Form 8-K
8-K — WERNER ENTERPRISES INC
Accession: 0000793074-26-000165
Filed: 2026-10-27
Period: 2026-10-27
CIK: 0000793074
SIC: 4213 (TRUCKING (NO LOCAL))
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — wern-20261027.htm (Primary)
EX-99.1 (wern-2026x930xex991.htm)
GRAPHIC (imagea.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: wern-20261027.htm · Sequence: 1
wern-20261027
0000793074false00007930742026-10-272026-10-27
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 27, 2026
WERNER ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
Nebraska 0-14690 47-0648386
(State or other jurisdiction of
incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
14507 Frontier Road
Omaha , Nebraska 68138
Attn: Legal Department/Corporate Secretary
Email: invrelations@werner.com
(Address of principal executive offices) (Zip Code)
(402) 895-6640
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR40.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 Par Value WERN The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On October 27, 2026, the registrant issued a press release regarding, among other things, its financial results for the third quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
In accordance with General Instruction B.2 to the Form 8-K, the information under this Item 2.02 and the press release furnished as Exhibit 99.1 to this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section 18, nor shall such information and exhibit deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), unless the registrant expressly states that such information and exhibit are to be considered “filed” under the Exchange Act or incorporates such information and exhibit by specific reference in an Exchange Act or Securities Act filing.
The press release furnished as Exhibit 99.1 to this Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on information presently available to the registrant’s management and are current only as of the date made. Actual results could also differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in the registrant’s latest available Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. For those reasons, undue reliance should not be placed on any forward-looking statement. The registrant assumes no duty or obligation to update or revise any forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Any such updates or revisions may be made by filing reports with the U.S. Securities and Exchange Commission, through the issuance of press releases or by other methods of public disclosure.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
99.1
Press release issued by the registrant on October 27, 2026, “Werner Enterprises Reports Third Quarter 2026 Results”.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WERNER ENTERPRISES, INC.
Date: October 27, 2026
By: /s/ Christopher D. Wikoff
Christopher D. Wikoff
Executive Vice President, Chief Financial Officer, and Treasurer
Date: October 27, 2026
By: /s/ Alan G. Colson
Alan G. Colson
Vice President, Controller and
Principal Accounting Officer
EX-99.1
EX-99.1
Filename: wern-2026x930xex991.htm · Sequence: 2
Document
Exhibit 99.1
Werner Enterprises Reports Third Quarter 2026 Results
Third Quarter 2026 Highlights (all metrics compared to third quarter 2025)
•Total revenues of $950.5 million, increased $179.0 million, or 23%
•Operating income of $17.0 million compared to an operating loss of $13.0 million in the prior year; non-GAAP adjusted operating income of $21.0 million, increased $10.1 million, or 92%
•Operating margin of 1.8%, increased 350 basis points from (1.7)%; non-GAAP adjusted operating margin of 2.2%, increased 80 basis points from 1.4%
•Diluted earnings per share of $0.11 compared to diluted loss per share of $0.34 in the prior year; non-GAAP adjusted diluted earnings per share of $0.16 compared to non-GAAP diluted loss per share of $0.03 in the prior year
OMAHA, Neb., October 27, 2026 -- Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today reported results for the third quarter ended September 30, 2026.
“Werner’s third-quarter results demonstrate strong top-line momentum, highlighted by a 28% increase in freight revenue and double-digit Truckload Transportation Services (“TTS”) revenue per truck growth,” said Chairman and CEO Derek Leathers. “While rapidly rising fuel costs and elevated claims temporarily impacted near-term margins, our underlying strategy is working, driving a near-doubling of adjusted operating income. We made the deliberate decision to accelerate investments in driver recruiting and onboarding to capture rising customer demand and support fleet expansion as industry capacity tightens. We remain confident in our trajectory and our ability to capitalize on the early stages of this freight upcycle.”
Total revenues for the quarter were $950.5 million, an increase of $179.0 million compared to the prior year, due to a $194.2 million, or 37%, increase in TTS revenues, partially offset by a decline in Werner Logistics revenues of $16.8 million. A portion of the TTS revenue increase was due to $65.8 million higher fuel surcharge revenues.
Operating income was $17.0 million compared to an operating loss of $13.0 million in the prior year, while operating margin of 1.8% increased 350 basis points from (1.7)%. The increase in operating income is partially due to the non-recurrence of litigation costs of $21.4 million recorded in the prior year related to an agreement to settle a class action lawsuit. On a non-GAAP basis, adjusted operating income of $21.0 million increased $10.1 million, or 92%. Adjusted operating margin of 2.2% increased 80 basis points from 1.4%.
TTS had operating income of $23.2 million compared to an operating loss of $13.8 million in the prior year, and TTS had non-GAAP adjusted operating income of $24.3 million, an increase of $15.4 million, or 172%. Werner Logistics had an operating loss of $0.4 million compared to $3.0 million operating income in the prior year, and Werner Logistics had non-GAAP adjusted operating income of $0.8 million, a decrease of $3.4 million, or 82%. Corporate and Other (including driving schools) had an operating loss of $5.9 million compared to a $2.2 million operating loss in the prior year driven primarily by acquisition
Werner Enterprises, Inc. - Release of October 27, 2026
Page 2
expenses, which were excluded for non-GAAP purposes, and lower non-operating gains, partially offset by year-over-year favorability in our driver schools.
Net interest expense of $9.5 million increased $1.0 million primarily due to an increase in average debt outstanding, partially offset by a decrease in average interest rates. The effective income tax rate during the quarter was 13.2%, compared to 3.8% in third quarter 2025 due to differences in discrete income tax items.
Net gain on our strategic investments was $0.3 million compared to a net loss of $0.3 million in the prior year. Consistent with prior reporting, increases or decreases to the values of these strategic investments are adjusted out for determining non-GAAP adjusted net income (loss) and non-GAAP adjusted earnings (loss) per share.
