Werner Enterprises (WERN)
NASDAQ:WERN
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Werner Enterprises
(NASDAQ:WERN)
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Rating:54Neutral
Price Target:
$44.00
â–²(35.05% Upside)
Action:Reiterated
Date:06/11/26
WERN scores in the mid-range primarily due to weak financial performance (margin compression, slight losses, and persistent negative free cash flow) despite acceptable liquidity and positive operating cash flow. Technicals are supportive with a strong uptrend, but momentum is overbought. The earnings call improves the outlook via reaffirmed guidance and visible acquisition synergies, while valuation remains constrained by negative earnings despite a modest dividend yield.
Positive Factors
Dedicated Fleet Expansion
A rapidly expanding dedicated fleet increases recurring, contractually-backed revenue and reduces exposure to volatile spot markets. Higher share of Dedicated trucks improves route predictability, utilization and customer stickiness, supporting more stable margins and revenue visibility over the next several quarters.
Negative Factors
Persistent Negative Free Cash Flow
Consistent negative free cash flow limits capacity for dividends, buybacks, or debt reduction and forces reliance on external financing to fund fleet growth. Over several quarters this constrains capital allocation choices and increases sensitivity to interest costs or covenant pressures if adverse conditions persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Dedicated Fleet Expansion
A rapidly expanding dedicated fleet increases recurring, contractually-backed revenue and reduces exposure to volatile spot markets. Higher share of Dedicated trucks improves route predictability, utilization and customer stickiness, supporting more stable margins and revenue visibility over the next several quarters.
Read all positive factors
Werner Enterprises (WERN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.64B
Dividend Yield1.84%
Average Volume (3M)1.09M
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth3.28%
EPS Growth-154.33%
CountryUS
Employees13,000
SectorIndustrials
Sector Strength72
IndustryTrucking
Share Statistics
EPS (TTM)-0.15
Shares Outstanding59,950,115
10 Day Avg. Volume1,574,393
30 Day Avg. Volume1,085,293
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)1.33
Price to Sales (P/S)0.61
P/FCF Ratio-26.54
Enterprise Value/Market Cap1.32
Enterprise Value/Revenue1.13
Enterprise Value/Gross Profit13.43
Enterprise Value/Ebitda10.83
Forecast
1Y Price Target
$38.42Price Target Upside17.91% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)0.95
Revenue Forecast (FY)$3.56B
Werner Enterprises Business Overview & Revenue Model
Company Description
Werner Enterprises, Inc. is a prominent transportation and logistics company that specializes in the movement of full truckload shipments for a wide range of goods. Operating both domestically across U.S. states and internationally, including Mexi...
How the Company Makes Money
Werner Enterprises makes money primarily by moving customers’ freight and charging for transportation and logistics services. Its revenue is generated through (1) asset-based truckload transportation, where Werner uses its own tractors, trailers, ...
Werner Enterprises Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
Overall the call presented a constructive picture: meaningful top-line growth (revenues +14%), strong TTS performance (+18% revenue) and substantial early wins from the FirstFleet acquisition (high customer retention, realized synergies) alongside sharp safety improvements and materially stronger cash flow. Offsetting items include still-pressed consolidated margins (adjusted margin 1.5%), temporary Logistics margin compression, higher debt from the acquisition, and inflation/driver availability headwinds. Management provided concrete operational progress (restructuring benefits, technology/AI rollout, cost savings) and reiterated guidance for fleet growth and improving pricing through bid season, supporting a positive outlook as market fundamentals tighten.Positive Updates
Revenue Growth
Total Q1 revenues of $809 million, up 14% year-over-year, driven by strength in Truckload Transportation Services (TTS) and Dedicated expansion.
Negative Updates
Low Consolidated Margins and EPS Impact
Consolidated adjusted operating income $11.9 million and adjusted operating margin 1.5%; adjusted EPS $0.02. Adverse weather and rapidly rising fuel in March negatively impacted EPS by approximately $0.05.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total Q1 revenues of $809 million, up 14% year-over-year, driven by strength in Truckload Transportation Services (TTS) and Dedicated expansion.
