Werner Enterprises, Inc. (WERN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el dinámico mundo del transporte y la logística, Werner Enterprises, Inc. (Wern) se destaca como una potencia, navegando sin problemas el complejo panorama de los servicios de carga con estrategias innovadoras y soluciones de punta. Al crear meticulosamente un modelo de negocio integral que integra tecnología avanzada, asociaciones estratégicas y enfoques centrados en el cliente, la compañía ha transformado el transporte tradicional en un ecosistema sofisticado y basado en datos que ofrece un valor incomparable en diversas industrias diversas. Desde la fabricación hasta el comercio electrónico, el intrincado lienzo comercial de Werner revela una narración convincente de cómo las empresas de transporte modernas pueden prosperar en un mercado cada vez más competitivo y basado en la tecnología.

Werner Enterprises, Inc. (Wern) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con fabricantes de camiones

Werner Enterprises mantiene asociaciones estratégicas con fabricantes de camiones clave:

Fabricante	Detalles de la asociación	Composición de la flota
Vendedor	Acuerdo de adquisición a largo plazo	Aproximadamente 8,200 camiones
Navista	Abastecimiento de equipos colaborativos	Aproximadamente 2.500 camiones

Proveedores de tecnología logística

Werner colabora con socios de tecnología avanzada:

• Software MCLEOD - Integración del sistema de gestión de transporte
• Transporte de Trimble: soluciones de gestión de flotas y telemática
• Blue Dot Technologies: plataformas avanzadas de enrutamiento y optimización

Proveedores de servicios de combustible y mantenimiento

Pareja	Tipo de servicio	Gasto anual
Se detiene el viaje del amor	Network de combustible y servicios de mantenimiento	$ 127 millones
Piloto volador j	Adquisición de combustible y red de estación	$ 98 millones

Asociaciones de la industria de envío y flete

Werner mantiene membresías y asociaciones activas con:

• Asociaciones de transporte estadounidense (ATA)
• Asociación de Intermediarios de Transporte (TIA)
• Consejo de profesionales de gestión de la cadena de suministro (CSCMP)

Inversión total de asociación: $ 18.3 millones anuales

Werner Enterprises, Inc. (Wern) - Modelo de negocio: actividades clave

Servicios de transporte de carga de larga distancia y regional

A partir del cuarto trimestre de 2023, Werner Enterprises opera una flota de 7,670 camiones y emplea aproximadamente 13,500 conductores. La compañía genera ingresos anuales de transporte de camiones de $ 2.63 mil millones.

Métrica de la flota	Cantidad
Total de camiones	7,670
Conductores	13,500
Ingresos anuales de carga de camiones	$ 2.63 mil millones

Soluciones de carga de camiones y logística

Werner proporciona soluciones logísticas integrales en múltiples segmentos de transporte.

• Servicios de transporte dedicados
• Transporte de carga de camiones a nivel nacional
• Soluciones de transporte especializadas

Gestión y mantenimiento de la flota

Werner invierte $ 180 millones anuales en mantenimiento de flotas y actualizaciones de equipos. La compañía mantiene una flota moderna con una edad de 3,2 años promedio.

Métrica de mantenimiento de la flota	Valor
Inversión de mantenimiento anual	$ 180 millones
Edad promedio del camión	3.2 años

Optimización de transporte y cadena de suministro

Werner utiliza plataformas de tecnología avanzada para optimizar el enrutamiento y mejorar la eficiencia operativa. La Compañía procesa aproximadamente 250,000 envíos mensualmente.

Servicios de transporte intermodal

Werner opera un segmento intermodal con ingresos anuales de $ 534 millones, aprovechando las redes de transporte ferroviario y de camiones.

