WERN

A month has gone by since the last earnings report for Old Dominion Freight Line (ODFL). Shares have lost about 5.8% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Old Dominion due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Old Dominion reported second-quarter 2026 earnings of $1.68 per share, up 32.3% year over year. The figure beat the Zacks Consensus Estimate of $1.52 by 10.5%. Revenues rose 10.4% to $1.55 billion and inched past the consensus mark of $1.54 billion by 0.8%. The upside reflected stronger yield, with LTL revenue per hundredweight increasing 15.2%, despite lower freight volumes.LTL services revenues increased 10.3% year over year to $1.54 billion. Other services revenues advanced 19.5% to $15.1 million, supporting broad-based top-line growth during the quarter. The revenue increase was primarily driven by pricing and mix. LTL revenue per hundredweight, excluding fuel surcharges, improved 5.5% from the year-ago period. Management linked the increase to its disciplined approach to yield management, which is intended to offset cost inflation and fund continued investment in capacity, technology and employees.LTL tons per day declined 4.1% year over year to 31,804. The decrease reflected a 5.7% drop in LTL shipments per day to 42,332, partly offset by a 1.7% increase in LTL weight per shipment to 1,503 pounds. LTL revenue per shipment climbed 17.2% to $568.55. Excluding fuel surcharges, revenue per shipment rose 7.2% to $446.44, helping offset weaker shipment activity. LTL intercity miles fell 4.8%, while the average length of haul edged down 0.3% to 909 miles. Total operating expenses increased 3.7% year over year to $1.09 billion, a much slower pace than revenue growth. Salaries, wages and benefits rose 2.3% to $687.3 million, while operating supplies and expenses increased 24.7% to $177.7 million.The operating ratio (operating expenses as a percentage of revenues) improved 450 basis points to 70.1%. Direct operating costs as a percentage of revenues improved 230 basis points. Overhead efficiency also benefited from $17.2 million in net gains on property and equipment disposals, supporting the year-over-year margin expansion.Operating income surged 30% year over year to $465.3 million. Net income advanced 30.5% to $350.6 million, while the net margin expanded to 22.6% from 19.1% in the prior-year quarter. The company maintained high service quality, reporting 99% on-time service and a claims ratio of 0.1%. Management said improving demand trends, disciplined pricing and operational execution helped produce profitable revenue growth while preserving the company’s customer-service standards.Net cash provided by operating activities was $272.7 million in the second quarter and $646.3 million for the first half of 2026. Capital expenditures were $77 million in the quarter and $139.6 million through the first six months.Old Dominion ended June with $283.9 million in cash and cash equivalents, up from $120.1 million at the end of 2025. Total assets were $5.74 billion, while total shareholders’ equity reached $4.55 billion. Current maturities of long-term debt were $20 million and no long-term debt remained on the balance sheet. The company now expects 2026 capital expenditures of about $380 million (earlier guidance was for $265 million). The plan includes $180 million for real estate and service-center expansion, $155 million for tractors and trailers, and $45 million for information technology and other assets.The updated spending plan is significantly higher than the $265 million anticipated after the first quarter. This increase primarily reflects additional planned investment in real estate, service centers, tractors and trailers.During the first half of 2026, ODFL used $239.7 million for share repurchases and paid $120.7 million in cash dividends. Management said continued investment in its network and workforce should provide the capacity needed to support customers as freight demand evolves and position the company to pursue additional market share. Since the earnings release, investors have witnessed a upward trend in estimates revision. Currently, Old Dominion has a average Growth Score of C, a grade with the same score on the momentum front. However, the stock has a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Old Dominion has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Old Dominion is part of the Zacks Transportation - Truck industry. Over the past month, Werner Enterprises (WERN), a stock from the same industry, has gained 4.5%. The company reported its results for the quarter ended June 2026 more than a month ago. Werner reported revenues of $933.93 million in the last reported quarter, representing a year-over-year change of +24%. EPS of $0.22 for the same period compares with $0.11 a year ago. For the current quarter, Werner is expected to post earnings of $0.39 per share, indicating a change of +1400% from the year-ago quarter. The Zacks Consensus Estimate has changed +12.1% over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Werner. Also, the stock has a VGM Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Old Dominion Freight Line, Inc. (ODFL) : Free Stock Analysis Report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Werner Enterprises (WERN). Shares have added about 6.1% in that time frame, outperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Werner due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Werner Enterprises, Inc. before we dive into how investors and analysts have reacted as of late. Werner Enterprises, Inc. reported second-quarter 2026 adjusted earnings of 22 cents per share, which matched the