Werner Enterprises Inc (WERN)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	147,873	197,473	239,773	295,904	320,462	340,348	352,349	352,883	343,589	324,703	301,148	256,526	224,694	207,675	197,849	203,782	221,906	232,314	243,777	236,741
Revenue (ttm)	US$ in thousands	3,283,499	3,323,045	3,332,907	3,358,087	3,289,978	3,193,708	3,068,993	2,882,531	2,734,372	2,589,453	2,476,776	2,395,921	2,372,178	2,373,663	2,401,713	2,460,287	2,463,701	2,488,279	2,499,750	2,491,347
Pretax margin		4.50%	5.94%	7.19%	8.81%	9.74%	10.66%	11.48%	12.24%	12.57%	12.54%	12.16%	10.71%	9.47%	8.75%	8.24%	8.28%	9.01%	9.34%	9.75%	9.50%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $147,873K ÷ $3,283,499K
= 4.50%

Werner Enterprises, Inc.'s pretax margin has been showing a declining trend over the past eight quarters. From Q4 2022 to Q4 2023, the pretax margin decreased from 9.87% to 4.50%, reflecting a significant drop in profitability. This pattern suggests that the company's ability to generate earnings before taxes relative to its total revenue has been weakening. It is important for stakeholders to monitor this trend closely and evaluate the factors influencing the declining pretax margin to assess the company's financial health and performance.