Werner says 1Q profit down, revenue up

user-gravatar Headshot

Werner Enterprises said Monday, April 16, that its first-quarter profit fell 29 percent on lower-than-expected freight demand. For the quarter ended March 31, Werner earned $15.7 million, compared with $22 million for the same quarter in 2006.

Operating revenue rose 2.4 percent to $503.9 million from $491.9 million in the same quarter a year ago, while total operating expenses rose 4.7 percent to $476.6 million from $455.1 million.

Werner blamed the drop on an increase in truck capacity and softness in freight demand. The quarter’s results also were hurt by rising fuel prices and the effects of significant winter storms, the company said.