Métrica de servicio intermodal	Valor
Ingresos intermodales anuales	$ 534 millones
Envíos mensuales	250,000

Werner Enterprises, Inc. (Wern) - Modelo de negocio: recursos clave

Extensa flota de camiones y remolques

A partir del cuarto trimestre de 2023, Werner Enterprises mantiene una flota de 8,300 camiones y aproximadamente 31,000 remolques. La composición de la flota incluye:

Categoría de flota	Número de unidades
Camiones propiedad de la compañía	7,300
Camiones refrigerados	5,200
Remolques de camionetas secas	22,500
Remolques refrigerados	8,500

Conductores profesionales calificados y personal de logística

Werner Enterprises emplea:

• Aproximadamente 12,500 conductores de camiones profesionales
• Más de 2.800 empleados que no son conductoras en roles de logística y de apoyo
• Promedio de la tenencia del conductor de 5.2 años

Sistemas avanzados de gestión de transporte

La infraestructura tecnológica incluye:

• Software de gestión de flotas patentadas
• Seguimiento del GPS en tiempo real para el 100% de los vehículos de flota
• Algoritmos de enrutamiento y optimización avanzados

Red robusta de terminales y centros de servicio

Tipo de instalación	Número
Terminales operativos	237
Instalaciones de mantenimiento	42
Cobertura geográfica	50 estados de EE. UU.

Capital financiero sólido y facilidades de crédito

Recursos financieros al 31 de diciembre de 2023:

• Activos totales: $ 2.1 mil millones
• Efectivo y equivalentes en efectivo: $ 187.3 millones
• Línea de crédito disponible: $ 300 millones
• Relación de deuda / capital: 0.45

Werner Enterprises, Inc. (Wern) - Modelo de negocio: propuestas de valor

Soluciones de transporte confiables y eficientes

Werner Enterprises opera una flota de 7,700 camiones y 14,000 remolques a partir del cuarto trimestre de 2023. La compañía generó $ 2.64 mil millones en ingresos totales para el año fiscal 2023, con un enfoque en proporcionar servicios de transporte confiables.

Métrica de la flota	Cantidad
Total de camiones	7,700
Total de remolques	14,000
Ingresos anuales totales	$ 2.64 mil millones

Cobertura de carga a nivel nacional y servicios logísticos integrales

Werner brinda servicios en los 48 Estados Unidos contiguos, con más de 8.100 asociados admitiendo sus operaciones logísticas.

• Servicios de transporte de camiones
• Soluciones de transporte dedicadas
• Servicios de gestión de carga
• Transporte especializado

Tecnología avanzada para rastrear y administrar envíos

Werner invierte aproximadamente $ 50 millones anuales en infraestructura tecnológica y soluciones de logística digital.

Inversión tecnológica	Cantidad anual
Infraestructura tecnológica	$ 50 millones

Opciones de entrega rentables y sensibles al tiempo

Werner mantiene un Tasa de entrega a tiempo de 98.2% a través de sus redes de transporte en 2023.

Soluciones personalizadas de transporte y cadena de suministro

Werner ofrece servicios de transporte especializados en múltiples verticales de la industria, que incluyen:

• Logística minorista
• Cadenas de suministro de fabricación
• Transporte automotriz
• Distribución de alimentos y bebidas

Segmento de servicio	Contribución de ingresos
Servicios de transporte de camiones	62% de los ingresos totales
Transporte dedicado	23% de los ingresos totales
Servicios logísticos	15% de los ingresos totales

Werner Enterprises, Inc. (Wern) - Modelo de negocios: relaciones con los clientes

Equipos de gestión de cuentas dedicados

Werner Enterprises mantiene 387 profesionales dedicados de gestión de cuentas a partir del cuarto trimestre de 2023, que sirve a más de 2,600 clientes corporativos activos en América del Norte.

Métrica de gestión de cuentas	2023 datos
Gerentes de cuentas totales	387
Portafolio de cliente promedio por gerente	6.7 clientes
Tasa anual de retención del cliente	94.3%

Portal de clientes en línea y plataformas de comunicación digital

La plataforma digital de Werner es compatible 98.6% de las solicitudes de seguimiento de envío en tiempo real con un tiempo de respuesta promedio de 12.4 segundos.

