Companies /Industrials

Werner Enterprises Inc

NASDAQ: WERN Trucking
$37.88
▲ $0.04 (+0.11%) today
Markets closed · 11:23pm ET

Q2 2026 Earnings

Reported Jul 28, 2026, 4:08pm ET · SEC source
$0.22
Miss −4.43%
EPS · est. $0.23
$933.9M
Beat +0.20%
Revenue · est. $932.1M
−0.6%
Trailing market
WERN vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−3%0+3%+6%Jul 28Jul 29report 4:08pm ETearnings−1.6%−2.3%
−3%0+3%+6%Jul 28Jul 29earnings−1.6%−2.3%
WERN −2.3%S&P 500 −1.6%
−3%0+3%+6%Jul 28Jul 29report 4:08pm ETearnings−2.3%−2.3%
−3%0+3%+6%Jul 28Jul 29earnings−2.3%−2.3%
WERN −2.3%NASDAQ −2.3%
0+4%+8%Jul 27Aug 5report 4:08pm ETearnings+3.9%+2.2%
0+4%+8%Jul 27Aug 5earnings+3.9%+2.2%
WERN +2.2%S&P 500 +3.9%
0+4%+8%Jul 27Aug 5report 4:08pm ETearnings+6.0%+2.2%
0+4%+8%Jul 27Aug 5earnings+6.0%+2.2%
WERN +2.2%NASDAQ +6.0%
−4.33%
Day of report
+0.63%
Next session
+3.19%
One week
+4.83%
30 days

S&P 500 over the same 30 days: +5.47%.

Did WERN Beat Earnings? Q2 2026 Results

Werner Enterprises delivered a mixed second quarter for fiscal 2026, nudging past revenue expectations while falling short on the bottom line as investors weighed the costs of a sweeping fleet transformation. Revenue climbed 24.0% year over year to $933.93 million, edging above the $932.07 million consensus, but adjusted diluted EPS of $0.22 trailed the $0.23 estimate by 4.43%, pressured by acquisition-related expenses and restructuring charges tied to the January 2026 FirstFleet deal. That acquisition is reshaping Werner's profile rapidly, lifting Dedicated contracts to 80% of the Truckload Transportation Services fleet from 65% a year ago, a shift that analysts had flagged as central to the company's ability to capitalize on a tightening freight market. Adjusted operating income rose 67% to $27.58 million, with adjusted operating margin improving 80 basis points to 3.0%. Looking ahead, Werner narrowed its TTS average truck count growth guidance to 16-18% and raised its net capital expenditures outlook to $215 million-$250 million, signaling continued investment as management cited confidence in accelerating earnings power through the remainder of the year.

Key Takeaways
  • FirstFleet acquisition driving margin improvement ahead of schedule
  • One-Way Truckload strategic restructuring delivered 27.7% revenue per truck per week growth
  • One-Way revenues per total mile, net of fuel surcharge, increased 10.4% YoY
  • Dedicated average revenues per truck per week, net of fuel surcharge, increased 5.4%
  • Safety metrics and insurance and claims costs trended favorably for second consecutive quarter
  • Cash flow from operations increased 84% to $84.7 million
  • Fuel surcharge revenues increased $65.4 million
  • Intermodal revenues increased 18% driven by 17% shipment growth
  • Final Mile revenues increased 14%

“Werner's strong second-quarter results reflect the strategic efforts implemented over the last few quarters and our decisive actions to adapt to a capacity tightening market. Our organic Dedicated business is growing, and the FirstFleet acquisition is driving margin improvement ahead of schedule. The strategic restructuring in One-Way Truckload has delivered the strongest revenue per truck growth in a decade. Safety metrics and insurance and claims costs trended favorably for a second consecutive quarter, demonstrating the impact of quality hiring and training combined with cutting edge technologies. Werner is well-positioned to drive accelerated earnings power throughout the year.”

Werner Enterprises CEO, on the earnings call

Forward Guidance & Outlook

Werner updated its full-year 2026 guidance: TTS average truck count growth narrowed to 16-18% (from prior 23-28%); net capital expenditures raised to $215M-$250M (from $185M-$225M) to reduce tractor fleet age; Dedicated revenue per truck per week growth raised to 3-5% (from flat to 3%); One-Way Truckload revenue per total mile growth guided at 10-13% for Q3 2026 vs Q3 2025; effective income tax rate maintained at 25.5-26.5%. The company noted it is well-positioned to drive accelerated earnings power throughout the year in a capacity tightening market.

WERN YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$300.0M$600.0M$900.0M$753.2M$933.9MRevenue$66.3M$16.9MOperating Income$44.1M$5.3MNet Income
$0$300.0M$600.0M$900.0MRevenueOperating IncomeNet Income

WERN Revenue by Segment

Truckload Transportation Services$702.6M+36.0%
Dedicated Trucking$434.3M+51.4%
Werner Logistics$211.7M−4.0%
One-Way Truckload$137.9M−15.9%

Figures from SEC filings and company reports. Not investment advice.