Truckload net capital expenditures measure capital spending after subtracting proceeds from asset sales under the carrier's stated definition.
For truckload carriers, the measure commonly reflects tractors, trailers, technology, terminals, and other operating assets.
Net capex shows the cash cost after equipment recycling
Carriers regularly sell used tractors and trailers as they refresh fleets.
Net capital expenditures therefore differ from gross purchases because disposal proceeds offset part of the cash outlay.
Werner reported net capital proceeds of $9.7 million in the second quarter of 2026 after selling more equipment and buying less during its One-Way restructuring. It nevertheless raised full-year 2026 net capital expenditure guidance to $215 million to $250 million as it prepared to reduce tractor fleet age.
Schneider reported $128.3 million of net capital expenditures in the first half of 2026 and had guided to $400 million to $450 million for the full year earlier in 2026.
Net capex can swing with both purchases and sales
A lower net outflow may mean:
- fewer new tractors or trailers;
- more used equipment sold;
- stronger sale proceeds;
- greater use of operating leases; or
- delayed technology or terminal spending.
It does not automatically mean the carrier is underinvesting.
Keep definitions issuer-specific
Net capital expenditure definitions can differ in treatment of finance leases, real estate, acquisitions, proceeds from equipment sales, and non-trucking assets.
The measure is therefore most reliable within a carrier's own time series unless definitions are reconciled.
Primary-source examples
Truckload net capital expenditures are most useful as a fleet-and-network reinvestment measure after asset-sale proceeds. Read them with tractor age, trailer age, fleet count, lease usage, and equipment-sale gains.
Part of the Truckload Freight Operating Model
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