Zacks Consensus Estimate. The figure surged more than 100% from the year-ago quarter. Revenues of $933.9 million surpassed the consensus mark of $932 million by 0.2%. The top line increased 24% year over year owing 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 owing to $65.4 million higher fuel surcharge revenues. Adjusted operating income increased 67% year over year to $27.6 million. The adjusted operating margin expanded 80 basis points to 3%, reflecting stronger underlying performance despite acquisition-related and restructuring costs. Werner's Truckload Segment Drives Growth Truckload Transportation Services revenues rose 36% year over year to $702.6 million. Trucking revenues, excluding fuel surcharges, increased 27% year over year to $572.2 million, aided by FirstFleet, higher rates and improved asset utilization. Adjusted segment operating income jumped 153% year over year to $32.3 million. The adjusted operating margin, excluding fuel surcharges, improved 270 basis points to 5.5%, supported by FirstFleet contributions, better One-Way profitability and lower insurance and claims expense in the legacy business. Average TTS trucks increased 16.3% year over year to 8,712. The quarter-end fleet totaled 8,695 trucks, up 15.2% year over year, while average revenue per truck per week rose 9.1% to $5,053. WERN's Dedicated Fleet Benefits From FirstFleet Dedicated trucking revenues, net of fuel surcharges, increased 51.4% year over year to $434.3 million. Average Dedicated trucks rose 43.7% year over year to 6,976, reflecting the FirstFleet acquisition and organic fleet growth. Dedicated trucks represented 80% of the total TTS fleet at quarter-end. Average revenue per truck per week improved 5.4% year over year to $4,789, while the company maintained customer retention above 95%. Werner said that integration and synergy realization related to FirstFleet were running ahead of schedule. Continuity among acquired drivers, associates and customers also supported the segment's profitability improvement. Werner's One-Way Restructuring Shows Progress One-Way Truckload revenues, excluding fuel surcharges, declined 15.9% to $137.9 million as average trucks decreased 34.1% to 1,736. The smaller fleet reflected the company's restructuring actions. Productivity improved substantially. Revenue per total mile increased 10.4%, while total miles per truck per week rose 15.7%. Average completed trip length increased 17.9% to 685 miles, and the percentage of empty miles declined to 14.94%. Management attributed the improvement to higher spot rates, contractual rate increases and better freight selection. The restructuring also contributed to margin improvement within the broader TTS segment. WERN's Logistics Business Faces Margin Pressure Werner’s Logistics revenues declined 4% year over year to $211.7 million. Truckload Logistics revenues, representing 72% of segment revenues, fell 10% year over year as shipments decreased 29%, partly offset by a 26% year-over-year increase in revenue per shipment. Intermodal revenues rose 18% year over year, supported by a 17% increase in shipments. Final Mile revenues increased 14% year over year and 13% sequentially. The segment posted an adjusted operating loss of $2.7 million against adjusted operating income of $5.9 million a year earlier. Higher purchased transportation costs, lower volumes and gross-margin contraction reduced the adjusted operating margin to negative 1.3%. WERN Maintains Strong Liquidity and Cash Flow As of June 30, 2026, Werner had cash and cash equivalents of $57.02 million compared with $61.54 million at the prior-quarter end. Long-term debt (net of current portion) was $793 million compared with $869.6 million at the prior-quarter end. Operating cash flow increased 84% year over year to $84.7 million in the second quarter. Net capital proceeds totaled $9.7 million compared with capital expenditures of $65.6 million in the prior-year quarter, producing free cash flow of $94.4 million. The company did not repurchase shares during the quarter. Five million shares remained available under its repurchase authorization. Werner Updates 2026 Guidance Werner now expects 2026 TTS average truck count growth of 16-18%, down from the previous 23-28% range, as anticipated fleet additions are likely to shift beyond year-end. Dedicated revenue per truck per week is projected to rise 3-5%, compared with the prior flat-to-3% outlook. The company expects One-Way revenue per total mile to increase 10-13% in the third quarter. Full-year net capital expenditures are now forecasted to be between $215 million and $250 million, up from $185-$225 million, as Werner refreshes its tractor fleet. The projected tax rate remains in the range of 25.5%-26.5%. In the past month, investors have witnessed a upward trend in fresh estimates. The consensus estimate has shifted 10.86% due to these changes. At this time, Werner has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Werner has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Landstar System, Inc. LSTR has a stronger near-term investment case after its second-quarter rebound in revenues, earnings and freight pricing. The stock’s Zacks Rank #1 (Strong Buy), favorable estimate revisions and price-target upside support a positive view. The case is not without offsets. Shares have already rallied, valuation is above Landstar’s five-year median and cash-flow trends weakened in the first half, leaving the stock dependent on continued pricing strength and freight-market recovery. Landstar reported second-quarter 2026 earnings of $1.44 per share, up 20% year over year. The result came in 1.4% above the Zacks Consensus