Loading...
•
Dec 31, 2020
Werner Q4 2020 Earnings Report
Reported record operating income for Q4 and full year 2020.
Key Takeaways
Werner Enterprises reported flat YoY revenue but increased operating income by 24% and diluted EPS by 26% in Q4 2020. The company highlighted strong performance in both Dedicated and One-Way Truckload segments, with freight demand remaining robust. Werner is confident in its positioning for continued success in 2021, citing a young fleet and efficient cost management.
Total revenues were $620.3 million, flat year-over-year, but up 5% sequentially.
Operating income reached $81.5 million, a 24% increase year-over-year and a 31% increase sequentially.
Diluted EPS was $0.88, reflecting a 26% increase year-over-year and a 31% increase sequentially.
The company repurchased 1.2 million shares of common stock for $47.7 million during the quarter.
Forward Guidance
Werner provided guidance for 2021, including targeted TTS truck growth, gains on sales of equipment, net capital expenditures, and growth in Dedicated and One-Way Truckload revenues per truck per week. The company also included assumptions for the effective income tax rate and fleet age.
Positive Outlook
- Targeted TTS truck growth of 1% to 3% from beginning of year to end of year.
- Dedicated RPTPW growth of 3% to 5% (1H21 vs. 1H20).
- One-Way Truckload (OWT) RPTM growth of 7% to 10% (1H21 vs. 1H20).
- Expect high-single-digit to low-double-digit percentage contractual rate renewals during bid season.
- Gains on sales of equipment between $12M to $15M.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...