Werner Enterprises Profit Declines in Fourth Quarter
Werner Enterprises said its fourth-quarter profit declined from a year ago partially due to higher operating costs and lower miles per truck from severe weather.
Net income was $22.2 million, or 30 cents per share, compared with $26 million, or 35 cents, a year ago. Revenue increased 2% to $517.9 million.
Werner ended the quarter with 7,050 trucks in its truckload segment, a decline of 100 from a year prior.
Full-year net income declined to $86.8 million, or $1.18 per share from $103 million, or $1.40 per share. Revenue was little changed at $2.03 billion.
“We believe there are several truckload capacity constraints including an older industry truck fleet, the higher cost of new trucks and trailers, significant regulatory changes, increased trucking company failures and a challenging driver market,” the company said in a statement.
Werner Enterprises ranks No. 13 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
