Deutsche Bank Comments On Werner Q2 EPS

According to Deutsche Bank, Werner Enterprises WERN reported Q2 EPS of $0.38/share above both the estimate of $0.35/share and Consensus of $0.34. Deutsche Bank said that the beat was driven by $0.03/share of greater-than-expected gains on sales of used equipment as it had been far too conservative with its estimates given rising used tractor prices in H1. “WERN's solid execution was highlighted as the company improved its OR (net of fuel) roughly 240bps y/y despite a weak April and May (which drove a 1.6% y/y decline in utilization and caused an increase in deadhead miles). BUY.” Werner Enterprises closed yesterday at $24.82.