Werner (WERN) Q4 Earnings Miss: Net Loss 46 Cps, Revenue Down 2%

Werner Enterprises (NASDAQ: WERN) reported a fourth-quarter net loss of $27.8 million, or 46 cents per share, after restructuring and impairment charges of $44.2 million ($42.7 million noncash). Adjusted net income was $3.3 million, or 5 cents per share, 5 cents below consensus and 3 cents lower year over year. Revenue fell 2% to $738 million, with total truckload revenue down 3% to $513 million and an adjusted operating ratio of 97.2% (30 bps worse y/y). One-way revenue per total mile declined 8% despite 2% gains in miles per truck per week; dedicated revenue rose 1%. The company expects one-way revenue per total mile to be flat to up 3% in H1 2026 and dedicated revenue per truck per week to be down 1%–2% for full-year 2026. A results call is scheduled for Thursday, February 6, 2026, at 5:00 p.m. EST.