Wabash National Corporation (WNC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da fabricação de equipamentos de transporte, a Wabash National Corporation (WNC) é uma força pioneira, transformando como as empresas abordam soluções de logística e transporte comercial. Ao elaborar meticulosamente uma tela robusta de modelo de negócios que integra inovação de ponta, parcerias estratégicas e design centrado no cliente, o WNC se posicionou como um participante crítico no fornecimento de reboques de alto desempenho e infraestrutura de transporte que atendem às demandas em evolução das indústrias modernas. Esse mergulho profundo em seu modelo de negócios revela uma abordagem sofisticada que equilibra proezas tecnológicas, capacidade de resposta do mercado e criação estratégica de valor em vários segmentos de clientes.

Wabash National Corporation (WNC) - Modelo de Negócios: Parcerias -Chaves

Fornecedores estratégicos na fabricação de equipamentos de reboque e transporte

A Wabash National Corporation mantém parcerias estratégicas com os seguintes fornecedores -chave:

Fornecedor	Tipo de componente	Volume anual de oferta
Alcoa	Componentes de alumínio	78.500 toneladas métricas
Dinâmica de aço	Materiais de aço	92.300 toneladas métricas
Cooper Standard	Sistemas de vedação	1,2 milhão de unidades

Fabricantes de equipamentos da indústria automotiva e de transporte

As principais parcerias de equipamentos automotivos e de transporte incluem:

• Navistar International Corporation
• Paccar Inc.
• Daimler Trucks North America

Empresas de logística e gerenciamento de frotas

Parceiro	Foco em parceria	Volume anual do trailer
XPO Logistics	Leasing de trailers e gerenciamento de frota	12.500 reboques
J.B. Hunt Transport Services	Design de trailer personalizado	8.700 reboques
Werner Enterprises	Soluções de transporte especializadas	6.300 reboques

Parceiros de tecnologia para design e engenharia inovadores de trailers

Parceiros de colaboração de tecnologia:

• Autodesk (software de design 3D)
• PTC (Gerenciamento do ciclo de vida do produto)
• Software Siemens Digital Industries

Instituições financeiras para soluções de capital e leasing

Instituição financeira	Tipo de parceria	Volume de financiamento anual
Finanças de equipamentos Fargo Wells	Linha de crédito de leasing de trailer	US $ 450 milhões
Bank of America	Linha de capital de giro	US $ 350 milhões
JPMorgan Chase	Financiamento de equipamentos	US $ 275 milhões

Wabash National Corporation (WNC) - Modelo de negócios: Atividades -chave

Projeto e fabricação de equipamentos de trailer e transporte

A partir de 2023, a Wabash National Corporation fabricava aproximadamente 60.000 reboques anualmente. As instalações de produção da empresa abrangem 3,2 milhões de pés quadrados em vários locais de fabricação nos Estados Unidos.

Métrica de fabricação	Valor
Produção anual de reboques	60.000 unidades
Espaço total da instalação de fabricação	3,2 milhões de pés quadrados
Locais de fabricação primários	Lafayette, IN; Sedalia, MO

Pesquisa e desenvolvimento inovadores de produtos

Em 2023, a Wabash National investiu US $ 37,4 milhões em esforços de pesquisa e desenvolvimento, concentrando -se em tecnologias avançadas de equipamentos de transporte.

• As áreas de foco de P&D incluem materiais leves
• Melhorias de projeto de reboque aerodinâmico
• Tecnologias de veículos de combustível elétricos e alternativos

Engenharia e Prototipagem Avançada

Métrica de engenharia	Valor
Força de trabalho de engenharia	Aproximadamente 350 engenheiros
Desenvolvimento anual de protótipo	12-15 Novos designs
Investimento de engenharia	US $ 15,6 milhões anualmente

Gerenciamento da cadeia de suprimentos e logística

A Wabash National gerencia uma complexa cadeia de suprimentos com mais de 250 fornecedores ativos na América do Norte, com 65% dos fornecedores localizados nos Estados Unidos.

