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Werner reports 2nd-Q revenues off 43%

from in 2014; revenue down 7 % The Trucker News Services 7/22/2016 OMAHA, Neb. — — Werner Enterprises Inc. yesterday reported second-quarter earnings 43 percent below the very same duration last year on total profits of $498,681, a decline of 7 percent from 2015. Werner, among the country’s largest transportation and logistics companies, stated earnings-per-diluted-share were 25 cents for the 2nd quarter 2016, down from 44 cents per-diluted-share for the duration ended June 30, 2015. The second-quarter 2016 profits include a pre-tax gain on sale of property of $3.4 million, company authorities said. Werner blamed the revenues decline on sluggish freight market conditions, the expense of motorist pay increases executed in first-quarter 2016 and independent contractor per-mile increases in fourth-quarter 2015 and a soft used truck market. “Second-quarter 2016 freight need was substantially softer than freight need in the second quarters of the prior 2 years,” a business news release specified. “Need was weakest in April 2016 and showed some modest seasonal enhancement in Might and June. Freight volumes and transactional area market rates in the One-Way Truckload market were disappointing relative to expectations. During June 2016, we shifted approximately 150 trucks from One-Way Truckload into Committed to minimize the effect in the harder One-Way Truckload market. Freight need thus far in July 2016 has been much better than a lot of similar July-to-date period, and this has actually begun to assist enhance transactional area market rates.” In addition, the company said typical profits per tractor each week, net of fuel surcharge, decreased 5.8 percent in the second quarter of 2016 compared to the 2nd quarter of 2015 due to a 3.8 percent reduction in average miles per truck integrated with a 2.1 percent decrease in typical profits per overall mile, web of fuel additional charge. “We are continuing to work with our clients to discuss the expense inc.
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“> See all stories on this topic Musk’master plan ‘broadens Tesla into trucks, buses and automobile sharing Tesla Motors Inc Chief Executive Elon Musk Wednesday unveiled an enthusiastic plan to broaden the company into electric trucks and buses, car sharing and solar power systems. In an article titled “Master Plan, Part Deux,” Musk sketched a vision of an incorporated carbon-free energy business providing a wider variety of automobiles, and products and services beyond electrical cars and batteries. The latest aspects of the strategy consisted of plans to establish vehicle and ride sharing programs along with industrial cars – – companies where other business already compete, and sometimes have sufficient running start on Tesla. The brand-new vehicles range from a commercial truck called the Tesla Semi to a public transportation bus, a “brand-new kind of pickup” and a compact SUV. The automobiles will be unveiled next year along with Tesla’s existing fleet of electrical vehicles. Musk reiterated his argument that Tesla should obtain solar panel installer SolarCity Corp, where he is a major investor, and stated he intends to make Tesla’s Auto-pilot self-driving system 10 times safer than automobiles that human beings drive manually. The strategy did not detail how the brand-new jobs would be funded at a time when Both Tesla and SolarCity are burning through money. Musk summed up the strategy stating Tesla aimed to “produce stunning solar roofs (for homes) with seamlessly integrated battery storage. Broaden the electrical automobile line of product to resolve all major sectors. Establish a self-driving capability that is 10X much safer than manual by means of massive fleet learning. Enable your car to make money for you when you aren’t utilizing it.” Musk stated he imagines Tesla owners allowing others to use their cars through a mobile phone application. He indicated there will be a “Tesla shared fleet,” however did not offer details of how that fleet would be handled. Rival automakers are pursuing a few of these goals too. “In cities where demand goes beyond the supply of customer-owned c.
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