Schneider National reports Q1 adjusted EPS 16c, consensus 14c

Reports Q1 revenue $1.4B, consensus $1.41B. “We delivered results for the quarter in line with our expectations while navigating the fluid operating environment. Revenues excluding fuel surcharge of nearly $1.3 billion were the second highest for a first quarter in our history, and all our reportable segments improved revenues, earnings, and margin year over year. As the quarter progressed, increasing economic uncertainty lowered consumer sentiment and market expectations. Our multimodal platform of services provides customers with optionality and has enabled us to achieve results despite the economic and market challenges. In Truckload, we increased Dedicated truck count, which includes our recently acquired Cowan business, and we continued to execute our plan to restore Network to profitability. In Intermodal, we grew our volumes and, combined with our cost and productivity actions, this led to the third consecutive quarter of year over year margin improvement. In Logistics, our diversification of service offerings and effective net revenue management, enabled by our industry-leading technology, allowed us to improve earnings and margin compared to a year ago despite lower volumes. We are focused on delivering a superior portfolio of services, driving sustainable growth in revenue, restoring margins, and enhancing long-term shareholder value.”,” said Mark Rourke, President and Chief Executive Officer of Schneider.