22 April 2014
Werner Enterprises, Inc. (NASDAQ: WERN) said its first quarter 2014 freight demand showed the strongest first quarter performance in ten years.
A combination of several factors contributed to the demand strength, the company said, including the early timing of the 2014 Chinese New Year, relatively lean retail customer inventory levels following the fourth quarter 2013 holiday season, multiple severe winter storms that created a backlog of truckload freight shipments and also caused some severely delayed intermodal freight shipments to shift to truckload.
Average revenues per total mile, net of fuel surcharge, rose 3.1 percent in first quarter 2014 compared to first quarter 2013. This was pinned to a combination of increased rates with some existing customers, new customer business, surcharges for capacity creation and higher transactional spot market rates in the one-way truckload fleet.
Werner Enterprises was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Its website is at www.werner.com.