Werner Enterprises has announced its financial results for the year ended December 31, 2014. The company reported revenue of $2.14bn, which represented an increase of 5% over the prior year. It also recorded operating income of $160.09m, an increase of 15% year-on-year. Accordingly Werner Enterprises’ margin stood at 7.48%.
Werner Enterprises states that its growth over 2014 was particularly strong during Q4 and was mainly driven by higher volumes generated by the US economy which went beyond the beyond the company’s capacity.
Werner states that truck capacity has been challenged by an increasingly competitive driver market and heightened regulatory cost increases for truck ownership and safety. It therefore expect the favourable demand trend relative to constrained supply to continue in 2015.
The increase in operating income was largely attributable to higher revenue per tractor and higher revenue per mile. These increases were themselves driven by the company’s ability to select more productive contracts and longer more efficient routes by virtue of high demand and the introduction of freight optimization systems. The lower fuel costs towards the end of the year also had a positive impact on profitability.
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