NASDAQ$WERN
Werner Enterprises Inc. · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Werner's financial performance declined due to macroeconomic conditions and a soft freight market, but strategic acquisitions and a resilient business model contributed to strong results.
Werner Enterprises reported a 13% increase in total revenues to $861.5 million for Q4 2022, driven by growth in both Truckload Transportation Services and Logistics revenues. However, operating income decreased by 10% to $88.4 million, and diluted EPS decreased by 18% to $0.94. The company closed on two additive acquisitions during the quarter.
- Total revenues increased by 13% to $861.5 million.
- Operating income decreased by 10% to $88.4 million.
- Diluted EPS decreased by 18% to $0.94.
- Two acquisitions, ReedTMS Logistics and Baylor Trucking, were completed during the quarter.
Headline financials
Revenue & EPS history
Werner · Revenue · Quarterly
$861M
Revenue by segment
Werner · $802M total across 2 segments · Q3 2023
- Truckload Transportation Services$572M-8.0%71.3%
- Werner Logistics$230M+23.0%28.7%
Forward guidance
Werner provided guidance for 2023, including TTS truck growth of 1% to 4% and net capital expenditures of $350M to $400M.
Tailwinds
- Majority of 2023 growth planned for Dedicated and back half weighted
- Expect low single digit increase YoY with difficult comp
- Softening OWT freight market earlier in the year then strengthening in 2H23
- Effective income tax rate of 24.0% to 25.0% in 2023 compared to 4Q22 of 24.7%.
- Average truck age of 2.2 years and trailer age of 5.0 years as of 12/31/23, compared to 2.3 years and 5.0 years as of 12/31/22.
Headwinds
- Subject to availability of new equipment
- Softening OWT freight market earlier in the year then strengthening in 2H23
- Majority of 2023 growth planned for Dedicated and back half weighted
- Subject to availability of new equipment
- Expect low single digit increase YoY with difficult comp
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.2%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+0.3%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+10.1%
Q1 2017
Best reaction
-9.7%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.8% | -0.1% | +20.7% | |
| Q4 2025 | -8.2% | -9.0% | -18.7% | |
| Q3 2025 | +1.3% | +4.9% | +0.7% | |
| Q1 2025 | -1.4% | -7.1% | -6.4% | |
| Q4 2024 | -0.6% | -0.4% | -7.1% | |
| Q3 2024 | -2.3% | -1.7% | +6.0% | |
| Q2 2024 | -0.3% | -5.2% | -6.9% | |
| Q1 2024 | +1.3% | +4.6% | +5.7% | |
| Q4 2023 | +5.9% | +4.8% | -1.5% | |
| Q3 2023 | -0.9% | +2.4% | +12.7% | |
| Q2 2023 | -1.3% | -1.9% | -10.5% | |
| Q1 2023 | -1.2% | -1.1% | -3.2% | |
| Q4 2022 | -1.3% | -4.1% | -4.0% | |
| Q3 2022 | -6.6% | -0.2% | +11.2% | |
| Q2 2022 | -0.8% | +0.2% | -5.9% | |
| Q1 2022 | +7.2% | +7.3% | +4.0% | |
| Q4 2021 | -1.4% | -1.9% | +0.2% | |
| Q3 2021 | -2.8% | -1.9% | -2.6% | |
| Q2 2021 | +2.4% | +3.1% | +6.9% | |
| Q1 2021 | +4.7% | +5.9% | +7.7% | |
| Q4 2020 | +2.2% | +5.9% | +14.6% | |
| Q3 2020 | -3.3% | -3.8% | +1.1% | |
| Q2 2020 | +4.5% | +2.7% | +9.8% | |
| Q1 2020 | -2.0% | -2.4% | +8.6% | |
| Q4 2019 | +5.5% | +2.7% | -11.4% | |
| Q3 2019 | +3.0% | +2.9% | -3.3% | |
| Q2 2019 | -1.2% | +0.5% | -8.6% | |
| Q1 2019 | -1.1% | -7.3% | -18.7% | |
| Q4 2018 | +2.2% | +0.4% | +0.5% | |
| Q3 2018 | +0.4% | +1.6% | +0.3% | |
| Q2 2018 | -8.1% | -7.6% | -5.6% | |
| Q1 2018 | -5.1% | -8.6% | +0.0% | |
| Q4 2017 | -5.0% | -6.9% | -13.1% | |
| Q3 2017 | +0.7% | -0.3% | -4.8% | |
| Q2 2017 | +5.4% | +1.4% | +6.3% | |
| Q1 2017 | +10.1% | +12.0% | +4.9% | |
| Q4 2016 | +2.0% | +1.3% | +3.6% | |
| Q3 2016 | +1.3% | +5.7% | +18.9% | |
| Q2 2016 | +5.2% | +2.5% | -0.5% | |
| Q1 2016 | -9.7% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +2.5% | — | — | |
| Q2 2015 | +5.4% | — | — | |
| Q1 2015 | -3.6% | — | — | |
| Q4 2014 | -5.2% | — | — | |
| Q3 2014 | +5.1% | — | — | |
| Q2 2014 | -2.3% | — | — | |
| Q1 2014 | +2.0% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | +0.6% | — | — | |
| Q2 2013 | -5.2% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | -0.3% | — | — | |
| Q2 2012 | -0.2% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | +2.5% | — | — | |
| Q1 2010 | +1.1% | — | — | |
| Q1 2011 | +2.9% | — | — | |
| Q4 2010 | +1.6% | — | — | |
| Q4 2008 | +1.6% | — | — | |
| Q3 2010 | +2.1% | — | — | |
| Q3 2009 | +2.1% | — | — | |
| Q2 2009 | -3.8% | — | — | |
| Q2 2010 | -3.8% | — | — | |
| Q4 2009 | -3.8% | — | — |
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