Werner’s 2Q Income Declines
Truckload carrier Werner Enterprises’ second-quarter net income fell to $18.1 million, or 25 cents a share, from $22.3 million, or 30 cents, a year earlier.
Revenue rose 9% to $578.2 million, Werner said late Thursday.
“Although the domestic economy remains sluggish, Werner experienced improving freight demand over the last five weeks of second quarter 2008 due to the tightening of capacity,” the company said in a statement.
Despite record fuel prices, Werner said that in the quarter, it “improved the controllable aspects of fuel expense by implementing numerous initiatives to improve fuel efficiency.”
Those included reducing idling time, lowering non-billable miles, boosting the percentage of aerodynamic, more fuel-efficient trucks and installing auxiliary power units, it said.
Werner is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