Estimate. Revenues rose 18.2% year over year to $1.43 billion and exceeded expectations by 8.3%. Operating income increased 17.7% to $66.2 million, showing that better freight conditions translated into higher profitability despite claims-related pressure. Truck pricing was the key driver. Truck revenues rose 19.3% year over year, supported by a 17% increase in truck revenue per load and a 1.9% increase in truck volumes. The trend continued into the third quarter. Management said that July truck loads were approximately 5% above the prior-year level, while July truck revenue per load was approximately 26% higher year over year. That pricing improvement is central to the earnings-recovery thesis. Landstar’s asset-light model can benefit when freight rates improve because higher revenue per load can lift variable contribution, provided insurance, claims and selling costs remain controlled. The Zacks Consensus Estimate points to 2026 earnings growth of 28.9% and sales growth of 14.3%. For 2027, earnings are projected to be $7.32 per share. Estimate revisions also support the near-term signal. The full-year earnings estimate has increased 2.5% over the past four weeks, indicating that analysts are giving more credit to Landstar’s rate recovery and revenue momentum. Landstar returned nearly $120 million to shareholders through dividends ($95.3 million) and share repurchases ($24.1 million) during the first half of 2026. As a reflection of its shareholder-friendly stance, in 2022, 2023, 2024 and 2025, LSTR paid dividends of $115.6 million, $117.1 million, $120.5 million and $124.7 million, respectively. Landstar is also active on the buyback front. LSTR repurchased shares worth $285.9 million in 2022, $53.9 million in 2023, $81.4 million in 2024 and $179.8 million in 2025. Concurrent with its second-quarter 2026 earnings release, Landstar’s board of directors approved a dividend, thereby raising its quarterly cash dividend to 44 cents per share ($1.76 annualized) from 40 cents ($1.60 annualized). The raised dividend will be paid out on Sept 9, 2026, to shareholders of record at the close of business on Aug 18. The move reflects LSTR’s intention to utilize free cash to enhance its shareholders’ returns. Landstar System, Inc. dividend-yield-ttm | Landstar System, Inc. Quote Apart from Landstar, other stocks like J.B. Hunt Transport Services, Inc. JBHT and Werner Enterprises, Inc. (WERN) from the similar industry have also been consistently rewarding their shareholders. LSTR trades at 23.37X forward 12-month earnings. That is below the truck sub-industry’s 25.64X but above Landstar’s five-year median of 21.88X. The multiple is not excessive versus the group, but it is not a clear bargain against the company’s own history. It assumes that stronger truck rates, better load activity and earnings growth will continue, rather than fading after one stronger quarter. Landstar’s $222 price target compares with a reported share price of $179.35. That points to meaningful implied upside from that level. The upside should be weighed against the stock’s recent run. Shares are up 23% year to date and 38% over the trailing 12 months, so further appreciation likely depends on sustained pricing, improving demand and better cash conversion. Landstar’s balance sheet helps, but cash-flow trends are less favorable. The company had $348 million in cash and short-term investments at quarter-end, while first-half operating cash flow fell to $27.8 million from $62.8 million and free cash flow declined to $19.1 million from $58.4 million. The bottom line: Landstar’s earnings rebound, freight-pricing momentum, rising estimates and price-target upside support a positive short-term view. The stock currently carries a Zacks Rank #1 (Strong Buy), and its Momentum Score of A strengthens the near-term case. You can see the complete list of today’s Zacks #1 Rank stocks here. The Value Score of D, Growth Score of D and VGM Score of D temper that signal, suggesting LSTR’s appeal rests more on estimate momentum and price strength than on a uniformly favorable factor profile. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Landstar System, Inc. (LSTR) : Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Werner Enterprises WERN is showing clearer signs of an earnings recovery as pricing, asset utilization and FirstFleet savings strengthen its truckload operations. The improvement has helped rebuild confidence after a difficult freight cycle. The decision is less straightforward at the current valuation. Logistics remains unprofitable, driver availability is limiting fleet growth and acquisition-related debt keeps execution risk elevated. The earnings trajectory is moving in the right direction. Consensus projections call for adjusted earnings per share to move from a loss in 2025 to positive results in 2026 and 2027, reflecting better expectations for the truckload business. Werner Enterprises, Inc. price-eps-surprise | Werner Enterprises, Inc. Quote Recent estimate increases add support to that outlook. Dedicated pricing has improved, One-Way revenue per total mile rose 10.4% in the second quarter and restructuring has helped Werner select freight more carefully and use equipment more efficiently. Dedicated accounted for 80% of Werner’s truckload fleet at the end of the second quarter. The business retained more than 95% of customers, while higher revenue per truck and healthy contract renewals supported earnings visibility. FirstFleet expanded the Dedicated fleet and increased Werner’s scale in a relatively stable part of trucking. J.B. Hunt Transport Services JBHT, which also operates a large Dedicated Contract Services business, reported