Werner Enterprises (WERN) Q4 2019 Earnings Call Transcript

Werner Enterprises (WERN) Q4 2019 Earnings Call Transcript

Good afternoon and welcome to the Werner Enterprises fourth-quarter and full-year 2019 earnings conference call.. For 2019, over three quarters of revenues were generated in our primary segment, truckload transportation services, with the remainder coming from Werner logistics.. 2019 was a below-average freight and rate year compared to a stellar freight and rate year in 2018.. We're pleased that in 2019, our exceptional execution, effective cost management and balanced revenue model enabled us to successfully weather the storm and generate strong financial results.. Reflecting our investments in a newer best-in-class fleet, we ended the year with 8,000 total trucks within our truckload transportation services or TTS segment, an increase of 180 trucks year over year and down 55, sequentially.. I'll turn the call over to John to discuss the financial results in more detail.. Beginning on Slide 7, we provide some additional financial performance drivers for fourth quarter.. Revenue per truck per week decreased 1.8% net of fuel due to lower miles per truck and partially offset by slightly higher revenues per total mile.. Our adjusted earnings per share were $0.67 or 11% lower than the record $0.75 a share we earned in fourth quarter a year ago.. logistics revenues