Schneider National

Analyst ups estimates for truckload carriers in 2H 2020

Trucks on highway

Citing strong spot market fundamentals and low retail inventories, UBS (NYSE: UBS) freight transportation analyst Tom Wadewitz raised his forecasts for truckload (TL) carriers for the back half of the year.

“Truckload spot market data have shown a better-than-normal seasonal pattern with continuing strength in spot loads in July and August,” stated Wadewitz in a Friday note to clients. The analyst pointed to a low retail inventory-to-sales ratio as well as recent reports of declining inventories...

https://s29755.pcdn.co/news/analyst-ups-estimates-for-truckload-carriers-in-2h-2020

The Daily Dash: Hurricane Laura’s aftermath; Convoy names new president

Hurricane Laura trucking impact

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Hurricane Laura has left quite an impact in Louisiana. Plus, Convoy and UPS name new presidents, and drivers beware: Another inspection blitz is coming.   

No fuel, no place to rest

Truck stops in and around areas where Hurricane Laura came ashore in Louisiana are closed due to mandatory evacuations and a lack of power. That is leaving drivers stranded with no facilities and potentially, no fuel.

John...

https://s29755.pcdn.co/news/the-daily-dash-hurricane-lauras-aftermath-convoy-names-new-president

Schneider, Navistar and Volvo Trucks announce electric vehicle initiatives

Schneider to test electric eCascadia truck

Electric vehicle news came quickly on Wednesday, with three major industry players making important announcements, topped off by Schneider National’s (NYSE: SNDR) announcement that it will begin an electric-truck test program.

Navistar and Volvo Trucks North America also chipped in with news that they will expand charging infrastructure and opportunities for ongoing projects.

Schneider said it will begin testing a Freightliner eCascadia through Daimler Trucks North America’s (DTNA) Freightliner...

https://s29755.pcdn.co/news/schneider-navistar-and-volvo-trucks-announce-electric-vehicle-initiatives

The Daily Dash: Electric truck mania; robotics company lands $17M; and J.B. Hunt receives landmark tractor

Volvl Trucks electric VNR tractor

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Schneider National, Navistar and Volvo Trucks North America all announced advancements to electric vehicle testing and charging networks. Plus, a warehouse robotics company and 3D additive printing firm land investment rounds.  

Electric charge

The flurry of news surrounding electric trucks on Wednesday was nearly nonstop. In the end, three large companies — Schneider National, Navistar and Volvo...

https://www.freightwaves.com/news/the-daily-dash-electric-truck-mania-robotics-company-lands-17m-and-jb-hunt-receives-landmark-tractor

Sluggish recovery in Cass freight data

Truck traveling along highway

Freight data provided by Cass Information Systems for July continues to lag other market indicators. While the freight index displayed a 4.8% sequential monthly improvement in shipments from June to July, with expenditures increasing 2.8%, the dataset is still a long way off of prior-year levels, posting a 13.1% year-over-year decline in shipments, with expenditures falling 14.3%.

The report’s author, Stifel Financial (NYSE: SF) equity research analyst David Ross, pointed to headwinds like...

https://www.freightwaves.com/news/sluggish-recovery-in-cass-freight-data

Truckers frustrated with hair-test guideline delays

A five-year delay of a rulemaking that would give trucking companies the option to use a hair test instead of urinalysis to screen drivers for drugs is preventing significant safety improvements, according to major industry players.

The benefits of hair testing within the trucking industry was a common theme among several panel discussions at a truck safety summit held by the Federal Motor Carrier Safety Administration (FMCSA) today.

Representatives from truckload operators Werner Enterprises (NAS...

https://s29755.pcdn.co/news/truckers-frustrated-with-hair-test-guideline-delays

The Daily Dash: Truck platooning, Schneider sitting on cash and Big Brown surprises

Schneider earnings

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a significant government platooning study will move forward with a California organization conducting the research. Plus, Schneider may be eyeing an acquisition, UPS’ provides a second-quarter earnings surprise and a lumber company bankruptcy means many carriers may be out thousands of dollars.

Platooning partners

The federal government has given a truck platooning project to a California...

https://www.freightwaves.com/news/the-daily-dash-truck-platooning-schneider-sitting-on-cash-and-big-brown-surprises

Schneider eyes deployment of growing cash balance

Schneider truck on highway

On its second-quarter earnings call with analysts, members of truckload (TL) carrier Schneider National’s (NYSE: SNDR) management team said they expect TL volumes to be higher year-over-year in the third quarter.

Prior to the market open on Thursday, the Green Bay, Wisconsin-based company reported second-quarter 2020 adjusted earnings per share (EPS) of 26 cents, 7 cents better than consensus but 8 cents lower year-over-year.

Currently, the carrier is seeing daily freight tenders exceed available...

https://s29755.pcdn.co/news/schneider-discusses-deployment-of-growing-cash-balance

Schneider beats Q2 mark, guidance reinstated

Schneider National truck on highway

Truckload (TL) carrier Schneider National (NYSE: SNDR) reported second quarter 2020 adjusted earnings per share (EPS) of $0.26, $0.07 better than consensus but $0.08 lower year-over-year.

“Of our various segments, Intermodal was most negatively impacted by the pandemic while the impact to Truckload and Logistics was proportionately less. Volumes improved as the quarter progressed, and our cost containment actions helped mitigate the earnings impact of the challenging market,” stated CEO and...

https://s29755.pcdn.co/news/schneider-beats-q2-mark-guidance-reinstated

Merrill Lynch boosts Knight Swift, J.B. Hunt and ArcBest

The transportation team at Bank of America Merrill Lynch (BOAML) is bullish on trucking stocks, raising the price objectives on a handful of them by several dollars per share.

The team led by Ken Hoexter based its increase in price objective (PO) on “the inflecting demand and spot rate environment.” It did not increase its buy/neutral/sell recommendation on any stocks. 

Getting an upward kick from the BOAML team was Knight-Swift (PO now $49, was $46, stock closed earlier this week  at $43.05);...

https://s29755.pcdn.co/news/merrill-lynch-boosts-knight-swift-j-b-hunt-and-arcbest

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