Wabash National Corp. (NYSE:WNC) Q1 2020 Earnings Conference Call - Final Transcript

May 14, 2020 • 10:00 am ET


Wabash National Corp. (NYSE:WNC) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. And welcome to the Q1 2020 Wabash National Earnings Conference Call. [Operator Instructions]. And after this speaker presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Ryan Reed, Director of Investor Relations. Thank you. Please go ahead, sir.

Ryan Reed

Thank you, Felicia. Good morning, everyone and thanks for joining us on this call. With me today are Brent Yeagy, President and Chief Executive Officer; and Mike Pettit, Chief Financial Officer. Couple items before we get started. First, please note that this call is being recorded. I'd also like to point out that our earnings release, the slide presentation supplementing today's call and any non-GAAP reconciliations are all available at ir.wabashnational.com. Please refer to Slide 2 in our earnings deck for the Company's Safe Harbor disclosure addressing forward-looking statements.

I'll now hand it over to Brent, and ask that you please refer to Slide 3.

Brent L. Yeagy

Thanks, Ryan. Good morning, everybody. And thank you for joining us today. Let me begin by saying that we hope you and your families are healthy and that each of you have found a way to better connect with those you love. The world has changed at a remarkable pace since our Q4 earnings call. We have a lot of topics to get everyone up to speed on with regard to the current environment, the state of our strong liquidity position, current customer sentiment and our supply chain stability.

It is also -- I'd also like to offer some thoughts and perspective on the Company's performance through the last recession in the 2008 to 2009 time frame and why we expect this experience to be very different.

However, before we get into those details, I'd like to start by sharing the steps we're taking to safeguard the health, wellness and safety of our people. As we are an essential business, we have continued to operate from the onset of this pandemic. Wabash products and services enable our customers to transform critical goods, whether it's tank trailers hauling feedstocks, the pharmaceutical processors, refrigerated trailers transporting fresh food to groceries or our truck bodies completing the last leg of the journey in delivering goods to the home.

We've been part of assuring that vital supplies and basic needs have been met, which has allowed people to stay home more comfortably and social distance more effectively.

We've initiated a Company-wide business continuity effort that has been helping us navigate through this extraordinary time with agility and speed. In addition, we've made organizational changes throughout our Company to facilitate bringing fast and deliberate decisions to action as we act on and within the business to best manage this dynamic landscape.

We have made frequent, candid and empathetic communication with all of our employees, customers and suppliers, a top priority, as we put plans in place around the current and anticipated disruption to the economy, our supply chain and general work practices