Freight delivery company Werner (NASDAQ: WERN) will be reporting results this Tuesday afternoon. Here’s what investors should know.
Werner missed analysts’ revenue expectations last quarter, reporting revenues of $737.6 million, down 2.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.
Is Werner a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Werner’s revenue to grow 12.9% year on year, a reversal from the 7.4% decrease it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing in majority downward revisions over the last 30 days. Werner has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Werner’s peers in the ground transportation segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Heartland Express’s revenues decreased 19.7% year on year, beating analysts’ expectations by 2.6%, and Ryder reported flat revenue, in line with consensus estimates. Heartland Express traded up 12.5% following the results while Ryder was also up 11.3%.
Read our full analysis of Heartland Express’s results here and Ryder’s results here.
There has been positive sentiment among investors in the ground transportation segment, with share prices up 15% on average over the last month. Werner is up 18.1% during the same time and is heading into earnings with an average analyst price target of $34.86 (compared to the current share price of $33.83).
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