Werner Q1 2023: Revenue up 9% to $833M; EPS falls 32% to $0.55

WERNER ENTERPRISES INC

2023-Q1 EPS reported $0.55 revenue$832,714,000

Total revenues $832.7M (+9% YoY); operating income $53.4M (-36%), operating margin 6.4%.
Diluted EPS $0.55 (-32%); adjusted diluted EPS $0.60 (-37%).
TTS revenues up 5% to $588M; Logistics up 21% to $229M; both segments saw operating income declines.
Net interest expense increased $5.2M to $6.4M due to higher rates and debt.
CEO cites inflation and soft freight market as headwinds; maintains confidence in diversified model.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WERNER ENTERPRISES INC reported first quarter ended March 31, 2023 results: revenue $832.7 million, net income $35.2 million, EPS $0.55.

Period: first quarter ended March 31, 2023
Revenue: $832.7 million
Net income: $35.2 million
EPS: $0.55
Result: reported results

Exact text from the filing

Werner Enterprises Reports First Quarter 2023 Results First Quarter 2023 Highlights (all metrics compared to first quarter 2022) • Total revenues of $832.7 million, up 9% • Operating income of $53.4 million, down 36%; non-GAAP adjusted operating income of $57.5 million, down 33% • Operating margin of 6.4%, down 450 basis points; non-GAAP adjusted operating margin of 6.9%, down 440 basis points • Diluted EPS of $0.55, down 32%; non-GAAP adjusted diluted EPS of $0.60, down 37% OMAHA, Neb., May 3, 2023 -- Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today reported results for the first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000793074-23-000024

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