Schneider National (SNDR) Company Report

Schneider observes a stable but sub-seasonal demand environment in Q4 2025, with customers showing caution due to economic uncertainties, but anticipates a more constructive market in 2026 driven by supply-side rationalization and potential industrial economic momentum.
The company is pursuing differentiated growth, particularly in its dedicated truckload business with a strong pipeline for specialty equipment and acquisitions, and reported 10% year-over-year growth in intermodal volume in Q3 2025.
Schneider has achieved $40 million in annual savings from cost-to-serve initiatives, including a 6% reduction in non-driver headcount and leveraging automation and AI to improve efficiency, with plans to continue these efforts into 2026.
With a strong balance sheet, reflected by 0.4x leverage as of the end of September, Schneider plans to prioritize organic growth, pursue opportunistic acquisitions, and is considering share repurchases due to perceived undervaluation.

Nov 12, 2025, 7:10 PM

Transcript

Schneider (SNDR) Announces Q3 2025 Results and Updates Full-Year Guidance

SNDR

Earnings

Guidance Update

Demand Weakening

Schneider (SNDR) reported Q3 2025 enterprise revenues (excluding fuel surcharge) of $1.3 billion, a 10% increase year-over-year, but adjusted income from operations decreased 13% to $38 million, and adjusted diluted EPS was $0.12. These results were impacted by $16 million more in claims-related costs than anticipated, which are not expected to recur in Q4.
The company updated its full-year 2025 adjusted EPS guidance to approximately $0.70 and reduced its net CapEx guidance to approximately $300 million.
Despite a softer freight market with sub-seasonal trends expected to persist, Schneider anticipates significant supply-side rationalization in 2026 due to regulatory changes and truck production trends, potentially exceeding the impact of the 2017 ELD mandate.
Operational improvements include 10% volume growth in Intermodal and a 6% reduction in non-driver headcount since the start of the year, contributing to a $40 million structural cost savings target.

Oct 30, 2025, 3:00 PM

Transcript

Schneider (SNDR) Reports Q3 2025 Results and Updates Full-Year Guidance

SNDR

Earnings

Guidance Update

Demand Weakening

Schneider (SNDR) reported Q3 2025 enterprise revenues (excluding fuel surcharge) of $1.3 billion, up 10% year-over-year, but adjusted income from operations decreased 13% to $38 million, and adjusted diluted EPS was $0.12.
The Q3 2025 results were impacted by $16 million more in claims-related costs than expected, primarily due to unfavorable developments on three prior-year claims, which are not anticipated to repeat in the fourth quarter.
The company updated its full-year 2025 adjusted diluted EPS guidance to approximately $0.70 and reduced its net CapEx guidance to approximately $300 million.
Management noted that while market conditions remain soft, new dynamics such as English language proficiency enforcement, non-domicile CDL renewals, and Class 8 truck production below replacement levels are expected to drive supply-side rationalization potentially greater than the 2017 ELD mandate's impact.
Strategic efforts include structural improvements in revenue, productivity actions (e.g., a $40 million cost reduction target and a 6% reduction in non-driver headcount), and capital discipline, with Intermodal volume growth of 10% and continued growth in Logistics power-only revenue.

Oct 30, 2025, 3:00 PM

Transcript

Schneider National Inc. Reports Q3 2025 Results and Updates Full-Year Guidance

SNDR

Earnings

Guidance Update

Demand Weakening

Q3 2025 enterprise revenues (excluding fuel surcharge) increased 10% year-over-year to $1.3 billion, with adjusted diluted EPS at $0.12.
The company's full-year 2025 adjusted diluted EPS guidance is now approximately $0.70, and net CapEx is expected to be approximately $300 million.
Third-quarter results were negatively impacted by $16 million more than anticipated in claims-related costs.
SNDR is implementing a $40 million structural cost savings target and reduced its net CapEx guidance by pausing tractor orders.
Management anticipates a more constructive supply side for 2026 due to regulatory changes and other factors, while characterizing demand as "fairly steady, if unspectacular".

Oct 30, 2025, 3:00 PM

Transcript

Schneider Announces Q3 2025 Results

SNDR

Earnings

Guidance Update

Share Buyback

Schneider reported Q3 2025 revenues excluding fuel surcharge of $1,300 million, a 10% increase year-over-year, while Adjusted Diluted EPS decreased to $0.12 from $0.18 in Q3 2024.
The company's adjusted income from operations declined 13% year-over-year to $38 million, primarily due to $16 million greater than anticipated claims costs.
For the full year 2025, Schneider provided guidance of approximately $0.70 for adjusted diluted earnings per share and approximately $300 million for net capital expenditures.
As of September 30, 2025, Schneider had approximately $46.1 million remaining authorization under its $150 million share repurchase program and paid out $50.3 million in dividends year-to-date.

