Werner Enterprises

Trucking industry stakeholders square off over CDL test flexibility

WASHINGTON — Regulators received heavy opposition from truck owner-operators and safety advocates on a proposal aimed at making it easier to test and employ new drivers.

The Federal Motor Carrier Safety Administration’s proposed rule, “Increased Flexibility for Testing and for Drivers after Passing the Skills Test,” would loosen current CDL testing regulations by:

  • Allowing commercial learner’s permit (CLP) holders who have passed the CDL skills test to operate a truck without having a CDL holder...

https://www.freightwaves.com/news/trucking-industry-stakeholders-square-off-over-cdl-test-flexibility

Will natural gas payback beat EV adoption?

The confluence of a new, bigger engine, net-zero carbon emissions from renewable natural gas (RNG) and pressure from shippers for their carriers to operate sustainably add up to a bright picture for natural gas adoption.

But a new study from the North American Council for Freight Efficiency (NACFE) points to a couple of cautions. First is methane leakage from the source of the RNG. Methane escaping into the atmosphere is a huge contributor to planet-warming greenhouse gas.

Second, and most...

https://www.freightwaves.com/news/will-natural-gas-payback-beat-ev-adoption

Truckload carriers’ forecasts cut heading into Q1 prints

Analysts are cutting earnings estimates for truckload companies heading into first-quarter reports. Acknowledging decent demand, analysts cited an overhang of truck capacity, which is constraining pricing and margins, as the reason for the latest round of revisions.

“We exit 1Q much like we entered it for truckload-related transports — feeling okay about volumes but bad about pricing and expecting downward EPS revisions for businesses that live on this annual pricing cycle,” Susquehanna...

https://www.freightwaves.com/news/truckload-carriers-forecasts-cut-heading-into-q1-prints

Dispute over ESG policies leads to a director departure at Werner

In a rare instance of internal board of directors disagreements jumping into public view, a director at Werner Enterprises has resigned, citing in part the truckload carrier’s “unquestioned dedication to ESG [environmental, social and governance] considerations as a primary strategy.”

Vikram Mansharamani’s resignation came before he faced the likelihood of not being be reelected to a second three-year term.

In a letter dated Feb. 27 and revealed publicly in a Werner (NASDAQ: WERN) Securities and...

https://www.freightwaves.com/news/dispute-over-esg-policies-leads-to-a-director-departure-at-werner

Deadline nears for filings as Werner seeks review of nuclear verdict

Deadlines are looming for all briefs to be filed with the Texas Supreme Court as it decides whether to review the enormous verdict against Werner Enterprises growing out of a 2014 fatal wreck. With interest, the sum now stands above $100 million.

A primary brief was filed in October by attorneys for the Blake family, which suffered one death, one catastrophic brain injury and other injuries in the Dec. 30, 2014, West Texas crash.

On Feb. 15, attorneys for Werner (NASDAQ: WERN) filed a brief for...

https://www.freightwaves.com/news/deadline-nears-for-filings-as-werner-seeks-review-of-nuclear-verdict

Bid season off to bumpy start, trucking heads say

A bout of harsh winter weather temporarily pushed truckload metrics higher in January, but fundamentals have receded back to trough levels, carriers said at a pair of investor conferences this week.

J.B. Hunt Transport Services (NASDAQ: JBHT) said its intermodal volumes have not been as strong as the increases reported at the ports of Los Angeles and Long Beach in January, where volumes were 20% higher year over year (y/y), or at its primary rail partner BNSF (NYSE: BRK-B), which witnessed a...

https://www.freightwaves.com/news/bid-season-off-to-bumpy-start-trucking-heads-say

Werner aims to grow dedicated after Q4 earnings miss

Werner aims to grow dedicated after Q4 earnings miss

(Source: Werner Enterprises; chart: FreightWaves)

On Tuesday, truckload carrier Werner Enterprises released its Q4 earnings, which saw one-way customers (or OTR) continue one last push for savings on upcoming RFPs but nearing an inflection point due to profitability concerns.

The pricing discipline and willingness to limit the company’s semi-random OTR network while pivoting to dedicated is a proven down-market strategy in which you adjust...

https://www.freightwaves.com/news/werner-aims-to-grow-dedicated-after-q4-earnings-miss

Werner reports Q4 miss

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Werner Enterprises saw another tough quarter to close 2023 and said it will continue to favor...

https://www.freightwaves.com/news/werner-reports-q4-miss

Werner Enterprises taps new president from within

Werner Enterprises announced Wednesday that its chief legal officer, Nathan Meisgeier, will also take on the role of president of the company. The change became effective on Friday.

Meisgeier joined the transportation and logistics company in 2005 as senior counsel of litigation and has served on its executive team since 2016. Most recently, he has overseen the company’s legal, risk, human resources and government affairs functions as executive vice president and chief legal officer.

In addition...

https://www.freightwaves.com/news/werner-enterprises-taps-new-president-from-within

Werner’s Q3 light of expectations

Werner Enterprises said Wednesday that volumes during this year’s peak season will shake out largely in line with last year but pricing will be notably lower.

The company’s rate guidance for the fourth quarter calls for revenue per total mile in its one-way segment to be flat to slightly down from the third quarter but off 7% to 9% year over year (y/y). Its outlook for the dedicated fleet was unchanged as revenue per truck per week is still expected to finish the full year flat to up 3%. That...

https://www.freightwaves.com/news/werners-q3-light-of-expectations

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