Werner Enterprises Inc

Latest Results (07.01.2025):

Revenue Decline

Werner Enterprises Inc reported total revenues of $745.7 million for the third quarter of 2024, marking a 9% decrease compared to the same quarter in 2023. This decline was primarily driven by a $49.4 million decrease in Truckload Transportation Services revenues and a $23.5 million drop in Logistics revenues. A significant portion of the revenue decline was attributed to a $20.0 million reduction in fuel surcharge revenues.

Operating Income and Margin

For the third quarter of 2024, Werner Enterprises Inc's operating income was $17.6 million, a 54% decrease from the previous year. The operating margin also saw a decline, dropping 220 basis points to 2.4%. On a non-GAAP basis, the adjusted operating income was $21.6 million, down 48%, with an adjusted operating margin of 2.9%, also down 220 basis points.

Earnings Per Share

Werner Enterprises Inc reported a diluted earnings per share (EPS) of $0.11 for the third quarter of 2024, representing a 72% decrease from the same period in 2023. On a non-GAAP basis, the adjusted diluted EPS was $0.15, which was a 64% decline year-over-year.

Truckload Transportation Services Performance

The Truckload Transportation Services segment of Werner Enterprises Inc reported revenues of $522.8 million for the third quarter of 2024, a 9% decrease from the previous year. The segment's operating income was $21.6 million, down $17.2 million, with an operating margin of 4.1%, a decrease of 270 basis points from the prior year.

Logistics Segment Results

In the third quarter of 2024, Werner Enterprises Inc's Logistics segment reported revenues of $206.8 million, a 10% decrease compared to the same quarter in 2023. The segment experienced an operating loss of $0.3 million, compared to a $2.0 million operating income in the previous year. The adjusted operating income was $0.8 million, down $2.4 million year-over-year.