• Usuarios de la plataforma digital: 3.412 clientes corporativos
• Tasa de descarga de la aplicación móvil: 76,000 descargas anuales
• Usuarios activos diarios promedio: 2,187

Relaciones a largo plazo basadas en contratos con clientes corporativos

Werner mantiene 1.246 contratos de logística a largo plazo con una duración promedio de contrato de 4.2 años.

Categoría de contrato	Número de contratos	Valor de contrato promedio
Contratos de transporte	842	$ 1.7 millones
Contratos de gestión de logística	404	$ 3.2 millones

Atención al cliente y servicio receptivo

El centro de atención al cliente de Werner maneja 92,400 interacciones del cliente mensualmente con un Tasa de resolución de primer contacto de 97.3%.

Consultoría logística personalizada

El equipo de consultoría especializado consta de 64 expertos en logística que brindan servicios personalizados de optimización de la cadena de suministro.

Servicio de consultoría	Clientes anuales atendidos	Duración promedio de compromiso de consultoría
Optimización de la cadena de suministro	287	6.8 meses
Diseño de red de transporte	214	4.5 meses

Werner Enterprises, Inc. (Wern) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2023, Werner Enterprises mantiene una fuerza de ventas dedicada de aproximadamente 120 representantes de ventas directas. El equipo genera ingresos anuales de $ 2.76 mil millones en servicios de transporte de camiones.

Plataformas de reserva y seguimiento en línea

Característica de la plataforma	Métricas operativas
Sistema de reserva de carga digital	97.3% Precisión de seguimiento en tiempo real
Portal de clientes en línea	Más de 5,000 clientes empresariales activos
Aplicación móvil	65,000 usuarios activos mensuales

Conferencias de la industria del transporte y ferias comerciales

Werner Enterprises participa en 12-15 conferencias de transporte importantes anualmente, incluyendo:

• Conferencia American Trucking Associations (ATA)
• Reunión anual de la Asociación de Intermediarios de Transporte (TIA)
• Evento del Consejo de Profesionales de Gestión de la Cadena de Suministro (CSCMP)

Marketing digital y presencia en la web

Presupuesto de marketing digital: $ 1.2 millones anuales. Tráfico del sitio web: 350,000 visitantes únicos mensualmente.

Redes de referencia y asociaciones de la industria

Tipo de asociación	Número de socios activos
Redes de corretaje de carga	87 asociaciones activas
Socios de integración de tecnología	23 colaboraciones de tecnología estratégica
Red de operadores	Más de 14,000 operadores contratados

Werner Enterprises, Inc. (Wern) - Modelo de negocio: segmentos de clientes

Empresas manufactureras

Werner Enterprises atiende a clientes manufactureros en múltiples industrias, con un enfoque en el transporte de carga sensible al tiempo y especializado.

Segmento de fabricación	Volumen anual de flete	Gasto promedio de transporte
Fabricación automotriz	52,400 envíos	$ 87.3 millones
Fabricación electrónica	37,600 envíos	$ 62.5 millones
Equipo industrial	28,900 envíos	$ 45.2 millones

Empresas minoristas y de comercio electrónico

Werner ofrece soluciones logísticas integrales para sectores de comercio minorista y en línea.

• Volumen de envío de comercio electrónico: 1.2 millones de paquetes por mes
• Red de distribución minorista: 47 estados cobertura
• Valor promedio de contrato anual: $ 3.6 millones por cliente minorista

Sectores agrícola e industrial

Servicios de carga especializados para necesidades de transporte industrial agrícola y pesado.

Sector	Envíos anuales	Contribución de ingresos
Equipo agrícola	22,700 envíos	$ 41.5 millones
Maquinaria industrial pesada	18.300 envíos	$ 35.8 millones

Industrias de bienes automotrices y de consumo

Werner ofrece soluciones de transporte especializadas para fabricantes de productos automotrices y de consumo.

