Market Preview: Betting on Ben
The company forecast a profit of 33 to 36 cents a share for the three months ending this month, below the current consensus view for earnings of 44 cents a share. Werner cited "cost increases for truck and trailer depreciation and driver pay" for the outlook, along with higher costs for fuel, health care and equipment maintenance.
"These costs are increasing faster than our revenue per mile," Werner said in a brief statement. Prior to the pullback after the bell, the stock was down just 2% year-to-date.
--Written by Michael Baron in New York.
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