The Omaha, Nebraska-based Werner Enterprises, Inc., a transportation and logistics company, reported a first-quarter net income of $23.14 million, which represents a 61 percent increase over the $14.34 million net income earned over the same time period in 2014.
With total revenues of $495.65 million, a 1 percent increase over the $492 million reported in Q1 for the previous year. A consistent strength in freight demand in Q1 of 2015 resulted in one of the better first quarter freight markets of the past several years, the company said, and the continuing strengthening economy combined with constrained truck capacity is also contributing to the improved freight demand.
The company also reported a 5.5 percent increase in average revenues per tractor per week, net of fuel surcharge, compared to last year, and a continued focus on securing driver-friendly, highly-productive freight and improved freight selection using its proprietary freight optimization system helped the company raise its average miles per truck by 2 percent, compared to the first quarter of 2014. An increase of 3.5 percent occurred for average revenues per total mile, net of fuel surcharge.
Werner Enterprises averaged 7.013 trucks in service in the Truckload segment, and 50 intermodular drayage truck in the VAS segment during first quarter 2015. The fleet ended Q1 of 2015 with 7,110 trucks in the Truckload segment. In addition its Specialized Services unit, primarily dedicated, completed the quarter with 3,680 trucks, 52 percent of its total Truckload segment fleet.
Werner’s report is a continued bit of good news for the trucking industry, which is in the midst of a rebound it has been in since the recession hit in 2008. With news bits such as this and other similar pieces of news, consumers and professionals can anticipate that the trucking industry is in the midst of an upswing in business. This of course is a positive signal for both the trucking industry and the economy as a whole, as the trucking industry is often a good indicator of the overall health of the economy.
To read more about Werner’s great Q1 report and how it compares to the same time period the year before, click this link.