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Werner Enterprises (WERN)

Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico and China. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. The Werner Logistics portfolio includes truck brokerage, freight management, intermodal, international and final mile services. International services are provided through Werner's domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage. Werner Enterprises, Inc.'s common stock trades on the NASDAQ Global Select MarketSM under the symbol 'WERN'.

Company profile

Ticker
WERN
Exchange
Website
CEO
Derek Leathers
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Gra-Gar, LLC • Werner Management, Inc. • Fleet Truck Sales, Inc. • Werner Global Logistics, Inc. • Werner Transportation, Inc. • Werner de Mexico • Werner Enterprises Canada Corporation • Werner Leasing de Mexico • Werner Global Logistics U.S., LLC • Werner Global Logistics (Barbados), SRL ...
IRS number
470648386

WERN stock data

Analyst ratings and price targets

Last 3 months

Calendar

9 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 May 22 Scott C Arves Common Stock Grant Acquire A No No 0 2,410 0 5,769
10 May 22 Bird Kenneth M Common Stock Grant Acquire A No No 0 2,410 0 17,363
10 May 22 Duren Diane K Common Stock Grant Acquire A No No 0 2,410 0 18,263
10 May 22 Holmes Jack A Common Stock Grant Acquire A No No 0 2,410 0 8,896
85.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 281 270 +4.1%
Opened positions 44 42 +4.8%
Closed positions 33 36 -8.3%
Increased positions 114 92 +23.9%
Reduced positions 90 102 -11.8%
13F shares Current Prev Q Change
Total value 6.93B 2.65B +161.2%
Total shares 55.75M 55.66M +0.2%
Total puts 35.6K 300K -88.1%
Total calls 28.8K 9.5K +203.2%
Total put/call ratio 1.2 31.6 -96.1%
Largest owners Shares Value Change
BLK Blackrock 9.52M $390.32M -16.2%
Vanguard 5.57M $228.48M +0.4%
Dimensional Fund Advisors 3.69M $151.09M +0.9%
MCQEF Macquarie 3.52M $144.42M +3.4%
Victory Capital Management 2.62M $107.18M +8.4%
LSV Asset Management 2.53M $103.89M +44.6%
STT State Street 2.41M $98.8M +3.4%
Allspring Global Investments 1.34M $54.95M +6.7%
Geode Capital Management 1.1M $45.26M -16.4%
NTRS Northern Trust 896.49K $36.76M -4.7%
Largest transactions Shares Bought/sold Change
BLK Blackrock 9.52M -1.83M -16.2%
Millennium Management 888.64K +869.23K +4478.0%
LSV Asset Management 2.53M +781.75K +44.6%
Jacobs Levy Equity Management 606.84K +599.34K +7981.6%
Norges Bank 0 -569.57K EXIT
GS Goldman Sachs 286.54K -382.73K -57.2%
Renaissance Technologies 400.16K +382K +2103.2%
AMP Ameriprise Financial 163.51K -329.81K -66.9%
Foundry Partners 0 -266.12K EXIT
DekaBank Deutsche Girozentrale 767.34K +252.17K +48.9%

Financial report summary

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Risks
  • Our business is subject to overall economic conditions that could have a material adverse effect on our results of operations.
  • Difficulty in recruiting and retaining experienced drivers, recent driver training school graduates and independent contractors impacts our results of operations.
  • Increases in fuel prices and shortages of fuel can have a material adverse effect on the results of operations and profitability.
  • We operate in a highly competitive industry, which may limit growth opportunities and reduce profitability.
  • The seasonal pattern generally experienced in the trucking industry may affect our periodic results during traditionally slower shipping periods and winter months.
  • We depend on key customers, the loss or financial failure of which may have a material adverse effect on our operations and profitability.
  • We depend on the services of third-party capacity providers, the availability of which could affect our profitability and limit growth in our Werner Logistics segment.
  • If we cannot effectively manage the challenges associated with doing business internationally, our revenues and profitability may suffer.
  • Difficulty in obtaining materials, equipment, goods, and services from our vendors and suppliers could adversely affect our business.
  • We use our information systems extensively for day-to-day operations, and service interruptions or a failure of our information technology infrastructure or a breach of our information security systems, networks or processes could have a material adverse effect on our business.
  • The COVID-19 pandemic has adversely impacted our business, as well as the operations of our customers and suppliers.
  • We operate in a highly regulated industry. Changes in existing regulations or violations of existing or future regulations could adversely affect our operations and profitability.
  • Our operations are subject to applicable environmental laws and regulations, the violation of which could result in substantial fines or penalties.
  • Our earnings could be reduced by increases in the number of insurance claims, cost per claim, costs of insurance premiums or availability of insurance coverage.
  • Decreased demand for our used revenue equipment could result in lower unit sales and resale values.
Management Discussion
  • Operating revenues increased 15.3% in 2021 compared to 2020. When comparing 2021 to 2020, TTS segment revenues increased $201.9 million, or 11.0%. Revenues for the Werner Logistics segment increased $152.7 million or 32.5%.
  • Freight demand was strong throughout 2021 in our Dedicated and One-Way Truckload fleets. Freight demand has continued to be strong during the first two months of 2022.
  • Trucking revenues, net of fuel surcharge, increased 7.3% in 2021 compared to 2020 due to a 4.3% increase in average revenues per tractor per week, net of fuel surcharge and a 2.9% increase in the average number of tractors in service. The increase in average revenues per tractor was due primarily to improved pricing in both Dedicated and One-Way Truckload, partially offset by a decline in miles per tractor caused by tractors down due to equipment parts shortages, more drivers unavailable to work due to COVID quarantine protocols, a 2% shorter average loaded length of haul for the TTS segment, and other factors. We currently expect average revenues per total mile, net of fuel surcharge, for the One-Way Truckload fleet to remain strong for the first half of 2022 and to increase in a range of 16% to 19% when compared to the first half of 2021, and we expect Dedicated average revenues per tractor per week, net of fuel surcharge, to increase in a range of 3% to 5% in 2022 compared to 2021.

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