Werner Enterprises

Q2 FY2026 EarningsQ2 FY26 results presented a mixed profile with a slight top-line beat but significant bottom-line pressure. Revenue reached $933.9M, marginally exceeding the $932.1M consensus, driven by the FirstFleet acquisition. However, GAAP EPS of $0.11 missed the $0.22 consensus significantly due to the absence of prior-year one-time gains and margin compression in Logistics. While Dedicated revenue grew 51.4% YoY, operating margins fell to 1.8% from 8.8% YoY, primarily reflecting the normalization of insurance/legal items compared to the Q2 FY25 favorable settlement.