Werner Enterprises Reports Second Quarter 2026 Results

About this update from Werner Enterprises, Inc.

[{"type":"text","content":" \n Second Quarter 2026 Highlights (all metrics compared to second quarter 2025)\n\n \n \nTotal revenues of $933.9 million , increased $180.8 million , or 24%\n\n \n \nOperating income of $16.9 million , decreased $49.4 million , or 74%; non-GAAP adjusted operating income of $27.6 million , increased $11.0 million , or 67%\n\n \n \nOperating margin of 1.8%, declined 700 basis points from 8.8%; non-GAAP adjusted operating margin of 3.0%, increased 80 basis points from 2.2%\n\n \n \nDiluted earnings per share of $0.11 , down 85%; non-GAAP adjusted diluted earnings per share of $0.22 , up 178.0%\n\n \n \n OMAHA, Neb. --(BUSINESS WIRE)--\n Werner Enterprises, Inc. (Nasdaq: WERN), a premier transportation and logistics provider, today reported results for the second quarter ended June 30, 2026 .\n\n \n\"Werner’s strong second-quarter results reflect the strategic efforts implemented over the last few quarters and our decisive actions to adapt to a capacity tightening market,\" said Chairman and CEO Derek Leathers . \"Our organic Dedicated business is growing, and the FirstFleet acquisition is driving margin improvement ahead of schedule. The strategic restructuring in One-Way Truckload has delivered the strongest revenue per truck growth in a decade. Safety metrics and insurance and claims costs trended favorably for a second consecutive quarter, demonstrating the impact of quality hiring and training combined with cutting edge technologies. Werner is well-positioned to drive accelerated earnings power throughout the year.\"\n\n \nTotal revenues for the quarter were $933.9 million , an increase of $180.8 million compared to the prior year, due to a $184.9 million , or 36%, increase in Truckload Transportation Services (“TTS”) revenues, partially offset by a decline in Werner Logistics revenues of $9.4 million . A portion of the TTS revenue increase was due to $65.4 million higher fuel surcharge revenues.\n\n \nOperating income of $16.9 million decreased $49.4 million , or 74%, while operating margin of 1.8% declined 700 basis points from 8.8%. The decrease in operating income is primarily due to the non-recurrence of favorable liability reversals of $53.6 million recorded in the prior year related to the dismissal of litigation arising from a December 2014 accident, and the settlement of our Baylor Trucking, Inc. contingent consideration arrangement. On a non-GAAP basis, adjusted operating income of $27.6 million increased $11.0 million , or 67%. Adjusted operating margin of 3.0% increased 80 basis points from 2.2%.\n\n \nTTS had operating income of $27.1 million , a decrease of $37.0 million , and TTS had non-GAAP adjusted operating income of $32.3 million , an increase of $19.5 million , or 153%. Werner Logistics had an operating loss of $3.9 million compared to $4.3 million operating income in the prior year, and Werner Logistics had a non-GAAP adjusted operating loss of $2.7 million , compared to non-GAAP adjusted operating income of $5.9 million in the prior year. Corporate and Other (including driving schools) had an operating loss of $6.3 million compared to a $2.1 million operating loss in the prior year driven by acquisition expenses, which were excluded for non-GAAP, partially offset by year-over-year favorability in our driver schools.\n\n \nNet interest expense of $10.1 million increased $2.2 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 27.3%, compared to 26.2% in second quarter 2025.\n\n \nNet gain on our strategic investments were $0.6 million compared to $0.7 million in the prior year quarter. 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.\n\n \nNet income attributable to Werner of $6.4 million decreased 86%. On a non-GAAP basis, adjusted net income attributable to Werner was $13.5 million , an increase of $8.6 million , or 174%. Diluted earnings per share of $0.11 down 85%. On a non-GAAP basis, adjusted diluted earnings per share of $0.22 increased 178.0%.\n\n \n \n \n Key Consolidated Financial Metrics \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n(In thousands, except per share amounts)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n \nTotal revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n933,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n753,148\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,742,537\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,465,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n Truckload Transportation Services revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n702,572\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n517,647\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,296,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,019,522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nWerner Logistics revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n211,732\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n221,177\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n407,568\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n416,735\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nOperating income\n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,921\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n66,321\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(74\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n20,916\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n60,489\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(65\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nOperating margin\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(700) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(290) bps\n\n \n\n \n\n \n \n \nNet income attributable to Werner\n\n \n\n \n\n \n$\n\n \n\n \n\n \n6,350\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n44,062\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(86\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,088\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n33,964\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(94\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nDiluted earnings per share\n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.72\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(85\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.03\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.55\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(94\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nAdjusted operating income (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,578\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,555\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n67\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n39,521\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n14,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n168\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAdjusted operating margin (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n80 bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n130 bps\n\n \n\n \n\n \n \n \nAdjusted net income (loss) attributable to Werner (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n13,527\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,930\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n174\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n15,103\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(2,280\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n762\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAdjusted diluted earnings (loss) per share (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.22\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.08\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n178\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(0.04\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n777\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n(1) See attached Reconciliation of Non-GAAP Financial Measures - Consolidated.