Werner’s 1Q Income Declines

Truckload carrier Werner Enterprises said its first-quarter profit declined 29% on lower demand.

Net income fell to $15.7 million or 21 cents a share, from $22 million or 27 cents a year ago. Revenue rose 2% to $503.9 million, Werner said late Monday.

Werner cited “ an increase in truck capacity and softness in freight demand” and rising fuel prices as some of the quarter’s challenging factors.

The company said the “driver market remains challenging, but is less difficult than a year ago.”

Its brokerage segment showed strong results, with a 32% increase in revenue and $800,000 in operating income improvement.

Werner is ranked No. 16 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.