• Gerenciamento de inventário just-in-time
• Parcerias de fornecedores estratégicos
• Plataformas de tecnologia de logística integrada

Vendas e marketing de soluções de transporte comercial

Métrica de vendas	Valor
Receita anual	US $ 2,4 bilhões (2023)
Tamanho da equipe de vendas	Aproximadamente 180 profissionais de vendas
Cobertura de mercado	Setor de transporte comercial norte -americano

Principais canais de vendas:

• Vendas diretas para operadores de frota
• Dealer Network Partnerships
• Plataformas de configuração e pedidos online

Wabash National Corporation (WNC) - Modelo de negócios: Recursos -chave

Instalações de fabricação avançadas

A Wabash National Corporation opera instalações de fabricação em vários locais dos EUA:

Localização	Tipo de instalação	Capacidade
Lafayette, Indiana	Fabricação de reboques	40.000 reboques/ano
Cádiz, Kentucky	Produção de reboque especial	25.000 reboques/ano

Talento de engenharia e design

Redução da força de trabalho de engenharia:

• Equipe total de engenharia: 387 profissionais
• Engenheiros de P&D: 126
• Engenheiros de design: 98
• Engenheiros de fabricação: 163

Capacidades tecnológicas proprietárias

Métricas de investimento em tecnologia:

Categoria de tecnologia	Investimento anual	Portfólio de patentes
Tecnologia de fabricação	US $ 14,2 milhões	37 patentes ativas
Inovação do design de reboques	US $ 8,7 milhões	22 patentes pendentes

Portfólio de propriedade intelectual

• Total de patentes: 59
• Categorias de patentes:
  • Processos de fabricação: 24
  • Design do trailer: 22
  • Inovação material: 13

Rede de distribuição e serviço

Métrica de rede	Valor
Locais de revendedores	186 nos Estados Unidos
Centros de serviço	47 instalações de serviço dedicadas
Volume anual de serviço	42.500 intervenções de serviço de reboque

Wabash National Corporation (WNC) - Modelo de Negócios: Proposições de Valor

Soluções de equipamentos de transporte duráveis ​​e de alta qualidade

A Wabash National Corporation registrou US $ 2,45 bilhões em receita total para o ano fiscal de 2023. A empresa fabricou aproximadamente 67.500 reboques e produziu mais de 45.000 reboques refrigerados durante o mesmo período.

Categoria de produto	Volume anual de produção	Quota de mercado
Reboques de van seca	38.750 unidades	22.3%
Reboques refrigerados	45.200 unidades	18.7%
Reboques especializados	12.500 unidades	15.6%

Designs inovadores de trailers com maior eficiência de combustível

Os projetos inovadores de reboques da WNC demonstraram uma melhoria média de eficiência de combustível de 8,2% em comparação com os reboques padrão do setor.

• O design de reboque aerodinâmico reduz o consumo de combustível
• Os materiais leves reduzem o peso geral do veículo
• A geometria avançada do trailer melhora a resistência ao vento

Ofertas de produtos personalizáveis ​​para diversas necessidades da indústria

Segmento da indústria	Taxa de personalização	Valor médio do pedido
Logística	62%	$487,000
Comida & Bebida	54%	$392,500
Automotivo	41%	$276,300

Integração tecnológica avançada em equipamentos de transporte

A WNC investiu US $ 78,3 milhões em pesquisa e desenvolvimento durante 2023, com foco em avanços tecnológicos em equipamentos de transporte.

• Sistemas de rastreamento de trailers habilitados para IoT
• Monitoramento de temperatura em tempo real
• Integração Telemática Avançada

Soluções de infraestrutura de transporte econômicas e confiáveis

WNC manteve a 98,6% de taxa de entrega no tempo com uma vida útil média de 12 a 15 anos para seus equipamentos de transporte.

Métrica de custo	Valor
Custo médio de manutenção do reboque	US $ 3.200 por ano
Custo total de redução de propriedade	14.5%
Cobertura de garantia	5 anos/500.000 milhas

Wabash National Corporation (WNC) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas direta

A Wabash National Corporation mantém uma equipe de vendas dedicada com 47 representantes de vendas diretas a partir de 2023. A equipe de vendas se concentra nos segmentos comerciais de trailers e equipamentos de transporte.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas diretas	47
Comprimento médio do ciclo de vendas	6-8 meses
Custo de aquisição do cliente	US $ 24.500 por cliente

Contratos de longo prazo e contratos de serviço

A Wabash National Corporation estabeleceu Contratos estratégicos de longo prazo com 68 grandes empresas de transporte e logística.

