WERNER ENTERPRISES INC (WERN) Form 10-Q — Aug 7, 2026
Werner Enterprises reported second-quarter 2026 diluted EPS of $0.11, down from $0.72 a year earlier, as net income attributable to Werner fell about 86% to $6.4 million and operating income dropped 74.5% to $16.9 million, pushing the operating ratio to 98.2% from 91.2%. Operating revenues grew 24% to $933.9 million, driven primarily by $169.1 million of revenue from the FirstFleet acquisition completed January 27, 2026, while fuel expense nearly doubled (+98.5%) on higher diesel prices and insurance and claims expense surged; the prior-year quarter also included a $45.7 million insurance liability reversal and a $7.9 million favorable earnout change that did not repeat.
Key figures
- Eps
- 0.11
- Revenue
- 933927000
- Guidance
- Raised FY2026 Dedicated average revenue per tractor per week (net of fuel surcharge) guidance to +3% to +5% (from flat to +3%); revised TTS average tractors in service guidance to +16% to +18% (from +23% to +28%); expects One-Way Truckload revenue per total mile +10% to +13% in Q3 2026 YoY and Logistics margin improvement in H2 2026
- Net Income
- 6,350,000 attributable to Werner in Q2 (vs 44,062,000 prior year); consolidated Q2 net income 5,335,000
- Total Debt
- 793000000
- Revenue Yoy
- 24.0% Q2 YoY; 18.9% 6M YoY
- Total Assets
- 3158727000
- Cash Position
- 57024000
- Deal Value Usd
- 214,755,000 GAAP purchase price for FirstFleet (245,000,000 total per MD&A including maximum earnout and deferred bonus)
- Shares Outstanding
- 59977156
- Lsa Max Funding
- 350.0M at 6/30/26; increased to 375.0M on July 7, 2026
- Operating Ratio
- 98.2% Q2 2026 vs 91.2% Q2 2025
- Six Month Revenue
- 1742537000
- Abarca Settlement
- 18000000
- Q2 Operating Income
- 16921000
- Six Month Diluted EPS
- 0.03
- First Fleet Q2 Revenue
- 169100000
- Q2 Fuel Expense Change
- +98.5%
- Contingent Earnout Max
- 35000000
- Q2 Diluted EPSPrior Year
- 0.72
- Abarca Accrued Liability
- 17700000
- Q2 Insurance Claims Change
- +708.0%
- Q2 Restructuring Impairment
- 4100000
- Quarterly Dividend Per Share
- 0.14
- Available Borrowing Capacity
- 599900000
- Contingent Earnout Liability
- 30387000
- Lsa Weighted Avg Interest Rate
- 4.50%
- Q2 Operating Income Prior Year
- 66321000
- First Fleet Real Estate Purchase
- 37800000
- Finance Leases Assumed First Fleet
- 57200000
- Cumulative One Way Restructuring Costs
- 48319000
- Prior Year Insurance Liability Reversal
- 45700000
Price after filing
Close on the filing date to close N calendar days later (from $37.51). Historical, not a forecast.
AI analysis
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