Werner Enterprises

Last updated

Werner Enterprises, Inc.
Company type Public
Founded1956;68 years ago (1956)
FounderClarence L. "CL" Werner
Headquarters,
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]

Related Research Articles

Caliber System Inc., known until 1996 as Roadway Services Inc., was a transportation holding company based in Akron, Ohio. During its history, Caliber owned a number of logistics companies including Roadway Express, Viking Freight and Roadway Package System (RPS) among others. Roadway Express was spun off in 1995 and Caliber was acquired by FedEx in 1998 with subsidiaries becoming FedEx Ground, FedEx Freight, FedEx Custom Critical and FedEx Global Logistics.

Con-way, Inc. was an American multinational freight transportation and logistics company headquartered in Ann Arbor, Michigan, United States. With annual revenues of $5.5 billion, Con-way was the second largest less-than-truckload transport provider in North America, with additional operations for global contract logistics, managed transportation, truckload and freight brokerage. The company's services were sold through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provided less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way, Inc. and its subsidiaries operated from more than 500 locations across North America and in 20 countries.

<span class="mw-page-title-main">Schneider National</span> American multinational trucking and logistics company

Schneider National, Inc. is a provider of truckload, intermodal and logistics services. Schneider's services include regional, long-haul, expedited, dedicated, bulk, intermodal, brokerage, cross-dock logistics, pool point distribution, supply chain management, and port logistics.

<span class="mw-page-title-main">C. H. Robinson</span> Transportation and Logistics Company

C.H. Robinson Worldwide, Inc. is an American transportation company that includes third-party logistics (3PL). The company offers freight transportation, transportation management, brokerage and warehousing. It offers truckload, less than truckload, air freight, intermodal, and ocean transportation.

Estes Express Lines is a privately owned American freight transportation provider based in Richmond, Virginia. Founded in 1931 by W. W. Estes, the company is still owned and operated by the Estes family. Robey W. Estes, Jr., became the company’s president in 1990, then chairman and CEO in 2001. He was succeeded by his son Webb Estes as COO and President in 2023.

<span class="mw-page-title-main">Yellow Corporation</span> American transportation holding company (1929–2023)

Yellow Corporation was an American transportation holding company headquartered in Nashville, Tennessee. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics. From 2006 to February 2021, Yellow was known as YRC Worldwide.

<span class="mw-page-title-main">Celadon Group</span> Former American truckload shipping company

Celadon Group, Inc. was a truckload shipping company located in Indianapolis, Indiana. It was one of the ten largest truckload carriers in North America and at its peak operated 4,000 trucks and owned an additional 11,000 trucks through Quality Equipment, its leasing division.

Roadway Express, Inc. was an American trucking less than truckload (LTL) trucking company. Roadway Express and its holding company, Roadway Corporation, were acquired by logistics holding company Yellow Corporation in 2003, and the parent companies were merged to form Yellow Roadway Corporation, later renamed YRC Worldwide. In 2009, Roadway Express was merged with YRC's other national LTL carrier, Yellow Freight, to form YRC, Inc.

<span class="mw-page-title-main">Knight-Swift</span> American truckload transportation company

Knight-Swift Transportation Holdings Inc. is a publicly traded, American motor carrier holding company based in Phoenix, Arizona. It is the fourth largest trucking company in the United States. The company's primary subsidiaries are truckload carriers Knight Transportation, Swift Transportation, Midnite Express and, since July 2021, less than truckload (LTL) carrier AAA Cooper. In January 2022, the company expanded its LTL footprint with the acquisition of Midwest Motor Express. In July, 2023 Knight-Swift acquired truckload carrier US Xpress.

Covenant Logistics Group, Inc. is an American company focused on truckload shipping. The company is headquartered in Chattanooga, Tennessee and is publicly traded on Nasdaq. The company provides temperature controlled trucking, regional delivery, and longhaul team driver delivery.

<span class="mw-page-title-main">Saia</span> American freight company

Saia is an American less than truckload (LTL) trucking company, that originated in Houma, Louisiana in 1924. With original operation occurring in Louisiana and Texas for the first fifty years, expansion came after 1980 when coverage began reaching into more states within the South. Further expansion happened through mergers with other companies, which allowed Saia to provide service for thirty six states. Saia ranks within the top ten of LTL carriers in the United States, with revenues of over $1.8 billion in 2020.

Pitt Ohio Express, LLC, stylized PITT OHIO, is a privately owned transportation and supply chain management company based in Pittsburgh, Pennsylvania that serves the Mid-Atlantic and Midwestern US. Pitt Ohio ranked 48th on Transport Topics Top 100 For-Hire list and 14th on its Top Less-Than-Truckload (LTL) Carriers list of US and Canadian freight carriers by revenue for 2021.

<span class="mw-page-title-main">Contract Freighters, Inc.</span> American truckload carrier commonly known as CFI

Contract Freighters, Inc. (CFI), a subsidiary of Heartland Express, is an American truckload freight carrier headquartered in Joplin, Missouri with operations in the continental US, Canada, and Mexico. Easily recognizable on the highway by their iconic bright red Kenworth trucks. CFI provides point-to-point, full truckload, dry van service, as well as refrigerated transport, and utilizes single drivers as well as two-person driver teams over long-haul routes—most commonly with each trailer containing only one customer's goods.

TFI International Inc. is a Canadian transport and logistics company based in Saint-Laurent, Quebec, a borough of Montreal. It operates primarily in Canada, the United States, and Mexico through 4 business segments: less than truckload (LTL), package and courier, logistics, and truckload. It has Canada's largest LTL business, largest trucking fleet, and in 2021 was ranked 6th in terms of revenue among both LTL and truckload North American carriers. Its trucking fleet consists of over 14,000 company-owned power units, nearly 10,000 owner-operator tractors, nearly 50,000 trailers and over 200 straight trucks.

<span class="mw-page-title-main">XPO, Inc.</span> American transportation company

XPO, Inc. is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, US and 564 locations globally.

<span class="mw-page-title-main">Old Dominion Freight Line</span> American transportation company

Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping (LTL) company. In addition to its core LTL services, the company offers expedited, logistics and household moving services.

<span class="mw-page-title-main">CRST International</span> American freight company

CRST The Transportation Solution, Inc. is an American freight company based in Cedar Rapids, Iowa.

Daseke, Inc. ( DASS-kee; is the biggest owner and a leading consolidator of flatbed and specialized transportation in North America, comprising 16 operating companies with over 5,200 trucks and over 11,000 flatbed and specialized trailers.

<span class="mw-page-title-main">WTI Transport</span>

WTI Transport, Inc. is a for-hire carrier based in Tuscaloosa, Alabama with terminals in Birmingham, Mobile and Whites Creek, TN. A flatbed company of approximately 370 tractors, WTI hauls freight throughout the Southeast, Midwest, Southwest, and East Coast. WTI’s fleet is a mixture of company drivers and owner-operators. Shipments consist mainly of roofing, building materials, and all types of aluminum, iron and steel products. Currently, WTI is a subsidiary of Daseke

<span class="mw-page-title-main">ArcBest</span> American transportation holding company

ArcBest Corporation is an American holding company for truckload and less-than-truckload (LTL) freight, freight brokerage, household good moving, and transportation management companies. Historically, the company also owned furniture, banking, and other diverse subsidiaries. The company ranked fifteenth among for-hire carriers in the US for 2020 according to industry journal Transport Topics.

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).