Net income attributable to Werner was $6.6 million compared to a $20.6 million net loss attributable to Werner in the prior year. On a non-GAAP basis, adjusted net income attributable to Werner was $9.5 million compared to a $2.0 million adjusted net loss attributable to Werner in the prior year. Diluted earnings per share was $0.11 compared to diluted loss per share of $0.34 in the prior year. On a non-GAAP basis, adjusted diluted earnings per share was $0.16 compared to adjusted diluted loss per share of $0.03 in the prior year.
Key Consolidated Financial Metrics
Three Months Ended
September 30, Nine Months Ended
September 30,
(In thousands, except per share amounts) 2026 2025 Y/Y
Change 2026 2025 Y/Y
Change
Total revenues $ 950,508 $ 771,499 23 % $ 2,693,045 $ 2,236,761 20 %
Truckload Transportation Services revenues $ 714,002 $ 519,786 37 % $ 2,010,886 $ 1,539,308 31 %
Werner Logistics revenues $ 215,827 $ 232,585 (7) % $ 623,395 $ 649,320 (4) %
Operating income (loss) $ 16,988 $ (13,021) 230 % $ 37,904 $ 47,468 (20) %
Operating margin 1.8 % (1.7) % 350 bps 1.4 % 2.1 % (70) bps
Net income (loss) attributable to Werner $ 6,595 $ (20,575) 132 % $ 8,683 $ 13,389 (35) %
Diluted earnings (loss) per share $ 0.11 $ (0.34) 132 % $ 0.14 $ 0.22 (34) %
Adjusted operating income (1)
$ 20,983 $ 10,910 92 % $ 60,504 $ 25,662 136 %
Adjusted operating margin (1)
2.2 % 1.4 % 80 bps 2.2 % 1.1 % 110 bps
Adjusted net income (loss) attributable to
Werner (1)
$ 9,488 $ (2,015) 571 % $ 25,133 $ (4,295) 685 %
Adjusted diluted earnings (loss) per share (1)
$ 0.16 $ (0.03) 567 % $ 0.42 $ (0.07) 693 %
(1) See attached Reconciliation of Non-GAAP Financial Measures - Consolidated.
Truckload Transportation Services (TTS) Segment
•Revenues of $714.0 million increased $194.2 million, or 37%; trucking revenues, net of fuel surcharge, increased $127.6 million, or 28% year over year
•Operating income of $23.2 million compared to an operating loss of $13.8 million in the prior year; non-GAAP adjusted operating income of $24.3 million increased $15.4 million, or 172%, due to the addition of FirstFleet, lower insurance and claims expense (excluding FirstFleet), and higher gains from sale of used equipment
•Operating margin of 3.3%, increased 600 basis points from (2.7%); non-GAAP adjusted operating margin, net of fuel surcharge, of 4.1% increased 220 basis points from 1.9%
•Average segment trucks in service totaled 8,668, an increase of 1,165 trucks year over year, or 15.5%, while segment trucks at quarter end increased by 1,295 trucks, or 17.4%. The increase is driven by the FirstFleet acquisition, partially offset by a smaller One-Way Truckload fleet
•Dedicated unit trucks at quarter end totaled 7,090, or 81% of the total TTS segment fleet, compared to 4,965 trucks, or 67%, a year ago
Werner Enterprises, Inc. - Release of October 27, 2026
Page 3
•One-Way Truckload average revenues per truck per week increased 34.3% from total miles per truck production gains of 22.4% following our restructuring efforts earlier this year, plus rate improvement and spot-vs-contract mix changes
•One-Way revenues per total mile, net of fuel surcharge, increased 9.7% year over year
We acquired FirstFleet on January 27, 2026. FirstFleet financial results are reported in our Dedicated operating segment within Truckload Transportation Services. As a result of this acquisition, Dedicated experienced a net increase in average trucks in service, up 2,130 trucks, or 43.8% year over year, and up 19 trucks sequentially. Dedicated quarter-end fleet size was up 42.8% year over year. Dedicated average revenues per truck per week, net of fuel surcharge, increased 5.6%.
Key Truckload Transportation Services Segment Financial Metrics
Three Months Ended
September 30, Nine Months Ended
September 30,
(In thousands) 2026 2025 Y/Y
Change 2026 2025 Y/Y
Change
Trucking revenues, net of fuel surcharge $ 579,604 $ 451,960 28 % $ 1,660,109 $ 1,335,936 24 %
Trucking fuel surcharge revenues 125,231 59,456 111 % 324,268 172,297 88 %
Non-trucking and other revenues 9,167 8,370 10 % 26,509 31,075 (15) %
Total revenues $ 714,002 $ 519,786 37 % $ 2,010,886 $ 1,539,308 31 %
Operating income (loss) $ 23,243 $ (13,832) 268 % $ 64,301 $ 49,341 30 %
Operating margin 3.3 % (2.7) % 600 bps 3.2 % 3.2 % — bps
Operating ratio 96.7 % 102.7 % (600) bps 96.8 % 96.8 % — bps
Adjusted operating income (1)
$ 24,318 $ 8,950 172 % $ 71,431 $ 23,689 202 %
Adjusted operating margin (1)
3.4 % 1.7 % 170 bps 3.6 % 1.5 % 210 bps
Adjusted operating margin, net of fuel
surcharge (1)
4.1 % 1.9 % 220 bps 4.2 % 1.7 % 250 bps
Adjusted operating ratio (1)
96.6 % 98.3 % (170) bps 96.4 % 98.5 % (210) bps
Adjusted operating ratio, net of fuel surcharge (1)
95.9 % 98.1 % (220) bps 95.8 % 98.3 % (250) bps
(1) See attached Reconciliation of Non-GAAP Financial Measures - Truckload Transportation Services (TTS) Segment.
