Truckload carrier Werner Enterprises sees Q3 revenue up to $951 million

Overview

• US transportation and logistics provider posts prelim Q3 revenue of $946 mln to $951 mln

• Prelim Q3 GAAP EPS of $0.10 to $0.11

• Prelim Q3 non-GAAP adj EPS of $0.15 to $0.16

Result Drivers

• COST HEADWINDS - Co said Q3 results were negatively affected by rising fuel prices, driver recruitment and retention investments, and a late-quarter insurance reserve adjustment

• INSURANCE RESERVE - Late-quarter insurance reserve adjustment related to past claims weighed on results

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the ground freight & logistics peer group is "buy."

• Wall Street's median 12-month price target for Werner Enterprises, Inc. is $40.50, about 23.4% above its October 16 closing price of $32.81

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 29 three months ago

Reuters Recommended Reads

• Oct 16 - US regional banks join bigger peers in signaling resilient economy as lending holds firm

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)