Werner’s Second-Quarter Net Income Dips
Werner Enterprises said its second-quarter profit declined from a year ago on constraint by economic and safety regulatory factors.
Net income was $25.6 million, or 35 cents per share, compared with $25.8 million, or 35 cents, a year ago. Revenue increased 7% to $542.1 million.
“It is very costly for many smaller and medium-size private carriers to replace their older, lower-value trucks with much more expensive, EPA-compliant new trucks, which significantly reduces the risk of trucks being added to the market,” the company said in a statement.
Werner ended the quarter with 7,035 trucks in its truckload segment, a decrease of 115 from the previous quarter.
Werner Enterprises ranks No. 15 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.
