Werner Enterprises reported a net loss attributable to Werner of $14.4 million for the fiscal year ended December 31, 2025, a significant decline from a net income of $34.2 million in 2024. Total operating revenues decreased by 1.8% to $2.97 billion in 2025 from $3.03 billion in 2024. Operating income plummeted by 82.4% to $11.7 million in 2025 from $66.1 million in 2024, with the operating margin falling to 0.4% from 2.2%. The Truckload Transportation Services (TTS) segment's operating income decreased by 78.1% to $16.4 million, while Werner Logistics saw an increase to $6.7 million in operating income from a loss of $0.9 million in 2024. A strategic restructuring of the One-Way Truckload business in Q4 2025 resulted in a $44.2 million charge, primarily non-cash impairment on intangible assets and revenue equipment. The company recorded an $18.0 million litigation settlement agreement and $3.4 million in associated legal fees for the Abarca et al. v. Werner class action lawsuits. A favorable Texas Supreme Court decision in June 2025 led to a $45.7 million liability reversal through insurance and claims expense related to a December 2014 accident lawsuit. On January 27, 2026, Werner acquired FirstFleet, a dedicated truckload carrier, for $245 million (including a maximum $35 million earnout) plus $37.8 million for real estate, and assumed $57.0 million in finance leases. Cash flow from operations decreased by 44.9% to $181.8 million in 2025 from $329.7 million in 2024. Total debt increased to $752.0 million at year-end 2025, with a net debt ratio of 2.0 times EBITDA. The average age of the TTS segment company truck fleet was 2.7 years, and the trailer fleet was 5.6 years at December 31, 2025. Werner's largest customer, Dollar General, accounted for 11% of total revenues in 2025.