Werner Enterprises Profit Falls 18% in First Quarter
April 18, 2013
While Omaha, Neb.-based truckload carrier Werner Enterprises is hardly in any danger of going into the red, it didn’t pull in as much money in the first quarter of the year as it did during the same time in 2012, thanks to tougher winter weather conditions.
First quarter profit fell to $17.5 million from $21.2 million the same time a year ago.
Revenue during the period moved 1% lower from $498 million in the first quarter of 2012 to $493 million in the most recent quarter.
“As we noted a year ago in our first quarter 2012 earnings release, unusually mild winter weather in first quarter 2012 had a modest positive impact on that quarter's operational efficiency and certain operating costs,” the company said in its earnings statement. “We experienced more severe winter weather in first quarter 2013, which had a modest negative impact on truck productivity and caused operating expenses in the current quarter to be somewhat higher.”
Average revenues per total mile, net of fuel surcharge, rose 1.3% in first quarter 2013 compared to first quarter 2012, while average monthly miles during the same periods declined by 3.2%.
The company said compared to the final quarter of last year, company fleet size declined by 60 trucks to 7,090. During the January through March period, 200 trucks from its one-way truckload operation were shifted to its dedicated business due to new business.
More details are available from the Werner web site.