Business
Werner Enterprises Reports Fourth Quarter and Annual 2022 Results
Fourth Quarter 2022 Highlights (all metrics compared to fourth quarter 2021) Total revenues of $861.5 million, up 13% Operating income of $88.4 million, down
About this update from Werner Enterprises, Inc.
[{"type":"text","content":"\nFourth Quarter 2022 Highlights (all metrics compared to fourth quarter 2021)\n\n\nTotal revenues of $861.5 million, up 13%\n\n\nOperating income of $88.4 million, down 10%; non-GAAP adjusted operating income of $89.9 million, down 11%\n\n\nOperating margin of 10.3%, down 260 basis points; non-GAAP adjusted operating margin of 10.4%, down 280 basis points\n\n\nDiluted EPS of $0.94, down 18%; non-GAAP adjusted diluted EPS of $0.99, down 13%\n\n\n2022 Highlights (all metrics compared to 2021)\n\n\nTotal revenues of $3.29 billion, up 20%\n\n\nOperating income of $323.1 million, up 5%; non-GAAP adjusted operating income of $333.2 million, up 5%\n\n\nOperating margin of 9.8%, down 150 basis points; non-GAAP adjusted operating margin of 10.1%, down 150 basis points\n\n\nDiluted EPS of $3.74, down 2%; non-GAAP adjusted diluted EPS of $3.70, up 7%\n\n\n OMAHA, Neb.--(BUSINESS WIRE)--\nWerner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today reported results for the fourth quarter and year ended December 31, 2022.\n\n“We made significant progress executing our strategy in 2022, and also closed on two additive acquisitions in fourth quarter. While changing macroeconomic conditions led to a lackluster truckload and logistics freight market in fourth quarter, the durability and resilience of our business model, combined with the efforts of our determined and talented team, produced strong fourth quarter results,” said Derek J. Leathers, Chairman, President and CEO. “As we look out into what remains an uncertain and more difficult operating environment, we remain laser focused on implementing our DRIVE strategy to deliver value to our customers, associates, shareholders, suppliers and carrier partners.”\n\nTotal revenues for the quarter were $861.5 million, an increase of $96.3 million compared to the prior year quarter, due to Truckload Transportation Services (“TTS”) revenues growth of $71.6 million and Logistics revenues growth of $28.5 million.\n\nOperating income of $88.4 million decreased $10.1 million, or 10%, while operating margin of 10.3% decreased 260 basis points. On a non-GAAP basis, adjusted operating income of $89.9 million decreased $11.2 million, or 11%. Adjusted operating margin of 10.4% declined 280 basis points from 13.2% for the same quarter last year.\n\nTruckload Transportation S...