Werner Enterprises, Inc. (WERN): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des transports et de la logistique, Werner Enterprises, Inc. (WERN) se distingue comme une centrale, naviguant de manière transparente dans le paysage complexe des services de fret avec des stratégies innovantes et des solutions de pointe. En fabriquant méticuleusement un modèle commercial complet qui intègre des technologies avancées, des partenariats stratégiques et des approches centrées sur le client, la société a transformé le camionnage traditionnel en un écosystème sophistiqué et axé sur les données qui offre une valeur inégalée dans diverses industries. De la fabrication au commerce électronique, la toile commerciale complexe de Werner révèle un récit convaincant de la façon dont les entreprises de transport modernes peuvent prospérer sur un marché de plus en plus compétitif et axé sur la technologie.

Werner Enterprises, Inc. (WERN) - Modèle commercial: partenariats clés

Alliances stratégiques avec les fabricants de camions

Werner Enterprises entretient des partenariats stratégiques avec les fabricants de camions clés:

Fabricant	Détails du partenariat	Composition de la flotte
Freightliner	Contrat d'approvisionnement à long terme	Environ 8 200 camions
Navistar	Source des équipements collaboratifs	Environ 2 500 camions

Fournisseurs de technologies logistiques

Werner collabore avec des partenaires de technologie avancée:

• Software McLeod - Intégration du système de gestion des transports
• Trimble Transport - Fleet Management and Telematics Solutions
• Blue Dot Technologies - plates-formes de routage et d'optimisation avancées

Fournisseurs de services de carburant et de maintenance

Partenaire	Type de service	Dépenses annuelles
Les arrêts de voyage de l'amour	Réseau de réseau et de maintenance de carburant	127 millions de dollars
Pilote volant j	Approvisionnement en carburant et réseau de station	98 millions de dollars

Associations de l'industrie de l'expédition et du fret

Werner maintient des abonnements et des partenariats actifs avec:

• Associations de camionnage américaines (ATA)
• Association des intermédiaires de transport (TIA)
• Conseil des professionnels de la gestion de la chaîne d'approvisionnement (CSCMP)

Investissement total de partenariat: 18,3 millions de dollars par an

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: Activités clés

Services de transport de fret long-courrier et régional

Au quatrième trimestre 2023, Werner Enterprises exploite une flotte de 7 670 camions et emploie environ 13 500 conducteurs. La société génère des revenus annuels de transport de camions de 2,63 milliards de dollars.

Métrique de la flotte	Quantité
Camions totaux	7,670
Conducteurs	13,500
Revenus annuels de chargement de camions	2,63 milliards de dollars

Camion-charge et solutions logistiques

Werner fournit des solutions logistiques complètes sur plusieurs segments de transport.

• Services de transport dédiés
• Transport à l'échelle de camions à l'échelle nationale
• Solutions de transport spécialisées

Gestion et maintenance de la flotte

Werner investit 180 millions de dollars par an dans la maintenance des flotte et les mises à niveau de l'équipement. L'entreprise maintient une flotte moderne avec un âge moyen de 3,2 ans.

Métrique de maintenance de la flotte	Valeur
Investissement de maintenance annuelle	180 millions de dollars
Âge du camion moyen	3,2 ans

Transport et optimisation de la chaîne d'approvisionnement

Werner utilise des plateformes de technologie de pointe pour optimiser le routage et améliorer l'efficacité opérationnelle. La société traite environ 250 000 expéditions par mois.

Services de transport intermodal

Werner exploite un segment intermodal avec un chiffre d'affaires annuel de 534 millions de dollars, tirant parti des réseaux de transport ferroviaire et de camions.

