Stock Monitor: Knight-Swift Transportation Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 07, 2018 / Active-Investors.com has just released a free earnings report on Werner Enterprises, Inc. (NASDAQ: WERN) ("Werner"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WERN. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 29, 2018. The transportation and logistics Company outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Knight-Swift Transportation Holdings Inc. (NYSE: KNX), which also belongs to the Services sector as the Company Werner Enterprises. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Werner Enterprises most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, Werner's total revenues grew 9% to $567.37 million compared to $518.83 million in Q4 2016. The Company's revenue numbers exceeded analysts' estimates of $555.8 million.
For the full year FY17, Werner's total revenues advanced 5% to $2.12 billion compared to $2.01 billion in FY16.
For Q4 2017, Werner posted a net income of $141.13 million, or $1.94 per diluted share, compared to $21.81 million, or $0.30 per diluted share, in Q4 2016. The Company's reported quarter results included a non-cash reduction in income tax expenses of $1.52 per diluted share, which resulted from the Company's revalued net deferred income tax liabilities to reflect the lower federal income tax rate as per the recently-enacted Tax Cuts and Jobs Act of 2017 (Tax Reform). During Q4 2017, the Company also recorded income tax benefits $0.03 per share, related to state income tax accruals and other discrete income tax benefits. Excluding the non-cash income Tax Reform benefit, earnings per diluted share were $0.42 for the reported quarter, beating Wall Street's expectations of $0.39 per share.
For FY17, Werner posted a net income of $202.89 million, or $2.80 per diluted share, compared to $79.13 million, or $1.09 per diluted share, in FY16. Excluding the non-cash income Tax Reform benefit, earnings per diluted share were $1.27 for FY17.
During Q4 2017, Werner averaged 7,436 trucks in service in the Truckload Transportation Services ("Truckload") segment and 44 intermodal drayage trucks in the Werner Logistics segment. The Company ended the reported quarter with 7,435 trucks in the Truckload segment, reflecting a y-o-y increase of 335 trucks. The Company's Dedicated segment ended Q4 2017 with 4,000 trucks, or 54% of its total Truckload segment fleet, compared to 3,650 trucks at the end of Q4 2016.
The average age of Werner's truck fleet was 1.9 years as of December 31, 2017. The Company's driver turnover rate once again improved in the reported quarter, achieving its lowest fourth quarter and annual driver turnover rate in 19 years.
During Q4 2017, Diesel fuel prices were $0.37 per gallon higher on a y-o-y basis, and $0. 24 per gallon higher than Q3 2017. For the first 29 days of January 2018, the average diesel fuel price per gallon was $0.44 higher than the average diesel fuel price per gallon in the same period of FY17.
During Q4 2017, Werner's Werner Logistics segment's revenues increased 5% to $112.41 million on a y-o-y basis. The segment's gross margin decreased 182 basis points to 14.4% in the reported quarter compared to 16.2% in the year ago same period. The segment's operating income decreased 214 basis points to 1.8% in Q4 2017 from 3.9% in Q4 2016. The Company noted that tighter carrier capacity in Q4 2017 vis a vis Q4 2016 resulted in higher purchased transportation costs for the Company's predominately contractual logistics business, causing the lower gross margin and operating income percentages. During Q4 2017, Werner Logistics segment's operating ratios were 98.2% compared to 96.1% in Q4 2016.
For Q4 2017, Werner's Truckload segment's revenues were $439.17 million compared to $397.50 million in Q4 2016. The segment's operating income totaled $44.55 million in the reported quarter versus $32.74 million in the year earlier comparable quarter. The Truckload segment's operating ratios were 89.9% and 91.8% for Q4 2017 and Q4 2016, respectively.
As of December 31, 2017, Werner had $75 million of debt outstanding and over $1.1 billion of stockholders' equity. The Company's net capital expenditure was $199 million in FY17 compared to $430 million in FY16. For FY18, Werner is expecting net capital expenditure to be in the band of $300 million to $350 million. This range allows for increased investment in the Company's tractor and trailer fleet as a result of the Tax Reform.
Stock Performance Snapshot
February 06, 2018 - At Tuesday's closing bell, Werner Enterprises' stock climbed 1.59%, ending the trading session at $38.25.
Volume traded for the day: 996.03 thousand shares, which was above the 3-month average volume of 767.03 thousand shares.
Stock performance in the last three-month – up 9.13%; previous six-month period – up 27.08%; and past twelve-month period – up 36.61%
After yesterday's close, Werner Enterprises' market cap was at $2.81 billion.
Price to Earnings (P/E) ratio was at 13.69.
The stock has a dividend yield of 0.73%.
The stock is part of the Services sector, categorized under the Trucking industry. This sector was up 1.8% at the end of the session.
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