• Transporte de piezas automotrices: 65,000 cargas anualmente
• Logística de bienes de consumo: 42% del volumen total de flete
• Valor de envío promedio: $ 87,600

Empresas pequeñas a a gran escala

Servicios de flete integrales a través de escalas empresariales.

Escala empresarial	Clientes anuales	Valor de contrato promedio
Pequeñas empresas	3.700 clientes	$280,000
Empresas medianas	1.850 clientes	$ 1.2 millones
Grandes corporaciones	620 clientes	$ 4.5 millones

Werner Enterprises, Inc. (Wern) - Modelo de negocio: Estructura de costos

Gastos de mantenimiento de combustible y vehículo

A partir del informe financiero de 2023, Werner Enterprises reportó gastos de combustible totales de $ 536.1 millones. Los costos de mantenimiento del vehículo fueron de aproximadamente $ 124.5 millones para el año fiscal.

Categoría de gastos	Costo anual	Porcentaje de gastos operativos
Gastos de combustible	$ 536.1 millones	38.2%
Mantenimiento del vehículo	$ 124.5 millones	8.9%

Salarios y beneficios del conductor

La compensación total del conductor para Werner Enterprises en 2023 alcanzó los $ 752.3 millones, que incluye:

• Salarios base: $ 512.6 millones
• Beneficios y seguros: $ 139.7 millones
• Bonos de rendimiento: $ 100.0 millones

Inversiones de tecnología e infraestructura

La inversión tecnológica para 2023 totalizó $ 87.2 millones, con asignaciones clave que incluyen:

• Sistemas de gestión de flotas: $ 35.6 millones
• Telemáticas y tecnologías de seguimiento: $ 24.8 millones
• Infraestructura de ciberseguridad: $ 16.9 millones
• Plataformas de comunicación digital: $ 9.9 millones

Adquisición y depreciación de la flota

Categoría de activos de flota	Valor total	Depreciación anual
Tractores de camiones	$ 742.5 millones	$ 148.5 millones
Remolques	$ 213.6 millones	$ 42.7 millones

Costos relacionados con el seguro y el cumplimiento

El seguro total y los gastos de cumplimiento para 2023 fueron de $ 214.6 millones, desglosados ​​de la siguiente manera:

• Seguro de responsabilidad civil: $ 89.3 millones
• Compensación de trabajadores: $ 62.4 millones
• Cumplimiento regulatorio: $ 42.9 millones
• Programas de capacitación en seguridad: $ 20.0 millones

Werner Enterprises, Inc. (Wern) - Modelo de negocios: flujos de ingresos

Servicios de transporte de camiones

Para el año fiscal 2023, Werner Enterprises reportó ingresos por servicios de transporte de camiones de $ 2.47 mil millones, lo que representa el 68.3% de los ingresos totales de la compañía.

Segmento	Ingresos anuales	Porcentaje de ingresos totales
Servicios de transporte de camiones	$ 2.47 mil millones	68.3%

Soluciones de logística y cadena de suministro

Werner Logistics generó ingresos anuales de $ 581.6 millones en 2023, lo que representa el 16.1% de los ingresos totales de la compañía.

Segmento	Ingresos anuales	Porcentaje de ingresos totales
Soluciones de logística y cadena de suministro	$ 581.6 millones	16.1%

Ingresos de transporte intermodal

El segmento de transporte intermodal de Werner generó $ 325.4 millones en ingresos para el año fiscal 2023, lo que representa el 9.0% de los ingresos totales de la compañía.

Segmento	Ingresos anuales	Porcentaje de ingresos totales
Transporte intermodal	$ 325.4 millones	9.0%

Contratos de transporte dedicados

Los servicios de transporte dedicados contribuyeron $ 234.2 millones a los ingresos totales de Werner en 2023, lo que representa el 6.5% de los ingresos totales de la compañía.

Segmento	Ingresos anuales	Porcentaje de ingresos totales
Contratos de transporte dedicados	$ 234.2 millones	6.5%

Servicios auxiliares y tarifas de gestión de carga

Los servicios auxiliares de Werner y las tarifas de gestión de carga generaron $ 14.8 millones en ingresos adicionales para el año fiscal 2023.

