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Werner Enterprises, Inc., founded in 1956, is a leading transportation and logistics company with operations spanning the United States, Canada, Mexico, Asia, Europe, and South America. The company is headquartered in Omaha, Nebraska and has offices throughout North America and China. Werner ranks among the five largest truckload carriers in the U.S., offering a wide range of transportation services from dedicated, medium-to-long-haul, regional, and local van capacity to expedited, temperature-controlled, and flatbed services.
Werner's value-added services portfolio is extensive, incorporating freight management, truck brokerage, intermodal services, load/mode and network optimization, and freight forwarding. The company, through its subsidiaries, holds various licenses including U.S. NVOCC, U.S. customs broker, licensed freight forwarder in China, licensed China NVOCC, TSA-approved indirect air carrier, and IATA accredited cargo agent.
Werner Enterprises operates two primary segments: Truckload Transportation Services (TTS) and Werner Logistics. The TTS segment handles the majority of Werner's revenue, focusing on full-truckload transportation services predominantly within the United States. Recent expansions and partnerships have strengthened Werner’s market position, enabling it to offer comprehensive logistics solutions tailored to their clients’ needs.
The company consistently invests in innovative technologies to enhance operational efficiency and customer satisfaction. This includes advancements in fleet management systems, real-time tracking, and data analytics to optimize route planning and load management. Werner's commitment to sustainability is evident through its initiatives to reduce carbon emissions and promote eco-friendly business practices.
As a prominent player in the logistics industry, Werner Enterprises continues to adapt to market demands and industry trends, ensuring reliable and efficient services for its diverse customer base. Recent achievements and ongoing projects highlight Werner’s dedication to growth and excellence in transportation logistics.
Werner Enterprises (Nasdaq: WERN), a leading transportation and logistics provider, has announced its participation in two upcoming investment conferences. The company will attend the Susquehanna 2024 Virtual Industrials, Energy & Travel Conference on August 7, 2024, engaging in investor meetings. Additionally, Werner will participate in the Morgan Stanley 12th Annual Laguna Conference on September 12, 2024, in Laguna Beach, California.
At the Morgan Stanley conference, Chairman and CEO Derek J. Leathers and CFO Christopher D. Wikoff will present a fireside chat from 10:30 a.m. to 11:00 a.m. PT. A live webcast of this presentation will be available on Werner's website, with an archive accessible for 30 days following the event. Werner Enterprises reported 2023 revenues of $3.3 billion and operates a modern fleet serving customers across the United States, Mexico, and Canada.
Werner Enterprises reported second quarter 2024 results with total revenues of $760.8 million, down 6% year-over-year. Operating income decreased 58% to $19.6 million, while operating margin fell 320 basis points to 2.6%. Diluted EPS dropped 68% to $0.15. The company faced industry-wide headwinds but saw improvements in One-Way Truckload production and Mexico cross-border business. Werner implemented cost reduction measures and advanced its technology strategy. The Truckload Transportation Services segment saw a 6% revenue decline, while the Logistics segment experienced a 7% decrease. Despite challenges, Werner remains focused on positioning for market recovery and creating long-term shareholder value.
Werner Enterprises (Nasdaq: WERN) celebrates 25 years of operations in Mexico. Starting in 1999 with a small office in Mexico City, the company now has a significant presence with multiple offices and strategically located terminals along the U.S.-Mexico border. These include locations in Brownsville, Nogales, Calexico, and San Diego. Key milestones include the inauguration of the Laredo Terminal in 2001, the purchase of the El Paso terminal in 2006, and the opening of a refrigerated cross-dock at Laredo in 2019. Werner's service offerings have expanded from a through-trailer dry van service to include temperature-controlled, brokerage, intermodal, and cross-docking services. With C-TPAT certification received in 2003, the company emphasizes security and compliance in its cross-border operations. Werner's Chairman and CEO, Derek Leathers, acknowledges the challenges but highlights the company's experience and strong relationships in overcoming these obstacles. Currently, Werner's Cross-Border Team consists of 150 associates across 10 offices in Mexico and the U.S.
