Werner Enterprises Inc., established in 1956, is a leading U.S.-based transportation and logistics provider specializing in truckload freight and dedicated contract carriage services. The company operates one of North America’s largest fleets with over 6,000 tractors and 16,000 trailers, augmented by cutting-edge technology solutions in logistics management. Led by CEO C. Timothy Ryan since 2016, Werner has secured a robust market position through efficient operations and strategic customer relationships. Ongoing investments in digital innovation and sustainable initiatives position the company for future growth.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
2,974,400
3,030,260
3,283,500
3,289,980
Cost of Sales
2,399,660
2,401,220
2,560,340
2,488,470
Gross Profit
574,733
629,037
723,162
801,510
Selling, General & Administrative Expenses
222,328
259,823
259,680
261,150
Depreciation & Amortization Expenses
286,321
290,405
299,509
279,923
Other Operating Expenses
54,427
12,661
(12,443)
(62,639)
Operating Profit
11,657
66,148
176,416
323,076
Interest and Investment Income
5,634
6,898
6,701
1,731
Interest Expense
(39,053)
(39,212)
(33,535)
(11,828)
Non-Operating Income
973
8,648
(1,801)
11,807
Total Non-Operating Income
(32,446)
(23,666)
(28,635)
1,710
Income Before Provision for Income Taxes
(20,789)
42,482
147,781
324,786
Provision for Income Taxes
2,209
8,912
35,491
79,206
Consolidated Net Income
(22,998)
33,570
112,290
245,580
Net Income Attributable to Minority Interests and Other
(8,599)
(663)
(92)
4,324
Net Income Attributable to Common Shareholders
(14,399)
34,233
112,382
241,256
Basic EPS
-0.24
0.55
1.77
3.76
Diluted EPS
-0.24
0.55
1.76
3.74
Basic Weighted Average Shares Outstanding
60,607
62,450
63,374
64,125
Diluted Weighted Average Shares Outstanding
60,607
62,662
63,718
64,579
Shares Outstanding
59,869
61,850
63,445
63,223
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
59,922
40,752
61,723
107,240
Total Cash and Cash Equivalents
59,922
40,752
61,723
107,240
Accounts Receivable
394,933
391,684
444,944
518,815
Other Receivables
20,398
26,137
25,479
29,875
Total Trade Receivables
415,331
417,821
470,423
548,690
Inventories
12,104
14,183
18,077
14,527
Other Current Assets
125,492
69,017
84,405
92,158
Total Current Assets
612,849
541,773
634,628
762,615
Net Property, Plant & Equipment
1,790,500
1,934,240
1,972,960
1,825,280
Net Intangible Assets
44,603
76,407
86,477
81,502
Goodwill
129,104
129,104
129,104
132,717
Other Long-Term Assets
311,614
370,717
334,771
295,145
Total Assets
2,888,670
3,052,240
3,157,940
3,097,260
Accounts Payable
95,084
112,429
135,990
124,483
Accrued Expenses
167,468
167,015
162,625
148,771
Current Portion of Long-Term Debt
—
20,000
2,500
6,250
Other Current Liabilities
52,232
56,305
29,470
30,016
Total Current Liabilities
314,784
355,749
330,585
309,520
Long-Term Debt
752,000
630,000
646,250
687,500
Other Long-Term Liabilities
430,885
572,612
614,155
617,901
Total Long-Term Liabilities
1,182,890
1,202,610
1,260,410
1,305,400
Total Liabilities
1,497,670
1,558,360
1,590,990
1,614,920
Common Stock
805
805
805
805
Treasury Stock
(671,051)
(617,100)
(551,061)
(551,588)
Additional Paid-in Capital
144,641
137,889
134,894
129,837
Accumulated Other Comprehensive Income
(16,075)
(18,437)
(9,684)
(11,292)
Retained Earnings
1,904,570
1,952,780
1,953,390
1,875,870
Total Common Shareholders' Equity
1,362,890
1,455,930
1,528,340
1,443,640
Minority Interests and Other
28,113
37,944
38,607
38,699
Total Shareholders' Equity
1,391,010
1,493,880
1,566,950
1,482,330
Total Liabilities and Shareholders' Equity
2,888,670
3,052,240
3,157,940
3,097,260
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(22,998)
33,570
112,290
245,580
Depreciation & Amortization
286,321
290,405
299,509
279,923
Share-Based Compensation Expense
10,691
8,856
11,943
12,486
Other Adjustments
(43,994)
(86,092)
(45,821)
(63,775)
Changes in Trade Receivables
(3,262)
53,260
73,921
3,174
Changes in Accounts Payable
(16,700)
(10,391)
3,288
(3,665)
Changes in Other Operating Activities
(28,228)
40,126
19,236
(25,012)
Cash from Operating Activities
181,830
329,734
474,366
448,711
Capital Expenditure
(250,364)
(413,799)
(598,785)
(507,252)
Proceeds from Sale of Property, Plant & Equipment
87,618
178,912
190,087
189,673
Purchases of Investments
(10,402)
(9,862)
(6,316)
(20,250)
Payments for Business Acquisitions
—
—
(188)
(184,118)
Other Investing Activities
1,576
3,301
(19,742)
7,614
Cash from Investing Activities
(171,572)
(241,448)
(434,944)
(514,333)
Issuance of Short-Term Debt
55,000
110,000
45,000
—
Repayments of Short-Term Debt
(58,000)
(92,500)
(50,000)
(3,750)
Net Issuance / (Repayments) of Short-Term Debt
(3,000)
17,500
(5,000)
(3,750)
Issuance of Long-Term Debt
425,000
205,000
50,000
370,000
Repayments of Long-Term Debt
(320,000)
(221,250)
(90,000)
(100,000)
Net Issuance / (Repayments) of Long-Term Debt
105,000
(16,250)
(40,000)
270,000
Repurchases of Common Shares
(55,553)
(67,069)
—
(110,400)
Net Issuance / (Repurchases) of Common Shares
(55,553)
(67,069)
—
(110,400)
Common Share Dividends Paid
(34,081)
(35,066)
(34,208)
(32,162)
Other Financing Activities
(5,069)
(4,831)
(7,859)
(5,654)
Cash from Financing Activities
7,297
(105,716)
(87,067)
118,034
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,615
(3,541)
2,128
632
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash