Werner Enterprises Inc. (NASDAQ: (WERN) stock surged by 2.69% at last close whereas the WERN stock price declines by 5.49% in the pre-market trading session. Werner Enterprises, Inc. provides customers in the United States, Mexico, and Canada with outstanding truckload transportation and logistical services. Werner is dedicated to working on sustainability and supporting diversity, equity, and inclusiveness as a market leader.
WERN stock’ Financial Results
Werner Enterprises announced financial outcomes for the third quarter of 2021.
- For the third quarter of 2021, the revenue generated was $702.9 million, this is an increase of 19%
- The operating income and non-GAAP adjusted income for the third quarter of 2021 were $71.3 million and $73.9 million respectively. This is a rise of 15% in both operating income and non-GAAP adjusted operating income.
- The company announced its operating margin of 10.1% for the third quarter of 2021 and a non-GAAP adjusted operating margin of 10.5%, this is a decline of 40 bps each.
- And the diluted EPS of the company for the third quarter of 2021 was $0.94, an increase of 41%. However, the non-GAAP adjusted diluted EPS was $0.79, a surge of 14%.
Derek J. Leathers, Chairman, President, and CEO stated that,
In a robust freight market with unparalleled supply chain and labor issues, Werner produced high third-quarter earnings per share yet again. In a very saturated driver market, they made important investments in driver pay and sourcing, allowing them to organically build the Werner fleet this quarter. Simultaneously, they are highly integrating the ECM truckload fleet acquisition, which they completed at the start of the quarter, and ECM is operating admirably.
Despite some unique cost and mileage productivity issues in the quarter, he is optimistic that the strategic measures are putting Werner in a strong place for stable success. Across their varied North American truckload and logistics business, they remain focused on increasing revenue, growing margins, creating free cash flow, and providing excellent safety and service to their clients.