\n\n \n\n \n\n \n \n Truckload Transportation Services (TTS) Segment \n\n \n \nRevenues of $702.6 million increased $184.9 million ; trucking revenues, net of fuel surcharge, increased $121.3 million , or 27% year over year\n\n \n \nOperating income of $27.1 million decreased $37.0 million ; non-GAAP adjusted operating income of $32.3 million increased $19.5 million , or 153%, due to the addition of FirstFleet , lower insurance and claims expense (excluding FirstFleet ) and profitability improvement in One-Way Truckload, partially offset with lower gains from sale of used equipment\n\n \n \nOperating margin of 3.9%, decreased 850 basis points from 12.4%; non-GAAP adjusted operating margin, net of fuel surcharge, of 5.5% increased 270 basis points from 2.8%\n\n \n \nAverage segment trucks in service totaled 8,712, an increase of 1,223 trucks year over year, or 16.3%, while segment trucks at quarter end increased by 1,150 trucks, or 15.2%. The increase is driven by the FirstFleet acquisition, partially offset by a smaller One-Way Truckload fleet\n\n \n \nDedicated unit trucks at quarter end totaled 6,960, or 80% of the total TTS segment fleet, compared to 4,890 trucks, or 65%, a year ago\n\n \n \nOne-Way Truckload average revenues per truck per week increased 27.7% from restructuring efforts over the last two quarters, higher spot rates and contractual rate increases\n\n \n \nOne-Way revenues per total mile, net of fuel surcharge, increased 10.4% year over year\n\n \n \nWe 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 2,121 trucks, or 43.7% year over year, and up 644 trucks sequentially. Dedicated quarter-end fleet size was up 42.3% year over year. Dedicated average revenues per truck per week, net of fuel surcharge, increased 5.4%.\n\n \n \n \n Key Truckload Transportation Services Segment Financial Metrics \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n(In thousands)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n \nTrucking revenues, net of fuel surcharge\n\n \n\n \n\n \n$\n\n \n\n \n\n \n572,224\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n450,903\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,080,505\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n883,976\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTrucking fuel surcharge revenues\n\n \n\n \n\n \n \n\n \n\n \n\n \n120,569\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,201\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n118\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n199,037\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n112,841\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n76\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-trucking and other revenues\n\n \n\n \n\n \n \n\n \n\n \n\n \n9,779\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11,543\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(15\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17,342\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,705\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(24\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nTotal revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n702,572\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n517,647\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,296,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,019,522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nOperating income\n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n64,089\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(58\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n41,056\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n63,173\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(35\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nOperating margin\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(850) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(300) bps\n\n \n\n \n\n \n \n \nOperating ratio\n\n \n\n \n\n \n \n\n \n\n \n\n \n96.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n87.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n850 bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n96.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n93.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n300 bps\n\n \n\n \n\n \n \n \nAdjusted operating income (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n32,286\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n12,775\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n153\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n47,111\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n14,739\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n220\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAdjusted operating margin (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n210 bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n220 bps\n\n \n\n \n\n \n \n \nAdjusted operating margin, net of fuel surcharge (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n270 bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n270 bps\n\n \n\n \n\n \n \n \nAdjusted operating ratio (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n95.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n97.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(210) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n96.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n98.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(220) bps\n\n \n\n \n\n \n \n \nAdjusted operating ratio, net of fuel surcharge (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n94.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n97.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(270) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n95.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n98.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(270) bps\n\n \n\n \n\n \n \n \n(1) See attached Reconciliation of Non-GAAP Financial Measures - Truckload Transportation Services (TTS) Segment.\n\n \n\n \n\n \n \n Werner Logistics Segment \n\n \n \nRevenues of $211.7 million decreased $9.4 million , or 4%\n\n \n \nOperating loss was $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\n\n \n \nOperating margin of (1.8)% decreased 380 basis points from 2.0%; non-GAAP adjusted operating margin of (1.3)% decreased 400 basis points from 2.7%\n\n \n \nTruckload Logistics revenues (72% of Werner Logistics revenues) decreased $17.8 million , or 10%, driven by a decrease in shipments of 29%, partially offset by a 26% increase in revenue per shipment.\n\n \nIntermodal revenues (16% of Werner Logistics revenues) increased $5.4 million , or 18%, due to an increase in shipments of 17% and a 2% increase in revenue per shipment.\n\n \nFinal Mile revenues (12% of Werner Logistics revenues) increased $3.0 million , or 14%, and increased 13% sequentially.\n\n \n \n \n Key Werner Logistics Segment Financial Metrics \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n(In thousands)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nY/Y\n\n \n\n \nChange\n\n \n\n \n\n \n \n \nTotal revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n211,732\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n221,177\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n407,568\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n416,735\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nOperating expenses:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPurchased transportation expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n185,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n188,326\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(1\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n354,274\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n355,484\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nOther operating expenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n29,858\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,523\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n59,169\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,398\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal operating expenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n215,602\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n216,849\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(1\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n413,443\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n412,882\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nOperating