Werner Logistics Segment
•Revenues of $215.8 million decreased $16.8 million, or 7%
•Operating loss was $0.4 million compared to $3.0 million operating income in the prior year; non-GAAP adjusted operating income of $0.8 million decreased $3.4 million, or 82%
•Operating margin of (0.2)% decreased 150 basis points from 1.3%; non-GAAP adjusted operating margin of 0.4% decreased 140 basis points from 1.8%; non-GAAP adjusted operating margin, calculated on operating revenues, less purchased transportation, was 14.4%, up 210 basis points sequentially from 12.3%
•Truckload Logistics Brokerage operating margin improved sequentially by over 600 basis points
Truckload Logistics revenues (70% of Werner Logistics revenues) decreased $23.2 million, or 13%, driven by a decrease in shipments of 40%, partially offset by a 44% increase in revenue per shipment.
Intermodal revenues (17% of Werner Logistics revenues) increased $2.4 million, or 7%, due to a 6% increase in revenue per shipment and a 1% increase in shipments.
Final Mile revenues (13% of Werner Logistics revenues) increased $4.1 million, or 18%, and increased 8% sequentially.
Werner Enterprises, Inc. - Release of October 27, 2026
Page 4
Key Werner Logistics Segment Financial Metrics
Three Months Ended
September 30, Nine Months Ended
September 30,
(In thousands) 2026 2025 Y/Y
Change 2026 2025 Y/Y
Change
Total revenues $ 215,827 $ 232,585 (7) % $ 623,395 $ 649,320 (4) %
Operating expenses:
Purchased transportation expense 184,722 199,616 (7) % 538,996 555,100 (3) %
Other operating expenses 31,491 29,955 5 % 90,660 87,353 4 %
Total operating expenses 216,213 229,571 (6) % 629,656 642,453 (2) %
Operating income (loss) $ (386) $ 3,014 (113) % $ (6,261) $ 6,867 (191) %
Operating margin (0.2) % 1.3 % (150) bps (1.0) % 1.1 % (210) bps
Adjusted operating income (loss) (1)
$ 762 $ 4,163 (82) % $ (2,816) $ 10,713 (126) %
Adjusted operating margin (1)
0.4 % 1.8 % (140) bps (0.5) % 1.6 % (210) bps
(1) See attached Reconciliation of Non-GAAP Financial Measures - Werner Logistics Segment.
Cash Flow and Capital Allocation
Cash flow from operations in third quarter 2026 was $21.5 million compared to $44.1 million in third quarter 2025, a decrease of 51%. In October 2025, we entered into an $18.0 million agreement to settle a class action lawsuit, for which a full accrual was recorded in third quarter 2025. Following court approval in July 2026, all remaining settlement funds were distributed during the third quarter 2026.
Net capital expenditures in third quarter 2026 were $37.3 million compared to $35.2 million in third quarter 2025. We continue to prioritize business reinvestment in safe and modern equipment, including trucks and trailers, intermodal containers, technology, and our terminal network. The average ages of our truck and trailer fleets were 2.8 years and 6.5 years, respectively, as of September 30, 2026. The average age of our trucks decreased 0.2 years sequentially. We expect further reduction as we accelerate tractor purchases in the fourth quarter of 2026.
Gains on sales of property and equipment in third quarter 2026 were $8.0 million, or $0.10 per share, compared to $4.5 million, or $0.06 per share, in third quarter 2025. Gains on sales of property and equipment are reflected as a reduction of other operating expenses in our income statement.
We did not repurchase shares of our common stock in third quarter 2026. As of September 30, 2026, we had 5.0 million shares remaining under our share repurchase authorization.
As of September 30, 2026, we had $39.2 million of cash and cash equivalents and $1.4 billion of stockholders’ equity. Total debt outstanding, including finance lease liabilities of $44.4 million, was $847.4 million at September 30, 2026. After considering letters of credit issued, we had available liquidity consisting of cash and cash equivalents and available borrowing capacity as of September 30, 2026 of $654.3 million. Subsequent to the end of the quarter, on October 5, 2026, we entered into a new $1.1 billion unsecured credit facility with various lenders (“2026 Credit Agreement”) and terminated our existing $1.075 billion unsecured credit facility (“2022 Credit Agreement”). On October 5, 2026, we borrowed $465 million under the 2026 Credit Agreement and used $431.7 million of these proceeds to pay off the outstanding balances, accrued interest, and fees under the 2022 Credit Agreement. Outstanding debt on our credit facilities totaled $840 million as of October 5, 2026, including $465 million of revolving credit loans under the 2026 Credit Agreement and $375 million under our existing Loan and Security Agreement. Considering outstanding borrowings and stand-by letters of credit of $31.9 million, we have a remaining borrowing capacity of $603.1 million under our credit facilities as of October 5, 2026.
Werner Enterprises, Inc. - Release of October 27, 2026
Page 5
2026 Guidance Metrics and Assumptions
The following table summarizes our updated 2026 guidance assumptions:
Prior
2026 Guidance
(as of 7/28/26) Actual
(as of 9/30/26) Current
2026 Guidance
(as of 10/27/26)
TTS average truck count growth
16% to 18%
(2026 vs. 2025) 15.8%
(YTD26 vs. 2025) 16% to 17%
(2026 vs. 2025)
Dedicated RPTPW (1) growth
3% to 5%
(2026 vs. 2025)
4.0%
(YTD26 vs. YTD25)
4% to 5%
(2026 vs. 2025)
One-Way Truckload
RPTM (1) growth
10% to 13%
(3Q26 vs. 3Q25)
9.7%
(3Q26 vs. 3Q25)
10% to 13%
(4Q26 vs. 4Q25)
Net capital expenditures $215M to $250M
(2026)
$29M
(YTD)
$190M to $205M
(2026)
Assumptions
Effective income tax rate (GAAP) 25.5% to 26.5%
(2026)
17.0%
(YTD)
24.5% to 25.5%
(2026)
(1) Net of fuel surcharge revenues
Werner Enterprises, Inc. - Release of October 27, 2026
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Call Information
Werner Enterprises, Inc. will conduct a conference call to discuss third quarter 2026 earnings today beginning at 4:00 p.m. CT. The news release, live webcast of the earnings conference call, and accompanying slide presentation will be available at werner.com in the “Investors” section under “News & Events” and then “Events Calendar.” To participate in the conference call, please dial (844) 701-1165 (domestic) or (412) 504-9718 (international). Please mention to the operator that you are dialing in for the Werner Enterprises call.
