OMAHA, Neb. — Werner Enterprises Inc. said Monday that its first-quarter profit jumped 57 percent as its revenue from fuel surcharges and non-trucking services rose and its labor costs fell.
The company said the declining supply of trucking — as other operators fail — played a great role than to rising demand. It said demand will increase gradually throughout 2010.
Werner said it earned $10.8 million, or 15 cents per share, compared with $6.9 million, or 10 cents per share, in the first quarter of last year.
Revenue rose 8 percent to $425.1 million, up from $394.5 million a year earlier, despite a 1 percent decline in core trucking revenue excluding fuel surcharges.
Non-trucking revenue, a small piece of Werner's business, rose 29 percent. That includes brokerage, freight management and logistics services. Money from fuel surcharges jumped 59 percent.
The company cut spending on salaries, wages and benefits more than 4 percent.
The company said it expects to keep its fleet size constant at about 7,300 trucks while trying to raise revenue per mile and equipment use.
Kevin Jones of The Trucker staff can be reached for comment at email@example.com.
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