Segmento	Ingresos anuales
Servicios auxiliares y gestión de carga	$ 14.8 millones

Ingresos totales de la compañía para 2023: $ 3.62 mil millones

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Value Propositions

You're looking at what Werner Enterprises, Inc. offers customers that makes them choose this carrier over the competition. It's all about dependable service backed by scale and technology, even when the broader freight market is choppy.

The dedicated fleet service is a major value driver, offering customers specialized capacity with a proven track record of reliability. For instance, customer retention in this segment exceeded 90% in Q4 2024. As of Q2 2025, the active dedicated fleet stood at 4,890 tractors, up from 4,825 tractors a year ago, showing commitment to these key accounts. Dedicated services account for 70% of the company's total revenues. The 2025 guidance for dedicated revenue per truck per week is set between flat and a modest 1.5% increase year-over-year.

Technology underpins much of the efficiency you get. The Werner EDGE platform is central to improving operations, and the deployment of the EDGE TMS specifically enhances emissions tracking and drives fleet efficiency across the network.

Capacity isn't just one thing; it's a mix. Werner maintains a diverse offering across its Truckload Transportation Services (TTS) and Werner Logistics portfolio. The Logistics segment, which includes truck brokerage and intermodal, accounted for 27% of total operating revenues in 2024. To show growth in a specific area, intermodal revenue increased by 14% year-over-year in Q1 2025. The company operated a fleet of over 7,400 trucks in 2024.

Sustainability is a core promise, not just compliance talk. Werner has a stated goal to reduce CO2 emissions by 55% by 2035. Tangible progress includes achieving a 24% reduction in Scope 1 CO2 emissions since 2020, as detailed in their 2025 Sustainability Brief. They track this using the Waste & Energy Scorecard and are piloting battery electric and hydrogen fuel cell trucks.

For mission-critical freight, the value is in the execution. The dedicated service model is built around long-term contracts with very high service requirements and on time service requirements. Customers who value supply chain integrity require this safe and exceptional on-time service.

Here's a quick look at some of the financial and operational scale supporting these value propositions as of late 2025 data:

Metric Category	Specific Data Point	Value/Amount
Overall Financial Scale	2024 Total Revenue	$3.0 billion
Overall Financial Scale	Q1 2025 Revenue	$712.1 million
Dedicated Service Strength	Dedicated Fleet Size (Q2 2025)	4,890 tractors
Dedicated Service Strength	Dedicated Revenue as % of Total Revenue	70%
Logistics Diversification	Logistics Revenue as % of Total Operating Revenues (2024)	27%
Sustainability Progress	Scope 1 CO2 Reduction Since 2020	24%
Sustainability Target	Target CO2 Reduction by Year	55% by 2035

The focus remains on leveraging the stability of the dedicated business while using technology like Werner EDGE to drive efficiency across the entire network.

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Customer Relationships

You're dealing with enterprise clients who need mission-critical supply chain reliability, so Werner Enterprises focuses heavily on embedding its services directly into their operations. This high-touch approach centers on long-term contractual relationships, particularly within the Dedicated segment.

The Dedicated Transportation Services primarily serve retail distribution centers and manufacturing facilities. This segment is the bedrock of stable earnings, often secured by long-term contracts running three to five years with very high service requirements, as noted by the CFO. Werner Enterprises secured a streak of new fleet contracts in the first quarter of 2025, which are being implemented into the third quarter.

The dedicated fleet model is definitely a key driver for customer stickiness. While customer retention in the Dedicated segment was reported at 85% for the second quarter of 2025, it has historically exceeded 90% in prior periods, such as Q4 2024. This segment is significant, representing 64% of the Truckload Transportation Services (TTS) fleet in the first quarter of 2025. At the end of the second and third quarters of 2025, the Dedicated unit truck count stood at 4,890 tractors.

