NYSE$SNDR

Schneider National Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Schneider National's Q1 2020 results reflected the integral role of its services in meeting consumer needs during a challenging time.

Schneider National reported Q1 2020 operating revenues of $1.1 billion and income from operations of $54.9 million. Diluted earnings per share were $0.25, and adjusted diluted earnings per share were $0.24. The company's results were impacted by the COVID-19 pandemic, but its diverse service portfolio and strong balance sheet allowed it to navigate the situation effectively.

  • Operating revenues were $1.1 billion, a 6% decrease compared to Q1 2019.
  • Income from operations increased by 7% to $54.9 million.
  • Diluted earnings per share were $0.25, a 19% increase year-over-year.
  • The company suspended its full-year 2020 EPS guidance due to ongoing uncertainty regarding the timing and pace of recovery.

Headline financials

Total Revenue

$1.12B

Previous: $1.19B-6.3%
EPS (adj)

$0.24

Previous: $0.21+14.3%
Truckload Rev per Truck per Week

$3.56K

Previous: $3.61K-1.3%
Total Truckload Avg Trucks

10.2K

Previous: 11.6K-11.8%
Truckload Avg Company Trucks

7.3K

Previous: 8.7K-16.1%
Truckload Avg Owner-Op Trucks

2.9K

Previous: 2.9K+1.4%
Truckload Trailers

35.7K

Previous: 37.7K-5.4%
Intermodal Orders

106.6K

Previous: 103.3K+3.2%
Intermodal Containers

22.0K

Previous: 22.0K-0.0%
Intermodal Trucks

1.5K

Previous: 1.5K+1.5%
Intermodal Rev per Order

$2.17K

Previous: $2.27K-4.3%
Capital Expenditures

-$22.2M

Previous: -$50.1M+55.7%
Free Cash Flow

$21.6M

Previous: -$13.2M+263.6%
Net Income

$43.8M

Previous: $36.9M+18.7%
Operating Income

$54.9M

Previous: $51.5M+6.6%
Gross Profit

$848M

Previous: $721M+17.7%
Cash & Equivalents

$601M

Previous: $441M+36.2%
Total Assets

$3.71B

Previous: $3.87B-4.0%
Stock-Based Comp

$2.4M

Previous: $6.1M-60.7%

Revenue & EPS history

Schneider National · Revenue · Quarterly

$1.12B

Q1 2020-6.3%vs Q1 2019
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Schneider National · $1.12B total across 6 segments · Q1 2020

  • Truckload
    $469M
  • Logistics
    $240M
  • Intermodal
    $238M
  • Fuel surcharge
    $103M
  • Other
    $99.4M
  • Inter-segment eliminations
    -$30.3M

Forward guidance

Given the ongoing uncertainty regarding the timing and pace of recovery, the company is suspending its full year 2020 EPS guidance. Capital expenditure investments in replacement equipment are maintained, while discretionary projects are curtailed and technology spend is accelerated. The updated full year 2020 net capital expenditure guidance is approximately $260 million.

Tailwinds

  • Truckload and intermodal freight volumes stabilized in late April after declining earlier in the month.
  • Brokerage has experienced improved net revenue.
  • Some impacted customers and suppliers are in the process of reopening or ramping up their operations.
  • Maintaining investments in replacement equipment.
  • Accelerating technology spend.

Headwinds

  • Largest impacts of the virus-driven economic disruption on business volumes expected in the second quarter.
  • Ongoing uncertainty regarding the timing and pace of recovery.
  • Suspending full year 2020 EPS guidance.
  • Curtailing several discretionary projects.
  • Truckload volumes are down upper single-digit percentages from the prior year (late April).

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.1%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+2.5%

Avg return

30 days after

61%

25 / 41 earnings

Positive

+8.2%

Q4 2022

Best reaction

-12.7%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.3%-1.1%+16.3%
Q4 2025-9.7%+2.1%-4.5%
Q3 2025-10.5%-3.1%-0.1%
Q1 2025-1.0%+4.7%+6.8%
Q4 2024+1.4%-0.8%-11.4%
Q3 2024+4.9%+9.5%+8.2%
Q2 2024+2.8%+4.0%+0.7%
Q1 2024+4.5%+5.1%+6.6%
Q4 2023-1.3%-1.2%-6.5%
Q3 2023-12.7%-12.9%-5.3%
Q2 2023+0.7%-0.3%-5.4%
Q1 2023+2.4%+3.2%+2.7%
Q4 2022+8.2%+11.3%+6.6%
Q3 2022-1.7%+1.3%+16.1%
Q2 2022+5.1%+0.1%-0.5%
Q1 2022+3.4%+6.9%+6.5%
Q4 2021-3.1%-1.9%+2.8%
Q3 2021+1.2%+2.9%+3.0%
Q2 2021+6.1%+3.8%+7.8%
Q1 2021+2.1%+6.7%+3.2%
Q4 2020+1.5%+1.8%+14.6%
Q3 2020-3.4%+1.4%-6.7%
Q2 2020+0.4%+2.0%+8.6%
Q1 2020+0.1%-3.7%+8.5%
Q4 2019+3.8%+1.2%-20.7%
Q3 2019+4.3%+5.4%-0.1%
Q2 2019+0.6%-1.1%+0.7%
Q1 2019+2.5%-1.4%-17.2%
Q4 2018+0.4%+4.4%+1.1%
Q3 2018+0.0%+2.9%+2.1%
Q2 2018+4.4%+4.9%+3.6%
Q1 2018-0.9%-0.3%+10.3%
Q4 2015-5.4%-5.5%-4.6%
Q4 2017-0.7%-7.3%-11.8%
Q3 2016+1.1%-0.9%+9.0%
Q3 2017-1.9%-2.7%+6.5%
Q2 2016-1.4%-1.3%+2.9%
Q2 2017-1.4%-1.3%+2.9%
Q1 2016-2.2%-2.6%+12.3%
Q4 2016-2.2%-2.6%+12.3%
Q1 2017+1.0%+2.1%+16.1%

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