Earnings summaries and quarterly performance for WERNER ENTERPRISES.
Executive leadership at WERNER ENTERPRISES.
Derek Leathers
Detailed
Chief Executive Officer
CEO
CW
Christopher Wikoff
Executive Vice President, Treasurer & Chief Financial Officer
CC
Craig Callahan
Executive Vice President & Chief Commercial Officer
DM
Daragh Mahon
Executive Vice President & Chief Information Officer
ED
Eric Downing
Executive Vice President & Chief Operating Officer
JJ
James Johnson
Executive Vice President & Chief Accounting Officer
JS
Jim Schelble
Executive Vice President & Chief Administrative Officer
MN
Marty Nordlund
Executive Vice President of Strategic Partnerships
NM
Nathan Meisgeier
President & Chief Legal Officer
Board of directors at WERNER ENTERPRISES.
Research analysts who have asked questions during WERNER ENTERPRISES earnings calls.
SG
Scott Group
Wolfe Research
6 questions for WERN
Also covers: AAL, ALGT, ALK +35 more
BO
Brian Ossenbeck
JPMorgan Chase & Co.
5 questions for WERN
Also covers: ARCB, CHRW, CNI +18 more
RS
Ravi Shanker
Morgan Stanley
5 questions for WERN
Also covers: AAL, ALGT, ALK +27 more
Christian Wetherbee
Wells Fargo
4 questions for WERN
Also covers: ARCB, CHRW, CNI +14 more
JS
Jason Seidl
TD Cowen
4 questions for WERN
Also covers: ARCB, CHRW, CSX +17 more
Ken Hoexter
BofA Securities
4 questions for WERN
Also covers: ARCB, CHRW, CNI +21 more
RH
Richa Harnain
Deutsche Bank
4 questions for WERN
Also covers: CHRW, CSX, FDX +7 more
Eric Morgan
Barclays
3 questions for WERN
Also covers: CSX, JBHT, KNX +3 more
TW
Tom Wadewitz
UBS Group
3 questions for WERN
Also covers: ARCB, CHRW, CNI +19 more
Andrew Cox
Stifel
2 questions for WERN
Also covers: CHRW, LSTR, SNDR
DI
Daniel Imbro
Stephens Inc.
2 questions for WERN
Also covers: ARCB, CHRW, CNI +23 more
JA
Jordan Alliger
Goldman Sachs
2 questions for WERN
Also covers: ARCB, CSX, FDX +13 more
Reed Seay
Stephens Inc.
2 questions for WERN
Also covers: ARCB, CHRW, FDX +5 more
AB
Andrew Baxter Cox
Stifel, Nicolaus & Company, Incorporated
1 question for WERN
Also covers: FWRD, LSTR, TFII +1 more
AR
Ariel Rosa
Citigroup
1 question for WERN
Also covers: ARCB, CHRW, CNI +16 more
Bascome Majors
Susquehanna Financial Group
1 question for WERN
Also covers: CHRW, CNI, CSX +20 more
Jeffrey Kauffman
Vertical Research Partners
1 question for WERN
Also covers: ARCB, CHRW, CMI +14 more
Joe Enderlin
Stephens
1 question for WERN
Also covers: SNDR
Recent press releases and 8-K filings for WERN.
Werner Enterprises Reports Q4 2025 Results, Announces One-Way Trucking Restructuring, and Provides 2026 Guidance
WERN
M&A
Guidance Update
Earnings
- Werner Enterprises reported Q4 2025 revenues of $738 million, a 2% decrease year-over-year, with adjusted operating income of $11.3 million and adjusted EPS of $0.05.
- The company completed the acquisition of FirstFleet for $282.8 million, which is immediately accretive and is expected to generate $18 million in targeted synergies. This acquisition will increase the dedicated business to over 70% of Truckload Transportation Services (TTS).
- A strategic restructuring of the one-way trucking business was initiated in Q4 2025, resulting in a $44.2 million charge (mostly non-cash), with expected meaningful earnings improvement in TTS in 2026, becoming noticeable from Q2 2026.
- For 2026, Werner provided guidance including an average truck fleet increase of 23%-28%, Net CapEx between $185 million and $225 million, and net interest expense between $40 million and $45 million.
