Werner Enterprises said late Wednesday its second-quarter profit rose, as freight shipments strengthened and overall industry capacity fell.
Net income improved to $20.9 million, or 29 cents a share, from $12.7 million, or 18 cents, a year ago. Revenue rose 15% to $463.5 million.
“More of the improvement in the freight market over the last six months can be attributed to a decreasing supply of truck capacity rather than rising demand,” Werner said, adding that “both factors are helping the freight market improve.”
Freight shipment load counts continued to strengthen throughout each month of second quarter, following growth earlier this year, the company said.
Average revenues per total mile increased 2.2% from a year ago, and 2.3% sequentially from first quarter of this year.
Werner Enterprises is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.