Werner Enterprises Inc., one of the nation's largest truckload transportation companies, reported improved operating revenues and earnings for the fourth quarter and year ended Dec. 31, 2005.
Operating revenues increased 16 percent to $526.3 million in fourth quarter 2005 compared to $455.2 million in fourth quarter 2004. Net income increased 12 percent to $28.8 million in fourth quarter 2005 compared to $25.8 million in fourth quarter 2004. Earnings per share rose 12 percent to $.36 per share in fourth quarter 2005 compared to $.32 in fourth quarter 2004.
For the year, operating revenues of $1.972 billion in 2005 were 18 percent higher than $1.678 billion in 2004. Net income increased 13 percent to $98.5 million compared to $87.3 million in 2004. Earnings per share rose 13 percent to $1.22 per share in 2005 compared to $1.08 in 2004.
Freight demand improved beginning in September 2005. From September 2005 through the end of December 2005, freight demand was as strong as the strong freight demand during the same period of 2004.
One way Werner measures freight demand for its non-dedicated fleets (58 percent of the total truck fleet) is by comparing the number of available loads to available trucks on a daily basis. Werner believes that a solid freight shipping market for the company's reliable truck service offerings combined with an extremely tight truck capacity market, created the strong fourth quarter 2005 freight market. For the first three weeks of January 2006, freight demand declined from fourth quarter 2005, as expected, when moving from the seasonally strongest freight period of the year to the seasonally weakest freight period of the year. Freight demand to date in January 2006 is slightly weaker than the first three weeks of January 2005.
Operating revenues increased 16 percent to $526.3 million in fourth quarter 2005 compared to $455.2 million in fourth quarter 2004. Net income increased 12 percent to $28.8 million in fourth quarter 2005 compared to $25.8 million in fourth quarter 2004. Earnings per share rose 12 percent to $.36 per share in fourth quarter 2005 compared to $.32 in fourth quarter 2004.
For the year, operating revenues of $1.972 billion in 2005 were 18 percent higher than $1.678 billion in 2004. Net income increased 13 percent to $98.5 million compared to $87.3 million in 2004. Earnings per share rose 13 percent to $1.22 per share in 2005 compared to $1.08 in 2004.
Freight demand improved beginning in September 2005. From September 2005 through the end of December 2005, freight demand was as strong as the strong freight demand during the same period of 2004.
One way Werner measures freight demand for its non-dedicated fleets (58 percent of the total truck fleet) is by comparing the number of available loads to available trucks on a daily basis. Werner believes that a solid freight shipping market for the company's reliable truck service offerings combined with an extremely tight truck capacity market, created the strong fourth quarter 2005 freight market. For the first three weeks of January 2006, freight demand declined from fourth quarter 2005, as expected, when moving from the seasonally strongest freight period of the year to the seasonally weakest freight period of the year. Freight demand to date in January 2006 is slightly weaker than the first three weeks of January 2005.
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