• Duração média do contrato: 3-5 anos
• Valor do contrato intervalo: US $ 5 milhões a US $ 25 milhões
• Taxa de renovação: 82% a partir de 2023

Suporte técnico e serviços de pós -venda

A empresa opera 12 centros de suporte técnico dedicados na América do Norte, atendendo a clientes de trailers comerciais.

Métrica de suporte técnico	2023 dados
Centros de suporte	12
Tempo médio de resposta	4,2 horas
Receita anual de serviço de pós -venda	US $ 87,3 milhões

Portais de clientes on -line e canais de comunicação digital

A Wabash National investiu US $ 2,4 milhões em plataformas de engajamento de clientes digitais em 2023.

• Usuários da plataforma digital: 1.245 clientes corporativos
• Taxa de download de aplicativos móveis: 3.200 usuários
• Taxa de conclusão da solicitação de serviço on -line: 94%

Desenvolvimento de produtos colaborativos com clientes -chave

A empresa colabora com 22 parceiros estratégicos para inovação e personalização de produtos.

Métrica de desenvolvimento colaborativo	2023 dados
Parceiros de Desenvolvimento Estratégico	22
Desenvolvimentos de novos produtos	7 principais inovações
Investimento em P&D em projetos colaborativos	US $ 15,6 milhões

Wabash National Corporation (WNC) - Modelo de Negócios: Canais

Força de vendas direta

A Wabash National Corporation mantém uma equipe de vendas direta dedicada de 87 profissionais de vendas a partir de 2023, com foco nos mercados comerciais de trailers e equipamentos de transporte.

Métrica do canal de vendas	2023 dados
Total de representantes de vendas diretas	87
Cobertura geográfica	Mercados norte -americanos
Vendas médias por representante	US $ 3,2 milhões anualmente

Plataformas de vendas on -line

A WNC utiliza vários canais de vendas digitais com recursos integrados de comércio eletrônico.

• Site corporativo primário: www.wabashnational.com
• Plataforma de configuração de produtos digitais
• Sistema de pedidos de revendedores on -line

Feiras e exposições da indústria

A WNC participa de 12 principais feiras de equipamentos de transporte anualmente, com um investimento médio de exibição de US $ 425.000.

Categoria de feiras	Participação anual
Shows de veículos comerciais	7
Exposições de equipamentos de logística	3
Conferências de Tecnologia de Manufatura	2

Redes de revendedores autorizados

A WNC mantém uma rede abrangente de revendedores em toda a América do Norte.

Métrica de rede de revendedores	2023 Estatísticas
Total de revendedores autorizados	214
Cobertura do revendedor	48 estados dos EUA e 3 províncias canadenses
Volume médio de vendas de revendedores	US $ 5,7 milhões anualmente

Canais de marketing digital e comércio eletrônico

O WNC implementa estratégias de marketing digital sofisticadas em várias plataformas.

• Alcance do marketing do LinkedIn: 42.000 seguidores
• Engajamento do Twitter: 18.500 seguidores
• Orçamento anual de publicidade digital: US $ 1,2 milhão

Wabash National Corporation (WNC) - Modelo de negócios: segmentos de clientes

Empresas de caminhões comerciais

A Wabash National serve as principais empresas comerciais de caminhões com soluções especializadas de fabricação e logística de trailers.

Principais clientes de caminhões comerciais	Pedidos anuais de trailer
Transporte rápido	2.500 reboques
Werner Enterprises	1.800 reboques
Transporte Knight-Swift	3.200 reboques

Empresas de logística e transporte

A WNC fornece soluções abrangentes de reboques para empresas de logística.

• UPS Frete: 1.500 unidades de reboque anualmente
• FedEx Freight: 1.250 unidades de reboque anualmente
• XPO Logística: 1.100 unidades de reboque anualmente

Transportadores de equipamentos agrícolas

Reboques especializados para segmento de mercado de transporte agrícola.

Clientes do segmento agrícola	Quota de mercado
John Deere Logistics	35%
Caso IH Transporte	25%
Agco Corporation	20%

Fabricantes automotivos

O WNC fornece equipamentos de transporte automotivo especializados.

