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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 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.
Werner Enterprises, Inc. reported Q1 2024 results with total revenues of $769.1 million, down 8%, operating income of $15.6 million, down 71%, and diluted EPS of $0.10, down 82%. Despite market challenges, the company focused on cost control, generating solid cash flow, reducing debt, and repurchasing shares. Truckload Transportation Services revenue decreased by 6%, Logistics revenue declined by 11%, and the company experienced losses in strategic investments. Cash flow from operations decreased by 47%, and net capital expenditures saw an 81% decrease.
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