| The Daily // Tue 10.20.26 | View in browser → |
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The Daily
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ANNOUNCEMENTS
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Werner Enterprises issues Q3 profit warning
Werner Enterprises issued adjusted third-quarter earnings guidance of 15 to 16 cents a share on Monday, well below the consensus estimate of 36 cents, according to Todd Maiden’s reporting. The truckload carrier cited 18 cents in combined costs from elevated diesel prices, higher driver recruitment and retention expenses, and a reserve adjustment for prior insurance claims. Revenue is forecast at $946 million to $951 million, slightly below the $953.6 million analysts expected.
Diesel prices rose sequentially in nine of 13 weeks in the third quarter. Retail diesel fell 1% in July, then rose 10% in August and 15% in September, and fuel surcharges lag by one week. The update did not change Werner’s guidance on tractor counts or pricing. The company had expected revenue per total mile at its one-way fleet to rise 10% to 13% year over year, and revenue per truck per week at its dedicated fleet, about 80% of its truckload network, to rise 3% to 5% for the full year.
Maiden writes that fuel and driver cost creep are affecting all truckload carriers. J.B. Hunt issued a similar warning in mid-September, and its management said it is typical to incur meaningful cost increases early in an upcycle. Werner shares fell 1.1% in morning trading Monday and are down 31% from a mid-July peak. The company reports third-quarter results Oct. 27 after the close.
Carriers are raising rates for the first time after a nearly four-year downturn, but Maiden reports that early-upcycle cost inflation is absorbing the gains and that the recovery will not be linear. Diesel is the swing factor: he writes that the drag should turn into an earnings boost when prices revert.
Pump price is trucking’s top concern, ATRI survey finds
The American Transportation Research Institute released its annual top-10 list of trucking industry concerns Sunday at the ATA Management Conference & Exhibition in Charlotte, according to John Kingston’s reporting. Fuel prices ranked first overall, after missing the top 10 in 2024 and 2025. Drivers ranked fuel first and carriers ranked it second. Lawsuit abuse took second overall, CSA scores third and insurance cost and availability fourth. The article says weekly average retail diesel reached $6.529 a gallon in September, the highest in the EIA series.
Kingston argues that carriers ranking fuel so high challenges the assumption that fuel surcharges fully pass fuel costs to shippers. ATRI ties the rise of CSA scores largely to the Supreme Court’s Montgomery v. Caribe Transport II ruling, as brokers look for documented carrier safety records.
Texas judge upholds nuclear verdict against C.H. Robinson
Dallas County Court Judge Dianne Jones affirmed the July $604,025,000 verdict against C.H. Robinson, according to John Kingston’s reporting. The case stems from a March 2021 crash in Jackson, Mississippi, that killed three people, including Gorgonio Gonzalez, a driver for carrier Lupus Superior who was hauling a load C.H. Robinson had hired the carrier to move for Arizona Beverages. About $107 million in pre-judgment interest brings the total to more than $700 million, against $154.9 million in cash and equivalents at the end of the second quarter. The jury found Gonzalez was operating the vehicle for the benefit of C.H. Robinson and subject to its control. Chief Legal Officer Dorothy Capers said the company did not cause or contribute to the accident.
The control finding, if upheld, could expose brokers to liability for the conduct of the carriers they hire. C.H. Robinson has not yet appealed, and TD Cowen’s Jason Seidl said a multi-year appeal could add to the interest charge.
Trans-Pacific facing new booking risks as reliability sinks
WiseTech Global’s October Ocean Freight Risk Outlook finds ocean reliability worsening on the major east-west trades, according to Stuart Chirls’ reporting. Trans-Pacific on-time performance fell to 26.9% in September from 33.9% in August, with delays of eight days or more the largest arrival category. Carrier planned capacity is expected to fall, and WiseTech says its booking security risk indicator will rise and stay well above its historical average. Asia-Europe fell harder, with on-time performance dropping to 9.9% from 22.9%.
WiseTech advises forwarders and cargo owners to book early against contracted allocations and build in extra delivery time. It also warns that shorter published schedules on Asia-Europe do not indicate better reliability.
Federal prosecutors charge man in Bluetooth CDL exam cheating scheme
Federal prosecutors charged Rudy Romero Nolasco, 42, of Massachusetts, with unlawfully producing an identification document, according to Phil Brink’s reporting. Investigators accuse him of receiving answers through a concealed Bluetooth earpiece while taking commercial driving exams in November and December 2021. The case grew out of an undercover Homeland Security Investigations operation in which Frank Castro offered an agent a commercial learner’s permit for $3,000. Castro was convicted in January and sentenced May 1 to time served, about 23 months in custody. The charge carries up to 15 years in prison, and Nolasco is presumed innocent.
Investigators have not established how many other applicants took part in Castro’s operation. Court records do not show whether Nolasco obtained a full commercial driver’s license or whether other participants drove commercial trucks.
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| Time | Guest | Topic |
|---|---|---|
| 12pm | Brett Suma | President and COO of Bot Auto |
| 12:30pm | John Kingston | Editor at Large at FreightWaves |
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Infios research shows the 2025 tariff overhaul turned transport mode, tariff exposure and trade-route selection into variables shippers now have to manage actively, not fixed costs they can set and forget.
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80% less lost assets: How Sensolus tracks non-powered assetsSteve Logue of Sensolus on tracking non-powered assets like pallets and containers, which are costly to misplace. |
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Trucking Rates & Fuel: Is Capacity Actually Tightening?Accepted tender volumes are down while tender rejection rates are rising, which challenges traditional market recovery patterns. |
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Diesel Prices: Get Ready for a "New Normal" in Trucking CostsJohn Tirado of Summa Energy explains why diesel prices are shattering records and what the trucking industry should expect. |
FreightWaves’ flagship event blends rapid-fire tech demos and world-class speakers with the most legendary networking in logistics. Join 1,000+ freight and logistics experts, industry leaders, entrepreneurs and innovators for a definitive look at the year ahead. Come for the insights, stay for the celebration and leave with the connections that will define your 2027.
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Werner’s Oct. 27 earnings reportWerner reports third-quarter results after the close. Watch whether they land near the 15- to 16-cent guidance and what management says about diesel and driver costs. |
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Whether C.H. Robinson appealsThe company has not yet appealed the $604 million verdict. Watch whether it targets the control finding, which TD Cowen’s Jason Seidl says it would most like to overturn. |
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Trans-Pacific capacity late in the outlookWiseTech expects capacity to tighten toward the end of its four-week outlook period. Watch whether on-time performance recovers from September’s 26.9% as carriers cut planned capacity. |
