Werner Enterprises 3Q profit falls 15 pct

OMAHA, Neb. (AP) — Trucking and logistics company Werner Enterprises Inc. said Monday that its third-quarter profit fell 15 percent to $19 million as sales dropped 27 percent.

The earnings for the three months ended Sept. 30 were equivalent to 26 cents a share, compared with a profit of $22.4 million, or 31 cents a share, a year earlier.

Revenue in the quarter fell to $429.3 million from $584.1 million a year earlier.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting a third-quarter profit of 20 cents a share on revenue of $427.9 million.

The company said freight shipment trends in the fourth quarter will depend on the strength of consumer demand during the holiday season. It said pricing remains extremely competitive.

The company said it does not plan to make further reductions to its fleet, unless there is a significant decline in the freight market or a loss of customer business.