Omaha, NE-based truckload operator Werner Enterprises said profits reached $24.3 million on revenues of $425.4 million in the third quarter. This is an increase of 18% and 16%, respectively, compared to the same period last year.
Chairman & CEO Clarence Werner said the one reason the truckload sector continues to strengthen is primarily due to ongoing truck capacity constraints.
"An extremely challenging driver recruiting market is causing most large truckload carriers to limit their fleet additions," he said. "But, despite rising costs for fuel and driver pay, we improved our operating margin by negotiating needed rate increases. Our freight volumes and service performance are at a high level as we move into the seasonally strongest period of the year."
He expects tight capacity and strong demand to continue in to the fourth quarter.