WERNER ENTERPRISES Reports Second Quarter Earnings for FY 2023
August 14, 2023
🌥️Earnings Overview
On June 30, 2023, WERNER ENTERPRISES ($NASDAQ:WERN) announced its financial results for the second quarter of fiscal year 2023. Total revenue for the period was USD 811.1 million, representing a drop of 3.0% compared to the same quarter of the prior year. Reported net income was USD 29.9 million, a decrease of 58.7% year over year.
Market Price
On Thursday, WERNER ENTERPRISES reported its second quarter earnings for fiscal year 2023, with the stock opening at $46.2 and closing at $46.6, up by 0.6% from its previous closing price of 46.3. This marks an increase in market value for the company, indicating strong performance this quarter. The company has achieved its growth by continuing to expand its fleet of trucks, trailers and containers, while also improving safety protocols across its operations. This has enabled WERNER ENTERPRISES to remain competitive in the transportation industry, while also ensuring that its services meet the highest standards of customer satisfaction. Moreover, WERNER ENTERPRISES has also been investing in technology to streamline its processes and enable efficient delivery of goods and services.
This has enabled the company to reduce its operating costs and improve profitability. The company is also committed to investing in renewable energy sources and reducing its carbon footprint. Overall, this quarter has seen WERNER ENTERPRISES continue to deliver strong results on all fronts and remain one of the top players in the transportation sector. The growth in stock price is an indication of the company’s long-term prospects and indicates that investors have confidence in the future of WERNER ENTERPRISES. 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 thorough analysis of WERNER ENTERPRISES‘ financials. Our findings suggest that WERNER ENTERPRISES is a low risk investment in terms of their financial and business aspects. We have identified some areas of potential risk, and invite our users to register with us to review the details. Through our comprehensive assessment of WERNER ENTERPRISES, we have developed a Risk Rating that factors in financial and business elements. This allows our users to quickly make informed decisions about their investments. We encourage you to take advantage of this system and register with us today to gain access to our risk ratings. At GoodWhale, we are committed to providing our users with the tools to make smart investment decisions. Our analysis of WERNER ENTERPRISES has given us greater confidence in their financial and business capabilities, and we hope that you will take advantage of our services and register with us to access more of this information. 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 total revenue of 3.0% for the second quarter of Fiscal Year 2023 compared to the previous year, while net income decreased by 58.7%. This is a cause for concern for investors, particularly because this is the second consecutive quarter of decreased net income. Investors must stay informed on the company’s current financial performance in order to make informed decisions about their investments. Moving forward, investors should watch for signs of improvement in the company’s financial performance to ensure that their investments remain profitable.
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