Werner Enterprises (NASDAQ: WERN) reported Q4 EPS of $0.67, $0.08 better than the analyst estimate of $0.59. Revenue for the quarter came in at $621.8 million versus the consensus estimate of $628.99 million.

Fourth Quarter 2019 Highlights (all metrics compared to fourth quarter 2018 unless otherwise noted)

• Total revenues of $621.8 million, down $24.6 million, or 4%
• Operating income of $65.7 million, down 12%; non-GAAP adjusted operating income of $63.4 million, down 14%
• Operating margin of 10.6%, down 100 basis points (bps); non-GAAP adjusted operating margin of 10.2%, down 120 bps
• Diluted EPS of $0.70, down 9%; non-GAAP adjusted diluted EPS of $0.67, down 11%

“We are pleased to report good results for the quarter, despite a challenging operating environment compared to the stronger freight and market conditions in the prior-year quarter. In fourth quarter 2019, freight volumes were comparable to fourth quarter 2018 and showed improvement sequentially from third quarter 2019; however, the rate environment in fourth quarter 2019 was meaningfully softer due to a decline in One-Way Truckload project and surge pricing,” said Derek J. Leathers, President and Chief Executive Officer.

“With respect to the full year comparisons, 2019 was a more difficult year than 2018, due to slower growth in the domestic economy and increased truckload capacity, both of which led to lower freight volumes and less attractive pricing. Despite these challenges, we delivered higher earnings per share in 2019 than 2018. Our exceptional execution, effective cost management and our balanced revenue model of Dedicated, One-Way Truckload and Logistics, allowed us to weather the storm. I am extremely proud and grateful for the contributions of our entire Werner team to produce these strong results.”

For earnings history and earnings-related data on Werner Enterprises (WERN) click here.