A replay of the conference call will be available on October 27, 2026 at approximately 6:00 p.m. CT through November 27, 2026 by dialing (855) 669-9658 (domestic) or (412) 317-0088 (international) and using the access code 5222855. A replay of the webcast will also be available at werner.com in the “Investors” section under “News & Events” and then “Events Calendar.”
About Werner Enterprises
Werner Enterprises, Inc. (“Werner”) (Nasdaq: WERN) delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With Werner® 2025 revenues of nearly $3.0 billion, a modern truck and trailer fleet, more than 14,800 talented associates and our innovative Werner EDGE® technology, we are an essential solutions provider for customers who value the integrity of their supply chain and require safe and exceptional on-time service. In January 2026, Werner acquired FirstEnterprises, Inc. (“FirstFleet”), which generated more than $600 million in unaudited 2025 revenues. Werner provides Dedicated and One-Way Truckload services as well as Logistics services that include truckload brokerage, freight management, intermodal and final mile. Werner embraces inclusion as a core value and manages key risks and opportunities through a balanced sustainability strategy.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on information presently available to the Company’s management and are current only as of the date made. Actual results could also differ materially from those anticipated as a result of a number of factors, including, but not limited to, those discussed in the Company’s latest available Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q.
For those reasons, undue reliance should not be placed on any forward-looking statement. The Company assumes no duty or obligation to update or revise any forward-looking statement, although it may do so from time to time as management believes is warranted or as may be required by applicable securities law. Any such updates or revisions may be made by filing reports with the U.S. Securities and Exchange Commission (“SEC”), through the issuance of press releases or by other methods of public disclosure.
Contact:
Christopher D. Wikoff
Executive Vice President, Chief Financial Officer,
and Treasurer
(402) 894-3700
Source: Werner Enterprises, Inc.
Werner Enterprises, Inc. - Release of October 27, 2026
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Consolidated Financial Information
INCOME STATEMENT
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended
September 30, Nine Months Ended
September 30,
2026 2025 2026 2025
$ % $ % $ % $ %
Operating revenues $ 950,508 100.0 $ 771,499 100.0 $ 2,693,045 100.0 $ 2,236,761 100.0
Operating expenses:
Salaries, wages and benefits 318,587 33.5 268,720 34.8 909,212 33.8 762,396 34.1
Fuel 130,251 13.7 64,059 8.3 332,593 12.3 187,552 8.4
Supplies and maintenance 85,471 9.0 65,496 8.5 230,924 8.6 187,796 8.4
Taxes and licenses 24,233 2.5 23,189 3.0 70,444 2.6 68,633 3.1
Insurance and claims 39,558 4.2 38,060 4.9 122,911 4.6 75,024 3.4
Depreciation and amortization 76,863 8.1 72,184 9.4 231,871 8.6 212,990 9.5
Rent and purchased transportation 254,633 26.8 243,115 31.5 724,664 26.9 677,537 30.3
Communications and utilities 4,804 0.5 3,967 0.5 14,261 0.5 12,054 0.5
Restructuring and impairment — — — — 4,094 0.2 — —
Other (880) (0.1) 5,730 0.8 14,167 0.5 5,311 0.2
Total operating expenses 933,520 98.2 784,520 101.7 2,655,141 98.6 2,189,293 97.9
Operating income (loss) 16,988 1.8 (13,021) (1.7) 37,904 1.4 47,468 2.1
Other expense (income):
Interest expense 11,037 1.2 9,935 1.3 34,361 1.3 28,825 1.3
Interest income (1,489) (0.2) (1,362) (0.2) (4,561) (0.2) (4,341) (0.2)
Loss (gain) on investments in equity securities 30 — (38) — 15 — (3) —
Loss (earnings) from equity method investment (297) — 289 — (1,033) — (553) (0.1)
Other 108 — 60 — 127 — (257) —
Total other expense, net 9,389 1.0 8,884 1.1 28,909 1.1 23,671 1.0
Income (loss) before income taxes 7,599 0.8 (21,905) (2.8) 8,995 0.3 23,797 1.1
Income tax expense (benefit) 1,004 0.1 (822) (0.1) 1,526 — 11,479 0.5
Net income (loss) 6,595 0.7 (21,083) (2.7) 7,469 0.3 12,318 0.6
Net loss attributable to noncontrolling interest — — 508 — 1,214 — 1,071 —
Net income (loss) attributable to Werner $ 6,595 0.7 $ (20,575) (2.7) $ 8,683 0.3 $ 13,389 0.6
Diluted shares outstanding 60,305 59,830 60,232 61,015
Diluted earnings (loss) per share $ 0.11 $ (0.34) $ 0.14 $ 0.22
Werner Enterprises, Inc. - Release of October 27, 2026
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CONDENSED BALANCE SHEET
(In thousands, except share amounts)
September 30,
2026 December 31,
2025
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 39,200 $ 59,922
Accounts receivable, trade, less allowance of $8,375 and $7,646, respectively
517,080 394,933
Other receivables 17,927 20,398
Inventories and supplies 14,622 12,104
Prepaid expenses 62,715 57,184
Assets held for sale 6,843 32,643
Other current assets 37,507 35,665
