Werner Enterprises Inc., the Omaha, Neb. truckload transportation companies, reported operating revenues and earnings for the third quarter ended Sept. 30, 2005.
Operating revenues increased 19 percent to $504.5 million in third quarter 2005 compared to $425.4 million in third quarter 2004. Net income was $24.5 million in third quarter 2005 compared to $24.3 million in third quarter 2004. Earnings per share were $.30 per share in both third quarter 2005 and third quarter 2004.
Freight demand was solid in July and August 2005, but not as strong as the strong freight market of July and August 2004. Freight demand improved beginning the first week in September 2005, and was approximately the same as the strong freight demand during the same period in 2004. During third quarter 2005, the company's marketing department began the process of renewing customer contracts and initiating annual rate increases for a substantial portion of the company's non-dedicated fleet business that renews in the second half of 2005. The company's goal is to recoup several inflationary cost increases including driver pay and benefits, truck engine emissions costs, and tolls and to improve the company's operating income percentage.
Operating revenues increased 19 percent to $504.5 million in third quarter 2005 compared to $425.4 million in third quarter 2004. Net income was $24.5 million in third quarter 2005 compared to $24.3 million in third quarter 2004. Earnings per share were $.30 per share in both third quarter 2005 and third quarter 2004.
Freight demand was solid in July and August 2005, but not as strong as the strong freight market of July and August 2004. Freight demand improved beginning the first week in September 2005, and was approximately the same as the strong freight demand during the same period in 2004. During third quarter 2005, the company's marketing department began the process of renewing customer contracts and initiating annual rate increases for a substantial portion of the company's non-dedicated fleet business that renews in the second half of 2005. The company's goal is to recoup several inflationary cost increases including driver pay and benefits, truck engine emissions costs, and tolls and to improve the company's operating income percentage.
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