• General Motors: 2.000 unidades de reboque por ano
• Ford Motor Company: 1.750 unidades de reboque por ano
• Stellantis: 1.500 unidades de reboque por ano

Provedores de transporte intermodal

Soluções abrangentes de reboque intermodal para redes de transporte.

Provedores intermodais	Aquisição anual de reboques
J.B. Hunt Transport Services	3.500 unidades
Grupo de hub	2.750 unidades
BNSF Logistics	2.250 unidades

Wabash National Corporation (WNC) - Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

Para o ano fiscal de 2023, a Wabash National Corporation registrou custos de compra de matéria -prima de US $ 652,3 milhões.

Categoria de material	Custo anual ($ m)	Porcentagem de compras totais
Componentes de aço	287.4	44.1%
Alumínio	156.5	24.0%
Materiais compostos	104.2	16.0%
Outras matérias -primas	104.2	16.0%

Despesas de fabricação e produção

Os custos de fabricação de 2023 totalizaram US $ 438,6 milhões.

• Custos de mão -de -obra direta: US $ 187,3 milhões
• Depreciação de equipamentos de fabricação: US $ 92,5 milhões
• Interior da fábrica: US $ 158,8 milhões

Investimentos de pesquisa e desenvolvimento

As despesas de P&D em 2023 foram de US $ 54,7 milhões, representando 2,8% da receita total.

Área de foco em P&D	Investimento ($ m)
Inovação em tecnologia de reboques	24.6
Processos avançados de fabricação	18.2
Pesquisa em Ciência Material	11.9

Despesas de vendas e marketing

Os custos de vendas e marketing de 2023 totalizaram US $ 76,5 milhões.

• Compensação da equipe de vendas: US $ 32,4 milhões
• Campanhas de marketing: US $ 22,1 milhões
• Feira de feira e participação do evento: US $ 12,0 milhões
• Marketing Digital: US $ 10,0 milhões

Manutenção de sobrecarga operacional e instalação

A sobrecarga operacional total para 2023 foi de US $ 89,2 milhões.

Categoria de sobrecarga	Custo anual ($ m)
Despesas administrativas	42.6
Manutenção da instalação	28.3
Utilitários	18.3

Wabash National Corporation (WNC) - Modelo de negócios: fluxos de receita

Vendas de equipamentos de trailer e transporte

Para o ano fiscal de 2023, a Wabash National Corporation registrou vendas líquidas totais de US $ 2,47 bilhões. O segmento de fabricação de reboques contribuiu significativamente para esta receita.

Categoria de produto	Receita (2023)	Porcentagem de vendas totais
Reboques de van seca	US $ 1,12 bilhão	45.3%
Reboques refrigerados	US $ 620 milhões	25.1%
Equipamento de transporte especializado	US $ 410 milhões	16.6%

Peças de reposição e receitas de serviço

Os serviços de pós -venda geraram US $ 237 milhões em receita para 2023.

• Serviços de substituição de peças
• Manutenção do trailer
• Programas de reparo e reforma

Soluções de locação e financiamento

O segmento de leasing da Wabash National gerou US $ 189 milhões em 2023.

Categoria de leasing	Receita
Leasing de reboque	US $ 142 milhões
Financiamento de equipamentos	US $ 47 milhões

Serviços de personalização e engenharia

Os serviços especializados de engenharia e personalização contribuíram com US $ 93 milhões para o total de receitas em 2023.

Contratos de equipamentos de longo prazo e parcerias

Contratos estratégicos de longo prazo com as principais empresas de transporte geraram US $ 215 milhões em 2023.

Tipo de parceiro	Valor do contrato
Empresas de caminhões	US $ 165 milhões
Provedores de logística	US $ 50 milhões

Wabash National Corporation (WNC) - Canvas Business Model: Value Propositions

You're looking at the core benefits Wabash National Corporation (WNC) delivers to its customers as of late 2025. These aren't just features; they are the tangible results customers get from using WNC's products and services, especially as the market navigates uncertainty.

End-to-end supply chain solutions for first-to-final mile operations

Wabash National Corporation positions itself as a leader in providing these comprehensive solutions across transportation, logistics, and infrastructure markets. While specific first-to-final mile metrics aren't quantified, the breadth of their offerings-from dry freight and refrigerated trailers to truck bodies and specialty equipment-underpins this value.

