Revenue: As of FY2026 Q2, the actual value is USD 933.93 M, beating the estimate of USD 932.07 M.

EPS: As of FY2026 Q2, the actual value is USD 0.11, missing the estimate of USD 0.2224.

EBIT: As of FY2026 Q2, the actual value is USD 27.03 M.

Consolidated Financial Performance (Second Quarter 2026 vs. Second Quarter 2025)

Total Revenues

Werner Enterprises, Inc. reported total revenues of $933.9 million, an increase of $180.8 million or 24% compared to the second quarter of 2025. This growth was primarily driven by a $184.9 million, or 36%, increase in Truckload Transportation Services (“TTS”) revenues, partially offset by a $9.4 million decline in Werner Logistics revenues. Higher fuel surcharge revenues contributed $65.4 million to the TTS revenue increase.

Operating Income and Margin

Operating income was $16.9 million, a decrease of $49.4 million or -74% year-over-year. The operating margin stood at 1.8%, a decline of -700 basis points from 8.8% in the prior year. This decrease was mainly due to the non-recurrence of $53.6 million in favorable liability reversals recorded in the prior year. Non-GAAP adjusted operating income increased $11.0 million or 67% to $27.6 million, with a non-GAAP adjusted operating margin increasing 80 basis points from 2.2% to 3.0%.

Net Income Attributable to Werner

Net income attributable to Werner Enterprises, Inc. was $6.4 million, representing a decrease of -86%. On a non-GAAP basis, adjusted net income attributable to Werner was $13.5 million, an increase of $8.6 million or 174%.

Operating Expenses (Second Quarter 2026)

Total operating expenses were $917,006 thousand, accounting for 98.2% of operating revenues. Key components included salaries, wages, and benefits at $310,964 thousand, fuel at $119,897 thousand, and rent and purchased transportation at $248,927 thousand. Other expenses included supplies and maintenance at $77,648 thousand, depreciation and amortization at $78,811 thousand, insurance and claims at $41,425 thousand, taxes and licenses at $23,383 thousand, restructuring and impairment at $4,094 thousand, communications and utilities at $4,866 thousand, and other operating expenses at $6,991 thousand.

Other Expenses, Net (Second Quarter 2026)

Net interest expense was $10.1 million, an increase of $2.2 million primarily due to higher average debt outstanding. A net gain on strategic investments of $0.6 million was also reported.

Segment Performance (Second Quarter 2026 vs. Second Quarter 2025)

Truckload Transportation Services (TTS) Segment

Revenues for the TTS segment were $702.6 million, an increase of $184.9 million or 36%. Trucking revenues, net of fuel surcharge, increased $121.3 million or 27% year over year. Operating income decreased $37.0 million to $27.1 million, while non-GAAP adjusted operating income increased $19.5 million or 153% to $32.3 million. The operating margin was 3.9%, a decrease of -850 basis points from 12.4%, and the non-GAAP adjusted operating margin, net of fuel surcharge, increased 270 basis points from 2.8% to 5.5%. The average segment trucks in service totaled 8,712, an increase of 1,223 trucks or 16.3%. Dedicated unit trucks represented 80% of the total TTS segment fleet with 6,960 trucks, up from 65% or 4,890 trucks a year ago. One-Way Truckload average revenues per truck per week increased 27.7%, and One-Way revenues per total mile, net of fuel surcharge, increased 10.4% year over year. Dedicated average revenues per truck per week, net of fuel surcharge, increased 5.4%.

Werner Logistics Segment

Revenues for the Werner Logistics segment decreased $9.4 million or -4% to $211.7 million. The segment reported an operating loss of - $3.9 million, compared to $4.3 million operating income in the prior year. Non-GAAP adjusted operating loss was - $2.7 million, compared to non-GAAP adjusted operating income of $5.9 million in the prior year. The operating margin was -1.8%, a decrease of -380 basis points from 2.0%, and the non-GAAP adjusted operating margin was -1.3%, a decrease of -400 basis points from 2.7%. Truckload Logistics revenues decreased $17.8 million or -10%, driven by a -29% decrease in shipments, while Intermodal revenues increased $5.4 million or 18%, and Final Mile revenues increased $3.0 million or 14%.

Cash Flow and Capital Allocation

Cash flow from operations in the second quarter of 2026 was $84.7 million, an 84% increase compared to $46.0 million in the second quarter of 2025. Net capital proceeds in the second quarter of 2026 were $9.7 million, compared to net capital expenditures of $65.6 million in the second quarter of 2025. Gains on sales of property and equipment were $1.5 million in the second quarter of 2026, compared to $5.9 million in the prior year quarter. As of June 30, 2026, Werner Enterprises, Inc. had $57.0 million in cash and cash equivalents and $1.4 billion in stockholders’ equity. Total debt outstanding, including finance lease liabilities, was $841.3 million. Available liquidity, including cash and cash equivalents and available borrowing capacity, was $657.0 million. The average ages of the truck and trailer fleets were 3.0 years and 6.3 years, respectively, as of June 30, 2026.

2026 Guidance

Werner Enterprises, Inc. updated its 2026 guidance, projecting TTS average truck count growth between 16% and 18% and net capital expenditures between $215 million and $250 million. Dedicated revenues per truck per week growth is forecasted to be 3% to 5%, and One-Way Truckload revenues per total mile growth is expected to be 10% to 13%. The effective income tax rate guidance remains at 25.5% to 26.5% for 2026.