WERNER ENTERPRISES Business Summary

Werner Enterprises Inc. (WERN) operates as a premier transportation and logistics provider, generating revenue through a diversified mix of asset-based truckload services and asset-light logistics solutions. The company’s primary business is divided into two reportable segments: Truckload Transportation Services (TTS) and Werner Logistics. The TTS segment, which accounts for the majority of revenue, includes Dedicated services—characterized by long-term contracts and specialized equipment—and One-Way Truckload, which handles regional and transcontinental freight. The Werner Logistics segment provides non-asset-based services including freight brokerage, intermodal transport, and final-mile delivery. Following its January 2026 acquisition of FirstFleet, Werner has solidified its position as the fifth-largest dedicated provider in the U.S., leveraging a pro forma revenue base of approximately $3.6 billion. It competes directly with industry giants such as J.B. Hunt Transport Services, Knight-Swift Transportation Holdings, and Schneider National, maintaining a competitive edge through its high-density network and the Werner EDGE technological initiative. Founded in 1956 by Clarence L. Werner with a single truck, the company is currently led by Chairman and CEO Derek J. Leathers, a Princeton-educated executive with over 30 years of industry experience, including a significant tenure at Schneider National. The senior leadership team includes Executive Vice President and CFO Chris D. Wikoff, who joined in 2023 from West Technology Group, and EVP/Chief Operating Officer Eric J. Downing, a U.S. Air Force veteran with over 25 years of operational experience at Werner. Technology and innovation strategy are directed by EVP and Chief Information Officer Daragh P. Mahon, formerly of Vonage and Sage. The company’s strategic direction is overseen by a board that includes Lead Independent Director Scott C. Arves and recent appointee M. Gayle Packer (CEO of Terracon). Werner maintains a strong institutional investor base, with major holdings by BlackRock, Vanguard, and American Century Companies.