Financial Data and Key Metrics Changes - Revenues for Q3 2024 totaled $746 million, a decrease of 9% compared to the prior year [36] - Adjusted EPS was $0.15, down $0.27 primarily due to a softer used equipment market and higher interest expenses [36] - Adjusted operating margin was 2.9%, a decrease of 220 basis points year-over-year [36] Business Line Data and Key Metrics Changes - Truckload Transportation Services (TTS) revenue was $523 million, down 9% year-over-year, with adjusted operating income declining 41% to $24.5 million [37] - Dedicated revenue net of fuel was $285 million, down 7% year-over-year, while Dedicated revenue per truck per week increased 1.7% [43] - Logistics revenue was $207 million, representing 28% of total revenues, down 10% year-over-year [48] Market Data and Key Metrics Changes - One-Way revenue per total mile increased 0.3% in Q3, marking the first year-over-year increase in seven quarters [16] - Average truck count in TTS declined 9% year-over-year, while revenue per truck per week increased 3.5% [42] - Intermodal revenues increased 7% year-over-year due to more shipments, despite a decrease in revenue per shipment [49] Company Strategy and Development Direction - The company is focused on driving growth in core business, operational excellence, and capital efficiency as strategic priorities for 2024 [25] - Continued investment in technology, particularly the EDGE TMS platform, is expected to enhance operational efficiency and decision-making [28] - The company aims to maintain a strong customer retention rate of over 90% in its Dedicated business, leveraging its competitive advantages [22] Management's Comments on Operating Environment and Future Outlook - Management noted that while the operating environment remains challenging, there are positive signs of market transition and improvements in certain business areas [11] - The company remains disciplined in executing its strategy and is optimistic about future growth as demand returns [62] - Management highlighted the importance of controlling costs and improving operational margins despite external pressures [77] Other Important Information - The company reported $40 million in savings through cost-saving initiatives during Q3 [33] - Total liquidity at the end of the quarter was $434 million, including cash and availability on the revolver [56] - The average age of the truck fleet was 2.0 years, positioning the company well for future growth and compliance with emission regulations [61] Q&A Session Summary Question: Can you elaborate on the health insurance claims and cost headwinds? - Management indicated that health insurance claims were unusually elevated during the quarter, impacting EPS by about $0.05 [66] Question: What are the expectations for rate increases in the upcoming bid season? - Management stated that it is too early to predict the magnitude of rate increases for 2025, but there are signs of tightening in the market [68] Question: How should margins be expected to change from Q3 to Q4? - Management expects moderate margin improvements, despite challenges from health insurance costs and macroeconomic factors [77] Question: What is the outlook for the Dedicated fleet in Q4? - Management indicated that the Dedicated fleet might decrease due to strategic exits, but there are signs of capacity being added back in some areas [73] Question: How does the company plan to manage fleet age and emissions regulations? - Management expressed confidence in their fleet's age and their ability to navigate upcoming emission regulations without significant CapEx [105]

Werner Enterprises (WERN) reported $745.7 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 8.8%. EPS of $0.15 for the same period compares to $0.42 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $787.48 million, representing a surprise of -5.31%. The company delivered an EPS surprise of -31.82%, with the consensus EPS estimate being $0.22. While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

Werner Enterprises (WERN) came out with quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -31.82%. A quarter ago, it was expected that this transportation company would post earnings of $0.23 per share when it actually produced earnings of $0.17, delivering a surprise of -26.09%. Over the last four ...

Exhibit 99.1 Werner Enterprises Reports Third Quarter 2024 Results Third Quarter 2024 Highlights (all metrics compared to third quarter 2023) • Total revenues of $745.7 million, down 9% • Operating income of $17.6 million, down 54%; non-GAAP adjusted operating income of $21.6 million, down 48% • Operating margin of 2.4%, down 220 basis points; non-GAAP adjusted operating margin of 2.9%, down 220 basis points • Diluted EPS of $0.11, down 72%; non-GAAP adjusted diluted EPS of $0.15, down 64% OMAHA, Neb., Octo ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Werner Enterprises (WERN) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octo ...

Werner Enterprises (WERN) is benefiting from its robust tech-savvy initiatives to boost the company's productivity. Shareholder-friendly initiatives bode well for the company. However, the company is grappling with a freight market downturn. Factors Favoring WERN Werner's investment in advanced fleet technology underscores its proactive approach to sustainability in the trucking industry. By utilizing fuel-efficient trucks with aerodynamic designs and testing innovative technologies like biodiesel blends an ...

Werner Enterprises' (WERN) top line is grappling with a freight market downturn, hurting the company's prospects. Elevated operating expenses are challenging the company's financial stability. Escalated labor and fuel costs are hurting WERN's bottom line, making it an unattractive choice for investors' portfolios. Let's delve deeper. WERN: Risks to Watch Southward Earnings Estimate Revision:The Zacks Consensus Estimate for current-quarter earnings has been revised 33.3% downward in the past 60 days. For the ...

IvanSpasic Thesis Since I wrote my analysis, "Examining Werner Enterprises 2023 Potential: A Cautionary Outlook," in mid-April 2023, Werner Enterprises, Inc. (NASDAQ:WERN) stock has notably underperformed relative to the broader market. Seeking Alpha In my article, I pointed out several headwinds the company was facing from a shaky freight market that was dragging down income and margins. At the time, it looked like those "rough patches" were likely to stick around for the remainder of 2023. And since my pi ...

Werner Enterprises' (WERN) bottom line is buoyed by a decline in operating expenses. The adoption of shareholder-friendly initiatives bodes well for the company. However, headwinds like low segmental revenues and substantial debt weigh on WERN's financial performance. Factors Favoring WERN Werner Enterprises' efforts to reward its shareholders through dividends and share repurchases are commendable. The company has a robust history of paying dividends to its shareholders. In the third quarter of 2024, WERN ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [Mark one] ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-14690 | --- | --- | |-----------------------------------------------------------------------------------------------|----------------------------- ...