As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the ground transportation industry, including Werner (NASDAQ: WERN) and its peers.

The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.

The 15 ground transportation stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.7%.

While some ground transportation stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 5% since the latest earnings results.

Weakest Q2: Werner (NASDAQ: WERN)

Conducting business in over a 100 countries, Werner (NASDAQ: WERN) offers full-truckload, less-than-truckload, and intermodal delivery services.

Werner reported revenues of $933.9 million, up 24% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a significant miss of analysts’ EPS estimates and adjusted operating income in line with analysts’ estimates.

"Werner’s strong second-quarter results reflect the strategic efforts implemented over the last few quarters and our decisive actions to adapt to a capacity tightening market," said Chairman and CEO Derek Leathers.

The market seems disappointed with the results as the stock is down 2% since reporting and currently trades at $37.56.

Read our full report on Werner here, it’s free.

Best Q2: RXO (NYSE: RXO)

With access to millions of trucks, RXO (NYSE: RXO) offers full-truckload, less-than-truckload, and last-mile deliveries.

RXO reported revenues of $1.77 billion, up 25% year on year, outperforming analysts’ expectations by 7.9%. The business had an incredible quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

RXO achieved the biggest analyst estimate beat and fastest revenue growth in the group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.7% since reporting. It currently trades at $19.59.

Is now the time to buy RXO? Access our full analysis of the earnings results here, it’s free.

Covenant Logistics (NASDAQ: CVLG)

Started with 25 trucks and 50 trailers, Covenant Logistics (NASDAQ: CVLG) is a provider of expedited long haul freight services, offering a range of logistics solutions.

Covenant Logistics reported revenues of $332.9 million, up 9.9% year on year, exceeding analysts’ expectations by 0.8%. Still, it was a mixed quarter as it posted EPS in line with analysts’ estimates.

As expected, the stock is down 13.1% since the results and currently trades at $36.05.

Read our full analysis of Covenant Logistics’s results here.

Old Dominion Freight Line (NASDAQ: ODFL)

With its name deriving from the Commonwealth of Virginia’s nickname, Old Dominion (NASDAQ: ODFL) delivers less-than-truckload (LTL) and full-container load freight.

Old Dominion Freight Line reported revenues of $1.55 billion, up 10.4% year on year. This print topped analysts’ expectations by 0.7%. It was a strong quarter as it also recorded a beat of analysts’ EPS estimates.

The stock is down 21.1% since reporting and currently trades at $178.59.

Read our full, actionable report on Old Dominion Freight Line here, it’s free.

Schneider (NYSE: SNDR)

Employing thousands of drivers across the country to make deliveries, Schneider (NYSE: SNDR) makes full truckload and intermodal deliveries regionally and across borders.

Schneider reported revenues of $1.57 billion, up 10.4% year on year. This number surpassed analysts’ expectations by 3.9%. It was a stunning quarter as it also logged full-year EPS guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $34.11.

Read our full, actionable report on Schneider here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.