CSX Corp.

Schneider raises margin targets; Q4 ahead of expectations

2022 picks up where 2021 left off

Schneider raised margin targets for its truckload and intermodal segments and issued full-year 2022 guidance ahead of expectations Thursday. The company reported adjusted earnings per share of 76 cents for the fourth quarter, 11 cents better than the consensus estimate and 73% higher year-over-year.

The longer-term operating margin target for the company’s TL segment was raised to a range of 12% to 16% (up from 11% to 13%). The top end of the intermodal margin range was raised 200 basis points...

https://www.freightwaves.com/news/schneider-raises-margin-targets-q4-ahead-of-expectations

June carloads reflect an economy in ‘much better shape’

19 of 20 commodity categories see gains in June

U.S. railroads reported that carloads and intermodal originations reached 2.56 million during June, up 14.5% year-over-year, according to weekly data provided by the Association of American Railroads (AAR).

June carloads in the U.S. increased 19.1% year-over-year to 1.18 million with intermodal container and trailer volumes climbing 10.9% to 1.39 million.

The year-over-year comparisons continue to benefit from severe declines in shipments a year ago as a result of COVID-related lockdowns and...

https://www.freightwaves.com/news/june-carloads-reflect-an-economy-in-much-better-shape

CSX reaches agreement to acquire Quality Carriers

CSX Corp. (NASDAQ:CSX) announced Wednesday that it has signed an agreement with Quality Distribution to acquire bulk liquid chemicals transportation provider Quality Carriers Inc. Terms of the agreement were not disclosed. 

The Quality Carriers management team will continue to lead the chemical transportation entity as a part of CSX. Randy Strutz, president of Quality Carriers, explained the existing synergies between the two companies will offer better efficiencies for their customers.

“Quality...

https://s29755.pcdn.co/news/csx-reaches-agreement-to-acquire-quality-carriers

Schneider CEO says only ‘third inning’ of trucking cycle

Schneider National truck on highway

Schneider National (NYSE: SNDR) is planning for the robust freight environment to carry well into next year.

CEO and President Mark Rourke said the industry appears to still be in the early stages of the current trucking cycle, “maybe the third inning,” during an appearance at Baird’s 2020 Global Industrial Conference this week.

The Green Bay, Wisconsin-based transportation and logistics company’s chief said none of its customers feel good about inventory levels, which gives him confidence that...

https://s29755.pcdn.co/news/schneider-ceo-says-only-third-inning-of-trucking-cycle

Investor conference highlights bullish truckload market; intermodal demand returns

Unidentified rig on highway

Tight capacity and rising demand have carriers encouraged about the future. This dynamic was echoed by several transportation providers appearing virtually at Cowen’s 13th annual Global Transportation & Sustainable Mobility Conference on Wednesday.

Carriers struggle to keep up with rising demand

Schneider National’s (NYSE: SNDR) Chief Financial Officer Steve Bruffett said if the company’s current load tenders fell by 10% to 15%, it would still have more freight than it could handle on a daily...

https://s29755.pcdn.co/news/investor-conference-highlights-bullish-truckload-market-intermodal-demand-returns

Who’s transportation backing? Dems are early favorites

Transportation favoring democratic candidates

While transportation sector donors in the 2020 election season are overwhelmingly supporting Democratic candidates on the whole, President Donald Trump in particular continues to hold a huge advantage over Democratic nominee Joe Biden, according to the latest Federal Election Commission (FEC) campaign finance reports.

Trump has received $5,220,477 in campaign contributions from those employed in, or connected to, transportation companies, versus Biden’s $1,875,121 raised to date.

But looking at...

https://s29755.pcdn.co/news/whos-transportation-backing-dems-are-early-favorites

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