Werner (Nasdaq: WERN) has been honored with the 2024 Top Supply Chain Projects award by Supply & Demand Chain Executive for its AI-powered dynamic pricing engine. This innovative solution optimizes transportation costs, enhances pricing accuracy, and streamlines pricing processes. The development was initiated to address limitations in flexibility and outdated technology of the previous platform. Werner's new engine has resulted in significant improvements, including better efficiency, increased customer satisfaction, faster response times, and cost optimization. Executive VP Daragh Mahon highlights the company's commitment to innovation and internal process upgrades. This award recognizes Werner’s efforts in making the supply chain more efficient, safe, and reliable.
Werner Enterprises (Nasdaq: WERN), a leading transportation and logistics provider, is set to release its second quarter earnings on July 30, 2024, after market close. The company will hold an earnings call at 4:00 p.m. CT the same day to discuss the results and outlook for 2024. The earnings release, live webcast, and slides will be accessible on Werner's website in the “Investors” section. Interested parties can join the call by dialing (844) 701-1165 (domestic) or (412) 317-5498 (international). A replay will be available from 6:00 p.m. CT on July 30 through August 31, 2024, by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international) and using access code 5388433. Webcast replays will also be posted on Werner's website.
Werner Enterprises has been recognized as a Top 3PL and Cold Storage Provider by Food Logistics for the eighth consecutive year. This accolade underscores Werner's commitment to delivering essential refrigerated food and beverage products nationwide. Highlighting its innovative technology solutions, modern fleet, skilled drivers, and extensive carrier network, Werner continues to address supply chain challenges effectively. Additionally, Werner's state-of-the-art facility in Laredo, Texas, enhances its cross-docking capabilities for refrigerated goods. The award recognizes companies that advance in temperature monitoring, transportation, and warehouse management systems.
Werner Enterprises (Nasdaq: WERN), a leading transportation and logistics provider, will participate in the 2024 Wells Fargo Industrials Conference on June 11, 2024, in Chicago, Illinois. Key speakers include CEO Derek J. Leathers and CFO Christopher D. Wikoff. The company will host a fireside chat from 12:00 p.m. to 12:35 p.m. CT, with a live webcast accessible on the Werner website. Werner Enterprises, with 2023 revenues of $3.3 billion, operates a modern fleet and employs nearly 14,000 people. They offer various truckload and logistics services and are committed to sustainability and diversity.
Werner Enterprises has integrated a 2021 International RH Series hydrogen fuel cell truck into its fleet, underscoring its dedication to sustainability and innovation. This Class 8 vehicle features a 226" wheelbase and operates emissions-free, thanks to technology from Accelera by Cummins. This move aligns with Werner's goal to reduce its carbon footprint by 55% by 2035. The truck will be showcased at the Advanced Clean Transportation Expo in Las Vegas from May 20-23. Werner's collaboration involves industry leaders like Accelera, Navistar, SoCal Gas, and the U.S. Department of Energy. Werner aims to test and validate new technologies to enhance fuel efficiency and reduce pollution, further demonstrating its commitment to a greener future.
Werner Enterprises (Nasdaq: WERN), a leading transportation and logistics company, announced significant actions by its Board of Directors on May 14, 2024. The Board approved a new stock repurchase program, allowing the company to buy back up to 5 million shares of its common stock. This new program replaces the previous authorization, which had 1.6 million shares remaining. The program will be active until the Board decides to withdraw it.
Additionally, the Board declared a regular quarterly cash dividend of $0.14 per common share, payable on July 17, 2024, to shareholders recorded by July 1, 2024. Werner Enterprises has consistently paid quarterly dividends since July 1987.
Werner Enterprises (Nasdaq: WERN), a prominent transportation and logistics provider, is set to participate in the Wolfe Research 17th Annual Global Transportation and Industrials Conference on May 22, 2024, in New York. Key executives, including CEO Derek J. Leathers and CFO Christopher D. Wikoff, will represent Werner. Leathers will also be part of a panel discussion from 11:30 a.m. to 12:15 p.m. ET. A live webcast will be available on Werner's website under the 'Investors' section. Werner Enterprises boasts 2023 revenues of $3.3 billion, a modern fleet, and nearly 14,000 associates, providing essential truckload transportation and logistics services across North America. The company emphasizes sustainability, diversity, equity, and inclusion.
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