Wabash reports Q1 non-GAAP EPS (58c) vs. 39c last year.

Reports Q1 revenue $381M vs. $515.28M last year. “During Q1, our GAAP EPS was $5.36, primarily as a result of recognizing a $342M gain in connection with the reduction of a legal verdict,” said CEO Brent Yeagy. “While the reduction in this verdict was a positive development in our efforts to bring this matter to a more reasonable conclusion, there is more work to do, highlighted by our recent filing of notice of appeal. Excluding the gain, non-GAAP adjusted EPS was (58c) during Q1 as revenue came in below our expectations amid a general weakening in market conditions. We have since reduced direct labor to align cost with market conditions. While tariff-related uncertainty has caused customers to delay equipment investment decisions, it’s important to highlight the growth in our Parts & Services segment, which we see as an important longer-term source of stability for our portfolio.”