Werner Enterprises (NasdaqGS:WERN) Conference December 02, 2025 10:30 AM ET Speaker1All right. We're going to go ahead and get started with the next presentation. I'm Tom Wadewitz with Sycamore Freight Transports at UBS. It's a pleasure to have Werner with us today, Derek Leathers, and Chris Wikoff. Derek is CEO and Chris is CFO. We're going to follow with the fireside chat format. I guess just to get things started, Derek and Chris, thanks so much for joining us. What are you seeing in terms of the freight ...

Both OTVI and STVI are useful indicators of overall freight demand, and directionally, they show the same thing – that freight demand is meaningfully lower year over year. The main difference is magnitude. OTVI and STVI are down 11% year over year and 3% year over year, respectively.STVI is a dataset that is more heavily weighted toward consumer packaged goods, food, and shorter-haul traffic, which are relatively stable sectors of freight demand when compared to automotive and industrial. Therefore, the STV ...

The infrastructure problem is fundamental. Charging a passenger EV at home overnight is one thing. Charging Class 8 trucks that need megawatt-level power to recharge massive battery banks in timeframes that don’t obliterate productivity is something else entirely. The US doesn’t have that infrastructure. Building it requires grid upgrades, utility coordination, real estate acquisition, and capital investment measured in billions. Nobody figured out how to fund that at scale, so we’re left with announced ini ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick here with Katie Greifeld taking you through to that closing bell with the global simulcast. There's Carol Massar, Tim Stenovec in the radio booth.Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube kicking off the month of December. Carol On a bit of a down note. Yeah, I mean, it's kind of just I feel like malaise in the equity markets.What's really captured my attention, t ...

Core Viewpoint - Yellow Corp. has reached a settlement with 14 multiemployer pension plans regarding over $7.4 billion in claims following its 2023 shutdown [1]. Group 1: Settlement Details - A federal bankruptcy court in Delaware is reviewing a settlement that includes approximately $1.4 billion in withdrawal liability and other claims from the pension plans, with the Central States Pension Fund holding just over half of this amount [2]. - The pension plans and Yellow Corp. have been involved in expensive litigation for the past two years to negotiate exit fees [3]. Group 2: Legal Proceedings - Yellow Corp. lost an appeal in September to dismiss the withdrawal liabilities, arguing that the pension plans were fully funded due to federal bailout money received in 2021. However, the U.S. Court of Appeals upheld the Delaware court's decision that the American Rescue Plan allowed the Pension Benefit Guaranty Corp. to create guidelines ensuring bailout funds were used solely for plan benefits and costs [4]. Group 3: Financial Implications - The pension plans ultimately accepted lower amounts as potential recoveries from Yellow's estate continue to decrease, with estimates suggesting litigation costs could reach tens of millions of dollars [5]. - Yellow's estate has been largely liquidated, with proceeds from approximately $2.4 billion in real estate sales and $176 million from fleet sales used to cover $1.2 billion in secured debt and other claims [5]. - Recent estimates indicate that the estate will have only $600 million to $700 million available to satisfy outstanding claims, including those from pensions and former employees [6].

Yellow Corp has reached settlements with 14 pension plans that had sought over $7.4 billion from the bankrupt trucking company. ...

Core Viewpoint - Univest Securities, LLC has successfully closed a registered direct offering of $8.0 million for MingZhu Logistics Holdings Limited, a logistics and transportation service provider [1][3]. Group 1: Offering Details - The offering consists of 8,000,000 units, each unit comprising one ordinary share or a pre-funded warrant, and one common warrant, priced at $1.00 per unit [2]. - The pre-funded warrants have a purchase price equal to the ordinary shares minus the exercise price of $0.128 per share, while the warrants have an exercise price of $1.00 and will expire six months after issuance [2]. Group 2: Financial and Regulatory Information - The gross proceeds from the offering amount to approximately $8.0 million, with Univest Securities acting as the sole placement agent [3]. - The offering was conducted under a shelf registration statement previously filed and declared effective by the SEC on June 6, 2023 [4]. Group 3: Company Background - MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider, offering tailored logistics solutions through a combination of self-owned and subcontracted fleets [7]. - The company operates regional logistics terminals in Guangdong Province, enhancing its service delivery across the country [7]. Group 4: Univest Securities Overview - Univest Securities, LLC has been registered with FINRA since 1994 and provides a range of financial services, including investment banking and advisory [6]. - Since 2019, Univest has raised over $1.7 billion in capital for various issuers and completed approximately 100 transactions across multiple industries [6].

