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Sep 30, 2021
Werner Q3 2021 Earnings Report
Werner reported record third quarter revenues and earnings, driven by strong freight market and strategic investments.
Key Takeaways
Werner Enterprises reported a 19% increase in total revenues to $702.9 million and a 41% increase in diluted EPS to $0.94 for the third quarter of 2021. The company benefited from a strong freight market and strategic investments in driver pay and sourcing, as well as the acquisition of ECM Transport Group.
Total revenues increased by 19% to $702.9 million.
Operating income rose by 15% to $71.3 million.
Diluted EPS increased by 41% to $0.94.
The company successfully integrated the ECM truckload fleet acquisition.
Revenue by Segment
Forward Guidance
Werner provided updated guidance for 2021, including TTS truck growth of 3% to 5%, gains on sales of equipment of $10M to $12M for Q4, and net capital expenditures of $250M to $275M.
Positive Outlook
- Strong start to peak shipping season.
- Dedicated RPTPW growth expected to improve in Q4.
- One-Way Truckload (OWT) RPTM growth remains strong.
- Reinvesting to maintain young fleet advantage.
- Effective income tax rate remains consistent.
Challenges Ahead
- Flat to slightly lower fleet expected in Q4 2021.
- Lower unit sales due to lower new truck and trailer deliveries.
- Lower miles per truck in Q4 due to fleet mix but improving from Q3 2021.
- Expect lower unit sales due to lower new truck and trailer deliveries.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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