Ken Hoexter

Brian Ossenbeck

Chris Wetherbee

Daniel Imbro

Ravi Shanker

Ari Rosa

Bascome Majors

David Hicks

Jason Seidl

J. Bruce Chan

Jonathan Chappell

Scott Group

Thomas Wadewitz

Ariel Rosa

Bruce Chan

Christian Wetherbee

Dan Moore

Joe Enderlin

Jon Chappell

Jordan Alliger

Ravi Shankar

Tom Wadewitz

- Schneider National reports **sub-seasonal August volumes** and anticipates an earlier ramp-down for intermodal peak, though truck demand has improved with **mid to single-digit contractual increases**.  **[1692063_2139410_0]** 
- The company is strategically expanding its dedicated business, with **70% of its total trucks** in this segment and maintaining **90+% retention rates**, noting an elevated percentage of private fleet conversions in its pipeline.  **[1692063_2139410_1]** **[1692063_2139410_2]** **[1692063_2139410_3]** 
- Management highlights structural capacity constraints in the industry due to regulatory enforcement and new truck orders not meeting replacement levels.  **[1692063_2139410_4]** 
- Despite **flat intermodal pricing**, Schneider has grown margins through cost and productivity initiatives, particularly by expanding its presence in the Mexico market.  **[1692063_2139410_4]** 
- Schneider is leveraging AI for a **61% improvement in carrier broker matching productivity** and plans for inorganic growth every **12 to 18 months**, supported by a **0.6 times levered** balance sheet, while shifting its alternative fuel focus away from EVs for the next **24 months**.  **[1692063_2139410_7]** **[1692063_2139410_9]**

Schneider National Discusses Demand Trends, Strategic Focus, and M&A at Morgan Stanley Conference

- Schneider National is strategically **leaning into its Dedicated business**, with **70% of its total trucks** in this configuration, citing its **three- to five-year contracts** and consistent revenue/earnings stream, and expects growth with the pipeline returning to **2024 levels**.  **[1692063_2139382_2]** **[1692063_2139382_3]** 
- The company observes a **tightening in industry capacity** due to increased enforcement of regulations (e.g., B1 driver Mexico situation, English language requirements) and new truck orders remaining **below replacement levels**.  **[1692063_2139382_5]** 
- In its Intermodal segment, despite **flat pricing**, Schneider has **grown margins** through structural changes and productivity initiatives, with a focus on expanding into new markets like Mexico, where it holds a **6% market share**.  **[1692063_2139382_6]** **[1692063_2139382_7]** 
- Schneider's Logistics business prioritizes **profitability over growth** and has achieved a **61% improvement in productivity** year-over-year in carrier-broker matching through automation and AI.  **[1692063_2139382_9]** **[1692063_2139382_11]** 
- The company maintains a **strong balance sheet with 0.6x leverage** and is actively pursuing programmatic and potentially transformative acquisitions in strategic growth areas like Dedicated, Intermodal, and Logistics.  **[1692063_2139382_13]**

Schneider National Provides Business Strategy and Market Insights

- Schneider National's CEO Mark Rourke indicated that the expected **Q2 pull-forward "air pocket" did not materialize**.  **[1692063_2139362_1]**  While July volumes finished above seasonal expectations, August was characterized as steady but potentially **sub-seasonal**.  **[1692063_2139362_1]**  The company anticipates intermodal demand to **ramp down sooner than typical** in Q4 due as a result of pull-forward.  **[1692063_2139362_1]** 
- The company is strategically **leaning into dedicated business**, with **70% of its total trucks** (organic and acquired) now in dedicated configurations under **3-5 year contracts**.  **[1692063_2139362_2]**  Despite experiencing **more customer churn this year**, retention rates remain **above 90%**  **[1692063_2139362_3]** **[1692063_2139362_4]** , and the dedicated business pipeline is back to 2024 levels, with an elevated percentage of **private fleet conversions**.  **[1692063_2139362_3]** **[1692063_2139362_5]** 
- Schneider National observes a significant shift in the truckload market, with private fleets growing to **55%** of the market.  **[1692063_2139362_4]**  However, this growth is stopping for most, creating an opportunity for dedicated providers.  **[1692063_2139362_4]**  Industry capacity is being impacted by stricter enforcement of regulations, such as the B1 driver Mexico situation, which could affect **upwards of 20,000 drivers**  **[1692063_2139362_5]** , and new truck orders remaining below replacement levels.  **[1692063_2139362_5]** 
- Despite **flat pricing** in intermodal, Schneider National has **grown margins** through structural changes and productivity initiatives.  **[1692063_2139362_7]**  The company is actively implementing cost initiatives across all segments, which contributed to a **60% sequential improvement in truckload earnings from Q1 to Q2**.  **[1692063_2139362_7]** 
- The company maintains an inorganic growth strategy, aiming for acquisitions every **12-18 months** in strategic areas like dedicated and logistics.  **[1692063_2139362_13]**  With a strong balance sheet at **0.6 times levered**, Schneider National is open to both programmatic and potentially transformative acquisitions that enhance returns.  **[1692063_2139362_13]**

Schneider National Discusses Strategic Growth and Market Dynamics

- Schneider National observes **sub-seasonal August volumes** and anticipates a potential **earlier ramp-down for intermodal** compared to typical seasonality.  **[1692063_2139301_0]** 
- The company is strategically **leaning into dedicated business**, with **70% of its total trucks** in this configuration, and sees a **strong pipeline for growth**, including private fleet conversions, despite recent churn.  **[1692063_2139301_1]** **[1692063_2139301_2]** **[1692063_2139301_3]** 
- Management notes a **tightening of industry capacity** driven by increased regulatory enforcement and new truck orders falling below replacement levels.  **[1692063_2139301_3]** **[1692063_2139301_4]** 
- Schneider is focused on **cost initiatives and productivity improvements** across its segments, which have structurally improved margins, and plans for **inorganic growth every 12 to 18 months** in strategic areas like dedicated, intermodal, and logistics, leveraging its **0.6x levered balance sheet**.  **[1692063_2139301_5]** **[1692063_2139301_9]** 
- The company is actively deploying **technology and AI** to enhance productivity, such as a **61% improvement in carrier-broker matching productivity** year-over-year, and is conducting pilots for **autonomous trucks** and **electric vehicles**, with a future focus on natural gas and renewable diesel for alternative fuels.  **[1692063_2139301_7]** **[1692063_2139301_8]** **[1692063_2139301_9]**

Schneider National Discusses Market Outlook, Strategic Growth, and Operational Initiatives

Schneider National (SNDR)