Werner Entprise Stock Price, News & Analysis

Werner Enterprises (Nasdaq: WERN) has released its Corporate Social Responsibility (CSR) Update Report, emphasizing the integration of Environmental, Social, and Governance (ESG) strategies into its business model. CEO Derek Leathers stated that the report benchmarks progress and outlines future goals. Key highlights include the formation of the WernerBlue Task Force, a new Volunteer Time Off program, and investments in alternative fuels. New goals include launching a supplier diversity program and anti-trafficking training by the end of 2023, signaling a strong commitment to sustainability and diversity efforts.

Werner Enterprises has signed a letter of intent to purchase 500 Cummins 15-liter hydrogen internal combustion engines, pending availability. Both companies are focused on sustainability, with Werner targeting a 55% reduction in greenhouse gas emissions by 2035. Cummins aims to manufacture hydrogen engines at scale by the end of the decade, highlighting their potential in the decarbonization journey. The engines are designed to integrate seamlessly with existing systems, offering low costs and durability comparable to diesel engines.

Werner Enterprises (WERN) has declared a quarterly cash dividend of $0.13 per common share, payable on October 18, 2022, to stockholders of record as of October 3, 2022. This dividend marks the continuation of Werner's commitment to returning value to its shareholders, having consistently paid dividends since July 1987. In 2021, the company reported revenues of $2.7 billion and is recognized for its innovative logistics services across North America.

Werner Enterprises, a leading transportation and logistics provider, announced its participation in two upcoming investment conferences. The Susquehanna Virtual Industrials, Energy & Airline Conference is scheduled for August 11, 2022, and the Cowen Virtual Global Transportation & Sustainable Mobility Conference will take place on September 7, 2022. Key executives, including CEO Derek J. Leathers and CFO John J. Steele, will speak during the Cowen conference. Investor materials will be available on the company’s website before each event. Werner generated revenues of $2.7 billion in 2021.

Werner Enterprises (Nasdaq: WERN) announced the retirement of John J. Steele, EVP, Treasurer, and CFO, after 33 years with the company. Steele, who has served as CFO for 25 years, will assist in the transition to his successor. Chairman Derek J. Leathers praised Steele's contributions and leadership in positioning Werner as a leading transportation and logistics provider. The company is now in search of a new CFO while Steele remains in his roles to ensure a smooth transition. Werner achieved $2.7 billion in revenue in 2021 and is committed to sustainability and diversity.

Werner Enterprises reported Q2 2022 revenues of $836.3 million, up 29% YoY, with a diluted EPS of $1.12, a 6% increase. Operating income fell 3% to $74.9 million, reflecting unexpected insurance costs rising $20.3 million due to prior accident claims. The Truckload Transportation Services segment saw revenue growth of 25%, but operating income decreased by 12% amid rising costs. Conversely, Werner Logistics achieved an operating income increase of 218%. The company plans to invest in new equipment amid a 2% to 5% growth outlook for truck capacity.

Werner Enterprises (Nasdaq: WERN) has reached a $150M settlement concerning a tragic motor vehicle accident lawsuit in Texas. The incident, which occurred in May 2020, involved a Werner truck striking a parked passenger vehicle, resulting in the deaths of two children left inside. Although Werner disputes the allegations, they opted for a settlement to prevent protracted litigation and potential larger 'nuclear verdicts.' The settlement will be covered by Werner and its insurers. The company maintains its commitment to safety and responsibility in operations.