WERN on Nasdaq

Werner Enterprises

Logo: Werner Enterprises, Public domain, via Wikimedia Commons4

American transportation and logistics company

Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1956Founded1

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  • TickerWERN on Nasdaq1
  • IndustryTrucking (No Local)1
  • HeadquartersOmaha1
  • Websitewww.werner.com
  • Incorporated inNE5
  • Business address14507 Frontier Road, Omaha, Ne 681385
  • Filer categoryLarge accelerated filer5
2022 Werner Enterprises
Photo: Lauren Reams, CC BY-SA 4.0, via Wikimedia Commons7

Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

0.4%Operating margin8
-0.5%Net margin8
-1.9%Revenue growth, 20258
-1.1%Return on equity8
0.55×Debt to equity8
-$68.5MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Transportation Services brought in 49% of the revenue Werner Enterprises broke down this way in fiscal 2025.

  1. Transportation Services$2.9B849%down 2% from 2024
  2. Truckload Transportation Services$2.1B835%down 4% from 2024
  3. Werner Logistics$856.9M815%up 3% from 2024
  4. Other revenue recognition segments$74.9M81%down 0% from 2024
Business segments by year
Business segments202320242025
Transportation Services$3.2B$3.0B$2.9B
Truckload Transportation Services$2.3B$2.1B$2.1B
Werner Logistics$910.4M$831.3M$856.9M
Other revenue recognition segments$79.9M$75.1M$74.9M

Regions

United States brought in 95% of the revenue Werner Enterprises broke down this way in fiscal 2025.

  1. United States$2.8B895%down 1% from 2024
  2. Mexico$120.4M84%down 19% from 2024
  3. Canada$14.2M80%down 50% from 2024
Regions by year
Regions202320242025
United States$3.1B$2.9B$2.8B
Mexico$159.2M$147.8M$120.4M
Canada$35.1M$28.3M$14.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$2.9B
  • Income tax0¢$2.2M

Out of $2.9B in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending74¢$250.4M
  • Dividends paid10¢$34.1M
  • Share buybacks16¢$55.6M

Out of $181.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8

Financial statements

Revenue91011128$2.9B in 2025+18% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.5B$2.5B20192020: $2.4B$2.4B2020−4%2021: $2.7B$2.7B2021+15%2022: $3.2B$3.2B2022+18%2023: $3.2B$3.2B2023−0%2024: $3.0B$3.0B2024−8%2025: $2.9B$2.9B2025−2%
Operating income91011128$11.7M in 2025−95% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $225.5M$225.5M20192020: $227.4M$227.4M2020+1%2021: $309.1M$309.1M2021+36%2022: $323.1M$323.1M2022+5%2023: $176.4M$176.4M2023−45%2024: $66.1M$66.1M2024−63%2025: $11.7M$11.7M2025−82%
Net income91011128-$14.4M in 2025
-$100.0M0$100.0M$200.0M$300.0M2019: $166.9M$166.9M20192020: $169.1M$169.1M2020+1%2021: $259.1M$259.1M2021+53%2022: $241.3M$241.3M2022−7%2023: $112.4M$112.4M2023−53%2024: $34.2M$34.2M2024−70%2025: -$14.4M-$14.4M2025

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Operating revenues$3.0B$3.0B$3.3B
Salaries, wages and benefits$1.0B$1.0B$1.1B
Fuel$247.8M$275.4M$345.0M
Supplies and maintenance$248.2M$246.1M$256.5M
Taxes and licenses$90.5M$97.2M$102.7M
Insurance and claims$116.0M$145.4M$138.5M
Depreciation and amortization$286.3M$290.4M$299.5M
Rent and purchased transportation$902.8M$844.9M$886.3M
Communications and utilities$15.9M$17.2M$18.5M
Restructuring and impairment$44.2M$0$0
Other$10.2M$12.7M-$12.4M
Total operating expenses$3.0B$3.0B$3.1B
Operating income (loss)$11.7M$66.1M$176.4M
Interest expense$39.1M$39.2M$33.5M
Interest income-$5.6M-$6.9M-$6.7M
Loss (gain) on investments in equity securities$68.0K-$7.9M$278.0K
Loss (earnings) from equity method investment-$656.0K-$556.0K$1.0M
Other-$385.0K-$162.0K$477.0K
Total other expense, net$32.4M$23.7M$28.6M
Income (loss) before income taxes-$20.8M$42.5M$147.8M
Income tax expense$2.2M$8.9M$35.5M
Net income (loss)-$23.0M$33.6M$112.3M
Net loss attributable to noncontrolling interest$8.6M$663.0K$92.0K
Net income (loss) attributable to Werner-$14.4M$34.2M$112.4M
Basic (in dollars per share)-$0.24$0.55$1.77
Diluted (in dollars per share)-$0.24$0.55$1.76
Basic (in shares)60.6M shares62.5M shares63.4M shares
Diluted (in shares)60.6M shares62.7M shares63.7M shares

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The story

In 1956, Clarence "CL" Werner sold his family vehicle for a Ford Motor Company gasoline-powered truck, and began hauling cargo for other companies. In 1964, CL moved his company out of his home and into a shop in Council Bluffs, Iowa. In 1977, Werner Enterprises moved its corporate headquarters to its current location in Omaha, Nebraska. By 1999, Werner had expanded its operations into Mexico, reaching one billion dollars in revenue. Werner was among the six largest truckload and less-than-truckload (LTL) carriers in the United States in 2023.

From Wikipedia’s article on Werner Enterprises, shared under CC BY-SA 4.0.6

Products and brands

Werner's fleet consists of approximately 8,300 trucks, 30,000 trailers and employs 14,300 employees and independent contractors. The company conducts business in more than 150 countries, with offices in the U.S., Canada and Mexico. It is the largest truckload transportation provider serving the Mexico cross-border market.

Werner's common stock trades on the NASDAQ Global Select Market under the symbol WERN. Werner announced its Werner DRIVE strategy in 2022, which stands for Durable, Results, Innovation, Values and ESG. Building on the "5Ts + S" strategy, Werner DRIVE incorporates sustainability, capital allocation, an outcome-oriented approach to operations, a drive to innovate and a culture that supports and values its team members.

From Wikipedia’s article on Werner Enterprises, shared under CC BY-SA 4.0.6

Acquisitions

In July 2021, Werner acquired regional truckload carriers ECM Transport Group (ECM Transport and Motor Carrier Service, LLC), expanding in the Mid-Atlantic, Ohio and Northeast regions.

In November 2021, Werner acquired final mile carrier NEHDS Logistics, LLC.

In October 2022, Werner acquired truckload carrier Baylor Trucking, Inc., expanding in the east central and south-central U.S. truckload markets.

In November 2022, Werner acquired asset-light logistics provider and truckload carrier, ReedTMS Logistics.

From Wikipedia’s article on Werner Enterprises, shared under CC BY-SA 4.0.6

Timeline

  1. 1956Founded Founded1

Recent filings

  1. Oct 8, 20268-K
  2. Oct 6, 20268-K
  3. Aug 24, 20268-K
  4. Aug 14, 2026SCHEDULE 13G
  5. Aug 11, 20264
  6. Aug 10, 20268-K
  7. Aug 10, 20263
  8. Aug 10, 20264
  9. Aug 7, 202610-Q
  10. Aug 6, 2026SCHEDULE 13G/A
  11. Aug 5, 20268-K
  12. Jul 28, 20268-K
  13. Jul 14, 20264/A
  14. Jul 14, 20264
  15. Jun 16, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2