Schneider National

Schneider sees truckload tide turning

Schneider National noted some green shoots across the modes it serves and said truckload demand has returned to normal seasonal patterns.

The Green Bay, Wisconsin-based multimodal transportation provider said Thursday it started seeing spot rates exceed contract rates (typically the requisite precursor to a positive inflection in contract rates) around last Thanksgiving, with the trend accelerating from that point into 2025. Schneider’s customers have been, “more receptive to rate restoration,”...

https://www.freightwaves.com/news/schneider-sees-truckload-tide-turning

First look: Schneider Q4 earnings

Schneider National’s fourth quarter came in as expected, as did its initial earnings outlook for 2025. During the recent quarter, the company saw year-over-year earnings improvement across all segments for the first time since the 2022 second quarter.

Fourth-quarter adjusted earnings per share of 20 cents was in line with the consensus estimate and 4 cents higher y/y. The number excluded costs from prior acquisitions, including the Dec. 2 purchase of dedicated carrier Cowan Systems.

Schneider (NYS...

https://www.freightwaves.com/news/first-look-schneider-q4-earnings

Court decision opens the door for reimplementing Rhode Island truck tax, but with some provisions blocked

Rhode Island’s truck tolling system, which has been on the shelf following a lower court ruling in 2022, has new life following a Court of Appeals decision handed down Friday.

The decision by the First Circuit Court of Appeals is a blow to the American Trucking Associations, which has led the legal fight against the tolling plan known as RhodeWorks, does not give a full green light to all the provisions of the Rhode Island law. In that sense, the decision is a partial victory for the ATA. 

In the...

https://www.freightwaves.com/news/court-decision-opens-the-door-for-reimplementing-rhode-island-truck-tax-but-with-some-provisions-blocked

ACT Research forecasts market upswing in 2025

ACT Research forecasts market upswing in 2025

If 2024 was considered a freight market rebalancing for truckload, then 2025 is projected to be the end of the freight recession in the for-hire space, according to ACT Research. Its 58-page freight forecast paired aggregate spot data provided by DAT with a proprietary Supply-Demand balance curve. In the release, Tim Denoyer, vice president and senior analyst at ACT Research, said, “Currently, with a significant capacity contraction by for-hire...

https://www.freightwaves.com/news/act-research-forecasts-market-upswing-in-2025

Schneider National acquires Cowan, real estate for more than $400M

Schneider National announced Monday it has entered into an agreement to acquire Cowan Systems for $390 million. The deal will significantly expand Schneider’s dedicated unit.

Schneider (NYSE: SNDR) also entered separate agreements to acquire $31 million of Cowan’s real estate assets.

Baltimore-based Cowan is a 100-year-old dedicated truckload carrier serving the retail, food and beverage, industrial and building materials verticals with a fleet of over 1,800 trucks and 7,500 trailers. It also has...

https://www.freightwaves.com/news/schneider-national-acquires-cowan-other-assets-for-more-than-400m

Schneider National launches Mexico, US Southeast intermodal service

Schneider National announced Monday the launch of an intermodal service providing “truck-like daily transit between the Southeast and Mexico.”

The Green Bay, Wisconsin-based multimodal transportation and logistics provider said the service will provide continuous rail transportation between locations in Mexico and Texas with points in the U.S. Southeast. The new lane is an offshoot of a deal struck by CSX (NASDAQ: CSX) and Canadian Pacific Kansas City (NYSE: CP), creating a Class 1 rail...

https://www.freightwaves.com/news/schneider-national-launches-mexico-us-southeast-intermodal-service

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 Q3 earnings: First look

Schneider National missed third-quarter expectations and lowered its full-year 2024 guidance on Wednesday.

Adjusted earnings per share of 18 cents was 5 cents below the consensus estimate and 2 cents lower than the 2023 third quarter. The company said lower gains on equipment sales and equity investments were a 4-cent year-over-year headwind in the period. Elevated insurance costs, due to higher premiums and settlement expenses, were a 4-cent y/y drag as well.

Schneider (NYSE: SNDR) lowered...

https://www.freightwaves.com/news/schneider-national-q3-earnings-first-look

Truckload carriers: ‘Normal seasonality,’ no market inflection yet

“Normal seasonality” was the best truckload carriers could muster when describing the current freight environment at an investor conference this week. While freight demand is seeing more typical ebbs and flows from month to month, which is an improvement from a year ago, the fluctuations are occurring at a low starting point – the trough of a prolonged freight recession.

“This is seasonality similar to what you would have seen in 2019 where it wasn’t a strong market but you at least saw seasonal...

https://www.freightwaves.com/news/truckload-carriers-normal-seasonality-no-market-inflection-yet

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

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