The trucking and logistics company reported a 24 percent increase in net income compared to the second quarter of 2014.
Werner Enterprises, Inc., a publicly traded trucking and logistics provider, reported a net income of $31.85 million for the second quarter of 2015, up 24 percent from the second quarter of 2014.
Revenues at the company increased 3 percent to $103.45 million compared with the second quarter of 2014.
Freight demand thrived in the second quarter, and is continuing to thrive in the third quarter, Werner said in its most recent financial statements. Werner attributed the demand to constrained truck capacity and an improving economy in the retail, consumer products and grocery products markets.
Diesel fuel products for the quarter were down $1.15 a gallon from the second quarter of 2014, but prices increased $0.09 from the first quarter of 2015.
Werner averaged 7,247 trucks in service in its Truckload segment and 51 intermodal drayage trucks in its VAS segment during the second quarter.
“Our financial position remains strong. As of June 30, 2015, we had $75.0 million of debt outstanding and $878.2 million of stockholders’ equity,” Werner said in a statement. “During second quarter 2015, the Company purchased 225,000 shares of its common stock for a total cost of $6.4 million.”
Based in Omaha, Neb., Werner offers logistics services throughout North America, Asia, Europe, South America, Africa and Australia.
Werner sees Q2 profits grow
