Werner Enterprises Inc (WERN) 10-K Annual Report February 2017



Werner Enterprises, Inc.	Contact:	John J. Steele
14507 Frontier Road		Executive Vice President, Treasurer
P. O. Box 45308		and Chief Financial Officer
Omaha, NE 68145		(402) 894-3036

FOR IMMEDIATE RELEASE

WERNER ENTERPRISES REPORTS FOURTH QUARTER AND ANNUAL 2016

REVENUES AND EARNINGS



	Three Months Ended December 31,						Year Ended December 31,
(In thousands, except per share amounts)	2016		2015		% Change		2016		2015		% Change
Total revenues	$	518,832	$	528,783	(2	)%	$	2,008,991	$	2,093,529	(4	)%
Trucking revenues, net of fuel surcharge	347,546		368,790		(6	)%	1,356,284		1,411,099		(4	)%
Werner Logistics ⁽¹⁾ revenue	107,171		96,715		11	%	417,172		393,174		6	%
Operating income	34,956		57,261		(39	)%	126,070		200,456		(37	)%
Net income	21,811		36,648		(40	)%	79,129		123,714		(36	)%
Earnings per diluted share	0.30		0.51		(41	)%	1.09		1.71		(36	)%

^{(1) Formerly Value Added Services (VAS)}

OMAHA, NEBRASKA, January 30, 2017 - Werner Enterprises, Inc. (NASDAQ: WERN), one of the nation’s largest transportation and logistics companies, reported revenues and earnings for the fourth quarter and year ended December 31, 2016. Earnings per diluted share were $0.30 for fourth quarter 2016 compared to earnings per diluted share of $0.51 for fourth quarter 2015 and $0.26 for third quarter 2016. Earnings per diluted share for 2016 were $1.09 compared to $1.71 for 2015.

2016 was a very challenging freight and rate year for our truckload and logistics business segments. Our significant investment in the five T’s at Werner (trucks, trailers, terminals, talent and technology) is raising the bar on customer service and we expect will result in improved financial results going forward. We would like to express our sincere appreciation for the ongoing commitment, resolve, creativity and unwavering dedication of our team of 10,000-plus Werner associates as we make further progress on the journey to achieving best in class status in each of our business segments.

Our fourth quarter 2016 freight demand demonstrated seasonal improvement from third quarter 2016. We believe part of this improvement was industry specific and part was company specific. During June 2016, to take advantage of the strengthening Dedicated market, we moved 150 trucks from One-Way Truckload, lessening the need to find satisfactory freight for the trucks in the more challenged one-way truckload market. In September 2016, we moved an additional 100 trucks from One-Way Truckload into Dedicated.

Freight volumes and transactional spot market pricing in the one-way truckload market improved in fourth quarter 2016 from third quarter 2016. We experienced more typical seasonal freight volumes in One-Way Truckload in fourth quarter 2016 which were better than fourth quarter 2015. Freight demand thus far in

The following information was filed by Werner Enterprises Inc (WERN) on Monday, January 30, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Werner Enterprises Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.2: Material Contract

Exhibit 10.4: Material Contract

Exhibit 10.11: Material Contract

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: WERN
CIK: 793074
Form Type: 10-K Annual Report
Accession Number: 0000793074-17-000016
Submitted to the SEC: Thu Feb 23 2017 4:14:22 PM EST
Accepted by the SEC: Thu Feb 23 2017
Period: Saturday, December 31, 2016
Industry: Trucking No Local

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