Werner Enterprises CEO Addresses Current Freight Market Conditions

Werner Enterprises CEO Derek Leather has defended the freight market, stating that it is not at an inflection point yet. He noted signs of stabilization and a turnaround, with freight demand being steady but competitive. The company`s One Way segment improved mid-quarter and continued into July. International Roadcheck found a tighter environment, normal due to enforcement crackdowns. Other indicators suggest a bottom in the market may have been reached, with more seasonal freight trends and better demand on the West Coast. Werner has cut back on the size of its fleet significantly, with the Dedicated Truckload segment experiencing a decline from 5,276 to 5,184 in 2022. The reduction reflects the company`s disciplined approach and a strategy to prepare for emissions changes.