Métrique de service intermodal	Valeur
Revenus intermodaux annuels	534 millions de dollars
Expéditions mensuelles	250,000

Werner Enterprises, Inc. (WERN) - Modèle commercial: Ressources clés

Une vaste flotte de camions et de remorques

Au quatrième trimestre 2023, Werner Enterprises maintient une flotte de 8 300 camions et environ 31 000 remorques. La composition de la flotte comprend:

Catégorie de flotte	Nombre d'unités
Camions appartenant à l'entreprise	7,300
Camions réfrigérés	5,200
Rands à camion sec	22,500
Remorques réfrigérées	8,500

Conducteurs professionnels qualifiés et personnel logistique

Werner Enterprises utilise:

• Environ 12 500 chauffeurs de camions professionnels
• Plus de 2 800 employés non entraînés dans les rôles de logistique et de soutien
• Puinage moyen du conducteur de 5,2 ans

Systèmes avancés de gestion des transports

L'infrastructure technologique comprend:

• Logiciel de gestion de la flotte propriétaire
• Suivi GPS en temps réel pour 100% des véhicules de flotte
• Algorithmes de routage et d'optimisation avancés

Réseau robuste de terminaux et centres de service

Type d'installation	Nombre
Terminaux opérationnels	237
Installations d'entretien	42
Couverture géographique	50 États américains

Capitaux financiers et de crédit financiers solides

Ressources financières au 31 décembre 2023:

• Actif total: 2,1 milliards de dollars
• Equivalents en espèces et en espèces: 187,3 millions de dollars
• Ligne de crédit disponible: 300 millions de dollars
• Ratio dette / fonds propres: 0,45

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: propositions de valeur

Solutions de transport fiables et efficaces

Werner Enterprises exploite une flotte de 7 700 camions et 14 000 remorques au 423. La société a généré 2,64 milliards de dollars de revenus totaux pour l'exercice 2023, en mettant l'accent sur la fourniture de services de transport fiables.

Métrique de la flotte	Quantité
Camions totaux	7,700
Randonnées totales	14,000
Revenu annuel total	2,64 milliards de dollars

Couverture de fret à l'échelle nationale et services logistiques complets

Werner fournit des services dans les 48 États-Unis contigus, avec Plus de 8 100 associés soutenir ses opérations logistiques.

• Services de transport de charges de camion
• Solutions de transport dédiées
• Services de gestion du fret
• Transport spécialisé

Technologie avancée pour le suivi et la gestion des expéditions

Werner investit environ 50 millions de dollars par an en infrastructure technologique et en solutions logistiques numériques.

Investissement technologique	Montant annuel
Infrastructure technologique	50 millions de dollars

Options de livraison rentables et sensibles au temps

Werner maintient un Taux de livraison à temps de 98,2% à travers ses réseaux de transport en 2023.

Solutions de transport et de chaîne d'approvisionnement personnalisées

Werner propose des services de transport spécialisés dans plusieurs secteurs verticaux de l'industrie, notamment:

• Logistique au détail
• Chaînes de fabrication
• Transport automobile
• Distribution des aliments et des boissons

Segment de service	Contribution des revenus
Services de transport de charges de camion	62% des revenus totaux
Transport dédié	23% des revenus totaux
Services logistiques	15% des revenus totaux

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: relations clients

Équipes de gestion des comptes dédiés

Werner Enterprises maintient 387 professionnels de la gestion des comptes dédiés au quatrième trimestre 2023, desservant plus de 2 600 clients d'entreprise actifs à travers l'Amérique du Nord.

Métrique de gestion du compte	2023 données
Total des gestionnaires de compte	387
Portfolio client moyen par gestionnaire	6.7 clients
Taux de rétention de la clientèle annuelle	94.3%

Portail client en ligne et plateformes de communication numérique

Prise en charge de la plate-forme numérique de Werner 98,6% des demandes de suivi des expéditions en temps réel avec un temps de réponse moyen de 12,4 secondes.

• Utilisateurs de la plate-forme numérique: 3 412 clients d'entreprise
• Taux de téléchargement des applications mobiles: 76 000 téléchargements annuels
• Utilisateurs actifs quotidiens moyens: 2 187

Relations à long terme basées sur les contrats avec les clients

Werner maintient 1 246 contrats logistiques à long terme avec une durée de contrat moyenne de 4,2 ans.