Summary of Layoffs Across Industries Group 1: Overall Layoff Trends - Recent layoffs across various sectors, including automotive, food processing, logistics, and manufacturing, total at least 11,934 workers, with the actual number likely higher due to phased cuts and incomplete reporting [1] Group 2: Specific Company Layoffs - Kroger plans to lay off over 1,000 employees as it closes three automated fulfillment centers in January 2026 to enhance e-commerce profitability and streamline operations [2] - Baker & Taylor will cease operations by the end of the year, resulting in approximately 1,500 layoffs, including staff at distribution centers in Georgia, New Jersey, and North Carolina [3] - General Motors is set to permanently lay off 1,140 employees at its Factory Zero site in Detroit effective January 5, due to production schedule adjustments linked to slower electric vehicle adoption [4] - GM will also temporarily lay off 710 employees at its Ultium Cells battery plant in Spring Hill, Tennessee, starting January 5, due to declining demand for electric vehicles, with expectations for production to resume by mid-2026 [5] - Yanfeng will close its production facility in Romulus, Michigan, resulting in 192 layoffs by the end of January, as production is shifted to other facilities [6] - Frito-Lay is closing two facilities in Orlando, Florida, leading to approximately 500 layoffs, with immediate cuts to 454 manufacturing employees and 46 warehouse employees scheduled for May 9 [7] - Tyson Foods is closing its large beef plant in Lexington, Nebraska, and eliminating one shift at its Amarillo, Texas, beef plant, citing a national cattle shortage and losses in its beef business [8]

Core Viewpoint - Mingzhu Logistics Holdings Limited has announced a definitive securities purchase agreement for the sale of 8,000,000 units at a price of $1.00 per unit, aiming to raise approximately $8 million in gross proceeds [1][2]. Group 1: Offering Details - The offering consists of one ordinary share or a pre-funded warrant and one common warrant per unit, with the ordinary share having a par value of $0.128 [1]. - Each warrant will have an exercise price of $1.00 per Class A Ordinary Share, will be immediately exercisable, and will expire six months after issuance [2]. - The transaction is expected to close on or about November 26, 2025, pending customary closing conditions [2]. Group 2: Placement Agent and Registration - Univest Securities, LLC is acting as the sole placement agent for this offering [3]. - The offering is made pursuant to a shelf registration statement on Form F-3, which was declared effective by the SEC on June 6, 2023 [4]. Group 3: Company Overview - Mingzhu Logistics Holdings Limited is a 4A-rated professional trucking service provider, offering tailored logistics solutions through a combination of self-owned and subcontracted fleets [6].

Core Insights - Kodiak's autonomous technology has been successfully tested with various customers, transporting products like tires, food, and frac sand, which has generated significant interest in driverless deployment [3][4] - The company is focused on long-haul trucking, which presents substantial opportunities for driverless operations, with the domestic long-haul market projected to exceed $900 billion by 2035 and over $4 trillion globally [5][6] - Kodiak reported Q3 revenue of $770,000, marking a 53% increase from the previous quarter, and anticipates further revenue growth as it expands its customer base [6] Company Developments - Kodiak has completed approximately 78% of its safety case reporting for self-driving technology in long-haul trucking [4] - The company aims to fully deploy its autonomous technology in the long-haul trucking segment by the end of next year, having already driven over 3 million miles and delivered more than 10,000 loads [7] - Partnerships with major firms such as J.B. Hunt Transport Services, CR England, Martin Brower, and Atlas Energy Solutions have been instrumental in Kodiak's progress [7] Market Opportunities - The industrial segment is identified as another ideal market for driverless technology, particularly in remote locations where recruiting and retaining drivers is challenging [5][6] - The company is actively seeking additional financing to support its scaling efforts and capitalize on the growing demand for autonomous trucking solutions [6]