Werner’s Net Income Drops 15%
Werner Enterprises Inc. said its profit fell 15% in the third quarter to $21.3 million, or 29 cents a share, from $25.1 million, or 34 cents, a year ago.
Revenue for the truckload carrier increased 1% to $511.7 million, but trucking revenues fell 1% to $321.7 million, Werner said in an Oct. 17 statement.
The Federal Motor Carrier Safety Administration’s new hours-of-service rule for truck drivers, which took effect July 1, reduced per-truck mileage by 2% to 3%. “The company is working closely with its customers and drivers to minimize the impact of these changes or to obtain adequate rate relief,” Werner said in its statement.
Average revenue per mile rose 2.4%, the company said.
Werner Enterprises is ranked No. 13 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.
