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Sep 30, 2024
Schneider National Q3 2024 Earnings Report
Schneider National's Q3 2024 earnings were announced, revealing a mix of resilience and challenges across its business segments.
Key Takeaways
Schneider National reported Q3 2024 operating revenues of $1.3 billion, a decrease of 3% compared to $1.4 billion in 2023. Income from operations decreased by 8% to $43.1 million, and diluted earnings per share were $0.17, with adjusted diluted earnings per share at $0.18. The company updated its full-year adjusted diluted earnings per share guidance to $0.66 - $0.72 and net capital expenditures guidance to approximately $330.0 million.
Dedicated and Intermodal businesses showed resilience, while Logistics maintained profitable operations.
Dedicated performed well with a robust new business pipeline.
Intermodal achieved margin growth through network optimization and cost management.
Logistics effectively managed net revenue and lowered costs using Schneider FreightPower® technology.
Schneider National
Schneider National
Schneider National Revenue by Segment
Revenue by Segment
Truckload Revenue
CapyFin.comIntermodal Revenue
CapyFin.comLogistics Revenue
CapyFin.comOther Revenue
CapyFin.comFuel Surcharge Revenue
CapyFin.comInter-segment eliminations Revenue
CapyFin.com Forward Guidance
The company expects modest improvement in the fourth quarter and has updated its full-year adjusted diluted earnings per share guidance to $0.66 - $0.72 and net capital expenditures guidance to approximately $330 million.
Positive Outlook
- Continued stabilization across most businesses.
- Improved seasonality.
- Positioning the enterprise for a more sustained market recovery.
- Strength of balance sheet.
- Actions taken to enhance free cash flow.
Challenges Ahead
- Shifted expectations of the timing of freight market improvement.
- Present market conditions do not support additional investment in the Network truck business.
- Network results remain challenged as expected seasonality momentum was not sustained.
- Lower year over year gains on equipment sales and equity investments represented a $0.04 EPS headwind.
- Auto liability insurance costs increased by $10 million, a $0.04 EPS impact year over year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income