Werner Enterprises Profit Falls 15 Percent

Werner Enterprises Profit Falls 15 Percent

Transportation and logistics company Werner Enterprises reported third quarter profit of $25.2 million, down 15 percent from 2011’s $29.6 million in the same period, because of softer freight demand, rising fuel prices and other cost increases that exceeded rate hikes.

In the first nine months of 2012, profit increased 5 percent year-over-year from $73.4 million to $77.1 million.

Trucking revenue, net of fuel surcharges, in the third quarter ending Sept. 30 was $326.2 million, down 2 percent from $331.4 million in the same period last year. Trucking revenue for the year to date is $979.4 million, down less than 1 percent from last year’s $981.5 million.

Total quarterly revenue was $506.5 million, a slight decrease of 1 percent year-over-year.