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Sep 30
Schneider National Q3 2025 Earnings Report
Schneider National reported its third quarter 2025 results, highlighting the impact of the Cowan Systems acquisition and ongoing cost and revenue initiatives, despite higher claims costs and sub-seasonal market conditions in August and September.
Key Takeaways
Schneider National's third quarter 2025 results showed an increase in operating revenues to $1.45 billion, up 10% from the previous year, largely due to the acquisition of Cowan Systems. However, income from operations decreased by 18% to $35.3 million, and diluted EPS fell to $0.11 from $0.17 in 2024, primarily due to $16.0 million in claims costs exceeding guidance. Despite a challenging market, the company saw growth in Dedicated Truckload and Intermodal volumes, particularly in Mexico, and improved productivity in Logistics.
Operating revenues increased by 10% to $1.45 billion, driven by the acquisition of Cowan Systems.
Income from operations decreased by 18% to $35.3 million, impacted by higher claims costs.
Diluted earnings per share were $0.11, a 35% decrease from $0.17 in the prior year.
Truckload Dedicated volume grew by 22%, and Intermodal volume increased by 10%, with strong growth in Mexico.
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
Schneider National updated its full-year 2025 adjusted diluted earnings per share guidance to approximately $0.70 and net capital expenditures to approximately $300 million. The company anticipates earnings improvement in the fourth quarter despite persistent sub-seasonal trends, driven by ongoing cost reduction and revenue strategies. They also expect regulatory enforcement actions to help remove excess capacity in the industry.
Positive Outlook
- Anticipates earnings improvement in the fourth quarter due to execution on cost reduction and revenue strategies.
- Regulatory enforcement actions are expected to significantly change industry supply dynamics by removing excess capacity.
- Company remains disciplined on capital allocation, positioning itself to act opportunistically for shareholder value.
- Potential for accretive acquisitions and continued shareholder returns.
- Continued focus on leveraging differentiated capabilities and driving productivity gains.
Challenges Ahead
- Challenging insurance dynamics, including adverse development of prior year claims, pressured third-quarter results.
- Recent sub-seasonal market trends are likely to persist for the balance of the year.
- Macro uncertainty continues to be a factor.
- Updated full-year adjusted diluted EPS guidance of approximately $0.70 is lower than the prior guidance of $0.75 - $0.95.
- The timing of claims costs masked some traction on efforts to lower cost to serve and deliver on revenue strategies.