Total current assets 695,894 612,849
Property and equipment 2,982,713 2,901,984
Less – accumulated depreciation 1,166,563 1,111,480
Property and equipment, net 1,816,150 1,790,504
Finance lease right-of-use assets, net 44,443 —
Goodwill 138,576 129,104
Intangible assets, net 60,721 44,603
Operating lease right-of-use assets, net 143,427 39,703
Other non-current assets
307,378 271,911
Total assets $ 3,206,589 $ 2,888,674
LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 129,053 $ 95,084
Insurance and claims accruals 114,676 99,827
Accrued payroll 77,834 51,442
Accrued expenses 18,908 16,199
Current maturities of finance lease liabilities 24,574 —
Current maturities of operating lease liabilities 51,703 15,451
Other current liabilities 74,089 36,781
Total current liabilities 490,837 314,784
Long-term debt, net of current portion 803,000 752,000
Finance lease liabilities, less current maturities 19,779 —
Operating lease liabilities, less current maturities 95,742 26,470
Other long-term liabilities 20,828 26,080
Insurance and claims accruals, net of current portion
138,316 112,126
Deferred income taxes 278,317 266,209
Total liabilities 1,846,819 1,497,669
Temporary equity - redeemable noncontrolling interest — 28,113
Stockholders’ equity:
Common stock, $0.01 par value, 200,000,000 shares authorized; 80,533,536
shares issued; 59,977,156 and 59,869,405 shares outstanding, respectively
805 805
Paid-in capital 150,377 144,641
Retained earnings 1,888,066 1,904,572
Accumulated other comprehensive loss (9,523) (16,075)
Treasury stock, at cost; 20,556,380 and 20,664,131 shares, respectively
(669,955) (671,051)
Total stockholders’ equity 1,359,770 1,362,892
Total liabilities, temporary equity and stockholders’ equity $ 3,206,589 $ 2,888,674
Werner Enterprises, Inc. - Release of October 27, 2026
Page 9
SUPPLEMENTAL INFORMATION
(Unaudited)
(In thousands)
Three Months Ended
September 30, Nine Months Ended
September 30,
2026 2025 2026 2025
Capital expenditures, net $ 37,274 $ 35,238 $ 28,654 $ 93,300
Cash flow from operations $ 21,463 $ 44,144 $ 188,718 $ 119,539
Return on assets (annualized) 0.8 % (2.9) % 0.4 % 0.6 %
Return on equity (annualized) 1.9 % (5.8) % 1.0 % 1.1 %
Segment Financial and Operating Statistics Information
SEGMENT INFORMATION
(Unaudited)
(In thousands)
Three Months Ended
September 30, Nine Months Ended
September 30,
2026 2025 2026 2025
Revenues
Truckload Transportation Services $ 714,002 $ 519,786 $ 2,010,886 $ 1,539,308
Werner Logistics 215,827 232,585 623,395 649,320
Other (1)
20,074 18,722 57,107 55,384
Corporate 577 569 1,734 1,724
Subtotal 950,480 771,662 2,693,122 2,245,736
Inter-segment eliminations (2)
28 (163) (77) (8,975)
Total $ 950,508 $ 771,499 $ 2,693,045 $ 2,236,761
Operating Income (Loss)
Truckload Transportation Services $ 23,243 $ (13,832) $ 64,301 $ 49,341
Werner Logistics (386) 3,014 (6,261) 6,867
Other (1)
1,442 (817) 3,055 (1,265)
Corporate (7,311) (1,386) (23,191) (7,475)
Total $ 16,988 $ (13,021) $ 37,904 $ 47,468
(1) Other includes our driver training schools, transportation-related activities such as third-party equipment maintenance and equipment leasing, and other business activities.
(2) Inter-segment eliminations represent transactions between reporting segments that are eliminated in consolidation.
Werner Enterprises, Inc. - Release of October 27, 2026
Page 10
OPERATING STATISTICS BY SEGMENT
(Unaudited)
Three Months Ended
September 30, Nine Months Ended
September 30,
2026 2025 % Chg 2026 2025 % Chg
Truckload Transportation Services segment
Average trucks in service 8,668 7,503 15.5 % 8,611 7,469 15.3 %
Average revenues per truck per week (1)
$ 5,144 $ 4,633 11.0 % $ 4,943 $ 4,585 7.8 %
Total trucks (at quarter end)
Company 8,430 7,120 18.4 % 8,430 7,120 18.4 %
Independent contractor 310 325 (4.6) % 310 325 (4.6) %
Total trucks 8,740 7,445 17.4 % 8,740 7,445 17.4 %
Total trailers (at quarter end) 35,085 24,625 42.5 % 35,085 24,625 42.5 %
One-Way Truckload
Trucking revenues, net of fuel surcharge (in 000’s) $ 135,774 $ 159,501 (14.9) % $ 410,123 $ 478,005 (14.2) %
Average trucks in service 1,673 2,638 (36.6) % 1,843 2,635 (30.1) %
Total trucks (at quarter end) 1,650 2,480 (33.5) % 1,650 2,480 (33.5) %
Average percentage of empty miles 15.96 % 15.65 % 2.0 % 15.50 % 15.72 % (1.4) %
Average revenues per truck per week (1)
$ 6,244 $ 4,649 34.3 % $ 5,767 $ 4,650 24.0 %
Average % change YOY in revenues per total mile (1)
9.7 % 0.4 % 7.9 % 1.2 %
Average % change YOY in total miles per truck per week 22.4 % (4.7) % 14.7 % (3.5) %
Average completed trip length in miles (loaded) 674 558 20.8 % 656 572 14.7 %
Dedicated
Trucking revenues, net of fuel surcharge (in 000’s) $ 443,830 $ 292,459 51.8 % $ 1,249,986 $ 857,931 45.7 %
Average trucks in service 6,995 4,865 43.8 % 6,768 4,834 40.0 %
Total trucks (at quarter end) 7,090 4,965 42.8 % 7,090 4,965 42.8 %
Average revenues per truck per week (1)
$ 4,881 $ 4,624 5.6 % $ 4,729 $ 4,549 4.0 %
