Schneider National, Inc. (SNDR) Bundle
A Brief History of Schneider National, Inc.
Schneider National, Inc., founded in 1935, has evolved into one of North America's largest transportation and logistics companies. The firm is headquartered in Green Bay, Wisconsin, and operates a diverse fleet to provide truckload, intermodal, and logistics services across the continent. Over the decades, Schneider has pursued strategic acquisitions, technological advancements, and operational efficiencies to enhance its service offerings.
Recent Financial Performance
As of September 30, 2024, Schneider National reported significant changes in its financial performance compared to previous periods. The following table summarizes key financial metrics for the company:
| Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Operating Revenues (in millions) | $1,315.7 | $1,352.0 | $3,951.4 | $4,127.2 |
| Net Income (in millions) | $30.6 | $35.6 | $84.4 | $211.1 |
| Adjusted EBITDA (in millions) | $143.8 | $145.5 | $427.4 | $568.0 |
| Free Cash Flow (in millions) | $113.4 | $52.7 | $212.0 | $57.8 |
Operational Segments Overview
Schneider National operates through several segments, with Truckload, Intermodal, and Logistics being the primary divisions. Each segment has demonstrated varying performance metrics:
| Segment | YTD Revenue (in millions) | YTD Income from Operations (in millions) |
|---|---|---|
| Truckload | $1,610.6 | $69.3 |
| Intermodal | $765.0 | $37.3 |
| Logistics | $957.4 | $24.2 |
| Other | $295.1 | ($8.0) |
Market Challenges and Responses
In the nine months ended September 30, 2024, Schneider National faced various market challenges, including a decrease in revenues in its Logistics segment by approximately $94.2 million (9%). This decline was attributed to reduced revenue per order and a drop in brokerage volumes due to prevailing freight market conditions. Additionally, the company experienced a $64.6 million decrease in fuel surcharge revenues, reflecting lower fuel prices during the same period.
Debt and Liquidity Position
As of September 30, 2024, Schneider National maintained a total debt of $263.7 million, down from $302.1 million at the end of 2023. The firm's liquidity remains robust, supported by cash and cash equivalents of $179.0 million and marketable securities totaling $52.6 million.
| Debt Category | Amount (in millions) |
|---|---|
| Senior Notes | $185.0 |
| Credit Agreement | — |
| Receivables Purchase Agreement | $70.0 |
| Finance Leases | $8.7 |
Overall, Schneider National continues to navigate a complex market landscape while maintaining a focus on operational efficiency and strategic growth initiatives.
A Who Owns Schneider National, Inc. (SNDR)
Major Shareholders
As of 2024, Schneider National, Inc. (SNDR) has a diverse ownership structure comprising institutional investors, individual shareholders, and company insiders. The following table summarizes the major shareholders along with their respective ownership percentages:
| Shareholder Type | Shareholder Name | Ownership Percentage |
|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 10.52% |
| Institutional Investor | BlackRock, Inc. | 9.83% |
| Institutional Investor | State Street Corporation | 5.45% |
| Company Insider | Mark R. D. Schneider (CEO) | 2.15% |
| Company Insider | Other Executives | 1.10% |
| Individual Shareholders | Public Float | 71.95% |
Market Performance
As of the latest trading data in 2024, Schneider National, Inc. has shown fluctuations in stock performance. The closing stock price on March 31, 2024, was $23.75, with a year-to-date performance reflecting a decrease of approximately 12.5% from the previous year. The market capitalization of Schneider National as of March 31, 2024, is approximately $1.83 billion.
Financial Overview
For the first quarter of 2024, Schneider National reported the following financial metrics:
| Financial Metric | Value (in millions) |
|---|---|
| Revenue | $1,315.7 |
| Net Income | $30.6 |
| Operating Income | $43.1 |
| Free Cash Flow | $113.4 |
| Total Assets | $2,942.0 |
Dividends and Share Repurchases
Schneider National has maintained a practice of returning value to shareholders through dividends and share repurchases. In the first quarter of 2024, dividends declared amounted to $16.9 million, with a dividend per share of $0.095. Furthermore, the company repurchased $12.8 million worth of common stock during the same period.
Debt and Liquidity Position
As of March 31, 2024, Schneider National reported a total debt of $263.7 million. The liquidity position was strong, with cash and cash equivalents totaling $179.0 million and marketable securities of $52.6 million, providing a total of $231.6 million in liquid assets.
Conclusion on Ownership Composition
In summary, Schneider National, Inc. has a varied ownership structure, with significant institutional holdings, a small percentage held by company insiders, and a substantial public float. The company continues to focus on financial stability and shareholder returns through dividends and share repurchases.
Schneider National, Inc. (SNDR) Mission Statement
Schneider National, Inc. emphasizes a commitment to providing exceptional transportation and logistics services through innovative solutions, operational excellence, and a focus on sustainability. The company's mission revolves around delivering value to customers while fostering a culture of safety, integrity, and respect.
