has

fulfilled streamlined with by partner preferred of maintenance Additionally, joint support a Parts assortment repair of Wabash full parts our via and network our our capacity enhances for expanding our venture. after-sale equipment

we're significant base into value and building recurring more believe Parts initiative Services Brent. back creation meaningful our on of the momentum With to we hand a by cusp now building XXXX, the I'll call revenue. of

Brent Yeagy

Mike. Thanks,

Looking year the are readiness. ahead entering to with strength unparalleled we XXXX, and

years. we tariffs leadership Combined on Our took and up to continued well feel direct to of the activity expand first short components recent partners. chain X broadly about ramp trailer the trend, further to it's from need that with nearshore mention an the as balanced stemming any transportation, supply in insulate investments and already of resilient To past for in and held manufacturing we've multiple organization to in American manufactured over what tariffs to tariffs. that by opportunities and for logistics imports very Trump we van with complexity tariffs, us activity our the believe North reasons important is extent round poised the our impact gives markets. accelerant new some foreign I of customers to impact positive as from that the in to are more utilization. on potential the form goods will has response industry dry Wabash that believe more abroad. Thinking years near-shoring in we the may seen being U.S. actions create contend replaced industry an tariffs our of we term, outside portfolio, capitalize the infrastructure incremental In the our impacts has environment positioned the an act on

thus year. inflection far. degree a XXXX bookings businesses aligning the and the van Industry lump-sum order to likely communicating as well backlog Looking of This Based second seasonal our in manner rather from interested dry in van that more customers throughout during feedback year are on than they that's of of the outlook, industry. the become traditional clear are the our a customers this coincides follow describe dry half needs in orders received is I conditions with our indicating booking XXXX season most we modest for slow normal our with freight would shown reports with have at market patterns across generally, expectations. our

This throughout XXXX van our of fourth continue the because to van to is anticipate guidance the tend dry EPS outlook, driver orders largest be quarter. to to the range for during financial to We for accrue specifically the significant initial is particularly dry $X.XX. of When our in our $X.XX year. it comes backlog, do

That of across We most fleet of said, demand this embeds demand what I'd year about industry assume intra-year sits than XXXX. orders anticipate This fill we backlog and and stability a more Generally, growth. forecasts a on conservative heavily outlook our what rate clear to businesses. our replacement opposed be perceive course and analyzing forecasts. like industry growth where of We those activity does. do either dry to van take normal it or compare currently through as when the focuses

typically when as backlog, modest well as to very We're backlogs sights of to the a of at level carry truck point like bodies. in positive for Additionally, line and Parts these guidance. comes and of our Both have businesses cautious that optimism we businesses Services businesses cycle. embedding it any trends

within the demand, equipment understand While stability specifically and the Service ahead to it's truck of body for of XXXX from of Parts replacement EPA is easy greater benefiting accelerated mandates. power demand the levels

for transformation our throughout building flow conclude, XXXX. very orders foundation market of while XXXX We've resilience ability for has year signaling healthy To been are customers truck growth. headwinds of body Wabash. such, both through a to sustained perform long-term the demonstrated and As

long-term driven stakeholders. comments. by and move we execution I'll turn into leadership new levels over and enhanced customers of XXXX, employees, am value Pat for his As confident us creation team will pursuits that, for our of our enable I that continue to With it our our to strategy, focus

Patrick Keslin

Thanks, Brent. the of consolidated review quarterly results. Beginning million. with our was quarter, revenue In a fourth $XXX financial

at the was quarter, sales X.X% during quarter, X.X%. while quarter, bodies. came In we adjusted of X,XXX During shipped new the was operating trailers sales. margin approximately X,XXX the and EBITDA in million Gross truck XX.X% of margin or $XX.X fourth

loss diluted was the share. quarter, or per negative $X.XX for $X million net Finally,

reporting Moving Parts cash operating income capital operating working generated revenue in generated generation segments. capital of on $X.X million X.X% anticipate and and Free was or or trend amounted million of sales. million our operating sales. released to levels of XXXX. XXXX, to Full of Solutions year of Transportation $XXX $XX.X million, million income during a as cash flow Services XXXX traditional of from peak $XX.X revenue we and year. million reduced $XX by the $XXX aided continuing in for expenditure X.X%

sheet, We leverage QX liquidity, and cash which of our our Regarding $XXX a ending debt ratio available December net XX. both balance million was comprises X.Xx. borrowings finished with

Service revenue-generating million our shares and million a expenditure in assets via to We dividend allocation utilized the repurchase of invested capital million fourth paid quarterly Turning for million. $XX we invested $X.X as $X and initiative. $X.X our trailers to capital during quarter,

invested million million in assets, For the $X in shareholders allocated via returned traditional revenue-generating dividend. to expenditures, and full our year, repurchase we $XX shares $XX.X invested million capital to million $XX

drill of repurchase of of shares our moment track equates to approximately proud to We activity. on X% took repurchases we're diluted consistent of out reduction a shares. like take share down million which to I'd record X.X XXXX, a about during as

