Werner announces solid operating results

Werner Enterprises reports stable revenues of $2.46bn in 2019, despite 4% Y-o-Y drop in Q4.

Werner Enterprises has announced revenues of $2,457m for 2018. This represents an increase of 16.1% against 2017 figures. Operating income grew 55.9% to $224m, but net income fell 19.1% to $168m.

In the Truckload Transportation Services (TTS) segment, revenues increased 15.0% to $1,881m. This was due to strong utilisation, with revenue per tractor week up 8.4% year-over-year. Its operating income grew 46.7% to $203m.

Werner Logistics revenues increased by 24.0% to $518m, with all internal elements contributing to growth. Operating profit grew 134.7% to $20m.

In total, the group was able to increase operating profit through cuts in multiple areas of expenditure. It spent $100m less on salaries, wages & benefits, $79m less on rent and purchased transport and $56m less on fuel. However, for 2019, the company stated that in a bull case for the US economy, driver pay increases could be in the mid-to-high single digit percentage range.

Source: Werner Enterprises