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Werner Enterprises, Inc. (WERN) stock is falling today: Here’s Why

Shares of the Werner Enterprises, Inc. (WERN) stock were falling in the intraday trading session today following the announcement of the third quarter of 2021 financial results. The trading volume on the last check was 461,625, higher than the average trading volume.

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Werner Enterprises, Inc is engaged in the transportation and logistics business in the United States, Mexico, and across the globe. The company is operating via two segments: Truckload Transportation Services and Werner Logistics. WERN stock having a market value of $3.05 billion was founded in 1956 and is based in Omaha, Nebraska

Third Quarter 2021 Financial Results:

  • In the third quarter of 2021, WERN stock generated $702.9 million in revenue which represents an increase of $112.7 million as compared to the same quarter of last year. The truckload services revenue and Logistics revenues grew by $69.4 million and $40.6 million respectively.
  • WERN stock reported $71.3 million in operating income in the third quarter of 2021, $9.2 million higher than the same period of the previous year. The operating margin declined by 40 basis points to 10.1% in the reported quarter.
  • Operating income on a non-GAAP adjusted basis reached $73.9 million, $9.6 million higher than the same quarter of last year. The operating margin was 10.5%, 40 basis points lower the same quarter of last year.
  • WERN stock reported a $1.3 million interest expense in the reported quarter. The income tax rate of 24.6% remained unchanged in the reported quarter as compared to the same quarter of 2020.
  • Net income attributable to WERN stock was $63.8 million, 38% higher than the same quarter of the previous year. Adjusted net income attributable to WERN was $53.5 million representing a 12% increase from the previous year’s same quarter.
  • WERN stock reported 63.9 million cash flow from operations in the reported quarter as compared to $59.1 million in Q3,2020.
  • Net capital expenditures for the Werner stock were $59.8 million in the reported quarter as compared to $79.7 million in the same quarter of last year.
  • By the end of the third quarter, Werner stock had $45 million in cash and $1.3 billion of stockholders’ equity.

Developments of the WERN stock:

WERN stock on On July 1, 2021, acquired 80% equity ownership interest in ECM Transport Group. The purchase price for this acquisition was $141.3 million after net working capital changes. On July 27, 2021, Werner stock did issue a report of its inaugural Corporate Social Responsibility which can be seen on the Company’s website at werner.com.

Wrap Up:

Despite announcing strong third-quarter 2021 financial results, WERN stock is still falling in the stock market so far as sentiment is not positive for this stock. From an investment perspective, it is better to analyze the company’s fundamentals and developments before making any decision.

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