Werner’s Second-Quarter Income Declines
Truckload carrier Werner Enterprises said its second-quarter profit fell to $12.7 million, or 18 cents per share, from $18.1 million, or 25 cents, a year ago.
Revenue fell 30% to $403.1 million, while trucking revenue excluding fuel surcharges declined 16% to $310.1 million, the company said late Monday.
“The already soft freight market weakened further during [the] first quarter,” Werner said in a statement.
Werner said it “proactively adapted to the softer freight market conditions by reducing its fleet size by 10% when comparing second quarter 2009 to second quarter 2008.”
Fewer trucks and a 16% shorter length of haul reduced total miles by 14% over this same period
Werner is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.