Werner Profit Slips for All of 2013
January 28, 2014
Photo: Evan Lockridge
Nebraska-based trucking and logistics company Werner Enterprises has reported a decline in net income for the fourth quarter and all of last year.
It amounted to $22.2 million dollars in the final quarter of 2013, down 15% from $26 million the same time a year earlier, while it fell 16% last year to $86.8 million, compared to $103 million in 2012.
Both declines came despite total revenue increasing 2% in the final quarter of last year to $517.9 from $509.7 million a year earlier, while it was nearly unchanged for all of last year, coming in a $2.03 billion, compared to $2.04 billion in 2012.
“Operating income for fourth quarter 2013 of $36.1 million improved sequentially by 11% compared to $32.6 million for third quarter 2013 due primarily to a more favorable freight market,” the company said in a statement. “Freight trends thus far in 2014 have been better than the same period in 2013. Severe weather in December 2013 and early January 2014 created a build up of freight demand but also resulted in higher operating expenses such as maintenance and insurance and lower miles per truck.”
Average revenues per total mile, net of fuel surcharge, rose 3.1% in fourth quarter 2013 compared to fourth quarter 2012 while average monthly miles per truck declined by 2.2% in fourth quarter 2013 compared to fourth quarter 2012 and increased by 2.6% compared to third quarter 2013.
More information is on the Werner Enterprises website.