Werner Enterprises, Inc. Reports 3Q Earnings

Werner Enterprises, Inc. WERN reported revenues and earnings for the third quarter ended September 30, 2014 on Monday.

The company reported total revenue of $551.961 million up 8 percent from the same period in 2013 and above the average estimate of $542.95 million.

Net income was $41.690 million up 22 percent from the same period in 2013.

Diluted earnings per share were $0.36, up from $.029 from the same period in 2013 and in-line with analyst expectations.

The company noted that the “freight market dynamics began showing year-over-year improvement for Werner in mid-November 2013, and that favorable trend has continued for the last eleven months, including the first three weeks of October. A tight capacity market combined with a gradually firming economy were the primary contributing factors. Truck capacity is being challenged by an increasingly competitive driver market, trucking company failures and heightened regulatory cost increases for truck ownership and safety; thus, we expect this favorable demand trend relative to constrained supply will continue.”

According to the press release “Our financial position remains strong. As of September 30, 2014, we had $75.0 million of debt outstanding and $804.5 million of stockholders' equity. During third quarter 2014, the Company purchased 200,000 shares of its common stock for a total cost of $5.0 million.”

Werner Enterprises Inc. traded at $26.00 in the aftermarket, up 4.61 percent.