second-quarter 2026 segment revenue and operating income growth of 9%, underscoring the relative resilience of dedicated operations. Werner Logistics remains a drag. Its adjusted operating margin was negative 1.3% in the second quarter because purchased transportation costs increased faster than customer contracts could be repriced. Driver availability creates another constraint. Management reduced its 2026 truck-growth forecast, which could delay rebuilding the One-Way fleet and increase recruiting costs. Knight-Swift Transportation Holdings KNX, one of North America’s largest diversified freight carriers, also competes across truckload and logistics markets where driver supply and freight selection influence returns. WERN trades above its five-year median forward earnings multiple and at a premium to the broader transportation sector. That valuation assumes the earnings recovery will continue and leaves less room for delays. Further upside may require sustained truckload margin expansion, successful Logistics repricing and continued FirstFleet savings. Werner generated more than $3 million of FirstFleet-related savings in the first half of 2026 and expects more than $7 million for the full year, but its longer-term $18 million synergy target still depends on execution. Werner’s operating progress supports a more constructive view, but the premium valuation, Logistics losses, driver constraints and elevated debt argue against treating the recovery as complete. The stock may be better suited to investors willing to monitor execution rather than chase the rebound. WERN currently carries a Zacks Rank #3 (Hold). It also has a Growth Score of A, Momentum Score of A, Value Score of B and VGM Score of A, indicating favorable growth and momentum characteristics with reasonably supportive value traits. The Style Scores complement the Zacks Rank rather than replace it. A Hold ranking can support maintaining an existing position, but it does not provide the stronger near-term signal associated with a Zacks Rank #1 (Strong Buy) or #2 (Buy). For new investors, clearer Logistics improvement or a more attractive entry valuation would strengthen the case. Currently, WERN carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report Knight-Swift Transportation Holdings Inc. (KNX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: $934 million, up 24% year-over-year. Adjusted Operating Income: $27.6 million, up 67% year-over-year. Adjusted Operating Margin: 3%, an increase of 80 basis points. Adjusted EPS: $0.22, up $0.14 year-over-year. Truckload Transportation Services Revenue: $703 million, up 36% year-over-year. Dedicated Trucking Revenue: $434 million, up 51% year-over-year. Logistics Revenue: $212 million, down 4% year-over-year. Operating Cash Flow: $85 million, up 84% year-over-year. Free Cash Flow: $94 million, representing 10% of total revenues. Net CapEx: Net proceeds of nearly $10 million. Total Liquidity: $657 million, including $57 million of cash on hand. Net Debt: $841 million, with a net decrease of $86 million sequentially. Fleet Size: TTS average trucks totaled 8,712, a 16% increase year-over-year. Dedicated Fleet Increase: 44% year-over-year, with the addition of First Fleet. One-Way Truckload Revenue per Truck per Week: Increased 27.7% year-over-year. Warning! GuruFocus has detected 9 Warning Signs with WERN. Is WERN fairly valued? Test your thesis with our free DCF calculator. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Werner Enterprises Inc (NASDAQ:WERN) reported a 24% revenue growth and an 80 basis points increase in adjusted operating margin for the second quarter. The company has successfully integrated First Fleet, achieving a 98% renewal rate and realizing synergies ahead of schedule. Werner's dedicated business remains strong with over 95% customer retention and successful rate increases on renewals. The company is leveraging technology and AI to improve operational efficiencies, with initiatives already delivering results in areas like road breakdown support and carrier payments. Werner Enterprises Inc (NASDAQ:WERN) has seen significant productivity improvements in its one-way truckload segment, with revenue per truck per week growth being the strongest in the last decade. The logistics segment faced margin pressure due to higher purchase transportation costs, resulting in a negative 1.3% adjusted operating margin. There is a slower pace of driver hiring, which has impacted fleet growth and delayed some anticipated growth into 2027. The company experienced a decline in gains on the sale of property and equipment, negatively impacting adjusted EPS by $0.05. Werner Enterprises Inc (NASDAQ:WERN) is facing challenges with fewer quality drivers available across the industry, impacting recruitment efforts. The spike in spot rates during the second quarter put further margin pressure on the logistics business, although improvements are expected as the year progresses. Q: You mentioned getting low to mid-single-digit increases on your dedicated business. Why is that not moving higher as we move through the rest of the year? A: Derek Leathers, CEO: The low to mid-single-digit increases refer to one-way contract renewals. We raised our guidance on dedicated revenue per truck per week from flat to 3% up to 3% to 5%. The market continues to strengthen, and cooperation with customers for reliable capacity is ongoing. Q: How do you expect the latest court ruling to impact your logistics business and the market as a whole? A: Derek Leathers, CEO: The verdict highlights the risks in the industry. We have strengthened our vetting processes and carrier qualifications. Customers