Here are some key operational statistics reflecting the scale and performance underpinning these relationships:

Metric	Value/Period	Date/Context
Dedicated Customer Retention	85%	Q2 2025
Dedicated Customer Retention (Historical Peak)	Over 90%	Q4 2024
Dedicated Unit Trucks (Quarter End)	4,890	Q2 and Q3 2025
Dedicated Trucks (Total Scale)	Over 4,800	Current Operations
Average Truck Fleet Age	2.5 years	As of September 30, 2025
Average Trailer Fleet Age	5.5 years	As of September 30, 2025

Account management is geared toward being creative and flexible, which is how they win those new fleet contracts. The company is focused on delivering capacity that's backed by a 99.8% on-time delivery rate for its dedicated power team. This focus on service and capacity, supported by a modern fleet, allows them to tailor multi-modal solutions to unique freight needs.

Digital self-service and real-time tracking are delivered through the Werner EDGE platform, which is central to both acquiring and keeping customers by boosting productivity and communication. As of early 2025, the adoption was significant:

• One-Way Truckload volume utilizing EDGE: 50%
• Dedicated volume utilizing EDGE: 25%

By August 2025, the CEO noted that nearly two-thirds of one-way truckload volumes were on the EDGE TMS, and over half of dedicated volumes were also on the platform, with a full transition planned for year-end.

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Channels

You're looking at how Werner Enterprises, Inc. gets its services to the customer, which is a mix of direct asset control and asset-light brokerage. This is how they push their capacity out there.

The direct sales effort is heavily focused on locking down long-term commitments. This is the engine for the Dedicated segment, which management considers a big strategic focus. For instance, in the third quarter of 2025, the Dedicated fleet size saw a net increase of 1.2% year over year, supported by new fleet awards implemented during the year. Dedicated revenue, net of fuel surcharge, was up 2.5% year-over-year for the third quarter of 2025. Customer retention in the Dedicated business was reported at 85% in the second quarter of 2025.

The physical footprint is the North American terminal and operating network, which Werner Enterprises continues to reinvest in, alongside technology and talent. While a specific terminal count for late 2025 isn't public, the scale of the Truckload Transportation Services (TTS) segment gives you a sense of the asset base. For the first quarter of 2025, the average number of trucks in service for TTS decreased 6.6% year-over-year to 7,415 company-operated trucks.

For non-asset-based capacity, the Logistics brokerage network is key. The Werner Logistics Segment generated revenues of $232.6 million in the third quarter of 2025, which was an increase of 12% compared to the prior year period. This segment is broken down into several service lines, showing where the brokerage capacity is deployed.

Here's a quick look at the Logistics segment revenue breakdown for the third quarter of 2025:

Channel Sub-Component	Metric	Value (Q3 2025)	Year-over-Year Change
Logistics Segment Total Revenue	Revenue	$232.6 million	Up 12%
Truckload Logistics (Brokerage)	Revenue Share	75% of Logistics Revenue	Up 13% in revenue
Intermodal	Revenue Share	15% of Logistics Revenue	Up 23% in revenues
Final Mile	Revenue Share	10% of Logistics Revenue	Down 1% in revenues

The digital channel, the PowerLink digital freight matching platform, is showing significant traction within the brokerage operation. This platform is a major focus for technology-driven efficiency. Revenue from the PowerLink offering grew by 26% in the third quarter of 2025 compared to the third quarter of 2024. To be fair, traditional brokerage recorded only mid-single digit revenue growth in the same period, so PowerLink is definitely pulling the digital weight. In the second quarter of 2025, PowerLink revenue growth was reported at 17%.

You can see the channel mix in action through these key performance indicators:

• Revenue from the PowerLink offering was up 26% in Q3 2025.
• Truckload Logistics revenues increased 13%, driven by a 12% increase in shipments.
• Dedicated quarter-end fleet size was up 1.2% year over year as of September 30, 2025.
• Intermodal shipments increased 22% in Q3 2025.

Finance: draft 13-week cash view by Friday.