income (loss)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n(3,870\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,328\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(189\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(5,875\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,853\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(252\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nOperating margin\n\n \n\n \n\n \n \n\n \n\n \n\n \n(1.8\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(380) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(1.4\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(230) bps\n\n \n\n \n\n \n \n \nAdjusted operating income (loss) (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n(2,721\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n5,876\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(146\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(3,578\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n6,550\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(155\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nAdjusted operating margin (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(1.3\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(400) bps\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.9\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(250) bps\n\n \n\n \n\n \n \n \n(1) See attached Reconciliation of Non-GAAP Financial Measures - Werner Logistics Segment.\n\n \n\n \n\n \n \n Cash Flow and Capital Allocation \n\n \nCash flow from operations in second quarter 2026 was $84.7 million compared to $46.0 million in second quarter 2025, an increase of 84%.\n\n \nNet capital proceeds in second quarter 2026 were $9.7 million compared to net capital expenditures of $65.6 million in second quarter 2025. The lower year-over-year capital expenditure spend is primarily due to one-time factors, including selling more equipment and buying less following One-Way restructuring, modest incremental use of operating leases, and declining technology-related capital spending as we near completion of building the technology-stack for our future. We continue to prioritize business reinvestment in safe and modern equipment, including trucks and trailers, as well as in technology, our terminal network and our talent. The average ages of our truck and trailer fleets were 3.0 years and 6.3 years, respectively, as of June 30, 2026 . We are raising our full-year 2026 net capital expenditures guidance to reduce the average age of our tractor fleet.\n\n \nGains on sales of property and equipment in second quarter 2026 were $1.5 million , or $0.02 per share, compared to $5.9 million , or $0.07 per share, in second quarter 2025. Gains on sales of property and equipment are reflected as a reduction of other operating expenses in our income statement.\n\n \nWe did not repurchase shares of our common stock in second quarter 2026. As of June 30, 2026 , we had 5.0 million shares remaining under our share repurchase authorization.\n\n \nAs of June 30, 2026 , we had $57.0 million of cash and cash equivalents and $1.4 billion of stockholders’ equity. Total debt outstanding, including finance lease liabilities of $48.3 million , was $841.3 million at June 30, 2026 . After considering letters of credit issued, we had available liquidity consisting of cash and cash equivalents and available borrowing capacity as of June 30, 2026 of $657.0 million . Subsequent to the end of the quarter, on July 7, 2026 , we entered into a fourth amendment to our Loan Security Agreement, increasing the maximum funding available for eligible receivables from $350.0 million to $375.0 million , which may increase to $400.0 million upon request and acceptance by the lenders.\n\n \n 2026 Guidance Metrics and Assumptions \n\n \nThe following table summarizes our updated 2026 guidance assumptions:\n\n \n \n \n \n\n \n\n \n\n \n Prior \n\n \n\n \n 2026 Guidance \n\n \n\n \n (as of 4/28/26) \n\n \n\n \n\n \n Actual \n\n \n\n \n (as of 6/30/26) \n\n \n\n \n\n \n Current \n\n \n\n \n 2026 Guidance \n\n \n\n \n (as of 7/28/26) \n\n \n\n \n\n \n \n \nTTS average truck count growth\n\n \n\n \n\n \n23% to 28%\n\n \n\n \n(2026 vs. 2025)\n\n \n\n \n\n \n15.2%\n\n \n\n \n(1H26 vs. 1H25)\n\n \n\n \n\n \n16% to 18%\n\n \n\n \n(2026 vs. 2025)\n\n \n\n \n\n \n \n \nNet capital expenditures\n(proceeds)\n\n \n\n \n\n \n $185M to $225M \n\n \n\n \n(2026)\n\n \n\n \n\n \n $(8)M \n\n \n\n \n(YTD)\n\n \n\n \n\n \n $215M to $250M \n\n \n\n \n(2026)\n\n \n\n \n\n \n \n \n TTS Guidance \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDedicated RPTPW (1) growth\n\n \n\n \n\n \nFlat to 3%\n\n \n\n \n(2026 vs. 2025)\n\n \n\n \n\n \n3.1%\n\n \n\n \n(1H26 vs. 1H25)\n\n \n\n \n\n \n3% to 5%\n\n \n\n \n(2026 vs. 2025)\n\n \n\n \n\n \n \n \nOne-Way Truckload\n\n \n\n \nRPTM (1) growth\n\n \n\n \n\n \n1% to 4%\n\n \n\n \n(2Q26 vs. 2Q25)\n\n \n\n \n\n \n10.4%\n\n \n\n \n(2Q26 vs. 2Q25)\n\n \n\n \n\n \n10% to 13%\n\n \n\n \n(3Q26 vs. 3Q25)\n\n \n\n \n\n \n \n \n Assumptions \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nEffective income tax rate\n\n \n\n \n\n \n25.5% to 26.5%\n\n \n\n \n(2026)\n\n \n\n \n\n \n37.4%\n\n \n\n \n(YTD)\n\n \n\n \n\n \n25.5% to 26.5%\n\n \n\n \n(2026)\n\n \n\n \n\n \n \n \n (1) Net of fuel surcharge revenues \n\n \n\n \n\n \n \n \n \n Call Information \n\n \n Werner Enterprises, Inc. will conduct a conference call to discuss second 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.\n\n \nA replay of the conference call will be available on July 28, 2026 at approximately 6:00 p.m. CT through August 28, 2026 by dialing (855) 669-9658 (domestic) or (412) 317-0088 (international) and using the access code 9111315. A replay of the webcast will also be available at werner.com in the “Investors” section under “News & Events” and then “Events Calendar.” \n\n \n About Werner Enterprises \n\n \nWerner Enterprises, Inc. (Nasdaq: WERN) delivers superior truckload transportation and logistics services to customers across the United States, Mexico and Canada. With 2025 revenues of nearly $3.0 billion, a modern truck and trailer fleet, more than 14,500 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. 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.\n\n \nThis 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.\n\n \nFor 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.\n\n \n Consolidated Financial Information \n\n \n \n \nINCOME STATEMENT\n\n \n\n \n\n \n \n \n(Unaudited)\n\n \n\n \n\n \n \n \n(In thousands, except per share amounts)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nOperating revenues\n\n \n\n \n\n \n$\n\n \n\n \n\n \n933,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n100.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n753,148\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n100.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,742,537\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n100.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,465,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n100.