are increasingly focusing on quality and reliability, which benefits our asset business and logistics side. Q: Can you provide thoughts on the remaining regulatory enforcement actions and their impact on pricing? A: Derek Leathers, CEO: We are in the early innings of regulatory enforcement. The focus is on English language proficiency, fraudulent CDL schools, and high-risk carrier investigations. We expect continued capacity removal, which will support ongoing rate increases. Q: With dedicated bid activity at multi-year highs, how is the pipeline of trainees in your driver school network? A: Derek Leathers, CEO: Dedicated bid activity is robust, and we are selective in our engagements. Our schools are producing high-quality drivers, and we are seeing benefits from experienced hires. We are also working with customers on targeted driver pay increases where necessary. Q: Are you seeing any signs of shippers moving away from asset-light towards asset-heavy in a post-Montgomery world? A: Derek Leathers, CEO: Yes, assets matter more than ever. We have completed a structural reset, focusing on cross-border Mexico, team expedited, and engineered lanes. This has led to unprecedented increases in rate per mile and utilization, benefiting both our drivers and customers. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Werner Enterprises, Inc. (WERN) reported second-quarter 2026 adjusted earnings of 22 cents per share, which matched the Zacks Consensus Estimate. The figure surged more than 100% from the year-ago quarter. Revenues of $933.9 million surpassed the consensus mark of $932 million by 0.2%. The top line increased 24% year over year owing 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 owing to $65.4 million higher fuel surcharge revenues. Adjusted operating income increased 67% year over year to $27.6 million. The adjusted operating margin expanded 80 basis points to 3%, reflecting stronger underlying performance despite acquisition-related and restructuring costs. Werner Enterprises, Inc. price-consensus-eps-surprise-chart | Werner Enterprises, Inc. Quote Truckload Transportation Services revenues rose 36% year over year to $702.6 million. Trucking revenues, excluding fuel surcharges, increased 27% year over year to $572.2 million, aided by FirstFleet, higher rates and improved asset utilization. Adjusted segment operating income jumped 153% year over year to $32.3 million. The adjusted operating margin, excluding fuel surcharges, improved 270 basis points to 5.5%, supported by FirstFleet contributions, better One-Way profitability and lower insurance and claims expense in the legacy business. Average TTS trucks increased 16.3% year over year to 8,712. The quarter-end fleet totaled 8,695 trucks, up 15.2% year over year, while average revenue per truck per week rose 9.1% to $5,053. Dedicated trucking revenues, net of fuel surcharges, increased 51.4% year over year to $434.3 million. Average Dedicated trucks rose 43.7% year over year to 6,976, reflecting the FirstFleet acquisition and organic fleet growth. Dedicated trucks represented 80% of the total TTS fleet at quarter-end. Average revenue per truck per week improved 5.4% year over year to $4,789, while the company maintained customer retention above 95%. Werner said that integration and synergy realization related to FirstFleet were running ahead of schedule. Continuity among acquired drivers, associates and customers also supported the segment's profitability improvement. One-Way Truckload revenues, excluding fuel surcharges, declined 15.9% to $137.9 million as average trucks decreased 34.1% to 1,736. The smaller fleet reflected the company's restructuring actions. Productivity improved substantially. Revenue per total mile increased 10.4%, while total miles per truck per week rose 15.7%. Average completed trip length increased 17.9% to 685 miles, and the percentage of empty miles declined to 14.94%. Management attributed the improvement to higher spot rates, contractual rate increases and better freight selection. The restructuring also contributed to margin improvement within the broader TTS segment. Werner’s Logistics revenues declined 4% year over year to $211.7 million. Truckload Logistics revenues, representing 72% of segment revenues, fell 10% year over year as shipments decreased 29%, partly offset by a 26% year-over-year increase in revenue per shipment. Intermodal revenues rose 18% year over year, supported by a 17% increase in shipments. Final Mile revenues increased 14% year over year and 13% sequentially. The segment posted an adjusted operating loss of $2.7 million against adjusted operating income of $5.9 million a year earlier. Higher purchased transportation costs, lower volumes and gross-margin contraction reduced the adjusted operating margin to negative 1.3%. As of June 30, 2026, Werner had cash and cash equivalents of $57.02 million compared with $61.54 million at the prior-quarter end. Long-term debt (net of current portion) was $793 million compared with $869.6 million at the prior-quarter end. Operating cash flow increased 84% year over year to $84.7 million in the second quarter. Net capital proceeds totaled $9.7 million compared with capital expenditures of $65.6 million in the prior-year quarter, producing free cash flow of $94.4 million. The company did not repurchase shares during the quarter. Five million shares remained available under its repurchase authorization. Werner now expects 2026 TTS average truck count growth of 16-18%, down from the previous 23-28% range, as anticipated fleet additions are likely to shift beyond year-end. Dedicated revenue per truck per week is projected to rise 3-5%, compared