Werner Enterprises Inc WERN is scheduled to report its first-quarter 2024 results on Apr 30 after market close.
The company has a disappointing earnings history, having missed the Zacks Consensus Estimate in each of the preceding four quarters. The average miss is 12.03%.
Expectations
This transportation company is expected to post quarterly earnings of 28 cents per share in its upcoming report, which implies a year-over-year decline of 53.33%.
Revenues are expected to be $795.06 million, down 4.52% from the year-ago quarter.
Let’s see how things have shaped up for Werner Enterprises this earnings season.
We expect WERN’s bottom line in the to-be-reported quarter to be challenged by high operating expenses, primarily due to increased salaries, wages and benefits, fuel and rent and purchased transportation expenses. The weak freight demand scenario is also expected to dent the first-quarter performance.
Due to the freight-related weakness, the company’s main division — Truckload Transportation Services — is expected to dish out a lackluster performance in the March quarter. However, the Logistics business is likely to have put up an encouraging show, driven by the company’s efforts to expand its final mile capabilities.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for WERN this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Werner Enterprises has an Earnings ESP of +4.19% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Werner Enterprises, Inc. Price and EPS Surprise
Werner Enterprises, Inc. price-eps-surprise | Werner Enterprises, Inc. Quote
Highlights of Q4
WERN’s fourth-quarter 2023 earnings per share of 39 cents lagged the Zacks Consensus Estimate of 44 cents and declined 61% on a year-over-year basis. Total revenues of $821.9 million outperformed the Zacks Consensus Estimate of $811.1 million. However, the top line dipped 5% on a year-over-year basis due to a $54.7 million decrease in Truckload Transportation Services revenues, partially offset by Logistics revenue growth of $13.5 million, which includes the Reed TMS acquisition.
Q1 Performances of Other Transportation Companies
Delta Air Lines’ DAL first-quarter 2024 earnings (excluding 39 cents from non-recurring items) of 45 cents per share comfortably beat the Zacks Consensus Estimate of $0.36 and improved 7.75% year over year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Revenues of $13.75 billion surpassed the Zacks Consensus Estimate of $12.84 billion and increased 7.75% on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) came in at $12.6 billion, up 6% year over year.
United Airlines UAL reported a first-quarter 2024 loss (excluding 23 cents from non-recurring items) of 15 cents per share, narrower than the Zacks Consensus Estimate of 53 cents and improved 76.19% year over year.
Operating revenues of $12.54 billion beat the Zacks Consensus Estimate of $12.43 billion. The top line increased 9.71% year over year due to upbeat air travel demand. Cargo revenues fell 1.8% year over year to $391 million. Revenues from other sources jumped 10.3% year over year to $835 million.
J.B. Hunt Transport Services’ JBHT first-quarter 2024 earnings per share of $1.22 missed the Zacks Consensus Estimate of $1.53 and declined 35.45% year over year.
Total operating revenues of $2.94 billion lagged the Zacks Consensus Estimate of $3.12 billion and fell 9% year over year. Total operating revenues, excluding fuel surcharge revenues, decreased approximately 6.5% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Only $1 to See All Zacks’ Buys and Sells
We’re not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not – they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report
Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
