Werner Enterprises

Last updated

Werner Enterprises, Inc.
Company type Public
Founded1956;68 years ago (1956)
FounderClarence L. "CL" Werner
Headquarters
Omaha, Nebraska
,
U.S.
Key people
  • Derek J. Leathers [1]
  • (Chairman & CEO)
  • Clarence L. Werner
  • (Chairman Emeritus)
  • Nathan Meisgeier [2]
  • (President and Chief Legal Officer)
  • Christopher D. Wikoff [3]
  • (EVP, Treasurer & CFO)
  • Eric J. Downing [4]
  • (EVP & COO)
Services Freight management
Freight transport
Revenue US$3.3 billion (2022)
US$323.1 million (2022)
US$245.6 million (2022)
Number of employees
approx. 14,000 (2023)
Website werner.com
Footnotes /references
[5] [6]
Werner's corporate headquarters Omaha, Nebraska Werner's Global Headquarters, Omaha, Nebraska.jpg
Werner's corporate headquarters Omaha, Nebraska

Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion [7] and over 14,000 employees and contractors. [8]

Contents

History

In 1956, Clarence "CL" Werner sold his family vehicle for a Ford Motor Company gasoline-powered truck, and began hauling cargo for other companies. [5] In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. In 1977, Werner Enterprises moved its corporate headquarters to its current location in Omaha, Nebraska. By 1999, Werner had expanded its operations into Mexico, reaching one billion dollars in revenue. Werner was among the six largest truckload and less-than-truckload (LTL) carriers in the United States in 2023. [9]

Acquisitions

In July 2021, Werner acquired regional truckload carriers ECM Transport Group (ECM Transport and Motor Carrier Service, LLC), expanding in the Mid-Atlantic, Ohio and Northeast regions. [10]

In November 2021, Werner acquired final mile carrier NEHDS Logistics, LLC. [11]

In October 2022, Werner acquired truckload carrier Baylor Trucking, Inc., expanding in the east central and south-central U.S. truckload markets. [12]

In November 2022, Werner acquired asset-light logistics provider and truckload carrier, ReedTMS Logistics. [13]

Operations

Werner's fleet consists of approximately 8,300 trucks, 30,000 trailers and employs 14,300 employees and independent contractors. [5] The company conducts business in more than 150 countries, with offices in the U.S., Canada and Mexico. It is the largest truckload transportation provider serving the Mexico cross-border market. [14]

Werner's common stock trades on the NASDAQ Global Select Market under the symbol Nasdaq :  WERN. [15] Werner announced its Werner DRIVE strategy in 2022, which stands for Durable, Results, Innovation, Values and ESG. Building on the "5Ts + S" strategy, Werner DRIVE incorporates sustainability, capital allocation, an outcome-oriented approach to operations, a drive to innovate and a culture that supports and values its team members. [16]

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References

  1. ↑ "Derek J. Leathers Chairman and Chief Executive Officer". May 7, 2021.
  2. ↑ "Werner Appoints Meisgeier as Its Next President". Transport Topics. January 10, 2024. Retrieved January 24, 2024.
  3. ↑ "Werner Enterprises Names Chris Wikoff as Chief Financial Officer". February 23, 2023.
  4. ↑ "Eric J. Downing, Executive Vice President and Chief Operating Officer". January 1, 2023.
  5. 1 2 3 Wolf, Connor D. (June 18, 2020). "Werner CEO Looks Back at Founder's Legacy". Transport Topics. Retrieved July 16, 2020.
  6. ↑ Werner Enterprises (February 27, 2018). "Werner Enterprises, Inc, Form 10-K, Annual Report". secdatabase.com. Retrieved May 13, 2018.
  7. ↑ "2023 Werner Annual Report".
  8. ↑ "Werner Enterprises Reports Fourth Quarter and Annual 2022 Results" (PDF). February 3, 2023.
  9. ↑ "Top 50 trucking companies 2023". www.supplychaindigital.com. Retrieved July 17, 2020.
  10. ↑ "Werner acquires regional carriers in $142M deal with ECM Transport Group". July 1, 2021.
  11. ↑ "Werner grows final-mile platform through $64M acquisition of NEHDS". November 29, 2021.
  12. ↑ "Werner Enterprises acquires Baylor Trucking". October 3, 2022.
  13. ↑ "Werner announces its acquisition of ReedTMS Logistics". November 8, 2022.
  14. ↑ "Werner Enterprises expands Mexico operations with new $8 million cross-dock facility".
  15. ↑ "WERN". www.nasdaq.com. Retrieved July 16, 2020.
  16. ↑ "2022 Werner Annual Report" (PDF).


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