1 day ago
Werner Enterprises Reports Q4 and Full-Year 2025 Financial Results and Provides 2026 Guidance
WERN
Earnings
Guidance Update
M&A
- Werner Enterprises reported Q4 2025 revenues of $738 million, a 2% year-over-year decrease, and a GAAP EPS of $(0.46), a 342% decrease. For the full year 2025, revenues were $2,974 million (down 2%) and GAAP EPS was $(0.24) (down 143%).
- The company's Q4 2025 performance was driven by a smaller One-Way Truckload (OWT) fleet and softer Logistics volumes, partially offset by a slightly higher average Dedicated fleet, with the OWT Division undergoing restructuring to improve profitability.
- For 2026, Werner anticipates a 23% to 28% increase in TTS Average Truck Count, primarily due to the FirstFleet acquisition, and projects Net Capital Expenditures between $185 million and $225 million.
- As of December 31, 2025, Werner maintained a strong financial position with $702 million in liquidity, $752 million in debt, and $1,363 million in equity, resulting in a net leverage of 2.0x. A new five million share stock repurchase program was approved in August, with all shares remaining.
1 day ago
Werner Enterprises Reports Q4 2025 Results and Provides 2026 Guidance
WERN
Earnings
Guidance Update
M&A
- Werner Enterprises reported Q4 2025 revenues of $738 million, a 2% decrease year-over-year, with adjusted operating income of $11.3 million and adjusted EPS of $0.05.
- The company completed the acquisition of FirstFleet for $282.8 million, which is immediately accretive and expands the dedicated business by 50%, with $18 million in targeted synergies expected.
- A strategic restructuring of the one-way trucking business was initiated in Q4 2025, resulting in a $44.2 million charge, with expected profitability enhancement noticeable in Q2 2026.
- For 2026, Werner anticipates a more positive outlook, with guidance including an average truck fleet increase of 23%-28% and Net CapEx between $185 million and $225 million.
1 day ago
Werner Enterprises Reports Q4 2025 Results and Provides 2026 Guidance
WERN
Earnings
M&A
Guidance Update
- Werner Enterprises reported Q4 2025 revenues were 2% lower year-over-year, though Dedicated revenues grew by low single digits and Logistics, Intermodal, and Final Mile segments saw increased revenues and profits.
- The company acquired FirstFleet for $282.8 million, a move expected to be immediately accretive to EPS and grow Werner's Dedicated business by 50%, adding $615 million in trailing 12-month revenues.
- A strategic restructuring of the One-Way trucking business was initiated in Q4 2025, with meaningful earnings improvement in TTS expected in 2026, becoming noticeable in Q2 2026.
- For 2026, Werner forecasts an average truck fleet increase of 23%-28% (including FirstFleet) and net CapEx between $185 million and $225 million, with a more positive outlook driven by capacity attrition and early demand improvement.
- The FirstFleet acquisition is projected to generate $18 million in annual cost synergies, potentially leading to 300 basis points of margin improvement.
1 day ago
Werner Enterprises Reports Q4 and Annual 2025 Results, Announces Acquisition and Restructuring
WERN
Earnings
M&A
Guidance Update
- Werner Enterprises reported a diluted loss per share of $0.46 for Q4 2025 and $0.24 for the full year 2025, compared to diluted earnings per share of $0.19 and $0.55 in the prior year periods, respectively. The non-GAAP adjusted diluted earnings per share for Q4 2025 was $0.05, a 29% decrease.
- Total revenues for Q4 2025 were $737.6 million, a 2% decrease from Q4 2024, and $2.97 billion for the full year 2025, also a 2% decrease from 2024.
- In Q4 2025, the company began a strategic restructuring of its One-Way Truckload business, which resulted in a $44.2 million charge, with $42.7 million being non-cash.
- Werner Enterprises closed the acquisition of FirstFleet on January 27, 2026, for a total purchase price of $282.8 million.
- For 2026, the company provided guidance including a 23% to 28% increase in TTS average truck count and net capital expenditures of $185 million to $225 million.
