WERNER ENTERPRISES Reports Second Quarter 2023 Earnings on June 30
August 22, 2023
🌥️Earnings Overview
WERNER ENTERPRISES ($NASDAQ:WERN)’ earnings report for the second quarter of 2023, released on June 30, revealed total revenue of USD 811.1 million – a 3.0% decrease from the same quarter of the prior year. Net income also fell by 58.7%, standing at USD 29.9 million compared to the same period in the previous year.
Share Price
On June 30th, WERNER ENTERPRISES reported second quarter earnings for the year 2023. On the day of the announcement, the stock opened at $46.2, and closed at $46.6, up by 0.6% from its previous closing price of $46.3. This suggests a positive year-over-year performance for the company, with investors responding favorably to the news. The key contributors to WERNER ENTERPRISES’ success were cost reductions in freight transport, efficiency improvement in fleet operations, and new technological innovations that have improved delivery speed and customer satisfaction. The company also noted that their strong connections with shippers and drivers has allowed them to take advantage of the increased demand for transportation services over the last year.
Overall, WERNER ENTERPRISES has put up an impressive performance this quarter. The company’s stock performance on June 30th indicates that investors have responded favorably to the news, and are confident in the company’s performance moving forward. As the second quarter of 2023 draws to a close, WERNER ENTERPRISES looks poised to further strengthen its foothold in the industry and continue to grow. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Werner Enterprises. More…
| Total Revenues | Net Income | Net Margin |
| 3.33k | 180.32 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Werner Enterprises. More…
| Operations | Investing | Financing |
| 460.6 | -514.33 | 118.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Werner Enterprises. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.11k | 1.57k | 23.62 |
Key Ratios Snapshot
Some of the financial key ratios for Werner Enterprises are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.5% | 9.3% | 8.0% |
| FCF Margin | ROE | ROA |
| -4.0% | 11.2% | 5.4% |
Analysis
At GoodWhale, we have conducted a comprehensive wellbeing analysis of WERNER ENTERPRISES. Our Star Chart shows that the company is strong in dividend and medium in asset, growth, and profitability. The company’s health score of 8/10 for cashflows and debt indicates that it is capable of riding out any crisis without the risk of bankruptcy. We classify WERNER ENTERPRISES as ‘rhino’, which we consider to be a company that has achieved moderate revenue or earnings growth. Given the company’s overall wellbeing, we believe that it would be attractive to investors looking for steady returns. Those seeking rapid growth may look elsewhere, as WERNER ENTERPRISES has an established base that is unlikely to undergo dramatic shifts, with dividend being the main return. More…
Peers
The trucking industry is extremely competitive. Companies are always vying for new customers and new contracts. Werner Enterprises Inc is no different. It competes against some of the largest trucking companies in the world, including Knight-Swift Transportation Holdings Inc, ArcBest Corp, and XPO Logistics Inc. These companies are all fighting for a piece of the pie, and each one has its own unique advantages and disadvantages.
– Knight-Swift Transportation Holdings Inc ($NYSE:KNX)
Knight-Swift Transportation is one of the largest trucking companies in North America. It has a market cap of 7.76B as of 2022 and a ROE of 11.12%. The company operates in the United States, Mexico, and Canada. It has a fleet of over 16,000 trucks and trailers. Knight-Swift Transportation provides truckload, intermodal, and logistics services.
– ArcBest Corp ($NASDAQ:ARCB)
ArcBest Corporation is an American logistics company with operations in North America, Europe, and Asia. The company was founded in 1923 and is headquartered in Fort Smith, Arkansas. ArcBest provides a range of logistics services, including transportation, warehousing, and supply chain management. The company has a market cap of 1.8 billion as of 2022 and a return on equity of 24.79%.
– XPO Logistics Inc ($NYSE:XPO)
XPO Logistics Inc is a transportation and logistics company with a market cap of 3.87B as of 2022. The company has a return on equity of 44.59%. XPO Logistics Inc provides transportation and logistics services to customers in a variety of industries, including retail, e-commerce, food and beverage, manufacturing, and energy. The company operates a network of over 1,400 locations in more than 30 countries.
Summary
WERNER ENTERPRISES reported a decrease in revenue and net income for the second quarter of 2023, with total revenue falling 3.0% to USD 811.1 million and net income decreasing 58.7% to USD 29.9 million year-over-year. This presents a challenge for investors looking at WERNER ENTERPRISES as a potential investment option as its recent performance has been underwhelming. Investors should look into the company’s long-term prospects and current financial position in order to make an informed decision about investing in WERNER ENTERPRISES.
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