The trailer manufacturer Wabash National Corp. on Wednesday updated and raised guidance it previously provided ahead of releasing its fourth quarter and 2014 earnings.
It expects new trailer shipments exceeded 57,300 units in 2014, above its earlier full year guidance of 54,500 to 56,000 new trailers. It was driven by stronger than anticipated customer pick-ups in all areas of the business, according to the company.
Consolidated net sales for 2014 are estimated to be approximately $1.86 billion, an increase of approximately 14% compared to the previous year. Full year earnings are now anticipated to be in the range of 83 cents to 85 cents per diluted share, a 24% to 27% increase from 2013.
"We are very pleased with the exceptional performance in the fourth quarter as trailer and equipment shipments exceeded our expectations as favorable weather conditions, compared to the prior year period, provided support to these efforts,” said Dick Giromini, president and CEO. “With an exceptionally strong backlog and continued operating improvements, we were able to deliver our third consecutive record-setting quarter and another all-time record year."
Wabash is scheduled to release its fourth quarter and full year 2014 results on Feb. 3, after the close of the financial markets.