Werner Logistics segment
Average trucks in service 37 23 60.9 % 30 24 25.0 %
Total trucks (at quarter end) 50 23 117.4 % 50 23 117.4 %
Total trailers (at quarter end) 2,625 4,010 (34.5) % 2,625 4,010 (34.5) %
Total containers (at quarter end) 485 375 29.3 % 412 375 9.9 %
(1) Net of fuel surcharge revenues
Non-GAAP Financial Measures and Reconciliations
To supplement our financial results presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we provide certain non-GAAP financial measures as defined by the SEC Regulation G, including non-GAAP adjusted operating income (loss); non-GAAP adjusted operating margin; non-GAAP adjusted operating margin, net of fuel surcharge; non-GAAP adjusted net income (loss) attributable to Werner; non-GAAP adjusted diluted earnings (loss) per share; non-GAAP adjusted operating revenues, net of fuel surcharge; non-GAAP adjusted operating revenues, less purchased transportation expense; non-GAAP adjusted operating expenses; non-GAAP adjusted operating expenses, net of fuel surcharge; non-GAAP adjusted operating ratio; and non-GAAP adjusted operating ratio, net of fuel surcharge. We believe these non-GAAP financial measures provide a more useful comparison of our performance from period to period because they exclude the effect of items that, in our opinion, do not reflect our core operating performance. Our non-GAAP financial measures are not meant to be considered in isolation or as substitutes for their comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. There are limitations to using non-GAAP financial measures. Although we believe that they improve comparability in analyzing our period to period performance, they could limit comparability to other companies in our industry if those companies define these measures differently. Because of these limitations, our non-GAAP financial measures should not be considered measures of income generated
Werner Enterprises, Inc. - Release of October 27, 2026
Page 11
by our business. Management compensates for these limitations by primarily relying on GAAP results and using non-GAAP financial measures on a supplemental basis.
The following tables present reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure as required by SEC Regulation G. In addition, information regarding each of the excluded items as well as our reasons for excluding them from our non-GAAP results is provided below.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES – CONSOLIDATED
(unaudited)
(In thousands, except per share amounts)
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Income and Non-GAAP Adjusted Operating
Margin (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating income (loss) and operating margin – (GAAP) $ 16,988 1.8 % $ (13,021) (1.7) % $ 37,904 1.4 % $ 47,468 2.1 %
Non-GAAP adjustments:
Insurance and claims (2)
— — % — — % — — % (44,151) (2.0) %
Litigation settlement (3)
— — % 21,413 2.8 % — — % 21,413 1.0 %
Restructuring and impairment (4)
— — % — — % 4,094 0.2 % — — %
Amortization of intangible assets (5)
2,223 0.2 % 2,518 0.3 % 6,481 0.2 % 7,553 0.3 %
Contingent consideration adjustment (6)
— — % — — % — — % (7,921) (0.4) %
Severance expense (7)
— — % — — % — — % 1,300 0.1 %
Acquisition expenses (8)
1,772 0.2 % — — % 12,025 0.4 % — — %
Non-GAAP adjusted operating income and non-GAAP adjusted operating margin $ 20,983 2.2 % $ 10,910 1.4 % $ 60,504 2.2 % $ 25,662 1.1 %
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Net Income (Loss) Attributable to Werner and Non-GAAP
Adjusted Diluted Earnings (Loss) Per
Share (1)
$ Diluted EPS $ Diluted EPS $ Diluted EPS $ Diluted EPS
Net income (loss) attributable to Werner and diluted earnings (loss) per share – (GAAP) $ 6,595 $ 0.11 $ (20,575) $ (0.34) $ 8,683 $ 0.14 $ 13,389 $ 0.22
Non-GAAP adjustments:
Insurance and claims (2)
— — — — — — (44,151) (0.72)
Litigation settlement (3)
— — 21,413 0.36 — — 21,413 0.35
Restructuring and impairment, net of amount attributable to noncontrolling interest (4)
— — — — 4,094 0.07 — —
Amortization of intangible assets, net of amount attributable to noncontrolling
interest (5)
2,223 0.03 2,346 0.04 6,097 0.10 7,037 0.11
Contingent consideration adjustments (6)
— — — — — — (7,921) (0.13)
Severance expense (7)
— — — — — — 1,300 0.02
Acquisition expenses (8)
1,772 0.03 — — 12,025 0.20 — —
Loss (gain) on investments in equity
securities (9)
30 — (38) — 15 — (3) —
Loss (earnings) from equity method investment (10)
(297) — 289 — (1,033) (0.01) (553) (0.01)
Income tax effect of above adjustments (11)
(835) (0.01) (5,450) (0.09) (4,748) (0.08) 5,194 0.09
Non-GAAP adjusted net income (loss) attributable to Werner and non-GAAP adjusted diluted earnings (loss) per share $ 9,488 $ 0.16 $ (2,015) $ (0.03) $ 25,133 $ 0.42 $ (4,295) $ (0.07)
Werner Enterprises, Inc. - Release of October 27, 2026
Page 12
Three Months Ended
September 30, Nine Months Ended
September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Revenues, Net of Fuel