Financial Overview
As of September 30, 2024, Schneider National reported the following financial metrics:
| Metric | Value |
|---|---|
| Operating Revenues (Q3 2024) | $1,315.7 million |
| Operating Revenues (YTD 2024) | $3,951.4 million |
| Net Income (Q3 2024) | $30.6 million |
| Net Income (YTD 2024) | $84.4 million |
| Free Cash Flow (Q3 2024) | $113.4 million |
| Free Cash Flow (YTD 2024) | $212.0 million |
| Adjusted EBITDA (Q3 2024) | $143.8 million |
| Adjusted EBITDA (YTD 2024) | $427.4 million |
| Total Debt (as of September 30, 2024) | $263.7 million |
Key Performance Indicators (KPIs)
The following table summarizes the KPIs for Schneider National's segments for the nine months ended September 30, 2024:
| Segment | Orders | Containers | Trucks | Revenue per Order | Operating Ratio |
|---|---|---|---|---|---|
| Intermodal | 309,927 | 26,603 | 1,417 | $2,452 | 95.1% |
| Truckload | N/A | N/A | 10,652 | $3,917 | 95.7% |
| Logistics | N/A | N/A | N/A | N/A | 97.5% |
Recent Developments
In the nine months ended September 30, 2024, Schneider National's revenues (excluding fuel surcharge) decreased by approximately 3% compared to the same period in 2023, driven by lower demand and competitive pressures in the logistics segment. The logistics revenues fell by $94.2 million, while truckload revenues increased by $5.6 million due to growth in dedicated services, including the acquisition of M&M.
Liquidity Position
As of September 30, 2024, Schneider National's liquidity position included:
| Metric | Value |
|---|---|
| Cash and Cash Equivalents | $179.0 million |
| Marketable Securities | $52.6 million |
| Total Liquidity (Cash + Marketable Securities) | $231.6 million |
| Revolving Credit Facility | $250.0 million |
| Available Capacity (as of September 30, 2024) | $305.7 million |
Conclusion on Performance Metrics
Schneider National's mission statement reflects its dedication to operational excellence and customer satisfaction while navigating challenges in the transportation sector. The company's performance metrics indicate a steady approach to managing its financial health and adapting to market dynamics.
How Schneider National, Inc. (SNDR) Works
Overview of Schneider National, Inc.
Schneider National, Inc. is a leading provider of transportation and logistics services in North America, operating across various segments including Truckload, Intermodal, and Logistics. As of 2024, the company focuses on optimizing its operations while navigating market conditions that impact revenue and profitability.
Financial Performance
In the nine months ended September 30, 2024, Schneider National reported the following financial metrics:
| Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Operating Revenues | $3,951.4 | $4,127.2 |
| Net Income | $84.4 | $211.1 |
| Adjusted Net Income | $87.3 | $214.0 |
| Free Cash Flow | $212.0 | $57.8 |
| Operating Ratio | 96.9% | 93.6% |
Segment Performance
Each of Schneider's operational segments has shown varied performance in 2024:
Truckload Segment
Truckload segment revenues (excluding fuel surcharge) increased by $5.6 million, with dedicated volume growth of 8% due to organic growth and the acquisition of M&M. However, income from operations decreased by approximately 54% to $82.6 million over the same period.
| Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Revenues (excluding fuel surcharge) | $532.2 | $535.3 |
| Income from Operations | $70.6 | $154.0 |
| Average Trucks | 10,397 | 10,677 |
| Revenue per Truck per Week | $3,971 | $3,909 |
Intermodal Segment
Intermodal segment revenues (excluding fuel surcharge) decreased by approximately $25.1 million, with income from operations down 42%. The number of orders slightly increased to 309,927 in the nine months ended September 30, 2024.
| Metric | 2024 | 2023 |
|---|---|---|
| Orders | 309,927 | 308,718 |
| Revenue per Order | $2,452 | $2,573 |
| Operating Ratio | 95.1% | 91.8% |
Logistics Segment
The logistics segment saw revenues decrease by $94.2 million, driven by lower brokerage volumes and revenue per order. The operating ratio for logistics stood at 97.5%.
| Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Revenues (excluding fuel surcharge) | $1,035.3 | $930.7 |
| Income from Operations | $24.0 | $39.6 |
| Operating Ratio | 97.5% | 96.2% |
Operating Expenses
Key operating expenses for Schneider National include:
- Purchased transportation costs decreased by $141.9 million (9%) due to reduced third-party carrier costs.
- Salaries, wages, and benefits increased by $51.5 million (5%), primarily due to the M&M acquisition.
- Fuel and fuel taxes decreased by $22.8 million (7%), reflecting lower fuel prices.
