Werner Enterprises, Inc. (NASDAQ: WERN) announced today the appointment of Nathan J. Meisgeier as the company's president, effective January 5, 2024. Meisgeier, who has been serving as the company's chief legal officer, will continue in that role as well. Derek J. Leathers, the Chairman and CEO of Werner Enterprises, expressed his confidence in Meisgeier, stating, "Since being promoted to Werner's general counsel in 2016, Nathan has been a transformative leader across the enterprise, currently acting as chief of staff and bringing a remarkable level of integrity and strategic vision to our company."
The stock of Werner Enterprises moved -1.9% in response to this news, and is currently trading at a price of $39.98 per share.
Mr. Leathers also emphasized Meisgeier's role in advancing Werner's strategic vision, particularly in relation to the company's "drivesm" strategy, as well as his standing as a respected legal mind within the transportation industry. In addition, Meisgeier's reputation and influence were highlighted, with Mr. Leathers noting, "Nathan also has earned the respect of transportation CEOs and political leaders across the country."
Expressing his enthusiasm about the new appointment, Mr. Meisgeier stated, "I am honored and humbled to be selected by Derek and appointed by Werner's board of directors to be our company's next president. In my 18 years with this great company, I have learned invaluable lessons from many current and former Werner leaders, including both Derek and CL Werner himself."
Mr. Leathers also expressed his excitement about continuing to lead the organization with Meisgeier as Werner's president, noting that this change reflects the overall depth and strength of Werner's entire leadership team.
Werner Enterprises, Inc., with 2022 revenues of $3.3 billion, delivers superior truckload transportation and logistics services across the United States, Mexico, and Canada. The company is recognized for its modern truck and trailer fleet, talented associates, and innovative Werner Edge technology, providing essential solutions for customers valuing supply chain integrity and requiring safe and exceptional on-time service.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $2,458 | $2,464 | $2,372 | $2,734 | $3,290 | $3,323 |
| Revenue Growth | n/a | 0.24% | -3.71% | 15.27% | 20.32% | 1.01% |
| Operating Margins | 9% | 9% | 10% | 11% | 10% | 7% |
| Net Margins | 7% | 7% | 7% | 9% | 7% | 4% |
| Net Income (MM) | $168 | $167 | $169 | $259 | $241 | $149 |
| Net Interest Expense (MM) | $3 | $7 | $4 | $4 | $12 | $31 |
| Depreciation & Amort. (MM) | $230 | $250 | $263 | $268 | $280 | $298 |
| Earnings Per Share | $2.33 | $2.38 | $2.44 | $3.82 | $3.74 | $2.33 |
| EPS Growth | n/a | 2.15% | 2.52% | 56.56% | -2.09% | -37.7% |
| Diluted Shares (MM) | 72 | 70 | 69 | 68 | 65 | 64 |
| Free Cash Flow (MM) | -$102 | $6 | $33 | -$38 | -$59 | -$185 |
| Capital Expenditures (MM) | $520 | $421 | $413 | $371 | $507 | $657 |
| Current Ratio | 1.47 | 1.51 | 1.67 | 2.35 | 2.46 | 1.96 |
| Total Debt (MM) | $100 | $450 | $350 | $845 | $1,381 | $690 |
| Net Debt / EBITDA | 0.15 | 0.89 | 0.65 | 1.37 | 2.11 | 1.23 |
