Werner Enterprises Q1 Profit Down

(RTTNews) - Werner Enterprises Inc. (WERN) reported that its first-quarter net income decreased 36% to $23.1 million from last year. Earnings per share for the quarter were $0.33 down 35% from the prior year. On a non-GAAP basis, adjusted earnings per share of $0.40 decreased 24% compared to $0.52 in first quarter 2019.

Total revenues for the quarter decreased 1% to $592.7 million versus the prior year quarter, primarily attributable to lower Logistics and fuel surcharge revenues, partially offset by an increase in dedicated fleet revenues.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share and revenues of $576.87 million. Analysts' estimates typically exclude special items.