Werner Q1 revenue down 8%, EPS drops 82% to $0.10; adjusted EPS $0.14 down 77%

WERNER ENTERPRISES INC

2024-Q1 EPS reported $0.10 revenue$769,080,000

Total revenues $769.1M, down 8% YoY; TTS revenues $551.1M (-6%), Logistics $202.5M (-11%).
Operating income $15.6M (-71%); operating margin 2.0% vs 6.4% prior year; adjusted operating margin 2.4%.
Diluted EPS $0.10 vs $0.55 prior year; adjusted diluted EPS $0.14 vs $0.60.
CEO cites persistent excess capacity, pricing pressure, adverse weather as headwinds.
Net income $6.3M (-82%); company reduced debt and repurchased shares during quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WERNER ENTERPRISES INC reported first quarter ended March 31, 2024 results: revenue $769.1 million, net income $6.3 million, EPS $0.10.

Period: first quarter ended March 31, 2024
Revenue: $769.1 million
Net income: $6.3 million
EPS: $0.10
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- Werner Enterprises Reports First Quarter 2024 Results First Quarter 2024 Highlights (all metrics compared to first quarter 2023) • Total revenues of $769.1 million, down 8% • Operating income of $15.6 million, down 71%; non-GAAP adjusted operating income of $18.6 million, down 68% • Operating margin of 2.0%, down 440 basis points; non-GAAP

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Source: SEC EDGAR

accession 0000793074-24-000034

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