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Mar 31, 2022
Werner Q1 2022 Earnings Report
Werner's first quarter results for 2022 were strong, with revenue and operating income increasing.
Key Takeaways
Werner Enterprises reported strong first quarter results with a 24% increase in total revenues to $764.6 million and a 34% increase in operating income to $83.5 million. Diluted EPS increased by 20% to $0.82, and non-GAAP adjusted diluted EPS increased by 40% to $0.96.
Total revenues increased by 24% to $764.6 million.
Operating income rose by 34% to $83.5 million.
Diluted EPS increased by 20% to $0.82.
Non-GAAP adjusted diluted EPS increased by 40% to $0.96.
Revenue by Segment
Forward Guidance
Werner provided updated guidance for 2022, including TTS truck growth of 2% to 5% and net capital expenditures of $250M to $300M.
Positive Outlook
- Dedicated RPTPW growth is expected to be 4% to 6%.
- Strong contractual rate increases are anticipated.
- Moderating spot rates are expected.
- Fleet mix changes will contribute positively.
- Effective income tax rate is projected to be 24.5% to 25.5%.
Challenges Ahead
- TTS truck growth is subject to driver availability.
- TTS truck growth is subject to the timing of delivery of new trucks from OEMs.
- Net capital expenditures are subject to the timing of delivery of new trucks and trailers from OEMs.
- One-Way Truckload RPTM growth is expected to moderate.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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