Coming out further.

last the reduced X over we've XX our XX%. count share by repurchased shares, which Over has years, million

order framework to annual spend capital organic $XX prioritize Our growth to capital in $XX and beyond will our CapEx million allocation million to support expenditure our above maintenance initiatives. of continue

We M&A. are dividend, of opportunities to for bolt-on our share to continue repurchase evaluate committed maintaining we'll also alongside and

in near ruled trailer. As stationary million you trial jury a miles liability XX to St. the least per in accident may the motor traveling of back XXXX aggregate after struck trial us in vehicle XXXX passenger recall, liability we recognized an a Wabash Louis. in a against vehicle $XXX a product related hour QX XXXX, which at The of

The plaintiff with Among full at wear in regarding errors of impact developed guard though the claims trial, at evidence on erroneously all the card that the intoxication even was judge defective was in the the to and other regulations. seatbelts impact trailer the rear rear the plaintiff's federal excluded time driver's designed accident. committed compliance applicable failure

the continue relative we available legal case call has quarter filed prior our elevated continue as and within baking as provide deviations are as all For $X these reasons, continued supported million the outlook. not Wabash in to facts and The related verdict docket or our of We'll this become spend other this is maintains XXXX guidance to our they in updates public law. the verdict that for the activities around relevant in well we company fourth legal to We this out regular SG&A any anticipated And SG&A verdict. legal by expense. evaluate motions legal did on in to incremental spend post-trial options. incur an

we to $X a $X.X revenue to billion. our billion with expect midpoint on Moving of of outlook $X.X billion for XXXX,

expect serve of in trailers relative Parts to continue to XXXX. strength as and body tank sources Services We and truck

freight Parts meaningful segment expect stabilize. Services revenue conditions and We growth market our in as

Additionally, it's economics. out poised XXXX X will body truck mandates benefit worth impact our business that the over to engine years that calling from is EPA coming

margins. the expect to operating or X% approximately From an we perspective, generate at $XX midpoint operating million income

below about $X Wabash income see for venture to XXXX. expect expense We Marketplace operating million our joint run of during

outlook XX%, $X.XX $X.XX rate an a with results tax to in a midpoint Assuming of roughly $X.XX. of this EPS of

growth to we in deployment anticipate initiatives. result our figure that will capital further expectations XXXX capital as investment focus. for increase XXXX, $XX to that from $XX fleet in we'll We planned a support Moving our and investments between and million strategic expenditures as cash comes be on of anticipate million traditional XXXX, granularity to give into

typical it's lowest our EPS reminder, terms revenue to a As quarter and of be QX generation. for in

will believe expectations. year to be to QX, carriers quarter that heard modest that expense from we related this first as runs seasonality commentary you've relatively addition In some through in the P&L likely more pronounced SG&A

similar believe negative we out EPS first range be million to XXXX We and between likely come of the $XXX $XXX in in million are $X.XX to negative to and quarter a our expect patterns in to $X.XX. fashion play to demand revenue in

XXXX strategy, cycle equipment our portfolio we a call been set Wabash, offerings the growing allow the peak it questions. As open strategic now against for mentioned, business and executing the to year I'll between. up in back deliver of combining as By and improved well important an we'll has continuing services. demonstrating will for Brent our to at operator, to all innovative by the generate both performance that believe will value-added resilience cycle turn Wabash enhance financial phases be to as customers company's we with progress trough, of to in able value

Operator

D.A. question Instructions] from line comes of [Operator Your first with Davidson. the Mike Shlisky

Michael Shlisky

I making thought wanted but least us phenomenon? you quick might increase guidance or just the side, a small taking And provided. looks like midpoint if tell behind be little or investments in granular, at why at just to curious be then you maybe a what the ongoing start could in off to the got about I'm changes by potentially the decline you've It you're place some a that that give the margin. that a that mix more can might in of just in 'XX us you revenue

Patrick Keslin

also us if be peel compensation a alluded is it expenses. legal variable XXXX you look related verdict Pat I as related to at for expenses will to, back say, the to be SG&A margins. to then to Mike, a a And going in just our side, guide take expense there the here. to relates I were will as and headwind year-over-year delta

Michael Shlisky

still most us of look we will And some challenging orders. now? about team your KPIs know right maybe a start and market kind for KPIs you a moment, what true then the track view, when promising discussed you in to maybe least watching of the what being or the the seeing the we but be basis. Brent, you're as Great. should And talk promising inflection KPIs trailer regular which of freight and see on I given a kind that at always Okay.

