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Schneider National, Inc. (SNDR) Reports In-Line Q3 EPS, Revenues Beat; Offers FY20 EPS Mid-Point Guidance Below Consensus

October 29, 2020 9:11 AM EDT

Schneider National, Inc. (NYSE: SNDR) reported Q3 EPS of $0.31, in-line with the analyst estimate of $0.31. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.12 billion.

  • Diluted Earnings Per Share $0.25; $0.11 in 2019
  • Adjusted Diluted Earnings per Share $0.31; $0.32 in 2019
  • Special Dividend of $2.00 per Share

“During the third quarter, recovery of freight volumes accelerated and demand in nearly all geographic markets exceeded capacity,” said Mark Rourke, Chief Executive Officer and President of Schneider. “In our Truckload and Intermodal segments, operating ratio improved sequentially as a result of increased volume, our targeted yield management actions, and our cost management focus. In our Truckload segment, network volumes were constrained by tight driver capacity, yet sequential revenue growth was achieved in our dedicated operations. In our Intermodal segment, network balance improved throughout the quarter and further volume growth is expected in the fourth quarter. In our Logistics segment, we grew third quarter revenue 20% year over year and improved revenue per order as the quarter progressed by effectively matching loads with third-party capacity.”

“We believe market demand outpacing aggregate industry supply is a durable condition that will last for multiple quarters,” Rourke continued. “We expect solid fundamentals in the fourth quarter of 2020, positioning us well as we enter 2021.”

GUIDANCE:

Schneider National, Inc. sees FY2020 EPS of $1.18-$1.22, versus the consensus of $1.22.

“The tight market conditions prevalent during the third quarter are anticipated to continue well beyond the fourth quarter, as demand is strong and the driver shortage persists,” Rourke stated. “This operating environment, coupled with internal improvement initiatives, are expected to result in full year 2020 adjusted diluted EPS of $1.18 - $1.22. In addition, our full year 2020 guidance for net capital expenditures is approximately $250 million.”

For earnings history and earnings-related data on Schneider National, Inc. (SNDR) click here.



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