Werner Enterprises said its first-quarter profit fell 18% due in part to “severe winter storms” during the period.
Net income fell to $14.3 million, or 20 cents a share, from $17.5 million, or 24 cents, a year ago. Revenue was flat at $492 million, the truckload carrier said April 21.
Besides bad weather, the company cited other factors that affected its earnings, including the early timing of the 2014 Chinese New Year, lean retail inventory levels, tightening of truck capacity due to increasing company failures, an extremely challenging driver market and expensive new trucks and increasing federal safety regulations.
Werner Enterprises ranks No. 13 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers.