Schneider

2024’s most notable trucking deals

A slowdown in trucking M&A was met by interest rate cuts for the first time in more than four years in 2024. The anticipation of lower lending rates fostered more constructive transaction dialogues during the year, but deal count across the industry was still off 5% from 2023, according to data compiled by the research team at Left Lane Associates.

The supply chain M&A advisory firm said there is noise in the number as some deals were paused until after the election, which pushed closings into...

https://www.freightwaves.com/news/2024s-most-notable-trucking-deals

Reverse stock splits: Often a path to oblivion

The reverse stock split, a form of financial engineering that artificially boosts a company’s stock price, often sounds a death knell, especially for startups that exhausted funds in mergers with special purpose acquisition companies.

The widespread carnage of failed advanced technology startups, especially in electrification and autonomy, is remarkable. With a few exceptions, companies opting for a reverse split end up on a path to oblivion.

All hat, no cattle

According to the independent Financia...

https://www.freightwaves.com/news/reverse-stock-splits-often-a-path-to-oblivion

Schneider National cuts outlook, ‘commoditized’ one-way fleet uninvestable

Schneider National lowered full-year 2024 expectations on Wednesday as seasonal trends, which were favorable in June and July, eroded during August and September.

The Green Bay, Wisconsin-based multimodal transportation provider now expects 2024 adjusted earnings per share of just 66 to 72 cents, down from quarter-ago guidance of 80 to 90 cents, and lower than the 82-cent consensus estimate at the time of the print.

The company did say it expects to see some seasonal improvement in the fourth...

https://www.freightwaves.com/news/schneider-national-cuts-outlook-commoditized-one-way-fleet-uninvestable

Schneider National sees “signs of market improvement” on the horizon

Schneider National officials said while they can’t predict if a freight market inflection will occur soon, the market is showing signs of improvement.

The Green Bay, Wisconsin-based truckload carrier reported adjusted earnings per share of 21 cents for the second quarter before the market opened Thursday.

The company’s second quarter adjusted earnings per share was 3 cents ahead of consensus estimates for the quarter, but down 53% from the same year-ago period. 

Schneider (NYSE: SNDR) posted...

https://www.freightwaves.com/news/schneider-national-sees-signs-of-market-improvement-on-the-horizon

Poor trailer space utilization continues in 2023

Study highlights nearly half of truckloads in 2023 moved partially empty

(Source: Flock Freight)

Flock Freight recently released its yearly study, which looks at how market conditions are affecting the industry in partnership with Drive Research. The report is based on survey data that included 1,000 transportation decision makers from various industries. The study found that underutilized trailer space remained an issue in trucking, and continues to persist, finding 43% of truckload moving...

https://www.freightwaves.com/news/poor-trailer-space-utilization-continues-in-2023

Schneider National cuts 2024 outlook, notes some positive trends

Schneider National slightly missed first-quarter expectations and cut its full-year earnings outlook by nearly 25%. It noted some improving trends on a Thursday call with analysts but concluded it’s “not calling an inflection in the market.”

The most surprising takeaway from the call was the disclosure that truckload contract price renewals were positive for the first time in six quarters. For contracts renewing in the period, pricing increased by a low-single-digit percentage.

The company said...

https://www.freightwaves.com/news/schneider-national-cuts-2024-outlook-notes-some-positive-trends

Diesel distancing propels alternative fuel options

Renewable natural gas, battery-electric and hydrogen-powered trucks all target fleets switching from diesel ahead of coming regulations requiring costly additional emissions after-treatment. Which alternative will win? Possibly all of them.

Vouchers make first Nikola fuel cell trucks ‘cheaper than a diesel’

Back in 2018, Anheuser-Busch placed an initial order for up to 800 Nikola fuel cell trucks. Ever so slowly, that is becoming a reality.

After numerous missteps and setbacks, Nikola produced 42...

https://www.freightwaves.com/news/diesel-distancing-propels-alternative-fuel-options

Electric trucks should shake off setbacks in 2024

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Meaningful volume growth eluded heavy-duty electric trucks last year for several reasons: Charging...

https://www.freightwaves.com/news/electric-trucks-should-shake-off-setbacks-in-2024

Torc tackles beyond-the-truck autonomous issues

How will the “personas” of dispatchers, maintenance technicians and roadside assistance change as autonomous trucks arrive? Torc Robotics is working with major fleets to find out.

Torc differs from its major competitors in preparing to launch fully integrated autonomous Freightliner Cascadias into commerce.

The independent subsidiary of Daimler Truck moves deliberately. Aurora Innovation and Kodiak Robotics target late 2024 for their first commercial routes with driverless trucks. Torc is looking...

https://www.freightwaves.com/news/torc-tackles-beyond-the-truck-autonomous-issues

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