Schneider National, Inc. (NYSE: SNDR) reported Q1 EPS of $0.21, $0.11 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.23 billion.

• Operating revenues of $1.2 billion, an increase of 5% compared to first quarter 2018
• Net income of $36.9 million, a decrease of 22% compared to first quarter 2018
• Diluted earnings per share of $0.21, compared to first quarter 2018 of $0.27

“Compared to first quarter 2018, our Truckload segment experienced declines in revenue and earnings, while our Intermodal segment grew revenue despite adverse weather and our Logistics segment delivered revenue growth and expanded margins,” noted Mark Rourke, Chief Executive Officer of Schneider.

“Our Truckload operations were impacted by a decline in contractual business which was compounded by weather conditions in our core Midwest and East markets,” Rourke continued. “This resulted in lower productivity and in costs which did not align with the demand environment. The issues that impacted the first quarter were either temporary or mostly in our control to address, which we are aggressively doing.”

“In our Truckload segment, we are encouraged by our business wins, which will address the volume issue, and by the effectiveness of our initiatives to adjust our cost position. In addition, our Intermodal and Logistics businesses are well positioned for continued year-over-year growth. As such, our outlook for the remainder of 2019 remains largely intact.”

GUIDANCE:

Schneider National, Inc. sees FY2019 EPS of $1.50-$1.60, versus the consensus of $1.69.

Rourke commented, “Based primarily on first quarter results, we are updating our full year 2019 adjusted diluted earnings per share guidance to $1.50-$1.60. First quarter new business awards across all three segments, and the corrective cost actions we have set in place are benefiting the second quarter. Regarding net capital expenditures, our full year guidance remains at approximately $340 million.”

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