Christian Wetherbee

Scott Group

Brian Ossenbeck

Eric Morgan

Ravi Shanker

Daniel Imbro

Jason Seidl

Ken Hoexter

Richa Harnain

Andrew Baxter Cox

Ariel Rosa

Bascome Majors

Jeffrey Kauffman

Joe Enderlin

Tom Wadewitz

- Werner Enterprises is experiencing **positive momentum in its Dedicated Truckload Services and Logistics segments**, with Logistics being the **fastest-growing segment** and achieving **mid-single-digit year-over-year growth in Q2** and continuing.  **[793074_2137250_0]** **[793074_2137250_1]** **[793074_2137250_7]** **[793074_2137250_8]** 
- One-Way Truckload Services revenue per total mile increased **2.7% year-over-year in Q2**, marking the fourth consecutive quarter of increase, though the 2025 bid season yielded relatively low single-digit increases and spot rates remain low.  **[793074_2137250_3]** 
- Increased attrition among carriers and growing enforcement of English Language Proficiency (ELP) regulations are leading to a significant number of drivers going out of service, with an annualized projection of **25,000 drivers out of service**, which is expected to impact market capacity.  **[793074_2137250_4]** 
- The company maintains a **mid-cycle target of low double-digit margins for its Truckload Transportation Services segment**, despite Q2 adjusted operating income being **2.7% or 2.8%** (closer to 4% normalized for startup expenses), with a roadmap including rate improvement, volume normalization, and cost discipline.  **[793074_2137250_8]**

Werner Enterprises Discusses Positive Momentum in Dedicated and Logistics Segments, Addresses Market Capacity and Long-Term Margin Targets

- Werner Enterprises is experiencing **positive momentum** in its Dedicated and Logistics segments, with Logistics being the **fastest-growing segment** and achieving **mid-single-digit year-over-year growth** in Q2.  **[793074_2137517_0]** **[793074_2137517_1]** **[793074_2137517_7]**  The company is also observing an increase in private fleet conversions to its Dedicated business.  **[793074_2137517_5]** 
- One-Way revenue per total mile increased **2.7%** year-over-year in Q2, though the 2025 bid season resulted in relatively **low single-digit increases** and spot rates remain muted.  **[793074_2137517_2]**  Increased enforcement of English Language Proficiency (ELP) tests is leading to a significant number of drivers (annualized **25,000**) going out of service, which Werner views as positive for industry capacity.  **[793074_2137517_3]** 
- Werner maintains a mid-cycle margin target of **low double-digits** for its Truckload Transportation Services segment, despite Q2 adjusted operating income being **2.7% or 2.8%**.  **[793074_2137517_7]**  The company's strategy to achieve this includes cost discipline, technology leverage, and volume normalization in Dedicated.  **[793074_2137517_7]**

Werner Enterprises Discusses Positive Momentum in Dedicated and Logistics Segments

- Werner Enterprises is experiencing **positive momentum** in its Dedicated Truckload Services and Logistics segments, with Logistics being the **fastest-growing segment** and achieving **mid-single-digit year-over-year growth in Q2**, which is continuing.  **[793074_2137497_0]** **[793074_2137497_1]** **[793074_2137497_7]** **[793074_2137497_8]** 
- One-Way Truckload Services revenue per total mile increased **2.7% year-over-year in Q2**.  **[793074_2137497_3]**  The company notes increasing carrier attrition and significant English Language Proficiency (ELP) enforcement, with **2,000 drivers out of service in the last 30 days**, contributing to capacity reduction.  **[793074_2137497_4]** 
- The Truckload Transportation Services (TTS) segment targets **low double-digit margins** (10-12%) mid-cycle, up from **2.7% or 2.8% adjusted OI in Q2** (closer to 4% normalized), aiming to achieve this through rate improvements, volume normalization, and cost discipline via technology.  **[793074_2137497_8]** 
- Werner is investing in technology, including automation in Logistics, and partnering on autonomous vehicle (AV) development, noting that AVs will improve driver quality of life but **more truck drivers will still be needed** in the coming years.  **[793074_2137497_7]** **[793074_2137497_9]**

Werner Enterprises Discusses Business Outlook, Strategic Growth, and Operational Improvements

WERNER ENTERPRISES (WERN)