Werner reports Q1 adjusted EPS 2c, consensus (5c)

Reports Q1 revenue $808.61M, consensus $813.91M. “The first quarter reflects early results from our strategic positioning and positive momentum in our core business,” said Derek Leathers, Chairman and CEO. “Dedicated revenue and fleet size grew, bolstered by our FirstFleet acquisition, improving rates, and a strong 95% customer retention rate. Restructuring in our One-Way Truckload business is yielding a near double-digit increase in revenue per truck. Logistics revenues remained flat year-over-year, with growth in Intermodal and Final Mile. And, overall operating margins are improving. Through continued cost discipline, and a relentless focus on safety, service and innovation, Werner (WERN) remains well-positioned to drive better financial results as market conditions tighten throughout the year.”