A month has gone by since the last earnings report for Werner Enterprises (WERN Quick QuoteWERN - Free Report) . Shares have added about 12.5% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Werner due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.

Werner's Q1 Earnings Beat Estimates

Werner reported solid first-quarter 2026 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate as well as improved year over year.

Werner reported first quarter earnings per share of 2 cents against the Zacks Consensus Estimate loss of 3 cents per share. In the year-ago quarter, the company reported loss of 12 cents per share.

Total revenues of $808.6 million surpassed the Zacks Consensus Estimate of $804.8 million and grew 14% on a year-over-year basis owing to a $92.4 million, or 18% increase in Truckload Transportation Services (“TTS”) revenues and a slight increase in Werner Logistics revenues of $0.3 million.

WERN reported adjusted operating income of $11.9 million compared with adjusted operating loss of $1.8 million in the prior-year quarter. Adjusted operating margin of 1.5% increased 180 basis points from the year-ago quarter.

Derek Leathers, Werner’s chairman and chief executive officer, stated, "The first quarter reflects early results from our strategic positioning and positive momentum in our core business. Dedicated revenue and fleet size grew, bolstered by our FirstFleet acquisition, improving rates, and a strong 95% customer retention rate. Restructuring in our One-Way Truckload business is yielding a near double-digit increase in revenue per truck. Logistics revenues remained flat year-over-year, with growth in Intermodal and Final Mile. And, overall operating margins are improving. Through continued cost discipline, and a relentless focus on safety, service and innovation, Werner remains well-positioned to drive better financial results as market conditions tighten throughout the year."

WERN’s Q1 Segmental Results

Revenues in the TTS segment grew 18% on a year-over-year basis to $594.31 million. Adjusted operating income of $14.8 million surged more than 100% year over year. The adjusted operating margin of 2.5% improved 210 basis points.

Logistics’ revenues totaled $195.83 million, down 3% year over year. Segmental adjusted operating loss was $0.9 million, compared with adjusted operating income of $0.7 million in the prior-year quarter. Adjusted operating margin of (0.4)% decreased 70 basis points from the year-ago quarter.

Liquidity

As of Mar. 31, 2026, Werner had cash and cash equivalents of $61.54 million compared with $59.92 million at the prior-quarter end. Long-term debt (net of current portion) came in at $869.6 million compared with $752 million at the end of prior quarter.

The company generated $89.2 million of cash from operations in first-quarter 2026. Net capital expenditure amounted to$2 million.

Werner did not repurchase any shares in the first quarter of 2026. As of Mar 31, 2026, WERN had 5.0 million shares remaining under its share repurchase authorization.

WERN’s Outlook

For 2026, Werner anticipates TTS truck growth to improve in the range of 23-28%. Net capital expenditure is estimated to be in the range of $185-$225 million.

Under the TTS guidance, WERN projects dedicated revenues per truck per week to improve from flat to up 3% (prior view: decline from 1% to grow to 2%) in 2026. The full-year 2026 tax rate is now anticipated to be in the range of 25.5%-26.5%.

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 18.12% due to these changes.

VGM Scores

At this time, Werner has a great Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Following the exact same course, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Werner has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Werner is part of the Zacks Transportation - Truck industry. Over the past month, Knight-Swift Transportation Holdings (KNX Quick QuoteKNX - Free Report) , a stock from the same industry, has gained 17.1%. The company reported its results for the quarter ended March 2026 more than a month ago.

Knight-Swift reported revenues of $1.85 billion in the last reported quarter, representing a year-over-year change of +1.4%. EPS of $0.09 for the same period compares with $0.28 a year ago.

Knight-Swift is expected to post earnings of $0.47 per share for the current quarter, representing a year-over-year change of +34.3%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.2%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Knight-Swift. Also, the stock has a VGM Score of B.