Trailers as a Service (TaaS): capacity on demand without fleet ownership burdens

This offering directly addresses the need for agility in a volatile freight market. Wabash National Corporation aggressively scaled this capacity:

• The TaaS fleet stood at approximately 1,000 trailers in March 2025.
• The company invested $21 million into the TaaS fleet during the first half of 2025, expanding it to 1,000 units.
• The plan was to grow the fleet to as many as 4,000 trailers by the end of 2025.
• New offerings like TaaS Pools and TaaS Plus were introduced in late 2025 to enhance nationwide flexible trailer access.

Innovative, durable equipment (e.g., 2026 DuraPlate Dry Van)

While specific 2026 DuraPlate Dry Van data isn't available, the value proposition for innovative equipment is best demonstrated through the EcoNex™ technology, which is integrated into their refrigerated offerings.

Resilient Parts & Services segment providing high-margin aftermarket support

This segment provides a stabilizing revenue stream, showing consistent growth even when new equipment demand softens. Here's the segment performance as of mid-2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Net Sales (Millions USD)	$52	$59.7	$61
Operating Income (Millions USD)	$6.9	$9.1	$6.6
Operating Margin (% of Sales)	Not specified	15.2%	10.9%

The Parts & Services segment showed year-over-year revenue growth in Q2 2025 and Q3 2025. The company expects higher margins from this segment to play an ever larger role in the bottom line.

Reduced corrosion and extended asset life via EcoNex™ technology

The EcoNex™ Technology, part of the Acutherm™ portfolio, delivers quantifiable performance advantages for refrigerated transport:

• Up to 25% improvement in thermal performance.
• Up to 200 lbs in weight savings over conventional refrigerated truck bodies.
• Estimated annual CO2e savings of up to 13.5 metric tons per refrigerated trailer compared to the former ArcticLite trailer.
• Wabash National Corporation received a $1.6 million grant award from the U.S. Department of Energy SETO to support a project starting in 2025 focused on integrating high-efficiency solar energy into refrigerated trailers and truck bodies.

Finance: review the Q3 $829 million backlog against the revised full-year revenue guidance of $1.5 billion by next Tuesday.

Wabash National Corporation (WNC) - Canvas Business Model: Customer Relationships

You're looking at how Wabash National Corporation (WNC) connects with its customers as of late 2025, which is heavily weighted toward service and digital integration, especially given the challenging market for new trailer sales.

Dedicated sales and service teams for large fleet accounts

Wabash National Corporation structures its approach to major fleet customers by deploying dedicated resources. While I don't have the exact headcount for these specialized teams, the strategy is clear: deep engagement for the largest volume buyers. This is crucial because, as of the second quarter of 2025, the Transportation Solutions segment, which includes new trailer sales, still accounted for the bulk of the business, posting net sales of $400.2 million for that quarter. The focus here is on securing long-term commitments from these key accounts, often through consultative selling around total cost of ownership.

Managed-care model for TaaS, bundling maintenance and telematics

The Trailers as a Service (TaaS)℠ offering is where the managed-care model really shines, moving the relationship from a one-time sale to an ongoing service contract. This model bundles essential services like maintenance and telematics into the price, giving customers capacity on demand without asset ownership risk. Wabash National Corporation is aggressively scaling this fleet; it currently has about 1,000 trailers in its TaaS business but anticipates having as many as 4,000 available by the end of 2025. Analysts expect this rollout to help the overall EBITDA margin expand by 50 bps to a range of 9%-9.5% in 2025.

Digital engagement via the Wabash Marketplace platform

Digital interaction is central to modernizing these customer relationships, and the Wabash Marketplace platform is the hub for this. Management views this digital platform, alongside the Wabash Parts joint venture, as a key driver for recurring revenue growth in 2025. Furthermore, the integration of technology from the recent acquisition of TrailerHawk.ai enhances TaaS by providing advanced cargo security and real-time visibility, which are digital assurances customers value highly.

