Werner Enterprises Inc

Werner Enterprises delivered a deeply disappointing third quarter, posting an adjusted loss per share of $0.03 that missed the $0.13 consensus estimate by 122.68%, even as revenue edged ahead of expectations. Total revenues rose 3.5% year over year to $771.50 million, beating the $762.83 million consensus by 1.14%, with the company's Logistics segment, up 12%, providing the primary growth engine while Truckload Transportation revenues slipped 1% to $519.79 million. The quarter's defining event was an $18.00 million class action litigation settlement, plus $3.40 million in related legal fees, which swung GAAP operating results to a loss of $13.02 million from $17.59 million in operating income a year ago and dragged adjusted operating income down 50% to $10.91 million. Looking ahead, management adopted a notably more cautious posture, revising the full-year TTS truck count outlook to a decline of 2% to flat, walking back prior growth expectations, while analysts have broadly trimmed price targets in response to the softer freight environment and uncertain recovery timeline.