Unfavorable Truckload Business Mix Weighs on Schneider’s 1Q Results; No Change to FVE
Multi-modal transportation specialist Schneider National’s total revenue before fuel surcharges grew 6% year over year. Revenue growth came in slightly behind our forecast due to slowing secondary-lane contractual volumes in the firm’s asset-based truckload shipping division, though a strong showing in the intermodal segment partly offset that shortfall. Relative to the same period last year, top-line growth was driven by intermodal pricing strength and solid truck brokerage load volume. Schneid...Schneider National is a transportation and logistics services company providing a portfolio of truckload, intermodal, and logistics solutions and operating for-hire trucking fleets. The company categorizes its operations into the following segments: truckload, which consists of freight transported and delivered with equipment by the company's company-employed drivers in company trucks and by owner-operators; intermodal, which consists of door-to-door container on flat car service by a combination of rail and over-the-road transportation; and logistics, which consists of non-asset freight brokerage services, supply chain services (including third-party businesses), and import/export services.
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