1 day ago
Werner Enterprises Reports Fourth Quarter and Annual 2025 Results
WERN
Earnings
Guidance Update
M&A
- Werner Enterprises reported total revenues of $737.6 million for the fourth quarter of 2025, a 2% decrease year-over-year, and a diluted loss per share of $0.46.
- For the full year 2025, total revenues were $2.97 billion, a 2% decrease compared to 2024, resulting in a diluted loss per share of $0.24.
- The company recorded a restructuring and impairment charge of $44.2 million in Q4 2025, with $42.7 million being non-cash, due to a strategic restructuring of its One-Way Truckload business.
- Werner Enterprises completed the acquisition of FirstFleet on January 27, 2026, for a total purchase price of $282.8 million.
- For 2026, the company provided guidance including a projected 23% to 28% increase in TTS average truck count and net capital expenditures of $185 million to $225 million.
1 day ago
Werner Enterprises acquires FirstFleet
WERN
M&A
New Projects/Investments
Guidance Update
- Werner Enterprises announced the acquisition of FirstFleet, a dedicated trucking company, for $245 million for the operating entity and an additional $37.8 million for real estate assets, with the transaction closing on January 27, 2026.
- The acquisition is expected to be immediately double-digit accretive to EPS (pre-synergies) and will establish Werner as the fifth-largest dedicated carrier in the U.S..
- FirstFleet generated over $615 million in annual revenue for the twelve months ended September 30, 2025, contributing to a combined total trailing revenue increase from approximately $3 billion to $3.6 billion.
- The deal is projected to yield approximately $18 million in annual synergies, primarily from procurement and operating efficiencies, largely implemented within 18 months.
- This strategic move significantly increases Werner's dedicated business from 43% to 52% of total revenues, enhancing scale, density, and diversification into resilient end markets.
Jan 28, 2026, 3:30 PM
Werner Acquires FirstFleet
WERN
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Werner Enterprises acquired FirstFleet, Inc. for approximately $245 million in cash, along with $37.8 million for real estate properties, totaling approximately $282.8 million.
- This acquisition establishes Werner as the fifth-largest Dedicated carrier in the U.S. and is projected to grow its Dedicated revenues by approximately 50%.
- FirstFleet contributes significant scale, including approximately 2,400 tractors, 11,000 trailers, and 37 properties, with over $615 million in annual revenues.
- The transaction is expected to be immediately accretive to Werner's earnings per share (EPS), with an anticipated $18 million in annual synergies within the first two years.
Jan 28, 2026, 3:30 PM
Werner Enterprises Acquires FirstFleet
WERN
M&A
New Projects/Investments
- Werner Enterprises completed the acquisition of FirstFleet, a leading dedicated trucking company, on January 27, 2026, for $245 million for the operating entity and an additional $37.8 million for real estate.
- FirstFleet generated over $615 million in annual revenue for the twelve months ended September 30, 2025, and operates approximately 2,400 tractors and 11,000 trailers.
- The acquisition is expected to increase Werner's total trailing revenues by 20% to approximately $3.6 billion for the 12 months ending September 30, 2025, and is immediately double-digit accretive to EPS before synergies.
- Werner anticipates approximately $18 million in annual synergies, primarily from procurement and operating efficiencies, to be largely implemented within 18 months of closing.
- This strategic move establishes Werner as the fifth-largest dedicated carrier in the U.S., increasing the dedicated business's share of total revenues from 43% to approximately 52%.
Jan 28, 2026, 3:30 PM
Werner Enterprises Acquires FirstFleet
WERN
M&A
New Projects/Investments
Guidance Update
- Werner Enterprises announced the acquisition of FirstFleet, a dedicated trucking company, for $245 million for the operating entity and an additional $37.8 million for underlying owned real estate assets, with the transaction closing on January 27, 2026.
- FirstFleet generated more than $615 million in annual revenue for the twelve months ended September 30, 2025.
- The acquisition is expected to be immediately double-digit accretive to EPS (pre-synergies) and is projected to generate approximately $18 million in annual synergies, largely implemented within 18 months of closing.
- This strategic move establishes Werner as the fifth-largest dedicated carrier in the U.S., increasing its dedicated revenue mix from approximately 43% to 52% of total revenues on a combined basis.
Jan 28, 2026, 3:30 PM
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