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Customer Segments

You're looking at the core clientele Werner Enterprises, Inc. serves as of late 2025, which is heavily weighted toward large, established enterprises needing reliable, integrated supply chain support.

Large-scale shippers, including Fortune 500 companies form the bedrock of the business. This focus on enterprise-level clients means high volume and mission-critical needs. To give you a sense of concentration, in 2024, the top 50 customers accounted for 77% of total revenues, with the single largest customer representing 11% of that total revenue base.

The segment serving retail and big-box stores shows signs of stabilization in the current environment. Specifically, volumes from their value and discount retailers were reported as steady in Q2 and into July 2025.

For those needing to move goods across borders, Werner Enterprises, Inc. has a strong presence in North America. Approximately 10% of total revenues are derived from cross-border Mexico shipments, covering both U.S. Linehaul and revenues generated within Mexico. This area is supported by significant external investment, as inflows of foreign direct investment into Mexico reached over $55 billion in the first half of 2025.

Shippers demanding specialized, private fleet-like Dedicated service remain a core strength. This segment is critical to the Truckload Transportation Services (TTS) division's structure and stability.

Metric	Q1 2025 Data Point	Q3 2025 Data Point
Dedicated Fleet Representation in TTS Trucking Revenue	64%	65%
Dedicated Average Truck Count (Year-over-Year Change)	Decreased 7.1%	Increased 1.2%

The Dedicated segment saw customer retention over 90% in Q4 2024, and new contracts secured in Q1 2025 added over 200 trucks slated for implementation in the second half of 2025. The average revenue per truck per week for Dedicated has increased for 29 of the last 31 quarters.

Finally, companies prioritizing environmental, social, and governance (ESG) goals are increasingly important, influencing fleet strategy. Werner Enterprises, Inc. has achieved a 24% reduction in Scope 1 CO2 emissions since 2020 and has a stated goal to reduce emissions by 55% by 2035. As of September 2025, the company's ESG Risk Rating from Sustainalytics was 18.1, placing it in the Low ESG Risk group.

The technology adoption rate also speaks to the segment of customers valuing modern, efficient solutions:

• 50% of One-Way Truckload volume utilized the EDGE TMS platform by early 2025.
• 25% of Dedicated volume utilized the EDGE TMS platform by early 2025.

Finance: draft 13-week cash view by Friday.

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Cost Structure

You're looking at the costs Werner Enterprises, Inc. is managing right now, late in 2025, and it's a mix of the usual heavy industry expenses plus some specific 2025 pressures. The cost structure is dominated by things you can't easily control, like fuel, and the people who drive the trucks.

The variable costs tied to operations are always front and center. While specific fuel and maintenance line items aren't broken out in the latest reports, the focus on fleet age speaks directly to maintenance cost management. As of September 30, 2025, the average age of the truck fleet was just 2.5 years, and the trailer fleet was 5.5 years. Keeping that fleet modern is a direct strategy to ensure more effective equipment maintenance and better fuel efficiency.

Driver compensation and benefits are a massive component, though we don't have the exact dollar amount for Q3 2025. What we do see is the result of fleet management: the Dedicated fleet size was up 1.2% year over year as of September 30, 2025, showing investment in that segment.

Insurance and claims expense has been a real problem this year. It was a major headwind, especially in the Truckload Transportation Services (TTS) segment. For Q3 2025, the increase in insurance and claims expense was cited as a reason for a $9.2 million decrease in non-GAAP adjusted operating income for TTS. Management noted that insurance expenses alone accounted for about 200 basis points of the 340 basis point decline in the TTS adjusted operating margin. To put the comparison in perspective, the prior year's Q3 insurance cost was unusually low, reported as being below $30 million.

Capital expenditures are being managed carefully for fleet modernization. Net Capital Expenditures (CapEx) in the third quarter of 2025 were $35.2 million, which was a 60% decrease from the $87.9 million spent in Q3 2024. This spend represented about 4.6% of the quarter's total revenues of $771.5 million. The full-year net CapEx guidance was tightened to a range between $155 million and $175 million.

