Truckers Hit, Susquehanna Says Werner Has Flat Tire

On a day were many trucking stocks were hit, Susquehanna continued to pile onto the current negative sentiment, commenting specifically on Werner Enterprises, Inc

. The note centered on the disappointing, preannounced Q2 EPS range of $0.21-$0.25, which came to no surprise for the sell-side firm. Among reasons for the negative guidance, Werner Enterprises cited:

In Susquehanna's opinion, pricing and productivity slowing from a crowded market drove most of the miss in Q2. However, they did not expect the magnitude of the announcement as the ~50% miss was ~44% below what the street expected. Susquehanna maintains their Neutral rating, saying they can't get more constructive on the trucker until better market pricing emerges Shares of Werner Enterprises fell 9.6% on Tuesday, trading at $22.31/share at market close.