Brent Yeagy

great Yes, it's question. a

can and last, leading As be we've brings. lot what decade, a imagine, future to I'll to of that the things over we predictors had the just you indicators to about at say of what opportunities try can better think a are look

As we focused here on things Mike, the of the one generators freight overall the today, say sit I within subsegment we're would really underlying of carrier landscape. is

freight So of United what the I arguably that are in is there States. different subsectors generating mean by activity XX-plus

Some in a not is going rates are than -- was that seeing it right? They general. And those we're than we're should and opposite were beginning direction, And much this more fleet it others call moving. ago. Those subsegment now positive looking a are were to seeing year, of in what difference subset a we'll we year where effect that in where last that's its actually and important that were move today volume, in we're of volume a freight for and freight be where from creates, on drivers time direction what there the at regional terms that. right fundamental overall you're

the turn those to is beginning conservative because want those more will optimism that's to in call tend really carriers then starts better that So of say, there. that to And what we'll terms turn to market market do where gives it first. underlying to subsectors exposed are the us I

market linkage we by that we really like what I the indicators straight-line and the wagging that's conversations drives tended that to that helps. that in rates can gives having indication of terms the dog we even lagging you And with see themselves tonnage first tail customers. use somewhat moving. would we are a market our numbers the hope what that And of than some think to really have of the we're more a see

Michael Shlisky

the us appreciate, for it Absolutely. Can first I I what one just industry lowest your in more specifically the rest in quite you bit a give granularity quarters about one little for appreciate in those me. of one the the the place seasonality about time. comments. took Maybe some last of quarter. the year, comments Pat, quarter, fourth the was

fourth challenging you at of a see a you in other had quarter also up the shipments year potentially being quarter quarters would can Do and think positive your anticipate too. you this at time. on You least quarter the

Brent Yeagy

that Yes, pick let we'll general, the steam. being me air that it begins yes, the balloon over the course see up one. would say, I to of market in put as in XXXX try we gradually absolutely call

year. so I I'm at far as going And momentum throughout the would this go say as But trying do build should not to point. to just year-over-year

a The market into fourth very relative specific about. reiterate XXXX be place quarter quarter. we moving of just going a fourth reasons for sustain should itself into could just was XXXX, so XXXX the declining talked let not We me at that a to event different the

not So or amount we happen. should that of anticipate XXXX. the tail I in not That off saw tail in would off general

show And previous we it's is general so it's kind up now and up between XXXX going really -- and replacement saying people XXXX, carriers we to full itself then shoes setting growth there's starting begin out to and proverbial see what see are on glide that as statement, and incremental just right move based do throughout just of doing. think I all in what real a into dichotomy for to green the on there a a

really positive. hard got they seeing be we're positive time things that optimism a turning. because they one. the I them to burned of very want don't is understand want They of know last really so quiet right was but But last And say it's to more there level it believe Many year. this me, than that year, it.

Operator

Kauffman Vertical the of Your with Research line from Partners. next question Jeff comes

Jeffrey Kauffman

you in the deeper seemed fourth It weaker what not wondering quarter also one just would the the expected a like if revenues quarter the than core but a could we trailer have and much I on fourth business, get the parts just given was in because happened board. put to business. on dive margins profit

Patrick Keslin

repeat. couple, high-teens Jeff, last in as EBITDA On part about parts year margins. activity I'll QX I that a it, event be onetime would specifically, won't expect been talking we And about think year, call had the full the we services for I and that happened have to

year about that I XXXX. expect up think pick I XX.X% rate to EBITDA. full we're back in

So towards -- couple it that the to that was of there we of was things not happened the roll XX%. end a in would year expect

-- we'd high-teens be So far glide back type on Parts that it whole. path Services and for the 'XX for as path as

Brent Yeagy

Yes.

Just to does fourth in really lowest come overall, was the down both the volume our trailers there, Solutions truck where in quarter it in Transportation segment, bodies. leverage and

certainly impacts that margins. So

Jeffrey Kauffman

Well, being units I think older would need a much yes, new parts. as actually little units as more would purchased aren't

by little Mike, right cost you fleet expect is of now? just that year? was I a where big next that. end And surprised be how do at So the to the

Mike Pettit

Yes.

capabilities we've going it's Brent it's XXX X,XXX, phases different significantly -- trend, last rolling it's obviously, was dynamics the it's still and that years. between in right year. It's we say I'd full now, of about. It with this some of couple the in been service grow, relatively will to -- believe, of talking So that for out

expect, are a they capacity, early customers need that our And they're pull. terms has on in customer -- units but units would we're that excited levers In the cash we first of their customers in the we've fleet, have cash indications got some several now fleet. due use base that what to we if past going their small of a growing number about, have

would the point that we unit be. giving for next on XXXX, a the capabilities see we we guidance QX -- So to see not those, market that couple We're of of on what in unfold update provide as we'll will that We'll they give calls an see QX. count mid-year. could greater we official but think as guidance inflection hit and little the expect