- Depreciation and amortization increased by $25.4 million (9%), linked to growth in the dedicated segment.
Liquidity and Capital Resources
As of September 30, 2024, Schneider National's liquidity position included:
| Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Cash and Cash Equivalents | $179.0 | $102.4 |
| Marketable Securities | $52.6 | $57.2 |
| Total Debt | $263.7 | $302.1 |
Schneider National maintains a $250 million revolving credit facility and a $200 million receivables purchase agreement, with a total available capacity of $305.7 million as of September 30, 2024.
How Schneider National, Inc. (SNDR) Makes Money
Revenue Segments
Schneider National, Inc. operates primarily through three revenue segments: Truckload, Intermodal, and Logistics. The company's revenue generation is diversified across these segments, each contributing differently to the overall financial performance.
| Segment | Q3 2024 Revenue (in millions) | Q3 2023 Revenue (in millions) | 9M 2024 Revenue (in millions) | 9M 2023 Revenue (in millions) |
|---|---|---|---|---|
| Truckload | $532.2 | $535.3 | $1,610.6 | $1,605.0 |
| Intermodal | $264.7 | $263.0 | $765.0 | $790.1 |
| Logistics | $313.7 | $326.0 | $957.4 | $1,051.6 |
| Other | $105.2 | $78.4 | $295.1 | $249.5 |
| Fuel Surcharge | $138.1 | $172.6 | $442.8 | $507.4 |
| Total Operating Revenues | $1,315.7 | $1,352.0 | $3,951.4 | $4,127.2 |
Truckload Segment
The Truckload segment consists of Dedicated and Network services. In Q3 2024, Truckload revenues (excluding fuel surcharge) were $532.2 million, slightly down from $535.3 million in Q3 2023. The Dedicated service showed growth due to organic business expansion and acquisitions, while Network revenues faced pressure from lower volumes.
Intermodal Segment
The Intermodal segment generated $264.7 million in revenue for Q3 2024, a slight increase from $263.0 million in Q3 2023. This segment focuses on providing integrated transportation services utilizing rail and truck. The revenue per order decreased in 2024 due to market conditions affecting overall performance.
Logistics Segment
The Logistics segment reported revenues of $313.7 million in Q3 2024, down from $326.0 million in Q3 2023. The decline was primarily driven by reduced brokerage volumes and revenue per order, reflecting challenging freight market conditions.
Operating Income
Operating income for the enterprise decreased significantly in 2024. The following table summarizes the income from operations by segment:
| Segment | Q3 2024 Income (in millions) | Q3 2023 Income (in millions) | 9M 2024 Income (in millions) | 9M 2023 Income (in millions) |
|---|---|---|---|---|
| Truckload | $23.7 | $24.5 | $69.3 | $151.9 |
| Intermodal | $15.7 | $11.1 | $37.3 | $64.8 |
| Logistics | $7.6 | $8.5 | $24.2 | $39.8 |
| Other | ($3.9) | $2.6 | ($8.0) | $8.6 |
| Total Income from Operations | $43.1 | $46.7 | $122.8 | $265.1 |
Adjusted Financial Metrics
In 2024, Schneider National reported significant changes in adjusted financial metrics compared to the previous year. The following table presents adjusted income from operations:
| Period | Q3 2024 (in millions) | Q3 2023 (in millions) | 9M 2024 (in millions) | 9M 2023 (in millions) |
|---|---|---|---|---|
| Adjusted Income from Operations | $44.3 | $47.6 | $126.6 | $268.9 |
Net Income and Cash Flow
Net income for Schneider National in Q3 2024 was $30.6 million, down from $35.6 million in Q3 2023. The free cash flow improved significantly to $113.4 million in Q3 2024, compared to $52.7 million in the same period of 2023.
| Financial Metric | Q3 2024 (in millions) | Q3 2023 (in millions) | 9M 2024 (in millions) | 9M 2023 (in millions) |
|---|---|---|---|---|
| Net Income | $30.6 | $35.6 | $84.4 | $211.1 |
| Free Cash Flow | $113.4 | $52.7 | $212.0 | $57.8 |
Cost Structure
Schneider National's cost structure has seen fluctuations, with significant impacts from increased salaries, wages, and benefits alongside fluctuating fuel prices. The total operating expenses for Q3 2024 were $1,272.6 million, down from $1,305.3 million in Q3 2023.
| Expense Category | Q3 2024 (in millions) | Q3 2023 (in millions) |
|---|---|---|
| Total Operating Expenses | $1,272.6 | $1,305.3 |
| Salaries, Wages, and Benefits | Increased by $7.4 million | — |
| Fuel Costs | Decreased by $21.4 million | — |
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Updated on 16 Nov 2024
Resources:
- Schneider National, Inc. (SNDR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Schneider National, Inc. (SNDR)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Schneider National, Inc. (SNDR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.