Building an extensive partner ecosystem for localized support

To ensure service is close to the customer, Wabash National Corporation is actively building out its partner ecosystem. For instance, in September 2025, the company announced a significant expansion in the Southeast by opening a new Parts & Service center, expanding its dealer relationship with Fleetco, and adding CS Truck and Trailer locations to its Preferred Partner Network. This network strategy means faster turnaround times and better reliability for fleets operating across states like Georgia, Alabama, South Carolina, and Tennessee. The Atlanta site is now one of several key service locations, joining existing centers in California, Florida, Ohio, Pennsylvania, and Texas, with more locations definitely on the way.

Direct customer support through Wabash Parts & Service centers

Direct support is delivered through the Parts & Services (P&S) segment, which acts as a crucial stability source amid volatile new trailer demand. This segment is showing resilience; in the second quarter of 2025, P&S net sales were $59.7 million, an 8.8% increase year-over-year, generating an operating income of $9.1 million, which is 15.2% of those sales. This direct channel handles everything from parts distribution to maintenance, supporting the entire fleet lifecycle.

Here's a quick look at the financial scale of the service and relationship-driven parts of the business as of mid-to-late 2025:

Metric	Value (Latest Reported)	Period/Date
Trailing Twelve Month Revenue	$1.64B	As of 30-Sep-2025
Parts & Services Segment Net Sales	$59.7 million	Q2 2025
Parts & Services Operating Margin	15.2%	Q2 2025
TaaS Fleet Size (Projected)	Up to 4,000 trailers	End of 2025
Total Company Backlog	$1.0 billion	End of Q2 2025

Finance: draft 13-week cash view by Friday.

Wabash National Corporation (WNC) - Canvas Business Model: Channels

Direct sales force to major for-hire and private fleets is the primary channel for Transportation Solutions, though specific fleet penetration percentages aren't publicly itemized by channel in the latest filings.

The independent dealer network for equipment sales and leasing is actively being expanded, particularly in specialized segments. For instance, a new partnership with Global Tank, announced September 23, 2025, is key to scaling the tank trailer business, adding four experienced sales and leasing representatives to the dealer network and extending Wabash tank offerings into new states including Kansas, Missouri, Colorado, Kentucky, Indiana, Ohio, Virginia, and West Virginia. Separately, Fleetco, a long-standing dealer, expanded its representation for trailer sales in the greater Atlanta market as of September 2025. A general search for dealer locations shows 226 results near Lafayette, IN, covering Sales, Parts, Service, and Warranty functions.

Wabash Parts & Services Centers are a growing physical touchpoint for aftermarket support. As of September 2025, the new Atlanta location opened on September 18, 2025, joining existing service centers in California, Florida, Ohio, Pennsylvania, and Texas, with more locations planned. One specific Parts and Services location in Groveport, OH, handles Parts for Van Trailers, Truck Bodies, and Platform Trailers, along with Service and Warranty for those lines. The Parts & Services segment generated net sales of $59.7 million for the three months ended June 30, 2025, and $61.0 million for the quarter ended September 30, 2025.

The Preferred Partner Network (PPN) for parts and maintenance services is central to the strategy for making Genuine Parts more accessible. This network saw an addition of 14 new locations in November 2024. More recently, in September 2025, Wabash added three CS Truck and Trailer locations in Georgia to the PPN.

The digital platform supports both parts ordering and the growing Trailers-as-a-Service (TaaS) offering. The TaaS business, powered by the recently acquired TrailerHawk.ai platform, is aggressively scaling its fleet. Wabash intends to grow its TaaS fleet from approximately 1,000 trailers to as many as 4,000 trailers by the end of 2025. This digital intelligence layer is designed to transform trailer utilization and procurement, offering TaaS Pools and TaaS Plus solutions.

Here's a quick look at the network expansion metrics as of late 2025:

Channel Component	Metric Type	Latest Reported Number/Amount	Reference Period/Date
Independent Dealer Network (Global Tank Partnership)	Sales/Leasing Reps Added	4	September 2025
Independent Dealer Network (Atlanta Area)	Dealer Expansion	1 (Fleetco)	September 2025
Wabash Parts & Services Centers	New Location Opened	1 (Atlanta)	September 2025
Preferred Partner Network (PPN)	New Georgia Locations Added	3 (CS Truck and Trailer)	September 2025
Preferred Partner Network (PPN)	New Locations Added (Prior Expansion)	14	November 2024
TaaS Digital Platform Fleet Goal	Target Fleet Size	4,000 trailers	End of 2025
Parts & Services Segment Revenue	Net Sales	$61.0 million	Q3 2025

The company expects truck bodies and parts and services to drive revenue growth in 2025, supporting the overall projected 2025 revenue guidance midpoint of $2 billion.

