OMAHA, Neb.--(BUSINESS WIRE)--
Werner Enterprises, Inc. (NASDAQ: WERN) ("Werner"), one of the nation’s
largest transportation and logistics companies, announced today that,
based on factors known as of the date of this release, it expects
earnings per diluted share for the second quarter ending June 30, 2016
to be in the range of 21 cents to 25 cents per share. The expected
earnings include a pre-tax gain on sale of real estate of $3.4 million.
The principal factors negatively affecting earnings per share in second
quarter 2016 compared to second quarter 2015 include: (1) sluggish
freight market conditions resulting in decelerating rate per total mile
trends from difficult 2016 customer rate negotiations and weak spot
market rates, lower miles per truck and increased empty miles, (2) the
cost of driver pay increases implemented first quarter 2016 and
independent contractor per mile increases in fourth quarter 2015, and
(3) a soft used truck market. To address these more challenging market
conditions, Werner continues to focus on various cost management
initiatives.
Werner intends to continue, as part of its strategic plan, to reduce the
average age of its truck fleet to approximately 1.5 years by December
31, 2016, but does not plan to grow its truck fleet until such time as
its freight and rate markets show meaningful improvement.
Werner Enterprises, Inc. was founded in 1956 and is a premier
transportation and logistics company, with coverage throughout North
America, Asia, Europe, South America, Africa and Australia. Werner
maintains its global headquarters in Omaha, Nebraska and maintains
offices in the United States, Canada, Mexico, China and Australia.
Werner is among the five largest truckload carriers in the United
States, with a diversified portfolio of transportation services that
includes dedicated van, temperature-controlled and flatbed; medium-
to-long-haul, regional and local van; and expedited services. Werner's
Value Added Services portfolio includes freight management, truck
brokerage, intermodal and international services. International services
are provided through Werner’s domestic and global subsidiary companies
and include ocean, air and ground transportation; freight forwarding;
and customs brokerage.
Werner Enterprises, Inc.’s common stock trades on the NASDAQ Global
Select MarketSM under the symbol “WERN”. For further
information about Werner, visit the company’s website at www.werner.com.
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Such forward-looking
statements are based on information presently available to the Company’s
management and are current only as of the date made. Actual results
could also differ materially from those anticipated as a result of a
number of factors, including, but not limited to, those discussed in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2015. For those reasons, undue reliance should not be placed on any
forward-looking statement. The Company assumes no duty or obligation to
update or revise any forward-looking statement, although it may do so
from time to time as management believes is warranted or as may be
required by applicable securities law. Any such updates or revisions may
be made by filing reports with the U.S. Securities and Exchange
Commission, through the issuance of press releases or by other methods
of public disclosure.
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Source: Werner Enterprises, Inc.