Werner Enterprises Inc (NAS:WERN)
$ 34.6502 0.1902 (0.55%) Market Cap: 2.14 Bil Enterprise Value: 2.80 Bil PE Ratio: 47.47 PB Ratio: 1.48 GF Score: 85/100
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Q2 2024 Werner Enterprises Inc Earnings Call Transcript

Jul 30, 2024 / 09:00PM GMT
Release Date Price: $40.44 (+2.93%)

Key Points

Positve
  • One-way production increased for the fifth consecutive quarter.
  • Mexico volume is growing, and dedicated revenue per truck was up.
  • Logistics segment returned to positive operating income after a challenging first quarter.
  • Solid operating cash flow and share repurchases of more than 1.6 million shares during the quarter.
  • Cost savings initiatives are expected to exceed $45 million for 2024.
Negative
  • Revenues were 6% lower versus the prior year.
  • Adjusted EPS was $0.17, reflecting a significant decline.
  • Adjusted operating margin decreased by 350 basis points.
  • Challenges remain with a smaller dedicated fleet and pressure on One-Way rates.
  • Lower gains on the sale of used equipment impacted financial results.
Operator

Good afternoon and welcome to the Werner Enterprises second-quarter 2024 earnings conference call. All participants will be in listen-only mode. (Operator Instructions)

Please note this event is being recorded. I would now like to turn the conference over to Chris Neil, Senior Vice President of Pricing and Strategic Planning. Please go ahead.

Chris Neil
Werner Enterprises Inc - Senior Vice President, Pricing and Strategic Planning

Good afternoon, everyone. Earlier today, we issued our earnings release with our second quarter results. The release and a supplemental presentation are available in the investor section of our website at werner.com. Today's webcast is being recorded, and will be available for replay later today.

Please see the disclosure statement on slide 2 of the presentation, as well as the disclaimers in our earnings release related to forward-looking statements. Today's remarks contain forward-looking statements that may involve risks, uncertainties, and other factors that could cause actual results to differ materially.

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