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#	AUTHOR DATE SUBJECT
18	member 2/17/23 4:10PM thoughts here?
Hi Althea, Impressive work on this name. Obviously a lot has changed w/ Covid since you posted this. Do you have any updated thoughts here? Thank you 1 view available tags
17	member 11/11/22 7:13AM Any updated thoughts on WNC if still involved, now at 80 RSI?
Cramer pumped it recently and he is often the kiss of death...thanks in advance for any perspective. 1 view available tags
16	member 8/18/21 5:46PM Re: Re: Thoughts on Q 15
Hi althea, Curious if you have any updated thoughts on WNC. With backlog up to $1.3bn and decent GPM expansion, do you still think we are nearing a cyclical downturn? Also, do you have any updated view available tags
15	member 7/30/20 8:41AM Re: Thoughts on Q 14
Thanks for the question. We have a couple thoughts. The street was mismodeling revenue (-52% YoY) in our view. Sales came in basically in-line with our estimate, which was based on (1) ACT industry shipments (-46%... login to read the rest 4 view available tags
13	member 5/28/20 1:07PM Re: Re: Re: Feb. Orders Fall Plummet (pre-COVID-19 impact), WNC Pulls Guidance, Financial Distress S 12
Thank you for your thorough and high quality update. view available tags
12	member 5/28/20 9:26AM Re: Re: Feb. Orders Fall Plummet (pre-COVID-19 impact), WNC Pulls Guidance, Financial Distress Seems 11
Chalkbaggery – Thanks for the question. Happy to provide an update. We believe the short is as, if not more attractive, as ever. Before getting into the specifics of the recent data, we think that it... login to read the rest 4 view available tags
11	member 5/27/20 10:18AM Re: Feb. Orders Fall Plummet (pre-COVID-19 impact), WNC Pulls Guidance, Financial Distress Seems Lik 10
Hi Althea, wondering how recent order data is trending? Also, are used valued still going down/staying depressed?Surprising this stock is back to early-March levels. A bunch of industrials-related stocks are having a fun time ignoring economic reality view available tags
10	member 3/23/20 8:59AM Feb. Orders Fall Plummet (pre-COVID-19 impact), WNC Pulls Guidance, Financial Distress Seems Likely
Feb. net trailer orders declined -45% YoY / -15% MoM to 12.7k, which was the worst Feb. net order figure since 2009 (5.4k) and worse than 2010 (14.3k). We expect that orders are about to... login to read the rest 1 view available tags
9	member 2/27/20 10:58AM Orders Fall, Used Volumes Spike, New Competitive Capacity. Financial Leverage Coming into Focus?
January net trailer orders declined -42% YoY / -15% MoM to <15k (source: ACT) against easy comps. We were expecting flat MoM orders. Net orders over the last 9, 6, & 3 months have trended in-line... login to read the rest 1 view available tags
8	member 2/12/20 2:56PM Re: Q4 results and 2020 guidance 7
Though there are some puts and takes, we believe the result was worse than we were expecting and, importantly, that management has set itself up for major future disappointments. Their back-loaded annual guidance looks completely... login to read the rest 6 view available tags
6	member 1/31/20 10:22AM Re: Re: MTOR Slashes Trailer Guidance / WNC’s CFO Departure 5
Thanks for the question nathanj. We continue to believe that the current stock price (~$12) does not reflect the decline in sales / profits. MTOR only reduced the midpoint of its sales and EBITDA estimates by... login to read the rest 1 view available tags
4	member 1/30/20 5:21PM MTOR Slashes Trailer Guidance / WNC’s CFO Departure
MTOR Slashes Trailer Guidance: We believe that Meritor’s (ticker: MTOR) fiscal year 2020 (FYE: 9/30/20) guidance reduction today is a clear warning sign for WNC, as MTOR is a major supplier of trailer axles, parts, and... login to read the rest 4 view available tags

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			2015	2016
Price:	7.45	EPS	0.6	1.3
Shares Out. (in M):	28	P/E	14x	7x
Market Cap (in $M):	230	P/FCF	7x	6x
Net Debt (in $M):	-5	EBIT	39	57
TEV (in $M):	390	TEV/EBIT	10x	7x

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