Schneider Reports $1.75 Billion Revenue for Q2

Schneider truck
John Sommers II for Transport Topics

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Schneider National posted increases in revenue and earnings during the second quarter of 2022, the company reported July 28.

The Green Bay, Wis.-based truckload, intermodal and logistics services provider posted net income of $129.8 million, or 73 cents a diluted share, for the three months ending June 30. That compared with $106.5 million, 60 cents, during the previous year. Total revenue increased by 28% to $1.75 billion from $1.36 billion.

“Our enterprise delivered solid earnings performance in the second quarter, illustrating the utility and momentum of our multimodal platform,” Schneider CEO Mark Rourke said in a statement. “Two of our strategic growth offerings crossed meaningful milestones in the quarter. Dedicated operated over 6,000 tractors in the quarter, an increase of over 40% from a year ago. Our logistics segment achieved record earnings of $47.3 million on 21% growth in revenue over a year ago.”

Sndr 2q22 Er by Transport Topics

Despite the gains, Rourke noted indications of moderation in freight market conditions as the quarter progressed. That observation is consistent with what other carriers and industry experts have been anticipating as the market shows signs of normalizing.

For Q3 and beyond, Rourke said, “We continue to expect a constructive freight environment for the remainder of 2022, including a return of seasonality, starting with Fourth of July holiday and back-to-school demand. We believe we are well-positioned as a result of the purposeful shaping of our portfolio over the past several years to drive durable earnings and shareholder value.”

The Q2 results beat expectations of Wall Street analysts, who expected EPS of 68 cents per share and quarterly revenue of $1.67 billion, according to Zacks Consensus Estimate.

Schneider’s truckload segment revenue for Q2 increased 20% to $571.6 million from $475.2 million the previous year, due primarily to Midwest Logistics Systems revenues, yield management and dedicated new business growth that was partially offset by lower network miles. Truckload revenue per truck per week increased 6% to $4,242.


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Income from operations for the segment increased 10% to $80.7 million from $73.6 million last year. Revenue growth more than offset higher driver-related and dedicated startup costs, as well as lower gains on sales of revenue equipment, Schneider said.

The logistics segment saw Q2 revenue increase 21% to $521.3 million from $430.7 million the prior year, on increased revenue per order, higher volumes within brokerage offerings and incremental port revenues. Income from operations for the segment soared 178% to $47.3 million from $17 million last year, as gross margin management throughout the quarter enabled growth in net revenue per order, Schneider said.

The intermodal segment saw Q2 revenue rise 22% to $335.1 million from $274 million last year, driven primarily by revenue per order and volume growth amid continued rail and customer fluidity challenges. Schneider noted that its container count grew 28% compared with a year ago.

Income from operations for the intermodal segment increased 21% to $42.3 million from $34.9 million. This was primarily due to favorable revenue management actions that were partially offset by increased rail and dray driver costs.

Schneider had a total of $211.8 million outstanding on various debt instruments by the end of the quarter, compared with $270.3 million as of Dec. 31. The company had cash and cash equivalents of $331 million compared with $244.8 million at year-end.

Schneider ranks No. 8 on the Transport Topics Top 100 list of the largest for-hire carriers in North America, and No. 19 on the TT list of the Top 100 largest logistics companies.

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