Werner’s 3Q Income Dips 11%
Truckload carrier Werner Enterprises’ third-quarter profit declined 11% from a year ago, to $21.9 million or 30 cents per share, from $24.6 million or 31 cents last year.
Revenue fell 6% to $510.3 million, Werner said late Monday. Brokerage revenue rose 16%.
“Freight demand softness and the temporary increase in the supply of trucks caused by the industry truck pre-buy made for continued challenging market conditions during third quarter 2007,” the company said in a statement.
The company also said that while the driver recruitment market remained challenging, it was “not quite as difficult” as the same quarter of last year.
The weakness in the construction market and the company’s van fleet reduction contributed favorably to its recruiting and retention efforts in the quarter, Werner said.
Werner is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