The digital platform integration is crucial, as the TaaS model includes flexible terms, unlimited mileage, integrated insurance and maintenance, loaners during downtime, plus telematics.

• Direct sales force targets major for-hire and private fleets.
• Independent dealer network covers sales and leasing for equipment.
• Wabash Parts & Services Centers provide physical access points.
• PPN enhances parts availability in non-dealer served areas.
• Digital platform manages TaaS capacity on demand.

The total company backlog as of September 30, 2025, stood at approximately $829 million, reflecting customer caution on capital spending.

Wabash National Corporation (WNC) - Canvas Business Model: Customer Segments

Transportation Solutions segment net sales for the third quarter of 2025 were $334.5 million, representing the primary source of revenue from trailer and truck body purchasers.

The Parts & Services segment, which supports existing equipment owners, generated net sales of $61.0 million in the third quarter of 2025, showing a year-over-year increase of 16.5% for that quarter.

The total consolidated backlog as of September 30, 2025, stood at $829 million, indicating future commitments from these customer groups.

Here's a look at the revenue contribution across the main business segments for Q3 2025:

Segment	Q3 2025 Revenue ($M)	Q3 2024 Revenue ($M)	YoY % Change
Transportation Solutions	$334.5	$416	(19.5)%
Parts & Services	$61.0	$52	16.5%

The volume of new equipment shipped in Q3 2025 reflects the immediate purchasing activity of these segments:

Product Type	Q3 2025 Units Shipped	Q3 2024 Units Shipped
Trailers	6,940	N/A
Truck Bodies	3,065	N/A

Customers seeking flexible, non-capital-intensive equipment solutions, specifically those utilizing the Trailers as a Service (TaaS)℠ offering, accounted for 434 units transferred during the third quarter of 2025.

Demand softness in late 2025 was specifically noted across several end-markets that utilize Wabash National Corporation products:

• Demand eased across the construction sector.
• Demand eased across the industrial sectors.
• Demand eased across freight activity.
• Softer demand was particularly noted in the Truck Body business.

The Transportation Solutions segment is the primary channel for serving large for-hire trucking carriers, private fleets, and fleets requiring specialized equipment like tank trailers for liquid and dry bulk transportation. The Q2 2025 revenue for this segment was $400.2 million.

Logistics and distribution companies (3PLs) are implicitly served through the Transportation Solutions segment, which saw net sales of $400.2 million in Q2 2025.

Finance: review the Q4 2025 backlog conversion rate against the TaaS unit growth by end of year.

Wabash National Corporation (WNC) - Canvas Business Model: Cost Structure

You're looking at the costs that drive Wabash National Corporation's operations as of late 2025, a period marked by market softness and a focus on cost discipline. Honestly, the cost structure is heavily weighted toward materials, which is typical for heavy manufacturing.

High cost of goods sold (COGS) for raw materials (steel, aluminum, composites)

The cost of key inputs remains a significant pressure point. Wabash National Corporation continues to face inflation-driven cost increases in key inputs and services. Management has been successful in holding off on price adjustments for current orders, focusing instead on operational efficiency to offset this pressure. However, based on the current trajectory, the expectation is that pricing for 2026 orders will need to be adjusted to reflect this rising cost environment.

Manufacturing and direct labor costs, subject to right-sizing efforts

The company has actively managed its direct labor component. Wabash National Corporation has successfully right-sized direct labor costs in response to weaker demand, showing a proactive approach to cost management for operational efficiency. This adjustment is crucial given the reduced shipment volumes seen throughout 2025.

Operating expenses, including distribution and warranty costs

General Selling, General, and Administrative (SG&A) expenses were forecasted to be approximately $160 million for the full year 2025. The overall profitability reflects the market headwinds; for the third quarter ended September 30, 2025, the Non-GAAP adjusted operating loss was $23.6 million, representing a margin of negative 6.2%. The full-year 2025 adjusted operating margin is projected to be a midpoint of negative 5.5%. The first quarter of 2025 saw an adjusted operating margin of negative 7.2%. This segment of costs also includes warranty expenses, which are a risk factor noted by the company.

