Wabash: Q2 trailer demand unlike anything in 40 years

Wabash reported a seismic shift in trailer demand during the second quarter of 2026, marking the most aggressive rebound in four decades. The Indiana-based manufacturer sold 8,292 trailers in Q2, up 3.1% year-over-year from 8,043 units and a staggering 54.2% surge from 5,378 trailers in Q1. The company’s backlog ballooned to $956 million, a 14% jump from the prior quarter—the first second-quarter backlog increase in Wabash’s history. CEO Brent Yeagy called the surge unprecedented, noting that customers are shifting from deferral to committed demand after three years of fleet aging. April orders skyrocketed 126% year-over-year, May orders rose 12%, and June orders exploded 144%, with June orders also up 133% compared to May, according to ACT Research. The demand surge forced Wabash to open its 2027 dry van order book early, a move typically reserved for the fall. Yeagy hinted at incremental price increases through late 2026 and more aggressive hikes in 2027, while also suggesting margins could expand as production ramps up. Despite the trailer boom, Wabash posted a $22.6 million net loss in Q2, more than doubling the $9.6 million loss from the same period last year but roughly halving the $45.1 million loss in Q1. Revenue fell 9.1% to $417.2 million compared to $458.8 million in Q2 2025. Truck body sales, however, collapsed 56.7% to 1,380 units from 3,188, and dropped 9.6% from Q1’s 1,527 units. CFO Patrick Keslin attributed the truck body slump to expectations, calling Q2 the low point for the year and forecasting only modest recovery in the second half of 2026. Wabash, the only publicly traded trailer manufacturer, remains a bellwether for sector-wide demand trends.