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Mar 31, 2023
Schneider National Q1 2023 Earnings Report
Schneider National's financial performance in Q1 2023 was characterized by muted demand and pricing pressures, yet the company achieved the second-highest first-quarter revenue and earnings in its history.
Key Takeaways
Schneider National reported Q1 2023 operating revenues of $1.4 billion, a decrease from $1.6 billion in 2022. Diluted earnings per share were $0.55, compared to $0.52 in the previous year. The company anticipates challenging freight conditions for the second and third quarters of 2023, with potential seasonal improvement in the fourth quarter.
Operating revenues decreased by 12% to $1.4 billion compared to Q1 2022.
Diluted earnings per share increased to $0.55 from $0.52 in the prior year.
Truckload revenues (excluding fuel surcharge) decreased by 2% to $537.0 million.
Logistics revenues (excluding fuel surcharge) decreased by 30% to $382.2 million.
Revenue by Segment
Forward Guidance
Schneider National updated its full-year 2023 adjusted diluted EPS guidance to $2.00 - $2.20, anticipating that the challenging freight environment will persist longer than original forecasts.
Positive Outlook
- Customer inventories are rationalizing.
- Industry capacity levels continue to rationalize.
- Dedicated operations are performing well.
- Intermodal opportunities are augmented by a new rail partnership with Canadian Pacific Kansas City.
- Strategic alignments with the Union Pacific and CSX are in place.
Challenges Ahead
- Freight conditions are expected to remain difficult for the second and third quarters of 2023.
- Market conditions are characterized by muted demand.
- Lack of seasonal surges is pressuring pricing.
- Freight volumes are under pressure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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