Yahoo Finance Q1 Rundown: Wabash (NYSE:WNC) Vs Other Heavy Transportation Equipment Stocks
Earnings results often indicate what direction a company will take in the months ahead. With Q1 now behind us, let’s have a look at Wabash (NYSE:WNC) and its peers.
Heavy transportation equipment companies are investing in automated vehicles that increase efficiencies and connected machinery that collects actionable data. Some are also developing electric vehicles and mobility solutions to address customers’ concerns about carbon emissions, creating new sales opportunities. Additionally, they are increasingly offering automated equipment that increases efficiencies and connected machinery that collects actionable data. On the other hand, heavy transportation equipment companies are at the whim of economic cycles. Interest rates, for example, can greatly impact the construction and transport volumes that drive demand for these companies’ offerings.
The 11 heavy transportation equipment stocks we track reported a solid Q1; on average, revenues beat analyst consensus estimates by 2.2%. Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, but heavy transportation equipment stocks have shown resilience, with share prices up 5.1% on average since the previous earnings results.
Weakest Q1: Wabash (NYSE:WNC)
With its first trailer reportedly built on two sawhorses, Wabash (NYSE:WNC) offers semi trailers, liquid transportation containers, truck bodies, and equipment for moving goods.
Wabash reported revenues of $515.3 million, down 17% year on year, in line with analysts' expectations. Overall, it was a weak quarter for the company with a miss of analysts' earnings estimates and a miss of analysts' backlog sales estimates.
"During the first quarter, customer pickups of equipment lagged somewhat behind the pace of our production," said Brent Yeagy, president and chief executive officer.
The stock is down 11.8% since reporting and currently trades at $22.69.
Is now the time to buy Wabash? Access our full analysis of the earnings results here, it's free.
Best Q1: Blue Bird (NASDAQ:BLBD)
With around a century of experience, Blue Bird (NASDAQ:BLBD) is a manufacturer of school buses and complementary parts.
Blue Bird reported revenues of $345.9 million, up 15.4% year on year, outperforming analysts' expectations by 15.9%. It was an incredible quarter for the company with an impressive beat of analysts' earnings estimates.
Blue Bird delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 34.3% since reporting. It currently trades at $50.44.
Is now the time to buy Blue Bird? Access our full analysis of the earnings results here, it's free.
Cummins (NYSE:CMI)
With more than half of the heavy-duty truck market using its engines at one point, Cummins (NYSE:CMI) offers engines and power systems.
Cummins reported revenues of $8.40 billion, flat year on year, in line with analysts' expectations. It was a weaker quarter for the company with a miss of analysts' Engine revenue estimates.
Interestingly, the stock is up 5.1% since the results and currently trades at $298.23.
Read our full analysis of Cummins's results here.
Greenbrier (NYSE:GBX)
Having designed the industry’s first double-decker railcar in the 1980s, Greenbrier (NYSE:GBX) supplies the freight rail transportation industry with railcars and related services.
Greenbrier reported revenues of $820.2 million, down 21% year on year, falling short of analysts' expectations by 10.9%. Zooming out, it was a slower quarter for the company with a miss of analysts' earnings estimates and full-year revenue guidance missing analysts' expectations.
Greenbrier had the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update among its peers. The stock is flat since reporting and currently trades at $48.53.
Read our full, actionable report on Greenbrier here, it's free.
Federal Signal (NYSE:FSS)
Developing sirens that warned of air raid attacks or fallout during the Cold War, Federal Signal (NYSE:FSS) provides safety and emergency equipment for government agencies, municipalities, and industrial companies.
Federal Signal reported revenues of $424.9 million, up 10.2% year on year, in line with analysts' expectations. Overall, it was a solid quarter for the company with an impressive beat of analysts' earnings estimates.
The stock is up 9.5% since reporting and currently trades at $93.28.
Read our full, actionable report on Federal Signal here, it's free.
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