Earnings summaries and quarterly performance for WERNER ENTERPRISES.
Executive leadership at WERNER ENTERPRISES.
Derek Leathers
Detailed
Chief Executive Officer
CEO
Christopher Wikoff
Executive Vice President, Treasurer & Chief Financial Officer
Craig Callahan
Executive Vice President & Chief Commercial Officer
Daragh Mahon
Executive Vice President & Chief Information Officer
Eric Downing
Executive Vice President & Chief Operating Officer
James Johnson
Executive Vice President & Chief Accounting Officer
Jim Schelble
Executive Vice President & Chief Administrative Officer
Marty Nordlund
Executive Vice President of Strategic Partnerships
Nathan Meisgeier
President & Chief Legal Officer
Board of directors at WERNER ENTERPRISES.
Research analysts who have asked questions during WERNER ENTERPRISES earnings calls.
Christian Wetherbee
Wells Fargo
4 questions for WERN
Also covers: ARCB, CHRW, CNI +14 more
Scott Group
Wolfe Research
4 questions for WERN
Also covers: AAL, ALGT, ALK +35 more
Brian Ossenbeck
JPMorgan Chase & Co.
3 questions for WERN
Also covers: ARCB, CHRW, CNI +18 more
Eric Morgan
Barclays
3 questions for WERN
Also covers: CSX, JBHT, KNX +3 more
Ravi Shanker
Morgan Stanley
3 questions for WERN
Also covers: AAL, ALGT, ALK +27 more
Daniel Imbro
Stephens Inc.
2 questions for WERN
Also covers: ARCB, CHRW, CNI +23 more
Jason Seidl
TD Cowen
2 questions for WERN
Also covers: ARCB, CHRW, CSX +17 more
Ken Hoexter
BofA Securities
2 questions for WERN
Also covers: ARCB, CHRW, CNI +21 more
Richa Harnain
Deutsche Bank
2 questions for WERN
Also covers: CHRW, CSX, FDX +6 more
Andrew Baxter Cox
Stifel, Nicolaus & Company, Incorporated
1 question for WERN
Also covers: FWRD, LSTR, TFII +1 more
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 +12 more
Joe Enderlin
Stephens
1 question for WERN
Also covers: SNDR
Tom Wadewitz
UBS Group
1 question for WERN
Also covers: ARCB, CHRW, CNI +19 more
Recent press releases and 8-K filings for WERN.
Werner Enterprises Updates Q4 Fleet Guidance and 2026 Outlook
WERN
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Werner Enterprises (WERN) anticipates a more constructive 2026 bid season due to supply-side friction, rising bankruptcies, and the ability to de-risk bids with shippers, securing marginal rate increases on a portion of the business ahead of the full bid.
- The company revised its Q4 Truckload Transportation Services (TTS) fleet guidance, now expecting a 4-6% year-over-year reduction in the total TTS fleet, primarily in the one-way segment, to drive margin expansion in 2026.
- Management projects a sequentially improved TTS Operating Ratio (OR) in Q4 and, with an assumed 3-4% rate increase in 2026, expects roughly 150-200 basis points of TTS margin improvement.
- The multi-year technology investment is nearing large-scale completion by the end of 2026, with the logistics segment already showing positive results, including volumes up approximately 10% and OpEx down 10%.
8 days ago
Werner Enterprises Updates Q4 Truck Count Guidance and Discusses 2026 Outlook
WERN
Guidance Update
New Projects/Investments
Demand Weakening
- Werner Enterprises has revised its year-end 2025 guidance for the total Truckload Transportation Services (TTS) fleet, now anticipating it to be down 4-6% compared to the previous guidance of down 2% to flat. This reduction is primarily in the one-way fleet and is aimed at margin expansion in 2026.
- The company is more constructive on the peak season outlook than previously, citing positive Black Friday early returns and customers racing to restock, with potential upside. For 2026, while not expecting a major demand inflection, supply-side friction and rising bankruptcies are setting a better stage for the bid season.
- Werner expects to achieve 150-200 basis points in TTS margin improvement in 2026 with 3-4% rate increases, prioritizing rate over volume. The company's technology investments have already led to 10% volume growth and 10% OpEx reduction in logistics, with the logistics business projected to crest $1 billion in 2026.
- Regulatory enforcement is increasing across several areas, including English Only Proficiency (EOP), B-1 cabotage, non-domiciled CDLs, Electronic Logging Device (ELD) certification, and entry-level driver training, with up to 44% of CDL schools found not following federal guidelines. These efforts are expected to reduce questionable capacity in the industry.
8 days ago
Werner Enterprises Updates Fleet Strategy and Provides 2026 Outlook at UBS Conference
WERN
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Werner Enterprises has revised its year-end total Truckload Transportation Services (TTS) fleet guidance to be down 4%-6% (previously down 2% to flat), primarily impacting the one-way segment, with the goal of driving margin expansion in 2026. The company is comfortable with a 70% Dedicated fleet mix.
- The CEO highlighted increased industry enforcement across several areas, including B-1 cabotage, non-domiciled CDLs, electronic logging device (ELD) fraud, and entry-level driver training (ELDT) non-compliance, which could remove approximately 200,000 drivers from the over-the-road one-way truckload market, creating a significant impact on supply.
- The company's technology investments are showing results in logistics, with volumes up approximately 10% and operating expenses down 10%. The logistics business is projected to crest $1 billion in 2026.
- Werner anticipates 150-200 basis points of TTS margin improvement in 2026, assuming 3-4% rate increases, with the benefits expected to be back-half loaded.
8 days ago
Werner Enterprises Discusses Freight Market Outlook and Regulatory Impacts
WERN
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- The freight market has hit bottom and stabilized, with the 2025 peak season showing encouraging signs similar to pre-COVID levels, and the company is optimistic about 2026 due to its strong portfolio and the anticipated stimulus from a tax rebate.
