WERN
Werner Enterprises, Inc.30.42
-0.26-0.85%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Restructuring lifts Q2; Q1 storm headwinds
Q&A clarified One Way restructuring wraps by end-Q1, delivering noticeable Q2 earnings lift amid a leaner, specialized fleet. Storms parked half the fleet, dragging Q1 alongside logistics margin squeeze—worse than last year's $0.04 EPS hit. First Fleet synergies ramp one-third in 2026 for 300bps margin gain, converging to Werner dedicated levels in 18-24 months. Rejection rates crested 14%, validating supply enforcement. Answers directly tackled cadence concerns, reaffirming prepared outlook. Watch Q2 for proof.
Key Stats
Market Cap
1.82BP/E (TTM)
74.20Basic EPS (TTM)
0.41Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Werner Enterprises posted FY2025 operating revenues of $2.97B, down 1.8% y/y, with TTS down 4.0% to $2.05B on 2.4% fewer average tractors while Werner Logistics grew 3.1% to $857M via shipment gains. Operating income cratered to $11.7M (0.4% margin) from $66.1M, stung by $44.2M Q4 restructuring charges in One-Way Truckload—exiting unprofitable regional freight, impairing $36.1M in assets—and a $18M class-action settlement, yet buoyed by a $45.7M insurance reversal. Q4 spotlighted One-Way fleet cuts to 2,250 trucks (down 13.8% y/y) but Dedicated held steady at 4,850; spot rates firmed seasonally amid contracting capacity. Debt hit $752M with $702M liquidity; bought back $56M shares, held $0.14/share dividend. Driver shortages threaten Q4 momentum.
8-K
NEO comp approved
Werner Enterprises' Compensation Committee approved 2026 base salaries effective February 13 for NEOs, led by CEO Derek Leathers at $980,000, plus RS awards like 66,572 shares for Leathers and target PS awards tied to 2026-2028 Diluted EPS growth. Vesting hinges on performance hitting 0-200% of targets, modified by relative TSR. 2026 AIP bonuses target 80-125% of base on operating income, ex-fuel revenues, individual metrics. Perks include aircraft use.
8-K
Q4 loss on restructuring
Werner reported Q4 2025 revenues of $737.6M, down 2% YoY, swinging to a $35.8M operating loss from $13.4M income, driven by $44.2M restructuring charges in One-Way Truckload, mostly non-cash. Dedicated grew amid fleet cuts; Logistics mixed. FirstFleet acquisition closed January 27 for $282.8M. 2026 guides TTS trucks up 23-28%. Restructuring targets higher margins.
8-K
Werner joins three conferences
Werner Enterprises announced on January 29, 2026, its participation in three Miami investment conferences: Stifel on February 10, Citi on February 17, and Barclays on February 18, each featuring fireside chats and investor meetings. Live webcasts stream on werner.com; archives last 30 days. Schedules may shift. Investors, tune in.
8-K
Werner buys FirstFleet for $283M
Werner Enterprises acquired FirstFleet on January 27, 2026, for $245 million including a maximum $35 million earnout, plus $37.8 million in real estate, funded by cash and revolver capacity. This catapults Werner to fifth-largest U.S. Dedicated carrier, boosting Dedicated revenues ~50% with 2,400 tractors and $615 million annual sales from resilient grocery sectors. Immediate EPS accretion hits; $18 million synergies loom. Earnout ties to future revenues.
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