Jeffrey Kauffman

just Mike, last acquisition maybe days. onboarding XX it, I'll some just customer and insight give early-stage can call the new into, in you

Mike Pettit

Yes.

yes. -- Just

So it maybe we've markets, life. in signs trends seen little, early with seeing what the some of

we larger the new new customers of last also much capabilities offering TaaS. the users that Again, of developing and unit some We our couple customers we're logistics potentially have look -- be surety for announcements be brought but key count, of on load. in will small of days. a several longer weeks just their could with in it's XX some some believe we and have help can needs TaaS some think term, around customers capabilities to how to next additional security that the And we

happening positive trend So that's going all it's pretty will a throughout be it's happen quickly, that we and think -- to 'XX. -- --

Jeffrey Kauffman

trailer the pools That they're deal of of trailer listening guess few trucking that a for of don't question were companies, your of pools downturn, I what's build a the we and living? more going market. part went of that talk the not big around away sure, the most thing. Kind ago. for but One XXX% trailers we in to a tariff, Will but Brent. back go XX,XXX is feet you second look have being will a years in at tariff, footprint about still not to some And competitors less than a in talking Mexico

what that kind change does tariff competitive separate your So customers from or tariff of pools Mexico now? we and happens saying right position, if trailer about to what you

Brent Yeagy

X Those questions. Great. good are

relative well tariffs. positioned tariff let's different whatever So Yes, from start extremely happens fronts on standpoint. are Wabash to X a with

chain XXXX go supply chain strategic of onslaught. the construct, our supply out We first. tariff in So made coming truck changes let's substantial side

make dramatically stage. to dramatically, de exposure we this minimis at to almost have our that so And reduced it

across know tariff competitors the risk So we risk. that tariff are a We many -- substantially around we our are incoming have built to exposed supply quite still different dimensions. moat

exposure good more pretty impacts to feel on have operations available standpoint, From has about we to those our to were some we substantially capacity Mexico, competitors location we have we shift our X have if potential leveled facility domestic than So that tariff and occur. tariffs they needed in a do manufacturing exposure as minimize that. to production

a in or know or closely. will we But right construct watch the in it put long. to don't We manage we very one pieces we way So other. that exactly place know them or how they have how the

overly we're So point. at this not concerned

Jeffrey Kauffman

surprised customer it the a All but, yes. pool they growth a is And just hour, guess, little concept, then trailer a truckers discussions. hear actually right. powered to and trailer I'm trailer pools talking pool by I couple about of call

Brent Yeagy

Yes.

to pools but up constrict, model continue is still play, which is So momentum flexibility And in TaaS are are in we're it the to as a rhetoric model to concept. the call now and management forward. the in the having for That's fleets. because of the larger can is trailer from construct they pool asset the, market these layers what remaking shippers the the right, as way still seeing the valid that concept and the forward changing many kind stalled going carriers extremely that we fleet concept and and of are that it as go cost can absolutely of you're different a of trailer we're position going it's inquiries began finding there ways

part into lot in about model see more a we possibly the see as want edges that's become trend/concept you again, people And that grow going them, efficient we and as they million. layering publicly see approach to... half around believe 'XX -- -- of more full talked TaaS wanting $XX are inquiries we've do So kind we'll our for experiment the that solution. the that we we to Mike, market second because the that a of of once gets in had still will of much swing see

Mike Pettit

just I going to Yes. Yes. add.

wants customer but continue place customers' well and drive scale. same And the a for a had you're reasons our we capabilities deploy. it to trailer it TaaS looking shippers, solution are deploy of I a to to that think hearing, a Jeff, plays that So will that's of And I a consolidate things optimism needs, is to why of that we demand some TaaS, really grow where product to for pool. have customers think and lot it are our fundamentally, as some the will carriers

Brent Yeagy

in to trailer providing what you flexibility pool finding takes a get capabilities asset we're it you is do just is think call to declaration producing. talks that speed being it, have When enough. need what of and barrier Mike revenue And about drop things upon that agilely, to able to with will seamlessly concept physical creating, every and high that about we're a not

all So provide if marketplace, make just we're is the equation to the I of of we money." create easy, can get landscape ecosystem can what making the this and the then revenue rest them it constructing more doing in frictionless to "I pieces say, had, that

Operator

Ryan to turn Q&A session. closing our Reed remarks. concludes back over will That call for I now the

Ryan Reed

Thanks, during joining and We up for the to Kate, everyone today. forward look quarter. us thanks following

Operator

Ladies and all gentlemen, that concludes today's call. joining. Thank for you

You may now disconnect.

Wabash National (WNC) 29 Jan 252024 Q4 Earnings call transcript