Schneider Reports Strong 2Q Earnings Growth
Schneider National Inc. on Aug. 2 reported net income jumped 30% to $65.8 million or 37 cents per share compared with $46.5 million or 27 cents per share a year ago.
The Green Bay, Wis.-based company said second-quarter revenue, excluding fuel surcharges, rose to $1.1 billion compared with $982 million last year. Operating income rose to nearly $92 million from $79 million, and operating revenue rose to nearly $1.24 billion from just below $1.1 billion.
“Our disciplined approach to pricing and dynamic freight selection, based on market conditions, will remain critical to successfully navigate in the robust market we see ahead,” CEO Chris Lofgren said in a statement.
Revenue increased in three of its key business units. Truckload revenue rose 5% to $568.7 million compared with $543 million, while intermodal revenue hit nearly $228 million from $194.3 million. The logistics division improved its revenue to nearly $250 million from $192 million.
“We continue to work with our customers to ensure productivity in all aspects of their supply chain. The foreseeable limited supply of driver capacity puts productivity at a premium,” Lofgren said.
Schneider’s operating ratio significantly improved to 86.5% from 94.2%. The operating ratio is a company’s operating expenses as a percentage of its revenue and is used to determine efficiency. The smaller the ratio, the greater the company’s ability to generate profit.