with the prior flat-to-3% outlook. The company expects One-Way revenue per total mile to increase 10-13% in the third quarter. Full-year net capital expenditures are now forecasted to be between $215 million and $250 million, up from $185-$225 million, as Werner refreshes its tractor fleet. The projected tax rate remains in the range of 25.5%-26.5%. Currently, Werner carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Delta Air Lines (DAL) reported second-quarter 2026 earnings (excluding 88 cents from non-recurring items) of $1.56 per share, beating the Zacks Consensus Estimate of $1.51. Earnings declined in double digits (% wise) from a year ago as sharply higher fuel costs pressured profitability. Revenues rose on a year-over-year basis to $17.67 billion but missed the consensus estimate of $17.76 billion. Broad demand strength lifted adjusted total revenue per available seat mile, or TRASM, 12.4%, while premium and diversified revenue streams continued to expand. United Airlines Holdings, Inc. (UAL)reported second-quarter 2026 adjusted earnings of $1.99 per share, down 48.6% year over year but above the Zacks Consensus Estimate of $1.92 by 3.7%. Operating revenues rose 16% to $17.67 billion and were essentially in line with the $17.68-billion consensus mark. A 12.1% increase in total revenue per available seat mile, or TRASM, and broad-based gains across premium, loyalty and cargo revenues supported the top line despite sharply higher fuel costs. J.B. Hunt Transport Services, Inc. (JBHT) reported second-quarter 2026 earnings of $1.91 per share, up 45.8% from $1.31 a year ago. The figure beat the Zacks Consensus Estimate of $1.71 by 11.7%. Operating revenues climbed 19.4% year over year to $3.50 billion and surpassed the consensus mark of $3.19 billion by 9.5%. Higher volumes and pricing across several businesses supported growth, led by a 10% increase in Intermodal loads. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes the 80 basis point adjusted operating margin expansion to a successful 1-way truckload restructuring and the accretive integration of FirstFleet. The market is entering a supply-driven recovery, characterized by structural capacity attrition due to intensifying regulatory pressure on non-domiciled CDLs and ELD provider revocations. Operational performance in the 1-way segment reached a decade-high in revenue per truck per week growth., driven by a strategic pivot toward cross-border Mexico, team-expedited, and engineered lanes. Dedicated business remains the portfolio's cornerstone, achieving 95% customer retention and its highest bid activity since 2020. as shippers seek reliable capacity in a tightening market. The company is utilizing AI and its single-edge TMS platform to automate shipment optimization and driver recruiting, aiming for structural cost savings through 2027. Management notes that recent legal verdicts, such as the Montgomery ruling, are prompting shippers to prioritize asset-backed brokers with rigorous safety vetting processes. Guidance for dedicated revenue per truck per week was raised to 3% to 5% growth, reflecting successful contract renewals and increased asset productivity. The full-year average truck fleet guidance was lowered to 16% to 18% growth due to a tightening driver market and delayed hiring following the 1-way restructuring. Net CapEx guidance was increased to $215 million to $250 million to fund a strategic pre-buy of certain 2020 model year tractors ahead of 2027 emission standards. Management expects a more normalized peak season in the second half of the year, driven by lean retail inventories and non-discretionary replenishment needs. Logistics margins are projected to improve as the company resets to higher contract rates and moves past temporary spot rate pressures in temperature-controlled brokerage. Non-recurring costs in Q2 were primarily driven by FirstFleet integration and the final stages of the 1-way restructuring program. Insurance and claims expense reached its lowest level since Q3 2020, excluding FirstFleet, due to a 45% decline in DOT-preventable accidents per million miles. Gains on sale of used equipment were lower year-over-year at $1.5 million, though management expects values to improve in the second half due to OEM production constraints. The FirstFleet acquisition has already realized $3 million in year-to-date savings, with a total synergy target of $18 million over 18 months. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Derek Leathers stated the industry is only in the 'third inning' of capacity removal, with thousands of drivers already out of service due to English language proficiency and fraudulent CDL school crackdowns. Further capacity exits are expected through early 2027 as FMCSA increases agency collaboration and technology-based enforcement. Management acknowledged that high-quality driver hires are becoming more difficult, leading to a slower pace of fleet growth than originally anticipated. The company is leveraging its vertically integrated Roadmaster school network and offering 6-figure dedicated roles to attract experienced drivers. The double-digit utilization improvement was attributed to a shift in freight mix toward longer lengths of haul and team-oriented freight. Management believes these gains are sustainable because they are rooted in a permanent network redesign rather than temporary market fluctuations.

