Truckload carrier Werner Enterprises says higher fuel prices will affect fourth quarter earnings.
If fuel prices and the fleet's fuel surcharge reimbursements remain at current levels,
Werner predicts a hit of around 10 cents per share on earnings.
The fleets says the average fuel price per gallon (excluding fuel taxes) is currently over 80% higher compared to the same date one year ago. Prices continued to slip around 10% from the end of November 1998 until the beginning of March 1999.
Werner says its current fuel surcharges only recover a small portion of the higher fuel cost. This is due to several factors, including: the base fuel price levels which determine when surcharges are collected, empty miles between freight shipments, out-of-route miles caused in part by driver home time needs, and truck idling.