US-based transport and logistics operator, Werner Enterprises, has reported its financial results for the third quarter.
Total revenues for the quarter were €826 million, an increase of around €124.5 million compared to the prior year due to its Truckload Transportation Services (TTS) revenues growth of €94 million and logistics revenues growth of €29.1 million.
Operating income was €76.2 million, which increased by seven per cent or €4.9 million year-on-year (YOY).
On a non-GAAP basis, Werner’s adjusting operating income of €79.4 million increased by eight per cent.
Werner Enterprises CEO, Derek Leathers, said the company produced positive financial results despite challenging operating conditions.
“Strong and resilient performance from our durable dedicated fleet more than offset moderating results in our one-way truckload fleet and logistics segment,” he said.
“We are expecting a more subdued peak freight market in fourth quarter compared to a very strong peak freight market in fourth quarter a year ago.”
Werner’s TTS segment, total revenues came in at €620.2 million, with operating income increasing by €11.3 million to €73.9 million.
The logistics segment saw revenues of €186.6 million with an operating income of €5.1 million, decreasing by €2.5 million YOY.
Last month, Werner acquired truckload carrier, Baylor Trucking.