Catégorie de contrat	Nombre de contrats	Valeur du contrat moyen
Contrats de transport	842	1,7 million de dollars
Contrats de gestion de la logistique	404	3,2 millions de dollars

Support client et service réactif

Le centre de support client de Werner gère 92 400 interactions clients mensuellement avec un Taux de résolution de 97,3%.

Conseil logistique personnalisé

L'équipe de conseil spécialisée se compose de 64 experts en logistique fournissant des services d'optimisation de la chaîne d'approvisionnement personnalisés.

Service de conseil	Les clients annuels ont servi	Durée moyenne de l'engagement de consultation
Optimisation de la chaîne d'approvisionnement	287	6,8 mois
Conception du réseau de transport	214	4,5 mois

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: canaux

Équipe de vente directe

En 2023, Werner Enterprises maintient une force de vente dédiée d'environ 120 représentants des ventes directes. L'équipe génère un chiffre d'affaires annuel de 2,76 milliards de dollars de services de transport de chariots de camion.

Plateformes de réservation et de suivi en ligne

Fonctionnalité de plate-forme	Métriques opérationnelles
Système de réservation de fret numérique	97,3% de précision de suivi en temps réel
Portail client en ligne	Plus de 5 000 clients d'entreprise actifs
Application mobile	65 000 utilisateurs actifs mensuels

Conférences et salons commerciaux de l'industrie du transport

Werner Enterprises participe à 12 à 15 conférences de transport majeures chaque année, notamment:

• Conférence américaine des associations de camionnage (ATA)
• Assemblée annuelle de l'Association des intermédiaires de transport (TIA)
• Événement des professionnels de la gestion de la chaîne d'approvisionnement (CSCMP)

Marketing numérique et présence sur le Web

Budget de marketing numérique: 1,2 million de dollars par an. Trafic de site Web: 350 000 visiteurs uniques mensuellement.

Réseaux de référence et partenariats de l'industrie

Type de partenariat	Nombre de partenaires actifs
Réseaux de courtage de fret	87 partenariats actifs
Partenaires d'intégration technologique	23 collaborations technologiques stratégiques
Réseau opérateur	Plus de 14 000 transporteurs contractuels

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: segments de clientèle

Entreprises manufacturières

Werner Enterprises sert des clients manufacturiers dans plusieurs secteurs, en mettant l'accent sur le transport de fret sensible au temps et spécialisé.

Segment de fabrication	Volume annuel de fret	Dépenses moyennes de transport
Fabrication automobile	52 400 expéditions	87,3 millions de dollars
Fabrication d'électronique	37 600 expéditions	62,5 millions de dollars
Équipement industriel	28 900 expéditions	45,2 millions de dollars

Entreprises de vente au détail et de commerce électronique

Werner fournit des solutions logistiques complètes pour les secteurs de la vente au détail et du commerce en ligne.

• Volume d'expédition du commerce électronique: 1,2 million de colis par mois
• Réseau de distribution de détail: 47 États de la couverture des États
• Valeur du contrat annuel moyen: 3,6 millions de dollars par client de vente au détail

Secteurs agricoles et industriels

Services de fret spécialisés pour les besoins agricoles et lourds du transport industriel.

Secteur	Expéditions annuelles	Contribution des revenus
Équipement agricole	22 700 expéditions	41,5 millions de dollars
Machines industrielles lourdes	18 300 expéditions	35,8 millions de dollars

Industries des biens automobiles et des biens de consommation

Werner fournit des solutions de transport spécialisées aux fabricants de produits automobiles et de consommation.

• Transport des pièces automobiles: 65 000 charges par an
• Logistique des biens de consommation: 42% du volume total de fret
• Valeur moyenne de l'envoi: 87 600 $

Entreprises petites à grande échelle

Services de fret complets à travers les échelles d'entreprise.