Surcharge (1)
$ $ $ $
Operating revenues – (GAAP) $ 950,508 $ 771,499 $ 2,693,045 $ 2,236,761
Non-GAAP adjustment:
Trucking fuel surcharge (12)
(125,231) (59,456) (324,268) (172,297)
Non-GAAP Adjusted Operating revenues, net of fuel surcharge
$ 825,277 $ 712,043 $ 2,368,777 $ 2,064,464
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES – TRUCKLOAD TRANSPORTATION SERVICES (TTS) SEGMENT
(unaudited)
(In thousands)
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Income and
Non-GAAP Adjusted Operating Margin (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating income (loss) and operating margin – (GAAP) $ 23,243 3.3 % $ (13,832) (2.7) % $ 64,301 3.2 % $ 49,341 3.2 %
Non-GAAP adjustments:
Insurance and claims (2)
— — % — — % — — % (44,151) (2.9) %
Litigation settlement (3)
— — % 21,413 4.1 % — — % 21,413 1.4 %
Restructuring and impairment (4)
— — % — — % 4,094 0.2 % — — %
Amortization of intangible assets (5)
1,075 0.1 % 1,369 0.3 % 3,036 0.2 % 4,107 0.3 %
Contingent consideration adjustment (6)
— — % — — % — — % (7,921) (0.5) %
Severance expense (7)
— — % — — % — — % 900 — %
Non-GAAP adjusted operating income and non-GAAP adjusted operating margin $ 24,318 3.4 % $ 8,950 1.7 % $ 71,431 3.6 % $ 23,689 1.5 %
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Expenses
and Non-GAAP Adjusted Operating Ratio (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating expenses and operating ratio – (GAAP) $ 690,759 96.7 % $ 533,618 102.7 % $ 1,946,585 96.8 % $ 1,489,967 96.8 %
Non-GAAP adjustments:
Insurance and claims (2)
— — % — — % — — % 44,151 2.9 %
Litigation settlement (3)
— — % (21,413) (4.1) % — — % (21,413) (1.4) %
Restructuring and impairment (4)
— — % — — % (4,094) (0.2) % — — %
Amortization of intangible assets (5)
(1,075) (0.1) % (1,369) (0.3) % (3,036) (0.2) % (4,107) (0.3) %
Contingent consideration adjustment (6)
— — % — — % — — % 7,921 0.5 %
Severance expense (7)
— — % — — % — — % (900) — %
Non-GAAP adjusted operating expenses and non-GAAP adjusted operating ratio $ 689,684 96.6 % $ 510,836 98.3 % $ 1,939,455 96.4 % $ 1,515,619 98.5 %
Werner Enterprises, Inc. - Release of October 27, 2026
Page 13
Three Months Ended
September 30, Nine Months Ended
September 30,
Non-GAAP Adjusted Operating Revenues, Net of Fuel Surcharge;
Non-GAAP Adjusted Operating Expenses, Net of Fuel Surcharge;
Non-GAAP Adjusted Operating Margin, Net of Fuel Surcharge;
and Non-GAAP Adjusted Operating Ratio, Net of Fuel Surcharge (1)
2026 2025 2026 2025
$ $ $ $
Operating revenues – (GAAP) $ 714,002 $ 519,786 $ 2,010,886 $ 1,539,308
Less: Trucking fuel surcharge (12)
(125,231) (59,456) (324,268) (172,297)
Operating revenues, net of fuel surcharge – (Non-GAAP) 588,771 460,330 1,686,618 1,367,011
Operating expenses – (GAAP) 690,759 533,618 1,946,585 1,489,967
Non-GAAP adjustments:
Trucking fuel surcharge (12)
(125,231) (59,456) (324,268) (172,297)
Insurance and claims (2)
— — — 44,151
Litigation settlement (3)
— (21,413) — (21,413)
Restructuring and impairment (4)
— — (4,094) —
Amortization of intangible assets (5)
(1,075) (1,369) (3,036) (4,107)
Contingent consideration adjustment (6)
— — — 7,921
Severance expense (7)
— — — (900)
Non-GAAP adjusted operating expenses, net of fuel surcharge 564,453 451,380 1,615,187 1,343,322
Non-GAAP adjusted operating income $ 24,318 $ 8,950 $ 71,431 $ 23,689
Non-GAAP adjusted operating margin, net of fuel surcharge 4.1 % 1.9 % 4.2 % 1.7 %
Non-GAAP adjusted operating ratio, net of fuel surcharge 95.9 % 98.1 % 95.8 % 98.3 %
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES – WERNER LOGISTICS SEGMENT
(unaudited)
(In thousands)
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Revenues,
Less Purchased Transportation Expense (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating revenues – (GAAP) $ 215,827 100.0 % $ 232,585 100.0 % $ 623,395 100.0 % $ 649,320 100.0 %
Non-GAAP adjustment:
Purchased transportation expense (13)
(184,722) (85.6) % (199,616) (85.8) % (538,996) (86.5) % (555,100) (85.5) %
Non-GAAP adjusted operating revenues, less purchased transportation expense $ 31,105 14.4 % $ 32,969 14.2 % $ 84,399 13.5 % $ 94,220 14.5 %
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Revenues,
Less Purchased Transportation Expense (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating revenues – (GAAP) $ 211,732 100.0 % $ 221,177 100.0 % $ 407,568 100.0 % $ 416,735 100.0 %
Non-GAAP adjustment:
Purchased transportation expense (13)
(185,744) (87.7) % (188,326) (85.1) % (354,274) (86.9) % (355,484) (85.3) %
Non-GAAP adjusted operating revenues, less purchased transportation expense $ 25,988 12.3 % $ 32,851 14.9 % $ 53,294 13.1 % $ 61,251 14.7 %
Werner Enterprises, Inc. - Release of October 27, 2026
Page 14
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
Non-GAAP Adjusted Operating Income
(Loss) and Non-GAAP Adjusted Operating
Margin (1)
$ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev. $ % of Op. Rev.