Read all positive updates
Company Guidance
Werner reaffirmed 2026 guidance and provided updated assumptions: full‑year average truck fleet growth of +23% to +28% (including FirstFleet), net CapEx of $185–225 million, and Dedicated revenue per truck per week guidance revised to flat to +3% (Q1 +0.8% y/y; ~3% pro forma); One‑Way truckload revenue per total mile is guided +1% to +4% for Q2, full‑year effective tax rate is 25.5%–26.5% (Q1 was 24.9%), net interest expense is expected to be $40–45 million, and gains on sale of used equipment are forecast at $8–18 million. Management expects to realize $6 million of synergies this year (>$5M implemented, >$1M realized) and the full $18M of cost synergies by mid‑next year; quarter‑end liquidity was $513 million (cash $62M, $451M available), debt $932M, and covenant‑defined pro forma net leverage ~2x.Werner Enterprises Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
56
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.07B | 2.97B | 3.03B | 3.28B | 3.29B | 2.73B |
| Gross Profit | 258.32M | 172.42M | 338.63M | 423.65M | 521.59M | 477.93M |
| EBITDA | 320.29M | 304.58M | 372.10M | 480.82M | 616.54M | 618.14M |
| Net Income | -8.56M | -14.40M | 34.23M | 112.38M | 241.26M | 259.05M |
Balance Sheet | ||||||
| Total Assets | 3.26B | 2.89B | 3.05B | 3.16B | 3.18B | 2.68B |
| Cash, Cash Equivalents and Short-Term Investments | 61.54M | 59.92M | 40.75M | 61.72M | 107.24M | 54.20M |
| Total Debt | 1.04B | 752.00M | 701.76M | 685.26M | 736.04M | 456.51M |
| Total Liabilities | 1.88B | 1.50B | 1.56B | 1.59B | 1.70B | 1.32B |
| Stockholders Equity | 1.35B | 1.36B | 1.46B | 1.53B | 1.44B | 1.33B |
Cash Flow | ||||||
| Free Cash Flow | -43.73M | -68.53M | -84.06M | -124.42M | -58.54M | -38.03M |
| Operating Cash Flow | 235.91M | 181.83M | 329.73M | 474.37M | 448.71M | 332.82M |
| Investing Cash Flow | -367.95M | -171.57M | -241.45M | -434.94M | -514.33M | -397.30M |
| Financing Cash Flow | 139.93M | 7.30M | -105.72M | -87.07M | 118.03M | 89.67M |
Werner Enterprises Technical Analysis
Positive
32.58
Price Trends
36.86
Positive
34.51
Positive
31.20
Positive
Market Momentum
2.12
Positive
71.47
Negative
60.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WERN, the sentiment is Positive. The current price of 32.58 is below the 20-day moving average (MA) of 41.55, below the 50-day MA of 36.86, and above the 200-day MA of 31.20, indicating a bullish trend. The MACD of 2.12 indicates Positive momentum. The RSI at 71.47 is Negative, neither overbought nor oversold. The STOCH value of 60.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WERN.
Werner Enterprises Risk Analysis
Werner Enterprises disclosed 18 risk factors in its most recent earnings report. Werner Enterprises reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Werner Enterprises Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $1.48B | 102.15 | 1.89% | 2.07% | -7.81% | -33.01% | |
60 Neutral | $6.73B | 68.75 | 3.24% | 1.40% | 5.54% | -21.38% | |
58 Neutral | $3.85B | 69.11 | 4.30% | 0.62% | -1.65% | -67.84% | |
57 Neutral | $1.25B | -28.75 | -5.66% | 0.87% | -23.49% | -54.25% | |
54 Neutral | $2.64B | -307.74 | -0.62% | 1.84% | 3.28% | -154.33% | |
46 Neutral | $451.98M | -4.13 | -18.94% | 2.76% | -11.11% | -231.01% |
* Industrials Sector Average
WERN
Werner Enterprises
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Werner Enterprises Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Werner Enterprises Expands Receivables-Backed Credit Facility Capacity
Positive
Jun 10, 2026
On June 5, 2026, Werner Receivables Company, a subsidiary of Werner Enterprises, amended its Loan and Security Agreement with Wells Fargo, GTA Funding and TD Bank, increasing its maximum funding limit to $350 million, with the potential to rise to...
Executive/Board ChangesShareholder Meetings
Werner Enterprises Announces Board Changes and Governance Approvals
Positive
May 13, 2026
On May 12, 2026, Werner Enterprises announced that director Carmen A. Tapio retired from its board of directors, with the company stating her departure was not due to any disagreement over operations, policies or practices. Her retirement coincide...
Business Operations and Strategy
Werner Enterprises Highlights Strategy at Upcoming Investor Conferences
Positive
May 11, 2026
On May 11, 2026, Werner Enterprises announced it would participate in two upcoming investment conferences, highlighting its engagement with the investment community and emphasis on transparent communication with stakeholders. The company will join...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.