Werner Profit Rises 64 Percent on Tight Capacity

Werner Profit Rises 64 Percent on Tight Capacity

Werner Enterprises improved its net profit 64 percent in the second quarter compared to last year, to $20.9 million, almost double the carrier's earnings in the first quarter.

The Omaha, Neb., company increased its revenue 15 percent from a year ago to $463.5 million in the second quarter, as tight truck capacity combined with rising demand.

The transportation company's logistics operations grew faster than its trucking business, with value added service revenue rising 29 percent to $65.1 million.

Werner's truckload revenue, excluding fuel surcharges, rose 5 percent from a year ago to $326.5 million, a 7.5 percent gain from its first quarter trucking sales.

"Load counts continued to strengthen throughout each month of the quarter, in addition to the growth that occurred in February and March," said Werner.

One-way truckload shipments were higher than in any recent second quarter since 2006, the company said. Both spot pricing and contractual rates increased.

The company said the improvement in the freight market can be attributed more to tightening truck capacity than to rising demand, but "both factors are helping."

-- Contact William B. Cassidy at wcassidy@joc.com.