Oct 30, 2025, 3:00 PM

Presentation

Schneider National, Inc. Announces Third Quarter 2025 Results

SNDR

Earnings

Guidance Update

Demand Weakening

Schneider National, Inc. reported operating revenues of $1.5 billion for Q3 2025, an increase from $1.3 billion in Q3 2024, while income from operations decreased to $35.3 million from $43.1 million in the prior year period.
Diluted earnings per share for Q3 2025 were $0.11 and adjusted diluted earnings per share were $0.12, both lower than the respective $0.17 and $0.18 reported in Q3 2024.
The company updated its full-year 2025 adjusted diluted earnings per share guidance to approximately $0.70 and its net capital expenditures guidance to approximately $300 million.
Q3 2025 results were negatively impacted by claims costs that were $16.0 million, or $0.07 earnings per share, greater than previous guidance, and tempered market conditions.

Oct 30, 2025, 1:02 PM

8-K

Schneider National Announces Third Quarter 2025 Results

SNDR

Earnings

Guidance Update

Dividends

Schneider National reported operating revenues of $1.5 billion and diluted earnings per share of $0.11 for the third quarter of 2025.
Adjusted diluted earnings per share decreased to $0.12 in Q3 2025 from $0.18 in Q3 2024, impacted by $16.0 million in claims costs.
The company updated its full year 2025 guidance for adjusted diluted earnings per share to approximately $0.70 and net capital expenditures to approximately $300 million.
A $0.095 dividend was declared, payable on January 12, 2026, and $103.9 million in Class B shares have been repurchased under the stock repurchase program as of September 30, 2025.

Oct 30, 2025, 1:00 PM

Press Release

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

SNDR

Demand Weakening

New Projects/Investments

M&A

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.
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.
Management highlights structural capacity constraints in the industry due to regulatory enforcement and new truck orders not meeting replacement levels.
Despite flat intermodal pricing, Schneider has grown margins through cost and productivity initiatives, particularly by expanding its presence in the Mexico market.
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.

Sep 11, 2025, 11:50 PM

Transcript

Schneider National Provides Business Strategy and Market Insights

SNDR

New Projects/Investments

M&A

Revenue Acceleration/Inflection

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.
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.
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.
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.
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.

Sep 11, 2025, 11:50 PM

Transcript

Schneider National Discusses Strategic Growth and Market Dynamics

SNDR

Demand Weakening

New Projects/Investments

M&A

Schneider National's CEO Mark Rourke indicated that the expected Q2 pull-forward "air pocket" did not materialize. While July volumes finished above seasonal expectations, August was characterized as steady but potentially sub-seasonal. The company anticipates intermodal demand to ramp down sooner than typical in Q4 due as a result of pull-forward.
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. Despite experiencing more customer churn this year, retention rates remain above 90% , and the dedicated business pipeline is back to 2024 levels, with an elevated percentage of private fleet conversions.
Schneider National observes a significant shift in the truckload market, with private fleets growing to 55% of the market. However, this growth is stopping for most, creating an opportunity for dedicated providers. 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 , and new truck orders remaining below replacement levels.
Despite flat pricing in intermodal, Schneider National has grown margins through structural changes and productivity initiatives. The company is actively implementing cost initiatives across all segments, which contributed to a 60% sequential improvement in truckload earnings from Q1 to Q2.
The company maintains an inorganic growth strategy, aiming for acquisitions every 12-18 months in strategic areas like dedicated and logistics. With a strong balance sheet at 0.6 times levered, Schneider National is open to both programmatic and potentially transformative acquisitions that enhance returns.

Sep 11, 2025, 11:50 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Schneider National.

Q3 2025

Oct 30, 2025

→

Q2 2025

Jul 31, 2025

→

View All Transcripts

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Mark B. Rourke say about margins?What are Schneider National's strategic priorities?How is Schneider National positioned vs competitors?How did Schneider National do last quarter?

Schneider National (SNDR)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Mark B. Rourke

Darrell G. Campbell

James S. Filter

Robert M. Reich

Shaleen Devgun

Board Members

James L. Welch

James R. Giertz

John A. Swainson

Julie K. Streich

Jyoti Chopra

Kathleen M. Zimmerman

Mary P. DePrey

Robert M. Knight, Jr.

Robert W. Grubbs

Analyst Coverage

Christian Wetherbee

Ken Hoexter

Ariel Rosa

Brian Ossenbeck

Daniel Imbro

J. Bruce Chan

Jonathan Chappell

Ravi Shanker

Bascome Majors

David Hicks

Jason Seidl

Scott Group

Thomas Wadewitz

Dan Moore

Joe Enderlin

Jordan Alliger

Ravi Shankar

Tom Wadewitz

Latest news

Earnings Transcripts

Q3 2025

Q2 2025

Ask Fintool AI Agent