Werner Enterprises

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

J.B. Hunt a bit more upbeat

Management from J.B. Hunt Transport Services was slightly more positive on the freight environment Wednesday, saying the market is “coming out of a freight recession” as opposed to being in one.

J.B. Hunt’s (NASDAQ: JBHT) customers have largely completed an inventory destocking, according to President Shelley Simpson, who made the comments at a Morgan Stanley (NYSE: MS) investor conference in Dana Point, California. She said customers are “cautiously optimistic,” with some indicating freight...

https://www.freightwaves.com/news/j-b-hunt-a-bit-more-upbeat

A first for Werner: Small group of workers votes to unionize

A tiny step toward unionization has come to one of the biggest truckload carriers in the country, albeit at a subsidiary that isn’t in the longhaul business of the parent company.

At three facilities in New Jersey operated by mostly one-way trucking carrier ECM, which is 80% owned by Werner (NASDAQ: WERN) after a 2021 acquisition, the United Food and Commercial Workers union won a representation vote earlier this week to represent 26 workers. The operations are in Cinnaminson, Hamilton and...

https://www.freightwaves.com/news/a-first-for-werner-small-group-of-workers-votes-to-unionize

Werner’s appeal of $100M Texas verdict focuses on legal arguments

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Werner Enterprises has appealed a more than $100 million verdict issued against it to the Texas...

https://www.freightwaves.com/news/werners-appeal-of-100m-texas-verdict-focuses-on-legal-arguments

Loaded and Rolling: Kodiak Robotics, Pilot open 1st autonomous truckport

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-4’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-4’); });

Kodiak Robotics, Pilot open 1st autonomous truckport

(Image: Kodiak Robotics Inc./Pilot Co.)

On...

https://www.freightwaves.com/news/loaded-and-rolling-kodiak-robotics-pilot-open-1st-autonomous-truckport

Werner chief says worst has likely passed

Following a very tough quarter, management from Werner Enterprises said Tuesday the worst of the freight downcycle has likely passed.

Werner’s (NASDAQ: WERN) outlook calls for a muted peak season with continued capacity attrition. Derek Leathers, the truckload carrier’s chairman and CEO, told investors at Deutsche Bank’s (NYSE: DB) transportation conference that he was surprised by the staying power spot-market-dependent carriers have had following the recent boom cycle.

“We underestimated the...

https://www.freightwaves.com/news/werner-chief-says-worst-has-passed

Werner driver survives kidnapping, deadly shootout when his rig is stolen

A truck driver for Werner Enterprises was injured but survived after being taken hostage by two suspects in his rig at a truck stop early Wednesday. The suspects were later killed after a shootout with Ohio state troopers following a lengthy pursuit and a seven-hour standoff that ended in Dayton.

Kent E. Harshbarger of the Montgomery County Coroner’s Office identified the suspects as Elaine Helman, 51, and Rodney Helman, 54. They died hours after being transported to Miami Valley Hospital on...

https://www.freightwaves.com/news/werner-driver-survives-kidnapping-deadly-shootout-when-his-rig-is-stolen

Werner misses Q2 expectations

Werner Enterprises missed second-quarter expectations Thursday and said the third quarter presents a challenge as pricing on another 25% of its contracts will be renewed, most with lower rates.

On a call with analysts, management said there was slight improvement in the middle of June and the level was held through July. It is hopeful for a seasonally normal fourth quarter, noting most customers have indicated their inventories have already been corrected.

Werner (NASDAQ: WERN) reported...

https://www.freightwaves.com/news/werner-misses-q2-expectations

Werner misses Q1 earnings estimate, sees spot market hitting bottom in Q2

Werner Enterprises on Wednesday reported first-quarter revenue of $832.7 million, a 9% year over year (y/y) increase compared to the same quarter in 2022.

The Omaha, Nebraska-based carrier had first-quarter adjusted earnings per share of 60 cents, about 11 cents lower than the consensus estimate and a 37% y/y decrease compared to the same year-ago quarter.

Werner (NASDAQ: WERN) beat Wall Street consensus quarterly revenue estimates of about $830 million.

“Freight in January was soft, but better...

https://www.freightwaves.com/news/werner-misses-first-quarter-earnings-estimate

ACT Expo a coming of age for hydrogen-powered trucking

ANAHEIM, Calif. — Not long ago, hydrogen and fuel cell trucks were lightly regarded at the Advanced Clean Transportation Expo. This year, they are capturing once unimaginable attention.

A parade of significant hydrogen-related announcements began even before what has become a must-attend event that outgrew its Long Beach, California, venue. Toyota Motor North America (TMNA), which doesn’t make commercial trucks, confirmed production later this year of a heavy-duty fuel cell system at its...

https://www.freightwaves.com/news/act-expo-a-coming-of-age-for-hydrogen-powered-trucking

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.