Werner Enterprises Reports Decline in Q4 Income and Revenue
Werner Enterprises has disclosed year-over-year declines in both income and revenue for the fourth quarter of 2024. The Omaha, Nebraska-based freight carrier and logistics company announced on February 6 that it recorded a net income of $11.9 million, or 19 cents per diluted share, for the quarter ending December 31. This marks a decrease from the previous year’s net income of $23.6 million, or 37 cents per share. Total revenue also fell by 8%, dropping to $754.7 million from $821.9 million.
Despite these challenges, CEO Derek Leathers noted early signs of improvement in the freight market. He highlighted that One-Way revenue per total mile increased year-over-year for the second consecutive quarter. Additionally, the peak season performance exceeded expectations, with volumes reaching twice that of the previous year at higher rates.
However, Werner’s fourth-quarter results fell short of Wall Street analysts’ expectations, who had predicted earnings per share of 21 cents and quarterly revenue of $772 million, according to Zacks Consensus Estimate.
Leathers acknowledged that the fourth quarter contained several one-time factors that impacted results. He pointed out that elevated insurance expenses arose from unfavorable developments on large-dollar claims, although the company’s safety metrics remain at near-record low levels. During this downturn, Werner has concentrated on controllable factors by investing in its own operations and making strategic decisions aimed at positioning the company for long-term value creation as market conditions improve.
