Wabash Authorizes $100 Million Stock Repurchase Program

Wabash National Corporation announced that its board of directors has authorized the company to repurchase up to $100 million of its common stock over a two-year period.

 This is a new repurchase authorization as the $60 million previously authorized in December 2014 has been fully utilized. Stock repurchases under this program may be made in the open market or in private transactions at times and in amounts determined by the company.

Wabash, at its sole discretion, may limit or terminate the stock repurchase program at any time based on market conditions, liquidity needs or other factors. The program is intended to enhance shareholder value by reducing the overall number of outstanding shares, including by offsetting dilution resulting from stock-based compensation programs. 

Dick Giromini, President and Chief Executive Officer, said, "Board authorization of a new share repurchase program validates our continued commitment to a balanced capital allocation plan that includes a return of capital to our shareholders. We are taking this action as part of our ongoing commitment to reward shareholders based on the confidence we have in Wabash’s earnings, cash flow, and growth potential while continuing to execute our capital allocation strategy. We remain confident that we will have sufficient cash flow to continue an active share repurchase program and grow the business while also maintaining strong liquidity, deleveraging our balance sheet and growing the business."