Stock Story -
Semi trailers and liquid transportation container manufacturer Wabash (NYSE:WNC) will be reporting results tomorrow before market open. Here's what you need to know.
Wabash met analysts' revenue expectations last quarter, reporting revenues of $515.3 million, down 17% year on year. It was a weak quarter for the company, with a miss of analysts' earnings and backlog sales estimates.
Is Wabash a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Wabash's revenue to decline 13.4% year on year to $594.7 million, a reversal from the 6.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.56 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 2 downward revisions over the last 30 days. Wabash has missed Wall Street's revenue estimates five times over the last two years.
Looking at Wabash's peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Greenbrier's revenues decreased 21% year on year, missing analysts' expectations by 10.9%, and Lindsay reported a revenue decline of 15.4%, falling short of estimates by 3.6%. Greenbrier traded down 6.1% following the results while Lindsay was up 8.6%.
Read the full analysis of Greenbrier's and Lindsay's results on StockStory.
There has been positive sentiment among investors in the heavy machinery segment, with share prices up 6.5% on average over the last month. Wabash is up 7% during the same time and is heading into earnings with an average analyst price target of $26.5 (compared to the current share price of $23.11).
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