Interested in Werner Enterprises, Inc.? Here are five stocks we like better. Werner’s Q2 results improved significantly: Revenue rose 24% to $934 million, while adjusted operating income increased 67% to $27.6 million and adjusted EPS climbed to $0.22. Truckload profitability benefited from the One-Way restructuring, the FirstFleet acquisition and lower insurance costs. FirstFleet integration and One-Way restructuring are advancing: FirstFleet has generated more than $3 million in savings year to date, with Werner targeting $18 million in total synergies. One-Way revenue declined as the fleet was reduced, but productivity, pricing and margins improved substantially. Management sees improving market conditions but mixed segment performance: Logistics margins were pressured by higher brokerage transportation costs, though July gross margins improved. Werner raised its dedicated productivity outlook, expects continued rate and utilization gains, and increased its 2026 capital expenditure forecast to $215 million-$250 million. Werner Enterprises (NASDAQ:WERN) reported second-quarter revenue growth of 24% as its One-Way restructuring, the addition of FirstFleet and improved safety performance lifted profitability amid a tightening truckload market. Revenue totaled $934 million in the second quarter, while adjusted operating income increased 67% year over year to $27.6 million. Adjusted operating margin rose 80 basis points to 3%, and adjusted earnings per share were $0.22, up $0.14 from the prior-year period, CFO Chris Wikoff said. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit The company recorded $1.5 million of gains on sales of property and equipment, down from $5.9 million a year earlier and $3.8 million in the first quarter. Wikoff said lower equipment-sale gains reduced adjusted EPS by $0.05. Second-quarter results also included nonrecurring M&A and restructuring costs, with 45% of pretax adjustments tied to the FirstFleet acquisition and 43% related to the One-Way restructuring. Truckload Transportation Services revenue rose 36% to $703 million, while revenue excluding fuel surcharges increased 26% to $582 million. Adjusted operating income for the segment was $32.3 million, and adjusted operating margin excluding fuel reached 5.5%, up 270 basis points year over year. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Wikoff said the margin improvement reflected FirstFleet’s contribution, stronger profitability in One-Way trucking and lower insurance and claims expense in Werner’s legacy operations. The company reported another year-over-year decline of roughly 45% in DOT-preventable accidents per million miles, matching its first-quarter improvement. In the One-Way operation, revenue excluding fuel declined 16% to $138 million as the company operated fewer trucks following its restructuring. However, revenue per truck per week rose 27.7%, miles per truck increased 15.7%, and revenue per total mile gained 10.4%. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Leathers said the company has secured upper-single-digit to double-digit contractual pricing increases in some One-Way bids, while Wikoff said about 60% of the One-Way portfolio had been repriced at higher rates during the first half. One-Way adjusted operating margin improved by more than 700 basis points from a year earlier. The average One-Way fleet fell 34% year over year to 1,736 trucks and was down 18% sequentially. Wikoff said the company’s repositioning of assets and drivers, combined with a tighter hiring environment, limited the pace of driver rehiring. He described the operation as more profitable, productive and specialized in selected geographies. Dedicated trucking revenue excluding fuel increased 51% to $434 million. Dedicated represented 76% of Truckload Transportation Services revenue and 80% of segment trucks at quarter-end. Dedicated revenue per truck per week rose 5.4%, while Werner’s legacy dedicated fleet posted an 8% increase excluding the impact of the FirstFleet mix. Werner said the FirstFleet integration has progressed well six months after the acquisition. Leathers said continuity among drivers, associates and customers has been strong, while the business achieved a 98% renewal rate on more than 80% of the portfolio renewed so far. The company has realized more than $3 million in FirstFleet savings year to date, producing more than 100 basis points of margin improvement, according to Wikoff. Werner has identified actions representing approximately $9 million in annualized cost savings, including more than $7 million expected to be realized during 2026. The company maintained its target of $18 million in total synergies over 18 months. Werner expects some fleet growth in the second half, though it lowered its full-year average Truckload Transportation Services fleet-growth outlook to 16% to 18% from a prior range of 23% to 28%. Management cited productivity improvements and slower driver hiring, describing the delayed growth as an opportunity that could extend into 2027 rather than a lost opportunity. Logistics revenue declined 4% year over year to $212 million, although it rose 8% sequentially. The segment posted an adjusted operating margin of negative 1.3%, down 400 basis points, largely due to higher purchased transportation costs in truckload brokerage. Truckload logistics revenue fell 10% as shipments declined 29%, partially offset by a 26% increase in revenue per load. Gross margin was pressured by volatile buy-side rates, particularly in April and May. Wikoff said June produced the segment’s best gross margin of the quarter. Intermodal revenue increased 18%, supported by a 17% increase in load volume, while final-mile revenue rose 14%. Management said it is working with customers to reset contracts at higher rates and expects logistics margins to improve as the year progresses. Wikoff said July truckload brokerage gross margin per load was about 300 to 