The trucking and logistics company increased year-over-year net income by 14 percent compared with 2013.
Werner Enterprises, Inc., a publicly traded trucking and logistics provider, reported in its latest earnings statement a 14 percent increase in total 2014 net income compared with 2013.
For the full year ended Dec. 31, 2014, Werner had total revenues of $2.14 billion, up 5 percent from $2.03 billion in 2013. The company’s net income for 2014 was $98.65 million, up 14 percent year-over-year from $86.79 million in 2013.
The company increased net earnings per diluted share from $1.18 per share to $1.36 in 2014.
Werner’s total revenues for Q4 2014 were $553.19 million, up 7 percent from $517.92 million in Q4 2013. Net income for the last three months of 2014 was $32.7 million, up 48 percent from $22.18 million during the same time period in 2013.
The company said in the statement improved freight demand in 2014 was due to “an improving economy combined with constrained truck capacity” and expected these trends to continue in 2015.
“Truck capacity is challenged by an increasingly competitive driver market and heightened regulatory cost increases for truck ownership and safety,” Werner said. “Thus, we expect this favorable demand trend relative to constrained supply will continue in 2015. There are several new safety regulatory initiatives in process or scheduled for implementation during 2015, and we anticipate they will further tighten truck capacity.”
According to the statement, Werner had $75.0 million of outstanding debt and $833.9 million of stockholders’ equity as of December 31, 2014. During 2014, the company purchased 1.2 million shares of its common stock for a total cost of $30.6 million.
In addition to trucking and van services, Werner also offers non-asset-based “value added services,” including brokerage, freight management, intermodal and international logistics services.
Werner increases revenue and net income in 2014
