Q1 26 EPS
$0.02
BEAT +132.10%
Est. $-0.06
Q1 26 Revenue
$808.6M
MISS 0.65%
Est. $813.9M
vs S&P Since Q1 26
+26.0%
BEATING MARKET
WERN +30.8% vs S&P +4.8%
Market Reaction
Did WERN Beat Earnings? Q1 2026 Results
Werner Enterprises posted a stronger-than-expected first quarter for fiscal 2026, with non-GAAP adjusted diluted EPS of $0.02 beating the consensus estimate of negative $0.06 by 132.10%, even as revenue of $808.61 million came in just 0.65% below the… Read more Werner Enterprises posted a stronger-than-expected first quarter for fiscal 2026, with non-GAAP adjusted diluted EPS of $0.02 beating the consensus estimate of negative $0.06 by 132.10%, even as revenue of $808.61 million came in just 0.65% below the $813.91 million analyst forecast. The top line still grew 13.6% year over year, with the January 2026 acquisition of FirstFleet serving as the primary catalyst, pushing Dedicated truck count up 46.4% and lifting Truckload Transportation Services revenues 18% to $594.31 million. The company also swung from a GAAP operating loss of $5.83 million a year ago to operating income of $4.00 million, a meaningful sequential shift even as a net GAAP loss of $4.26 million persisted due to acquisition-related costs and higher interest expense. Werner also announced plans to double its intermodal container fleet in Mexico to 800 units by year-end, signaling continued logistics investment. Looking ahead, management raised its Dedicated revenue per truck per week growth outlook to flat-to-3% and expressed confidence that tightening market conditions will drive improved results through 2026.
Key Takeaways
- • FirstFleet acquisition added significantly to Dedicated fleet size and revenues
- • One-Way Truckload restructuring yielded near double-digit revenue per truck increase (9.6%)
- • 95% customer retention rate in Dedicated
- • Lower insurance and claims expense (excluding FirstFleet) improved TTS profitability
- • Higher gains from sale of used equipment
- • Intermodal shipments increased 22% and Final Mile revenues grew 8%
- • Cash flow from operations surged 204% year over year to $89.2 million
- • Contractual and spot rate increases improved One-Way Truckload revenue per total mile by 3.6%
WERN Forward Guidance & Outlook
Werner updated its 2026 guidance: TTS average truck count growth of 23%–28% year over year (unchanged); net capital expenditures of $185M–$225M (unchanged); Dedicated revenue per truck per week (net of fuel surcharge) growth raised to flat-to-3% (from prior (1)%-to-2%); One-Way Truckload revenue per total mile (net of fuel surcharge) growth of 1%–4% for Q2 2026 vs. Q2 2025; effective income tax rate of 25.5%–26.5% for full year 2026. Management noted Werner is well-positioned to drive better financial results as market conditions tighten throughout the year.
WERN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
WERN Revenue by Segment
With YoY comparisons, source: SEC Filings
“The first quarter reflects early results from our strategic positioning and positive momentum in our core business. Dedicated revenue and fleet size grew, bolstered by our FirstFleet acquisition, improving rates, and a strong 95% customer retention rate. Restructuring in our One-Way Truckload business is yielding a near double-digit increase in revenue per truck. Logistics revenues remained flat year-over-year, with growth in Intermodal and Final Mile. And, overall operating margins are improving. Through continued cost discipline, and a relentless focus on safety, service and innovation, Werner remains well-positioned to drive better financial results as market conditions tighten throughout the year.”
— Derek Leathers, Q1 2026 Earnings Press Release
WERN Earnings Trends
WERN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WERN EPS Trend
Earnings per share: estimate vs actual
WERN Revenue Trend
Quarterly revenue: estimate vs actual
WERN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.06 | $0.02 | +132.10% | $808.6M | -0.65% |
| Q4 25 MISS FY | $0.10 | $0.05 | -52.34% | $737.6M | -3.08% |
| FY Full Year | $0.06 | $-0.02 | -133.61% | $2.97B | -0.80% |
| Q3 25 MISS | $0.13 | $-0.03 | -122.68% | $771.5M | +1.14% |
| Q2 25 BEAT | $0.05 | $0.11 | +124.49% | $753.1M | +2.57% |
| Q1 25 MISS | $0.12 | $-0.12 | -203.72% | $712.1M | -3.67% |