Operating income (loss) and operating margin – (GAAP) $ (386) (0.2) % $ 3,014 1.3 % $ (6,261) (1.0) % $ 6,867 1.1 %
Non-GAAP adjustments:
Amortization of intangible assets (5)
1,148 0.6 % 1,149 0.5 % 3,445 0.5 % 3,446 0.5 %
Severance expense (7)
— — % — — % — — % 400 — %
Non-GAAP adjusted operating income (loss) and non-GAAP adjusted operating margin $ 762 0.4 % $ 4,163 1.8 % $ (2,816) (0.5) % $ 10,713 1.6 %
(1) Non-GAAP adjusted operating income (loss); non-GAAP adjusted operating margin; non-GAAP adjusted operating margin, net of fuel surcharge; non-GAAP adjusted net income (loss) attributable to Werner; non-GAAP adjusted diluted earnings (loss) per share; non-GAAP adjusted operating revenues, net of fuel surcharge; non-GAAP adjusted operating revenues, less purchased transportation expense; non-GAAP adjusted operating expenses; non-GAAP adjusted operating expenses, net of fuel surcharge; non-GAAP adjusted operating ratio; and non-GAAP adjusted operating ratio, net of fuel surcharge should be considered in addition to, rather than as substitutes for, GAAP operating income (loss); GAAP operating margin; GAAP net income (loss) attributable to Werner; GAAP diluted earnings (loss) per share; GAAP operating revenues; GAAP operating expenses; and GAAP operating ratio, which are their most directly comparable GAAP financial measures.
(2) Represents a reversal of a net liability in second quarter 2025 related to the Texas Supreme Court’s ruling in Werner’s favor, reversing and dismissing a previously disclosed adverse jury verdict rendered on May 17, 2018 in a lawsuit arising from a December 2014 accident. The reversal included Werner's uninsured portion (retention) and accrued interest. Additional information about the accident was included in our Current Report on Form 8-K dated May 17, 2018. Management believes excluding the effect of this item provides a more useful comparison of our performance from period to period. This item is included in our Truckload Transportation Services segment.
(3) In October 2025, we reached an agreement with the plaintiffs in the consolidated class action lawsuits entitled Abarca et al. v. Werner in the United States District Court for the District of Nebraska, to settle these cases for a combined $18 million. The settlement was approved by the court. An accrual for this settlement was recorded in third quarter 2025, and is included in salaries, wages and benefits in our income statement. We also incurred legal fees of $3.4 million related to this litigation during third quarter 2025, which is recorded in other operating expenses in our income statement. Management believes excluding the effect of these items provides a more useful comparison of our performance from period to period. These items are included in our Truckload Transportation Services segment.
(4) Restructuring and impairment expense are excluded because management does not believe these costs are indicative of our core operating performance. These costs are included in our Truckload Transportation Services segment.
(5) Amortization expense related to intangible assets acquired in our business acquisitions is excluded because management does not believe the expense is indicative of our core operating performance. This expense is included in our Truckload Transportation Services and Werner Logistics segments.
(6) Contingent consideration, also referred to as earnout, adjustments related to our business acquisitions are excluded because management does not believe these adjustments are indicative of our core operating performance. The adjustments are recorded in other operating expenses in our Income Statement and are included in our Truckload Transportation Services segment.
(7) Severance expense is excluded because management does not believe it is indicative of our core operating performance. This item is included in salaries, wages and benefits in our Income Statement and is included in our Truckload Transportation Services and Werner Logistics segments.
(8) Represents business acquisition and certain integration-related expenses. These expenses are excluded as management believes they are not representative of the costs of managing our on-going business. These expenses are included within other operating expenses in our income statement and in Corporate operating income in our Segment Information table.
(9) Represents non-operating mark-to-market adjustments for gains/losses on our minority equity investments, which we account for under Accounting Standards Codification (“ASC”) 321, Investments – Equity Securities. Management believes excluding the effect of gains/losses on our investments in equity securities provides a more useful comparison of our performance from period to period. We record changes in the value of our investments in equity securities in other expense (income) in our income statement.
(10) Represents earnings/losses from our equity method investment, which we account for under ASC 323, Investments - Equity Method and Joint Ventures. Management believes excluding the effect of earnings/losses from our equity method investment provides a more useful comparison of our performance from period to period. We record earnings/losses from our equity method investment in other expense (income) in our income statement.
(11) The income tax effect of the non-GAAP adjustments is calculated using the incremental income tax rate excluding discrete items, and the income tax effect for 2025 has been updated to reflect the annual incremental income tax rate.
(12) Fluctuating fuel prices and fuel surcharge revenues impact the total company operating ratio and the TTS segment operating ratio when fuel surcharges are reported on a gross basis as revenues versus netting the fuel surcharges against fuel expenses. Management believes netting fuel surcharge revenues, which are generally a more volatile source of revenue, against fuel expenses provides a more consistent basis for comparing the results of operations from period to period.
(13) Management believes excluding purchased transportation expense from Werner Logistics operating revenues provides a useful measurement of our ability to source and sell services provided by third parties.
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Document and Entity Information Document
Oct. 27, 2026
Cover [Abstract]
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Document Period End Date
Oct. 27, 2026
Entity File Number
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Entity Registrant Name
WERNER ENTERPRISES, INC.
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Entity Incorporation, State or Country Code
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Entity Tax Identification Number
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Entity Address, Address Line One
14507 Frontier Road
Entity Address, Address Line Two
Attn: Legal Department/Corporate Secretary
Entity Address, Address Line Three
Email: invrelations@werner.com
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Omaha
Entity Address, State or Province
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Entity Address, Postal Zip Code
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City Area Code
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Local Phone Number
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xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration