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Mar 31, 2024
Schneider National Q1 2024 Earnings Report
Schneider National's Q1 2024 results were impacted by the ongoing freight recession, though some progress was observed in market dynamics and commercial efforts. The company focused on improving asset productivity, maintaining price discipline, and executing cost initiatives.
Key Takeaways
Schneider National reported Q1 2024 operating revenues of $1.3 billion, a decrease of 8% compared to $1.4 billion in Q1 2023. Income from operations decreased significantly to $28.7 million from $114.6 million in the same period last year. Diluted earnings per share were $0.10, with an adjusted diluted earnings per share of $0.11. The company updated its full-year adjusted diluted earnings per share guidance to $0.85 - $1.00 and net capital expenditures guidance to $350.0 - $400.0 million.
Operating revenues decreased by 8% year-over-year to $1.3 billion due to freight recession pressures.
Income from operations saw a significant decrease of 75% to $28.7 million.
Diluted earnings per share decreased to $0.10, with adjusted diluted earnings per share at $0.11.
Full-year adjusted diluted earnings per share guidance updated to $0.85 - $1.00, and net capital expenditures guidance updated to $350.0 - $400.0 million.
Revenue by Segment
Forward Guidance
Schneider updated its full year 2024 adjusted diluted earnings per share guidance to $0.85 - $1.00 and net capital expenditures guidance to $350.0 - $400.0 million.
Positive Outlook
- Actively managing costs across the business.
- Pursuing margin improvement.
- Continuing to focus on strategic growth areas of Dedicated, Intermodal, and Logistics.
- Believes the cycle is closer to its end than its beginning.
- Anticipate improving conditions as the year progresses.
Challenges Ahead
- Challenging freight market conditions have persisted for longer than originally contemplated.
- Tempered outlook on the timing of the recovery.
- First quarter results impacted by freight recession.
- Lower network pricing and volumes year over year impacted truckload segment.
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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