400 basis points higher than levels seen during the second quarter. Werner raised its full-year dedicated revenue-per-truck-per-week outlook to growth of 3% to 5%, from prior guidance ranging from flat to up 3%. It expects third-quarter One-Way revenue per total mile to increase 10% to 13% year over year. The company also raised its 2026 net capital expenditure forecast to $215 million to $250 million from $185 million to $225 million. Management said the increase will support fleet modernization and a limited pre-buy of 2026-model tractors ahead of 2027 emissions standards. Werner narrowed its expected annual gains on sales of used equipment and revenue-generating assets to $10 million to $14 million. Leathers said regulatory enforcement related to non-domiciled commercial driver’s licenses, English-language proficiency, cabotage and electronic logging devices is contributing to capacity attrition. He said shippers are placing greater emphasis on safety, service and financial stability following recent litigation and large verdicts affecting the industry. “We are building a leaner, more resilient portfolio that is spring-loaded for this upcycle,” Leathers said, adding that the company expects continued rate improvement, greater fleet utilization and sustained earnings growth through the second half of the year. Werner Enterprises, Inc, founded in 1956 by Clarence L. “Chris” Werner, is a leading transportation and logistics provider based in Omaha, Nebraska. The company began as a one‐truck operation and has since grown into one of North America's largest carriers, offering an array of services to support diverse supply chains. Werner's core business activities include full truckload dry van services, dedicated contract carriage, intermodal transport and brokerage solutions. The company also provides value-added services such as warehousing, freight management and fleet maintenance through its network of terminals and service centers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Werner Enterprises Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Werner Enterprises (WERN) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this transportation company would post a loss of $0.03 per share when it actually produced earnings of $0.02, delivering a surprise of +166.67%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Werner, which belongs to the Zacks Transportation - Truck industry, posted revenues of $933.93 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.16%. This compares to year-ago revenues of $753.15 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Werner shares have added about 34.7% since the beginning of the year versus the S&P 500's gain of 8.3%. While Werner has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Werner was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.35 on $963.38 million in revenues for the coming quarter and $1.03 on $3.66 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Truck is currently in the top 3% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, XPO (XPO), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This freight management company is expected to post quarterly earnings of $1.49 per share in its upcoming report, which represents a year-over-year change of +41.9%. The consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level. XPO's revenues are expected to be $2.28 billion, up 9.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report XPO, Inc. (XPO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

For the quarter ended June 2026, Werner Enterprises (WERN) reported revenue of $933.93 million, up 24% over the same period last year. EPS came in at $0.22, compared to $0.11 in the year-ago quarter. The reported revenue represents a surprise of +0.16% over the Zacks Consensus Estimate of $932.4 million. With the consensus EPS estimate being $0.22, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Werner performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Operating Ratio: 98.2% compared to the 95.7% average estimate based on three analysts. Truckload Transportation Services - Operating Ratio: 96.1% versus the three-analyst average estimate of 95.5%. Average trucks in service - Truckload Transportation Services: 8,712 versus the two-analyst average estimate of 9,209. Revenues- Werner Logistics: $211.73 million versus the three-analyst average estimate of $228.54 million. The reported number represents a year-over-year change of -4.3%. Revenues- Truckload Transportation Services- Trucking fuel surcharge revenues: $120.57 million versus the three-analyst average estimate of $101.13 million. The reported number represents a year-over-year change of +118.4%. Revenues- Truckload Transportation Services- Non-trucking and other: $9.78 million versus the three-analyst average estimate of $9.7 million. The reported number represents a year-over-year change of -15.3%. Revenues- Truckload Transportation Services: $702.57 million versus $679.53 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +35.7% change. Revenues- Truckload Transportation Services- Trucking revenues, net of fuel surcharge: $572.22 million versus the three-analyst average estimate of $568.67 million. The reported number represents a year-over-year change of +26.9%. Operating Income- Werner Logistics: $-3.87 million versus $1.14 million estimated by two analysts on average. Operating Income- Truckload Transportation Services: $27.12 million versus $29.59 million estimated by two analysts on average. View all Key Company Metrics for Werner here>>> Shares of Werner have returned -7.6% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research