Werner Enterprises Q3 revenue misses estimates as higher fuel costs weigh on margins
WERN•Werner Enterprises’ third-quarter revenue rose 23% to $950.51 million, slightly below the $955.05 million estimate, while adjusted net income of $9.49 million missed the $13.46 million estimate. The company narrowed its 2026 truck-count growth forecast and lowered its capital expenditure forecast.
1. Quarterly results
Werner Enterprises reported third-quarter revenue of $950.51 million, up 23% from a year earlier but slightly below the $955.05 million analyst estimate. Adjusted net income rose from a year-earlier loss to $9.49 million, below the $13.46 million estimate. Adjusted operating income was $20.98 million, with an adjusted operating margin of 2.20%.
2. Growth and costs
Truckload Transportation Services revenue rose 37%, driven by the FirstFleet acquisition and higher revenue per truck. The addition of FirstFleet also increased dedicated fleet size and revenue. Rapidly rising fuel costs weighed on margins during the quarter.
3. 2026 outlook
Werner narrowed its forecast for 2026 average truck-count growth in Truckload Transportation Services to 16%-17% and expects Dedicated revenue per truck per week growth of 4%-5%. It lowered its forecast for 2026 net capital expenditures to $190 million-$205 million.
