Schneider National

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

Intermodal volumes will take months to improve, panel predicts

A photograph of four intermodal containers.

Intermodal volumes could start to improve around the fourth quarter of 2020 or the first quarter of 2021, but uncertainty surrounding the coronavirus pandemic makes any volume forecast dicey, said a trio of panelists at Wolfe Research’s Global Transportation and Industrials conference on Tuesday.

“You have some really big factors that aren’t normal items,” and it’s not just an economic issue but a biological one, said Jim Filter, Schneider National (NYSE: SNDR) senior vice president and general...

https://s29755.pcdn.co/news/intermodal-volumes-will-take-months-to-improve-panel-predicts

Investor conference highlights trucking headwinds, tailwinds as economic restart looms

unidentified rig on highway

The outlook from management teams of several truckload (TL) and transportation companies participating virtually in the Bank of America Transportation and Industrials Conference this week hasn’t changed dramatically from their earnings reports a couple of weeks ago. However, sentiment is improving slightly as more of the economy is poised to come back online.

Thoughts on the overall market

John Kuhlow, interim CFO at J.B. Hunt Transport Services (NASDAQ: JBHT), said some “uncertainty remains,”...

https://www.freightwaves.com/news/investor-conference-highlights-trucking-headwinds-tailwinds-as-economic-restart-looms

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