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating expenses:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSalaries, wages and benefits\n\n \n\n \n\n \n \n\n \n\n \n\n \n310,964\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n250,451\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n590,625\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.9\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n493,676\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.7\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFuel\n\n \n\n \n\n \n \n\n \n\n \n\n \n119,897\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,401\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n202,342\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11.6\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n123,493\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSupplies and maintenance\n\n \n\n \n\n \n \n\n \n\n \n\n \n77,648\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n62,260\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n145,453\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n122,300\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTaxes and licenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n23,383\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.5\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,100\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n46,211\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.7\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n45,444\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims\n\n \n\n \n\n \n \n\n \n\n \n\n \n41,425\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(6,813\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.9\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n83,353\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36,964\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.5\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDepreciation and amortization\n\n \n\n \n\n \n \n\n \n\n \n\n \n78,811\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n70,757\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9.4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n155,008\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.9\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n140,806\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9.6\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nRent and purchased transportation\n\n \n\n \n\n \n \n\n \n\n \n\n \n248,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26.7\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n228,280\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n30.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n470,031\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n434,422\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29.7\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCommunications and utilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,866\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,730\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.5\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,457\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.5\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,087\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nRestructuring and impairment\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther\n\n \n\n \n\n \n \n\n \n\n \n\n \n6,991\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(5,339\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.7\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,047\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.9\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(419\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal operating expenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n917,006\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n98.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n686,827\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n91.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,721,621\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n98.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,404,773\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n95.9\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating income\n\n \n\n \n\n \n \n\n \n\n \n\n \n16,921\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n66,321\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n20,916\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,489\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther expense (income):\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInterest expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n11,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,353\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,324\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n18,890\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInterest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n(1,569\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.2\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(1,487\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.2\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(3,072\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.2\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2,979\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.2\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nLoss (gain) on investments in equity securities\n\n \n\n \n\n \n \n\n \n\n \n\n \n11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(15\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nEarnings from equity method investment\n\n \n\n \n\n \n \n\n \n\n \n\n \n(650\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.1\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(719\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.1\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(736\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(842\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.1\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nOther\n\n \n\n \n\n \n \n\n \n\n \n\n \n117\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n51\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(317\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal other expense, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n9,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,231\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19,520\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,787\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIncome before income taxes\n\n \n\n \n\n \n \n\n \n\n \n\n \n7,338\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n59,090\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,396\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n45,702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIncome tax expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n2,003\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,468\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,301\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income\n\n \n\n \n\n \n \n\n \n\n \n\n \n5,335\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n43,622\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5.8\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n874\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33,401\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet loss attributable to noncontrolling interest\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,015\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n440\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,214\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n563\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income attributable to Werner\n\n \n\n \n\n \n$\n\n \n\n \n\n \n6,350\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.7\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n44,062\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5.9\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,088\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n33,964\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.3\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDiluted shares outstanding\n\n \n\n \n\n \n \n\n \n\n \n\n \n60,240\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,001\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,196\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,532\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDiluted earnings per share\n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.72\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.03\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.55\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \nCONDENSED BALANCE SHEET\n\n \n\n \n\n \n \n \n(In thousands, except share amounts)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n June 30 ,\n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n December 31 ,\n2025\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n(Unaudited)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n ASSETS \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCurrent assets:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCash and cash equivalents\n\n \n\n \n\n \n$\n\n \n\n \n\n \n57,024\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n59,922\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccounts receivable, trade, less allowance of $8,818 and $7,646 , respectively\n\n \n\n \n\n \n \n\n \n\n \n\n \n490,902\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n394,933\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther receivables\n\n \n\n \n\n \n \n\n \n\n \n\n \n17,630\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n20,398\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInventories and supplies\n\n \n\n \n\n \n \n\n \n\n \n\n \n14,175\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,104\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPrepaid expenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n43,452\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,184\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAssets held for sale\n\n \n\n \n\n \n \n\n \n\n \n\n \n11,983\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n32,643\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther current assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n40,144\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35,665\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal current assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n675,310\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n612,849\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nProperty and equipment\n\n \n\n \n\n \n \n\n \n\n \n\n \n2,996,322\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,901,984\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLess – accumulated depreciation\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,163,904\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,111,480\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nProperty and equipment, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,832,418\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,790,504\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFinance lease right-of-use assets, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n48,068\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Goodwill \n\n \n\n \n\n \n \n\n \n\n \n\n \n138,576\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n129,104\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIntangible assets, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n62,945\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44,603\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating lease right-of-use assets, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n98,938\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n39,703\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther non-current assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n299,454\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n271,911\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal assets\n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,155,709\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,888,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS’ EQUITY \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCurrent liabilities:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccounts payable\n\n \n\n \n\n \n$\n\n \n\n \n\n \n119,087\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n95,084\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims accruals\n\n \n\n \n\n \n \n\n \n\n \n\n \n119,367\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n99,827\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccrued payroll\n\n \n\n \n\n \n \n\n \n\n \n\n \n82,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n51,442\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccrued expenses\n\n \n\n \n\n \n \n\n \n\n \n\n \n8,045\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,199\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCurrent maturities of finance lease liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n25,120\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCurrent maturities of operating lease liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n46,900\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,451\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther current liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n65,461\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36,781\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal current liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n466,921\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n314,784\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLong-term debt, net of current portion\n\n \n\n \n\n \n \n\n \n\n \n\n \n793,000\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n752,000\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFinance lease liabilities, less current maturities\n\n \n\n \n\n \n \n\n \n\n \n\n \n23,167\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating lease liabilities, less current maturities\n\n \n\n \n\n \n \n\n \n\n \n\n \n53,720\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,470\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther long-term liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n24,316\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,080\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims accruals, net of current portion\n\n \n\n \n\n \n \n\n \n\n \n\n \n136,816\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n112,126\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDeferred income taxes\n\n \n\n \n\n \n \n\n \n\n \n\n \n274,608\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n266,209\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,772,548\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,497,669\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTemporary equity - redeemable noncontrolling interest\n\n \n\n \n\n \n \n\n \n\n \n\n \n26,899\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,113\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nStockholders’ equity:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCommon stock, $0.01 par value, 200,000,000 shares authorized; 80,533,536\n\n \n\n \nshares issued; 59,977,156 and 59,869,405 shares outstanding, respectively\n\n \n\n \n\n \n \n\n \n\n \n\n \n805\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n805\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPaid-in capital\n\n \n\n \n\n \n \n\n \n\n \n\n \n147,482\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n144,641\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nRetained earnings\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,889,869\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,904,572\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccumulated other comprehensive loss\n\n \n\n \n\n \n \n\n \n\n \n\n \n(11,939\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(16,075\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \n Treasury stock, at cost; 20,556,380 and 20,664,131 shares, respectively\n\n \n\n \n\n \n \n\n \n\n \n\n \n(669,955\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(671,051\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nTotal stockholders’ equity\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,356,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,362,892\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities, temporary equity and stockholders’ equity\n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,155,709\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,888,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \nSUPPLEMENTAL INFORMATION\n\n \n\n \n\n \n \n \n(Unaudited)\n\n \n\n \n\n \n \n \n(In thousands)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCapital expenditures (proceeds), net\n\n \n\n \n\n \n$\n\n \n\n \n\n \n(9,726\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n65,628\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(7,742\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n58,062\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCash flow from operations\n\n \n\n \n\n \n$\n\n \n\n \n\n \n84,683\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n46,025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n168,133\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n75,395\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nReturn on assets (annualized)\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.2\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nReturn on equity (annualized)\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.5\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n Segment Financial and Operating Statistics Information \n\n \n \n \nSEGMENT INFORMATION\n\n \n\n \n\n \n \n \n(Unaudited)\n\n \n\n \n\n \n \n \n(In thousands)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Revenues \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Truckload Transportation Services \n\n \n\n \n\n \n$\n\n \n\n \n\n \n702,572\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n517,647\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,296,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,019,522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWerner Logistics\n\n \n\n \n\n \n \n\n \n\n \n\n \n211,732\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n221,177\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n407,568\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n416,735\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n19,024\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n18,439\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n37,033\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36,662\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCorporate\n\n \n\n \n\n \n \n\n \n\n \n\n \n597\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n634\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,157\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,155\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSubtotal\n\n \n\n \n\n \n \n\n \n\n \n\n \n933,925\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n757,897\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,742,642\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,474,074\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInter-segment eliminations (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4,749\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(105\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(8,812\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nTotal\n\n \n\n \n\n \n$\n\n \n\n \n\n \n933,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n753,148\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,742,537\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,465,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Operating Income (Loss) \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Truckload Transportation Services \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n64,089\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n41,056\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n63,173\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWerner Logistics\n\n \n\n \n\n \n \n\n \n\n \n\n \n(3,870\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,328\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(5,875\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,853\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n969\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(39\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,615\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(448\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nCorporate\n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,296\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2,057\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(15,880\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(6,089\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nTotal\n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,921\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n66,321\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n20,916\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n60,489\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n \n (1) Other includes our driver training schools, transportation-related activities such as third-party equipment maintenance and equipment leasing, and other business activities. \n \n \n (2) Inter-segment eliminations represent transactions between reporting segments that are eliminated in consolidation. \n \n \n \n \nOPERATING STATISTICS BY SEGMENT\n\n \n\n \n\n \n \n \n(Unaudited)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n% Chg\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n% Chg\n\n \n\n \n\n \n \n \n Truckload Transportation Services segment \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage trucks in service\n\n \n\n \n\n \n \n\n \n\n \n\n \n8,712\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,489\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,452\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAverage revenues per truck per week (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n5,053\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,632\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,842\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,563\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal trucks (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCompany\n\n \n\n \n\n \n \n\n \n\n \n\n \n8,380\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,380\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nIndependent contractor\n\n \n\n \n\n \n \n\n \n\n \n\n \n315\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n330\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4.5\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n315\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n330\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4.5\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nTotal trucks\n\n \n\n \n\n \n \n\n \n\n \n\n \n8,695\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,545\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,695\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,545\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal trailers (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n35,510\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24,660\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35,510\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24,660\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n One-Way Truckload \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTrucking revenues, net of fuel surcharge (in 000’s)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n137,948\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n164,083\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(15.9\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n274,349\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n318,504\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(13.9\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nAverage trucks in service\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,736\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,634\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(34.1\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,929\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,633\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(26.7\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nTotal trucks (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,735\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,655\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(34.7\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,735\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,655\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(34.7\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nAverage percentage of empty miles\n\n \n\n \n\n \n \n\n \n\n \n\n \n14.94\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.50\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(3.6\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.27\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15.75\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n(3.0\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nAverage revenues per truck per week (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n6,114\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,787\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n5,529\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,650\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n18.