Échelle d'entreprise	Clients annuels	Valeur du contrat moyen
Petites entreprises	3 700 clients	$280,000
Entreprises moyennes	1 850 clients	1,2 million de dollars
Grandes entreprises	620 clients	4,5 millions de dollars

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: Structure des coûts

Frais de maintenance du carburant et des véhicules

En ce qui concerne le rapport financier de 2023, Werner Enterprises a déclaré des frais de carburant totaux de 536,1 millions de dollars. Les coûts d'entretien des véhicules étaient d'environ 124,5 millions de dollars pour l'exercice.

Catégorie de dépenses	Coût annuel	Pourcentage des dépenses d'exploitation
Dépenses de carburant	536,1 millions de dollars	38.2%
Entretien des véhicules	124,5 millions de dollars	8.9%

Salaire et avantages sociaux du conducteur

La compensation totale du conducteur pour Werner Enterprises en 2023 a atteint 752,3 millions de dollars, notamment:

• Salaires de base: 512,6 millions de dollars
• Avantages et assurance: 139,7 millions de dollars
• Bonus de performance: 100,0 millions de dollars

Investissements technologiques et infrastructures

L'investissement technologique pour 2023 a totalisé 87,2 millions de dollars, avec des allocations clés, notamment:

• Systèmes de gestion de la flotte: 35,6 millions de dollars
• Technologies de télématique et de suivi: 24,8 millions de dollars
• Infrastructure de cybersécurité: 16,9 millions de dollars
• Plateformes de communication numérique: 9,9 millions de dollars

Acquisition et dépréciation de la flotte

Catégorie d'actifs de flotte	Valeur totale	Dépréciation annuelle
Tracteurs de camions	742,5 millions de dollars	148,5 millions de dollars
Bandes-bandes	213,6 millions de dollars	42,7 millions de dollars

Frais d'assurance et de conformité

Les dépenses totales d'assurance et de conformité pour 2023 étaient de 214,6 millions de dollars, ventilées comme suit:

• Assurance responsabilité civile: 89,3 millions de dollars
• Indemnisation des accidents du travail: 62,4 millions de dollars
• Conformité réglementaire: 42,9 millions de dollars
• Programmes de formation à la sécurité: 20,0 millions de dollars

Werner Enterprises, Inc. (WERN) - Modèle d'entreprise: Strots de revenus

Services de transport de charges de camion

Pour l'exercice 2023, Werner Enterprises a déclaré des revenus de services de transport de camions de 2,47 milliards de dollars, ce qui représente 68,3% du total des revenus de l'entreprise.

Segment	Revenus annuels	Pourcentage du total des revenus
Services de transport de charges de camion	2,47 milliards de dollars	68.3%

Solutions logistiques et chaîne d'approvisionnement

Werner Logistics a généré des revenus annuels de 581,6 millions de dollars en 2023, représentant 16,1% du total des revenus de l'entreprise.

Segment	Revenus annuels	Pourcentage du total des revenus
Solutions logistiques et chaîne d'approvisionnement	581,6 millions de dollars	16.1%

Revenus de transport intermodal

Le segment des transports intermodaux de Werner a généré 325,4 millions de dollars de revenus pour l'exercice 2023, représentant 9,0% du total des revenus de l'entreprise.

Segment	Revenus annuels	Pourcentage du total des revenus
Transport intermodal	325,4 millions de dollars	9.0%

Contrats de transport dédiés

Les services de transport dédiés ont contribué 234,2 millions de dollars aux revenus totaux de Werner en 2023, représentant 6,5% du total des revenus de l'entreprise.

Segment	Revenus annuels	Pourcentage du total des revenus
Contrats de transport dédiés	234,2 millions de dollars	6.5%

Services auxiliaires et frais de gestion du fret

Les frais de gestion des services auxiliaires de Werner et de gestion du fret ont généré 14,8 millions de dollars de revenus supplémentaires pour l'exercice 2023.

Segment	Revenus annuels
Services auxiliaires et gestion du fret	14,8 millions de dollars

Revenus totaux de l'entreprise pour 2023: 3,62 milliards de dollars

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.