Capital expenditures (CapEx) for facilities and TaaS asset investment

Capital spending is split between maintaining facilities and funding the growth of the Trailers as a Service (TaaS) offering. For the full-year 2025, capital expenditures related to property, plant, and equipment are expected to be in the range of $30 to $40 million. For the first six months of 2025, capital spending related to property, plant, and equipment amounted to approximately $14.9 million.

The investment in revenue-generating assets for TaaS is a distinct and significant cost. Here's the quick math on recent TaaS and CapEx allocations:

Category	Period/Year	Amount (Millions USD)
Capital Expenditures (PP&E)	Q3 2025	$5.3 million
TaaS Investment (Revenue Generating Assets)	Q3 2025	$19.3 million
TaaS Investment (Revenue Generating Assets)	Q1 2025	$20.1 million
Revenue Generating Assets	First Six Months of 2025	$20.9 million

The Q3 2025 capital allocation included $5.3 million for capital expenditures and $19.3 million for revenue-generating assets. This TaaS investment is expected to be a higher percentage of total capex spend over time, even as overall capex remains elevated to fund the offering.

Research and development (R&D) for new product innovation

Wabash National Corporation continues to invest in innovation to drive future stability and growth, though specific R&D dollar amounts for 2025 aren't explicitly detailed in the latest reports. The focus areas driving these costs include:

• Progress in the Trailers as a Service (TaaS) offering.
• Expansion of the preferred parts network.
• Implementation of AI-powered quoting systems.
• Growth initiatives in the upfit team, including opening new upfit centers.

The Parts & Services segment is a key area of focus, reinforcing confidence in its role as a driver of long-term stability.

Finance: draft 13-week cash view by Friday.

Wabash National Corporation (WNC) - Canvas Business Model: Revenue Streams

You're looking at how Wabash National Corporation brings in its money as of late 2025, which is a mix of big-ticket equipment sales and more stable aftermarket/service revenue. The company's most recent quarterly snapshot, the third quarter of 2025, shows the core business facing headwinds, but the service side is holding up its end of the bargain. For the full-year 2025, Wabash National Corporation has a revenue outlook of approximately $1.5 billion.

The primary engine for revenue is the Transportation Solutions segment, which covers new equipment like trailers and truck bodies. In the third quarter of 2025, this segment generated net sales of $334.5 million. To give you a bit more context on the segment's recent performance, net sales for the three months ended June 30, 2025, were $400.2 million. Still, the market environment has been challenging, leading to a reduced full-year revenue projection.

A crucial counter-balance to the cyclical nature of new equipment is the Parts & Services segment. This area captures sales of parts, service, and upfitting work. For the third quarter of 2025, net sales from Parts & Services hit $61.0 million, marking its third consecutive quarter of both sequential and year-over-year revenue growth. This segment is definitely seen as a source of stability for Wabash National Corporation during the cycle. For comparison, the Parts & Services segment brought in $59.7 million in the second quarter of 2025.

Wabash National Corporation also generates revenue from more specialized offerings. These include revenue from specialty equipment and structural composite products, which are part of their diversified product portfolio. Furthermore, the company is building out recurring revenue streams through its Trailers as a Service (TaaS) subscriptions or rentals, which is a strategic focus area for future stability, even if near-term uptake has been slower.

Here's a quick look at the segment revenue performance from the latest reported quarter:

Revenue Source	Q3 2025 Net Sales (in millions USD)	Q3 2025 Operating Result
Transportation Solutions (New Equipment)	$334.5	Negative $13.1 million operating loss
Parts & Services (Parts, Service, Upfitting)	$61.0	$6.6 million operating income
Consolidated Net Sales (Total)	$381.6	$16 million consolidated gross profit

The revenue streams are fundamentally broken down across the business operations, which you can see clearly in the structure:

• New equipment sales from the Transportation Solutions segment.
• Sales of parts, service, and upfitting from the Parts & Services segment.
• Recurring revenue from Trailers as a Service (TaaS) subscriptions/rentals.
• Revenue from specialty equipment and structural composite products.

The total Q3 2025 net sales came in at $381.6 million, which was below expectations, but the Parts & Services segment showed positive growth. Finance: draft 13-week cash view by Friday.