The Pricing Landscape Improves in Schneider’s 3Q, but Rising Driver Wages a Headwind
Multi-modal transport company Schneider National’s third-quarter revenue before fuel surcharges grew 4.6% year over year. Revenue came in slightly below our expected run rate due to a smaller-than-expected average fleet size in the core truckload segment. This more than offset better-than-anticipated truckload pricing trends, which are benefiting from firming capacity. Total profitability also came in slightly shy of our forecast because of driver-related cost increases and hurricane-related out...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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