Werner Enterprises started in 1956 when 19-year-old Clarence L. Werner began hauling freight with a single truck. Today the Omaha, Nebraska company trades on Nasdaq as WERN. It reported $2.974 billion of operating revenues for FY2025 and is led by Chairman and CEO Derek J. Leathers.
How Werner makes money
Werner reports two main segments. Truckload Transportation Services, 69% of FY2025 revenues, combines Dedicated fleets assigned to individual customers with One-Way Truckload for irregular routes, including temperature-controlled and cross-border Mexico freight. Werner Logistics, 29% of revenues, arranges brokerage, intermodal and final-mile moves using third-party carriers.
A difficult freight cycle
Revenue fell from $3.29 billion in FY2022 to $2.97 billion in FY2025 as truckload rates weakened. Werner recorded a $14.4 million net loss attributable to the company in FY2025, compared with $34.2 million of net income in FY2024.
The FirstFleet deal
On January 27, 2026, Werner closed its acquisition of dedicated carrier FirstFleet. It paid $245 million for the company and $37.8 million for related real estate. The deal added more than $615 million of trailing revenue and about 2,400 tractors, and Werner is targeting $18 million of annual cost synergies.
Q2 2026 results
Second-quarter 2026 revenue rose 24% to $933.9 million, and TTS revenue grew 36%. GAAP operating income fell to $16.9 million because the prior-year quarter included $53.6 million of liability reversals. Adjusted operating income rose 67% to $27.6 million, and adjusted diluted EPS was $0.22. Werner Logistics posted an operating loss for the quarter.
