RTTNews | Nov 9, 2021 07:39AM EST

07:38 Tuesday, November 9, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Tuesday, Wabash National Corp. (WNC) slashed its earnings outlook for the full-year 2021, to reflect increased supply chain and material cost headwinds.

The company now projects earnings in the range of $0.60 to $0.65 per share for fiscal 2021, down from the prior guidance range of $0.67 to $0.77 per share. The company also initiated its earnings outlook for the fiscal 2022 of $1.70 per share.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $0.69 per share for fiscal 2021 and $1.42 per share for fiscal 2022. Analysts' estimates typically exclude special items.

For the third quarter, the company reported net income of $11.01 million or $0.22 per share, up from $3.89 million or $0.07 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.22 per share, compared to $0.09 per share last year.

Net sales for the quarter grew 37.3 percent to $482.57 million from $351.58 million in the same quarter last year.

The Street was looking for earnings of $0.20 per share on net sales of $514.07 million for the quarter.

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