Werner Enterprises (WERN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Werner Enterprises published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Werner Enterprises reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Non-GAAP adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Werner's release reports in thousands of dollars. Figures here are converted to millions and rounded to one decimal.
• Werner acquired FirstFleet on January 27, 2026; its results are in the Dedicated part of Truckload Transportation Services. On October 19, 2026 Werner published preliminary Q3 results (revenue of about $946 million to $951 million, GAAP diluted EPS of about $0.10 to $0.11) in a separate 8-K.
• Q3 2025 was a net loss of $0.34 per diluted share, including a $21.4 million litigation settlement accrual that Werner excludes from its non-GAAP figures.

Source: Werner Enterprises Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Werner Enterprises splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Werner Enterprises's Truckload Transportation Services revenue was $714 million in Q3 2026, up 37% from $520 million in Q3 2025, 75% of total revenue.
• Werner Enterprises's Werner Logistics revenue was $216 million in Q3 2026, down 7% from $233 million in Q3 2025, 23% of total revenue.
• Werner Enterprises's Other revenue was $20.1 million in Q3 2026, up 7% from $18.7 million in Q3 2025, 2% of total revenue.
• Werner Enterprises's Corporate revenue was $0.6 million in Q3 2026, flat on $0.6 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Werner gives operating guidance in a table, not revenue or EPS guidance. Each quoted row reads: prior guidance (as of 7/28/26), actual through September 30, 2026, then current guidance (as of 10/27/26).

In its Q3 2026 release, Werner Enterprises said:

“TTS average truck count growth 16% to 18% (2026 vs. 2025) 15.8% (YTD26 vs. 2025) 16% to 17% (2026 vs. 2025)”

“Dedicated RPTPW (1) growth 3% to 5% (2026 vs. 2025) 4.0% (YTD26 vs. YTD25) 4% to 5% (2026 vs. 2025)”

“Net capital expenditures $215M to $250M (2026) $29M (YTD) $190M to $205M (2026)”

“Effective income tax rate (GAAP) 25.5% to 26.5% (2026) 17.0% (YTD) 24.5% to 25.5% (2026)”

Source: Werner Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the WERN forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP operating revenues and diluted earnings (loss) per share, each as first reported in that quarter's release, converted from thousands to millions. Negative figures are losses per share.

We do not hold a confirmed date for Werner Enterprises's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Werner Enterprises' Q3 2026 revenue of $950.5 million was mostly Truckload Transportation Services (TTS), at $714.0 million, with Werner Logistics at $215.8 million. TTS revenue rose $194.2 million, or 37%, while Werner Logistics fell $16.8 million, or 7%. Of the TTS increase, $65.8 million came from higher fuel surcharge revenues, which totaled $125.2 million. (Werner Q3 2026 release, Oct 27, 2026)

The FirstFleet acquisition, completed on January 27, 2026, drove much of the growth. The 10-Q says FirstFleet contributed $170.7 million of revenue in the quarter. Dedicated now dominates the fleet: 7,090 dedicated trucks at quarter end, or 81% of the TTS fleet, against 4,965, or 67%, a year earlier, and Dedicated trucking revenues net of fuel surcharge rose 51.8% to $443.8 million. (Werner Q3 2026 release, Oct 27, 2026; Werner Form 10-Q, Q3 2026, Nov 9, 2026)

One-Way Truckload shrank but earned more per truck. Its average trucks in service fell 36.6% to 1,673, while average revenues per truck per week rose 34.3% to $6,244 on a 22.4% gain in miles per truck and a 9.7% rise in revenue per total mile, net of fuel surcharge. (Werner Q3 2026 release, Oct 27, 2026)

In Werner Logistics, Truckload Logistics (70% of the segment) fell 13% as shipments dropped 40%, partly offset by a 44% rise in revenue per shipment. Intermodal rose 7% and Final Mile 18%. Werner's customer base is concentrated: its largest customer, Dollar General, accounted for 11% of total revenues in 2025, and the top 10 customers for 50%. (Werner Q3 2026 release, Oct 27, 2026; Werner Form 10-K, 2025, Feb 26, 2026)

Werner Enterprises earned $0.11 per diluted share on a GAAP basis in Q3 2026, against a loss of $0.34 a year earlier, and $0.16 on its non-GAAP adjusted basis. The non-GAAP figure adds back $0.03 of intangible asset amortization and $0.03 of acquisition expenses, less a $0.01 tax effect. The year-ago GAAP loss included a $21.4 million litigation settlement accrual, worth $0.36 per share. (Werner Q3 2026 release, Oct 27, 2026)

Fuel weighed on costs: fuel expense rose to $130.3 million from $64.1 million, and the 10-Q says average diesel prices were $1.92 per gallon higher than a year earlier. Gains on sales of property and equipment added $8.0 million, or $0.10 per share, against $4.5 million, or $0.06, a year earlier. (Werner Q3 2026 release, Oct 27, 2026; Werner Form 10-Q, Q3 2026, Nov 9, 2026)

The effective income tax rate was 13.2%, against 3.8% a year earlier, which Werner attributed to differences in discrete income tax items. Diluted shares outstanding were 60,305 thousand. Werner did not repurchase shares in the quarter and had 5.0 million shares remaining under its authorization. (Werner Q3 2026 release, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Werner Enterprises does not give revenue or EPS guidance. Its release carries a table of operating assumptions for 2026, which it updated on October 27, 2026: TTS average truck count growth of 16% to 17% (previously 16% to 18%), Dedicated revenue per truck per week growth of 4% to 5% (previously 3% to 5%), One-Way Truckload revenue per total mile growth of 10% to 13% for Q4 2026, net capital expenditures of $190M to $205M (previously $215M to $250M) and a GAAP effective tax rate of 24.5% to 25.5%. (Werner Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Werner Enterprises, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Werner Enterprises's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning WERN is on is WERN a buy or a sell?, what analysts expect next is on the WERN forecast, and what the company does is on the Werner Enterprises (WERN) stock page.

Every number on this page can be traced to a document Werner Enterprises published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.