v3.26.1
SEGMENTS
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
a. Segment Reporting
The Company’s Chief Operating Decision Maker (“CODM”) is comprised of the Chief Executive Officer and the Board of Directors. Based on how the CODM manages the business, allocates resources, makes operating decisions, and evaluates operating performance, the Company manages its business in two operating and reportable segments: Transportation Solutions and Parts & Services.
Additional information related to the composition of each segment is included below.
▪Transportation Solutions (“TS”): The TS segment comprises the design and manufacturing operations for the Company’s transportation-related equipment and products. This includes dry and refrigerated van trailers, platform trailers, and the Company’s wood flooring production facility. Additionally, the TS segment includes tank trailers and truck-mounted tanks. Finally, truck-mounted dry and refrigerated bodies, as well as service and stake bodies, are also in the TS segment.
▪Parts & Services (“P&S”): The P&S segment comprises the Company’s Parts and Services business, as well as the Upfitting Solutions and Services business (a component of our Truck Bodies business). Additionally, the Company’s Composites business, which focuses on the use of DuraPlate® composite panels beyond the semi-trailer market, is also part of the P&S segment. This segment also includes the Wabash Parts LLC entity, which we created with our partner as further described in Note 6. The Company’s Linq Venture Holdings LLC and Trailers as a Service (TaaS)SM initiatives, which combine our market-leading trailer products with emerging capabilities like parts distribution and a growing maintenance and repair network to provide a valuable suite of services to our customers, are included in the P&S segment as well. Finally, the P&S segment includes the Company’s Engineered Products business, which manufactures stainless-steel storage tanks and silos, mixers and processors for a variety of end markets. Growing and expanding the Parts and Services offerings continues to be a key strategic initiative for the Company.
The accounting policies of the TS and P&S segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on (loss) income from operations. The CODM evaluates performance by considering comparative period and forecast-to-actual variances for these measures monthly. The Company has not allocated certain corporate related administrative costs, interest, and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost. Segment assets are not presented as it is not a measure reviewed by the CODM in allocating resources and assessing performance.
Reportable segment information is as follows (in thousands):
Three Months Ended June 30, 2026Transportation SolutionsParts & ServicesCorporate and
Eliminations		Consolidated
Net sales
External customers$354,147 $63,094 $— $417,241 
Intersegment sales507 293 (800)— 
Total net sales354,654 63,387 (800)417,241 
Cost of sales348,668 54,044 (800)401,912 
     Gross profit5,986 9,343 — 15,329 
Other operating expenses (1)
19,887 3,378 17,359 40,624 
     (Loss) income from operations$(13,901)$5,965 $(17,359)$(25,295)
Depreciation and amortization$10,431 $1,937 $1,241 $13,609 
Three Months Ended June 30, 2025Transportation SolutionsParts & ServicesCorporate and
Eliminations		Consolidated
Net sales
External customers$399,352 $59,464 $— $458,816 
Intersegment sales862 280 (1,142)— 
Total net sales400,214 59,744 (1,142)458,816 
Cost of sales371,614 46,944 (1,142)417,416 
     Gross profit28,600 12,800 — 41,400 
Other operating expenses (1)
16,082 3,740 26,329 46,151 
     Income (loss) from operations$12,518 $9,060 $(26,329)$(4,751)
Depreciation and amortization$11,685 $1,252 $1,133 $14,070 
Six Months Ended June 30, 2026Transportation SolutionsParts & ServicesCorporate and
Eliminations		Consolidated
Net sales
External customers$603,603 $116,867 $— $720,470 
Intersegment sales1,227 589 (1,816)— 
Total net sales604,830 117,456 (1,816)720,470 
Cost of sales614,360 103,172 (1,816)715,716 
     Gross (loss) profit(9,530)14,284 — 4,754 
Other operating expenses (1)
41,720 4,516 36,172 82,408 
     (Loss) income from operations$(51,250)$9,768 $(36,172)$(77,654)
Depreciation and amortization$22,067 $4,251 $2,320 $28,638 
Six Months Ended June 30, 2025Transportation SolutionsParts & ServicesCorporate and
Eliminations		Consolidated
Net sales
External customers$728,400 $111,306 $— $839,706 
Intersegment sales18,617 393 (19,010)— 
Total net sales747,017 111,699 (19,010)839,706 
Cost of sales710,003 88,310 (19,010)779,303 
     Gross profit37,014 23,389 — 60,403 
Other operating expenses (1)
34,294 7,419 (291,110)(249,397)
     Income from operations$2,720 $15,970 $291,110 $309,800 
Depreciation and amortization$24,390 $2,429 $2,283 $29,102 
___________________
(1) Other operating expenses include General and administrative expenses, Selling expenses, Amortization of intangible assets, and Impairment and other, net.
b.  Product Information
The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and services, and (4) equipment and other (which includes truck bodies). The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):
Three Months Ended June 30, 2026Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$317,516 $— $(465)$317,051 76.0 %
Used trailers— 1,796 — 1,796 0.4 %
Components, parts and services— 32,538 — 32,538 7.8 %
Equipment and other37,138 29,053 (335)65,856 15.8 %
Total net sales$354,654 $63,387 $(800)$417,241 100.0 %
Three Months Ended June 30, 2025Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$312,931 $— $(771)$312,160 68.0 %
Used trailers— 1,120 — 1,120 0.2 %
Components, parts and services— 32,755 — 32,755 7.1 %
Equipment and other87,283 25,869 (371)112,781 24.6 %
Total net sales$400,214 $59,744 $(1,142)$458,816 100.0 %
Six Months Ended June 30, 2026Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$522,963 $(979)$521,984 72.5 %
Used trailers— 2,840 — 2,840 0.4 %
Components, parts and services— 65,624 — 65,624 9.1 %
Equipment and other81,867 48,992 (837)130,022 18.0 %
Total net sales$604,830 $117,456 $(1,816)$720,470 100.0 %
Six Months Ended June 30, 2025Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$563,976 $— $(18,441)$545,535 65.0 %
Used trailers— 2,620 — 2,620 0.3 %
Components, parts and services— 64,257 — 64,257 7.7 %
Equipment and other183,041 44,822 (569)227,294 27.1 %
Total net sales$747,017 $111,699 $(19,010)$839,706 100.0 %