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Sep 30, 2022
Werner Q3 2022 Earnings Report
Werner Enterprises reported good financial results despite a softening freight market.
Key Takeaways
Werner Enterprises reported an 18% increase in total revenues, driven by growth in Truckload Transportation Services and Logistics revenues. Operating income increased by 7%, and diluted EPS decreased by 8%.
Total revenues increased by 18% to $827.6 million.
Operating income rose by 7% to $76.3 million.
Diluted EPS decreased by 8% to $0.86.
Truckload Transportation Services and Logistics revenues drove the overall revenue growth.
Revenue by Segment
Forward Guidance
Werner expects a more subdued peak freight market in the fourth quarter compared to the previous year.
Positive Outlook
- Dedicated RPTPW growth is expected to be 6% to 8% in 4Q22 compared to 4Q21.
- Continued strong rate levels are expected to offset inflationary costs.
- TTS truck growth from BoY to EoY is expected to be 3% to 5% annually.
- Baylor trucks acquired on October 1, 2022, are included in the TTS truck growth guidance.
- Truck age is expected to be 2.3 years.
Challenges Ahead
- One-Way Truckload RPTM growth is expected to be -3% to 0% in 4Q22 compared to 4Q21.
- The OWT freight market is moderating.
- There are tough YOY RPTM comps.
- There are much fewer premium pricing opportunities in 4Q22.
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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