Report
Matthew Young, CFA
EUR 101.80 For Business Accounts Only

Firming truckload capacity a probable pricing tailwind for Werner and its peers throughout 2018.

Tesla unveiled its highly anticipated heavy-duty electric truck, Semi, on Nov. 16, and production will begin in 2019. CEO Elon Musk provided preliminary details, but information remains limited, including the sticker price. From a high-level view, Tesla claims Semi’s average cost per mile will be $1.26 compared with $1.51 for a traditional diesel truck; we take this to mean a fully laden Class 8 tractor-trailer combination. All in, including items like leasing and maintenance costs, the firm est...
Underlying
Werner Enterprises Inc.

Werner Enterprises is a transportation and logistics company engaged primarily in transporting truckload shipments of general commodities in both interstate and intrastate commerce. The company has two reportable segments: Truckload Transportation Services, which includes the medium-to-long-haul van fleet that transports a variety of consumer nondurable products and other commodities in truckload quantities over irregular routes using dry van trailers, the expedited fleet that provides truckload services, and the regional short-haul fleet that provides truckload van service across the U.S; and Werner Logistics, which is a non-asset-based transportation and logistics provider.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Matthew Young, CFA

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