Werner Posts Higher 3Q Earnings
Werner Enterprises’ third-quarter profit climbed 22% from a year ago, with the truckload carrier citing “consistent strength” in freight demand.
Net income of $26 million, or 36 cents per share was reported, compared with $21.3 million, or 29 cents, a year earlier. Revenue increased 8% to $552 million.
Werner said the strong freight environment primarily was the result of tight freight capacity combined with a “gradually firming economy.”
“Truck capacity is being challenged by an increasingly competitive driver market, trucking company failures and heightened regulatory-cost increases for truck ownership and safety; thus, we expect this favorable demand trend relative to constrained supply will continue,” the company said in its quarterly report.
Werner ended the quarter with 7,060 company and owner-operator trucks in its truckload segment, down from 7,245 a year earlier.
Werner Enterprises ranks No. 14 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
