Schneider National

Schneider looking for TL market to shake 600-day downturn

Schneider National missed fourth-quarter expectations on Thursday, and its full-year 2024 outlook also came in lower than analysts’ forecasts. The company said it anticipates the truckload market turning, but like many others, believes that won’t happen until the back half of the year.

The company’s internal TL freight index has been below neutral for more than 600 days. The data set shows a normal cycle averages 577 days.

“We believe we’re very long into this cycle. … We do believe things will...

https://www.freightwaves.com/news/schneider-looking-for-tl-market-to-shake-600-day-downturn

Ree Automotive: Business life during wartime

Startup Ree Automotive builds its drive-by-wire electric powertrains in the United Kingdom. Its future customer base is mostly in the U.S. But its headquarters is in Tel Aviv, where the Hamas-Israel war takes an emotional toll on employees and their families called to fight.

Israel-based businesses count on some portion of their workforces serving in defense of the country surrounded by enemies sworn to destroy it.

When war comes calling, as it did during the Oct. 7 surprise bombing of Israel by...

https://www.freightwaves.com/news/ree-automotive-business-life-during-wartime

Schneider posts cost-burdened Q3

Schneider National reported a big earnings miss Thursday and cut its outlook for the remainder of the year.

Earnings per share of 20 cents were below a consensus estimate of 37 cents, an adjusted second-quarter result of 45 cents and a year-ago result of 70 cents.

“Our results were driven by ongoing price pressures primarily in our network businesses, as well as other headwinds such as fuel, bad debt, and lower equipment gains,” President and CEO Mark Rourke said in a news release.

Retail diesel...

https://www.freightwaves.com/news/schneider-posts-cost-burdened-q3

J.B. Hunt a bit more upbeat

Management from J.B. Hunt Transport Services was slightly more positive on the freight environment Wednesday, saying the market is “coming out of a freight recession” as opposed to being in one.

J.B. Hunt’s (NASDAQ: JBHT) customers have largely completed an inventory destocking, according to President Shelley Simpson, who made the comments at a Morgan Stanley (NYSE: MS) investor conference in Dana Point, California. She said customers are “cautiously optimistic,” with some indicating freight...

https://www.freightwaves.com/news/j-b-hunt-a-bit-more-upbeat

Truckload carriers see market moving toward equilibrium

A couple of truckload carriers said the bottom of the cycle has likely occurred but acknowledged that any material positive inflection in fundamentals won’t happen until sometime in 2024. That likely means a “muted peak season” again this year.

“I think there will be some signs of seasonal activity across September, October, November,” Schneider National (NYSE: SNDR) CFO Steve Bruffett said at a Morgan Stanley (NYSE: MS) investor conference Tuesday in Dana Point, California. 

“I think that sets...

https://www.freightwaves.com/news/truckload-carriers-see-market-moving-toward-equilibrium

Schneider National lowers 2023 guidance

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Schneider National joined a chorus of transportation providers that recently lowered guidance for...

https://www.freightwaves.com/news/schneider-national-lowers-2023-guidance

Schneider acquires another dedicated carrier

Schneider National announced Tuesday after the market closed it has acquired dedicated carrier M&M Transport Services for an undisclosed sum.

Massachusetts-based M&M Transport operates a fleet of 500 trucks and 1,900 trailers out of 12 locations in the Northeast, Midwest and Southwest. The company’s account list includes Fortune 500 retail and manufacturing companies.

Financial terms of the transaction were not disclosed. The deal is expected to be immediately accretive to earnings.

Schneider (NYSE...

https://www.freightwaves.com/news/schneider-acquires-another-dedicated-carrier

Schneider’s 2023 outlook better than expected

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Transportation and logistics provider Schneider National provided better-than-expected earnings...

Los transportadores apuestan por el resto de 2022 y esperan que el mercado se normalice en 23

Los grandes transportadores han renunciado a cualquier mejora material en la demanda de carga para el resto del año. Sin embargo, algunos están empezando a llamar a la estacionalidad normal en 2023 con el mercado apretando tan pronto como la mitad del año. 

No hay sorpresa, no hay temporada alta

En su comparecencia en la conferencia global industrial anual de Baird en Chicago, la dirección de J.B. Hunt (NASDAQ: JBHT) dijo que la corrección de los inventarios sigue produciéndose en toda su cartera...

https://www.freightwaves.com/news/los-transportadores-apuestan-por-el-resto-de-2022-y-esperan-que-el-mercado-se-normalice-en-23

Carriers punt on rest of 2022, hopeful for market normalization in ’23

Large carriers have given up on any material improvement in freight demand for the rest of the year. However, some are beginning to call for normal seasonality in 2023 with market tightening as soon as the middle of the year.

No surprise, there is no peak season

Appearing at Baird’s annual global industrial conference in Chicago, management from J.B. Hunt (NASDAQ: JBHT) said an inventory correction is continuing to play out throughout its customer book. An extant overhang of merchandise was...

https://www.freightwaves.com/news/carriers-punt-on-rest-of-2022-hopeful-for-market-normalization-in-23

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