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Sep 30, 2024
Werner Q3 2024 Earnings Report
Werner's performance was impacted by challenging freight conditions and pricing pressures, but Dedicated fleet grew.
Key Takeaways
Werner Enterprises reported a decrease in total revenues and operating income for Q3 2024 compared to the prior-year quarter. Total revenues decreased by 9% to $745.7 million, and operating income decreased by 54% to $17.6 million. Diluted EPS decreased by 72% to $0.11.
Total revenues decreased by 9% to $745.7 million.
Operating income decreased by 54% to $17.6 million.
Diluted EPS decreased by 72% to $0.11.
One-Way Truckload revenue per total mile increased year over year for the first time in seven quarters.
Revenue by Segment
Forward Guidance
Werner expects TTS truck count to decrease by 8% to 6% annually and net capital expenditures to be $240M to $260M annually. Dedicated RPTPW growth is expected to be 0% to 3% annually and One-Way Truckload RPTM growth is expected to be 0% to 3% in Q4 2024 vs. Q4 2023.
Positive Outlook
- Dedicated RPTPW growth expected to be 0% to 3% annually.
- One-Way Truckload RPTM growth expected to be 0% to 3% in Q4 2024 vs. Q4 2023.
Challenges Ahead
- TTS truck count expected to decrease by 8% to 6% annually.
- Annual effective tax rate expected in the range of 25.5% to 26.5%.
- Expect average truck and trailer ages of 2.1 years and 5.4 years, respectively, as of December 31, 2024.
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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