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAverage % change YOY in revenues per total mile (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n10.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage % change YOY in total miles per truck per week\n\n \n\n \n\n \n \n\n \n\n \n\n \n15.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2.3\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2.9\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage completed trip length in miles (loaded)\n\n \n\n \n\n \n \n\n \n\n \n\n \n685\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n581\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n679\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n579\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n Dedicated \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTrucking revenues, net of fuel surcharge (in 000’s)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n434,276\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n286,820\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n51.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n806,156\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n565,472\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n42.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAverage trucks in service\n\n \n\n \n\n \n \n\n \n\n \n\n \n6,976\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,855\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n43.7\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,654\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,819\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n38.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal trucks (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n6,960\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,890\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n42.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,960\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,890\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n42.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAverage revenues per truck per week (1)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,789\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,542\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,654\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,512\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n Werner Logistics segment \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage trucks in service\n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(3.6\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal trucks (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nTotal trailers (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2,470\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,650\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(32.3\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,470\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,650\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(32.3\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nTotal containers (at quarter end)\n\n \n\n \n\n \n \n\n \n\n \n\n \n375\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n200\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n87.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n375\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n200\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n87.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n(1) Net of fuel surcharge revenues\n\n \n\n \n\n \n \n Non-GAAP Financial Measures and Reconciliations \n\n \nTo 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 by our business. Management compensates for these limitations by primarily relying on GAAP results and using non-GAAP financial measures on a supplemental basis.\n\n \nThe 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.\n\n \n \n \nRECONCILIATION OF NON-GAAP FINANCIAL MEASURES – CONSOLIDATED\n\n \n\n \n\n \n \n \n(unaudited)\n\n \n\n \n\n \n \n \n(In thousands, except per share amounts)\n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n \n Non-GAAP Adjusted Operating Income and Non-GAAP Adjusted Operating \n\n \n\n \n Margin (1) \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n \nOperating income and operating margin – (GAAP)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,921\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n66,321\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n20,916\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n60,489\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-GAAP adjustments:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45,662\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(6.1\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(44,151\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(3.0\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nRestructuring and impairment (3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAmortization of intangible assets (4)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2,223\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,517\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,258\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,035\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nContingent consideration adjustment (5)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(1.0\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.5\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nSeverance expense (6)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,300\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,300\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAcquisition expenses (7)\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,340\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,253\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-GAAP adjusted operating income and non-GAAP adjusted operating margin\n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,578\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,555\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n39,521\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n14,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.0\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n \n Non-GAAP Adjusted Net Income (Loss) Attributable to Werner and Non-GAAP \n\n \n\n \n Adjusted Diluted Earnings (Loss) Per \n\n \n\n \n Share (1) \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \nDiluted EPS\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \nDiluted EPS\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \nDiluted EPS\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \nDiluted EPS\n\n \n\n \n\n \n \n \nNet income attributable to Werner and diluted earnings per share – (GAAP)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n6,350\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n44,062\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.72\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,088\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.03\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n33,964\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.55\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-GAAP adjustments:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45,662\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.75\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(44,151\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.72\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nRestructuring and impairment, net of amount attributable to noncontrolling interest (3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n3,710\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.06\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,710\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.06\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAmortization of intangible assets, net of amount attributable to noncontrolling\n\n \n\n \ninterest (4)\n\n \n\n \n\n \n \n\n \n\n \n\n \n2,223\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.03\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,345\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.04\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,258\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.07\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,691\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.08\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nContingent consideration adjustments (5)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.13\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.13\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nSeverance expense (6)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,300\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.02\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,300\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.02\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAcquisition expenses (7)\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,340\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.07\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,253\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLoss (gain) on investments in equity\n\n \n\n \nsecurities (8)\n\n \n\n \n\n \n \n\n \n\n \n\n \n11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(15\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nEarnings from equity method investment (9)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(650\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.01\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(719\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.01\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(736\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.01\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(842\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.01\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nIncome tax effect of above adjustments (10)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(2,457\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.04\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11,492\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.19\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4,455\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.07\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,644\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-GAAP adjusted net income (loss) attributable to Werner and non-GAAP adjusted diluted earnings (loss) per share\n\n \n\n \n\n \n$\n\n \n\n \n\n \n13,527\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.22\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n4,930\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.08\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n15,103\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(2,280\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n(0.04\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended\n\n \n\n \n June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n \n Non-GAAP Adjusted Operating Revenues, Net of Fuel \n\n \n\n \n Surcharge (1) \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n \nOperating revenues – (GAAP)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n933,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n753,148\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,742,537\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,465,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-GAAP adjustment:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTrucking fuel surcharge (11)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(120,569\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(55,201\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(199,037\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(112,841\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nNon-GAAP Adjusted Operating revenues, net of fuel surcharge\n\n \n\n \n\n \n$\n\n \n\n \n\n \n813,358\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n697,947\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,543,500\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,352,421\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \nRECONCILIATION OF NON-GAAP FINANCIAL MEASURES – TRUCKLOAD TRANSPORTATION SERVICES (TTS) SEGMENT\n\n \n\n \n\n \n \n \n(unaudited)\n\n \n\n \n\n \n \n \n(In thousands)\n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n \n Non-GAAP Adjusted Operating Income and \n\n \n\n \n Non-GAAP Adjusted Operating Margin (1) \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n \nOperating income and operating margin – (GAAP)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.9\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n64,089\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n41,056\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n63,173\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-GAAP adjustments:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45,662\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(8.8\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(44,151\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(4.3\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nRestructuring and impairment (3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAmortization of intangible assets (4)\n\n \n\n \n\n \n \n\n \n\n \n\n \n1,074\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,369\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,961\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,738\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nContingent consideration adjustment (5)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(1.5\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(7,921\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(0.8\n\n \n\n \n\n \n)%\n\n \n\n \n\n \n \n \nSeverance expense (6)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n900\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n900\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-GAAP adjusted operating income and non-GAAP adjusted operating margin\n\n \n\n \n\n \n$\n\n \n\n \n\n \n32,286\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n12,775\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.5\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n47,111\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n14,739\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.4\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n \n \n\n \n\n \n\n \nThree Months Ended June 30 ,\n\n \n\n \n\n \n \n\n \n\n \n\n \nSix Months Ended June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n\n \n\n \n\n \n2026\n\n \n\n \n\n \n \n\n \n\n \n\n \n2025\n\n \n\n \n\n \n \n \n Non-GAAP Adjusted Operating Expenses \n\n \n\n \n and Non-GAAP Adjusted Operating Ratio (1) \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n \n\n \n\n \n\n \n% of Op. Rev.\n\n \n\n \n\n \n \n \nOperating expenses and operating ratio – (GAAP)\n\n \n\n \n\n \n$\n\n \n\n \n\n \n675,454\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n96.1\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n453,558\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n87.6\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,255,828\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n96.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n956,349\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n93.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-GAAP adjustments:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInsurance and claims (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n45,662\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8.8\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44,151\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4.3\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nRestructuring and impairment (3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n(4,094\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \...

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