- Werner Enterprises supports increased enforcement of English Language Proficiency (ELP) and Non-Domicile CDL regulations, expecting these measures to help rationalize capacity and improve safety in the industry.
- The company stresses the critical need for more aggressive rate increases to combat inflation and ensure the industry's sustainability, noting that many public carriers are operating near break-even.
- Used equipment resale values, particularly for tractors, returned from two-year lows to two-year highs in Q2 2025 and are expected to be supported long-term by factors like tariffs and OEM manufacturing constraints.
Nov 11, 2025, 1:20 PM
Werner Enterprises Discusses Freight Market Outlook, Regulatory Impact, and Rate Environment at Baird Conference
WERN
Demand Weakening
New Projects/Investments
Guidance Update
- The freight market in 2025 is volatile but showing encouraging signs, with the peak season shaping up to be similar to last year with potential upside, and the market appearing to have hit bottom and stabilized. Werner expects a much more positive macro environment in 2026, driven by a strong portfolio and potential consumer stimulus from tax rebates.
- Werner anticipates that increased regulatory enforcement, particularly regarding English Language Proficiency (ELP) and non-domicile CDLs, will lead to capacity rationalization in the industry, and Werner is well-positioned for these changes.
- While Werner has seen modest rate increases in its one-way business for five consecutive quarters, they emphasize the need for more aggressive rate increases (north of low single digits) to combat inflation and ensure the industry's sustainability and reinvestment.
- Demand in the dedicated market is strong, and Werner is focused on expanding this segment. The used equipment market saw resale values for tractors return to two-year highs in Q2 2025, with a positive long-term outlook due to tariffs, OEM manufacturing constraints, and EPA mandates.
Nov 11, 2025, 1:20 PM
Werner Discusses Freight Market Outlook, Regulatory Environment, and Strategic Initiatives
WERN
New Projects/Investments
Revenue Acceleration/Inflection
- The freight market is showing encouraging signs in the latter half of 2025, with peak season expected to be similar to last year with potential upside, and the supply-demand equation appearing to have bottomed out and stabilized.
- Werner anticipates a much more positive macro environment in 2026, driven by its diversified portfolio and the expected stimulus from a significant tax rebate.
- The company supports increased regulatory enforcement of English Language Proficiency (ELP) and non-domicile CDLs, believing these measures will address industry overcapacity and safety concerns, despite a recent stay on non-domicile CDL curtailment.
- Werner is pursuing more aggressive rate increases, aiming for "north of low single digits," to combat inflation and ensure industry sustainability, while also noting strong demand in the dedicated market and tapering startup costs for new verticals in Q4 2025.
- Used equipment resale values for tractors rebounded from two-year lows to two-year highs at the end of Q1 2025 and into Q2 2025, with long-term factors expected to support these values.
Nov 11, 2025, 1:20 PM
Werner Announces Q3 2025 Financial Results
WERN
Earnings
Guidance Update
Share Buyback
- Werner (WERN) reported Q3 2025 revenues of $771 million and an adjusted diluted EPS of $(0.03), with adjusted operating income at $10.9 million.
- The company is progressing on its $45 million cost savings program for 2025, which contributed to a 418% year-over-year increase in Logistics adjusted operating income to $4.2 million.
- Werner's Board approved a new five million share stock repurchase program in August 2025, with all shares remaining available.
- The 2025 guidance was updated, with Net Capital Expenditures now projected between $155 million and $175 million (annual) and TTS Truck Count revised to (2)% to 0% (annual).
Oct 30, 2025, 9:00 PM
Werner Enterprises Reports Q3 2025 Results and Updates Full-Year Guidance
WERN
Earnings
Guidance Update
Demand Weakening
- Werner Enterprises reported Q3 2025 revenues of $771 million, a 3% increase year-over-year, but adjusted EPS was negative $0.03.
- The company faced challenges including margin pressure in logistics and decreased miles per truck in one-way, along with higher-than-anticipated dedicated startup costs. Despite this, it achieved $36 million of its $45 million 2025 cost savings target by Q3, remaining on track for the full goal.
- Full-year fleet guidance was adjusted to down 2% to flat, and net CapEx guidance was tightened to a range of $155 million to $175 million.
- Management anticipates a better bid season for 2026 due to accelerating capacity reduction in the industry from regulatory enforcement related to ELP, non-domiciled CDLs, and B-1 visa cabotage.
Oct 30, 2025, 9:00 PM
Werner Enterprises announces Q3 2025 results
WERN
Earnings
Guidance Update
Legal Proceedings
Demand Weakening
- Werner Enterprises reported total revenues of $771.5 million for Q3 2025, a 3% increase year-over-year, but recorded an operating loss of $13.0 million and a diluted loss per share of $0.34.
- The Q3 2025 results were significantly affected by a $18.0 million accrual for a class action lawsuit settlement and $3.4 million in related legal fees. This contributed to a non-GAAP adjusted diluted loss per share of $0.03.
- The company updated its 2025 guidance, revising the TTS truck count to (2)% to 0% (annual) and net capital expenditures to $155 million to $175 million (annual).
- Cash flow from operations for Q3 2025 was $44.1 million, a 28% decrease from Q3 2024, with $695 million in available liquidity as of September 30, 2025.
Oct 30, 2025, 8:06 PM
Werner Enterprises Discusses Positive Momentum in Dedicated and Logistics Segments, Addresses Market Capacity and Long-Term Margin Targets
WERN
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- 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.
- 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.
- 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.
- 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.
Sep 10, 2025, 11:50 PM
Quarterly earnings call transcripts for WERNER ENTERPRISES.
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