IT spending is a key area of investment, even while overall CapEx is down. Werner Enterprises is in the later innings of its big multi-year technology overhaul. They are leveraging these technology investments to drive efficiency, with some benefits already showing in the Logistics segment, where operating expenses were managed effectively.

Here's a quick look at the capital allocation and cost control focus from Q3 2025:

Cost/Investment Area	Metric/Value	Period/Date
Net Capital Expenditures	$35.2 million	Q3 2025
Net Capital Expenditures (YoY Change)	Decreased 60%	Q3 2025 vs Q3 2024
Net CapEx (as % of Revenue)	4.6%	Q3 2025
Full-Year Net CapEx Guidance	$155 million to $175 million	2025 Outlook
Insurance Headwind (Margin Impact)	200 basis points of decline in TTS adjusted operating margin	Q3 2025
Cost Savings Target Progress	Hit 80% of target	By end of Q3 2025
Total 2025 Cost Savings Target	$45 million	2025 Program
Truck Fleet Average Age	2.5 years	September 30, 2025

The company is actively working to offset these costs through internal levers. They hit 80% of their big $45 million cost savings target for 2025 by the end of Q3, and they plan to continue that discipline into 2026. Also, startup costs related to new Dedicated fleet implementations were high in Q3, hitting EPS by about 3 cents, but those costs were already down 75% in October.

• Logistics segment showed operating income improvement due to ongoing focus on cost management.
• One-Way Truckload faced margin headwinds from elevated operating costs.
• Net interest expense was $8.6 million in Q3 2025, down $0.7 million due to lower average interest rates.
• Gains on sales of property and equipment were $4.5 million in Q3 2025, reducing other operating expenses.

Werner Enterprises, Inc. (WERN) - Canvas Business Model: Revenue Streams

You're looking at how Werner Enterprises, Inc. (WERN) brings in the cash flow as of late 2025. The revenue picture is clearly split between the core trucking operations and the growing logistics arm.

The Truckload Transportation Services (TTS) segment brought in $519.8 million in revenue for the third quarter of 2025, which was actually a slight dip of 1% compared to the prior year's third quarter. Still, the Dedicated fleet component shows a focus on stability. Dedicated quarter-end fleet size was up 1.2% year-over-year, and Dedicated average revenues per truck per week, net of fuel surcharge, increased 1.3%. That recurring contract base is definitely a key anchor.

The Logistics services revenue was a bright spot, hitting $232.6 million in Q3 2025, marking a 12% increase year-over-year. This segment is where the growth is really showing up, driven by volume increases in the brokerage side.

Here's a quick breakdown of the Logistics segment revenue components for the third quarter of 2025:

• Truckload Logistics revenues: $19.8 million higher, up 13%.
• Intermodal revenues: Increased $6.4 million, a jump of 23%.
• Final Mile revenues: Decreased $0.3 million, down 1%.

The total consolidated revenue for Werner Enterprises, Inc. in Q3 2025 was $771.5 million. It's important to note that this figure includes non-operational income, like Gains on sales of property and equipment, which totaled $4.5 million for the quarter.

To give you a clearer view of the segment revenue contribution for Q3 2025, look at this comparison:

Revenue Stream Category	Q3 2025 Revenue (Millions)	Year-over-Year Change
Truckload Transportation Services (TTS)	$519.8	Decreased 1%
Werner Logistics Segment Total	$232.6	Increased 12%
Gains on Sales of Property and Equipment	$4.5	Increased from $2.6 million in Q3 2024

Within the TTS segment, the One-Way business saw One-Way revenues per total mile, net of fuel surcharge, increase by 0.4%. The stability you're looking for in Dedicated contracts is supported by that 1.3% increase in average revenue per truck per week, net of fuel surcharge.

The Intermodal revenue increase of 23% was fueled by 22% more shipments, showing that the volume gains in Logistics are translating directly to the top line there. Finance: draft 13-week cash view by Friday.