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Schneider Q2 Earnings In Line, Revenues Lag, 2025 EPS View Updated

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Key Takeaways

  • {\"0\":\"SNDR posted Q2 EPS of 21 cents, in line with estimates, as revenue rose 8% but missed the consensus mark.\",\"1\":\"Truckload revenue rose 15% on Cowan Systems\' acquisition, while logistics profit slid 29% on lower volume.\",\"2\":\"SNDR trimmed its 2025 EPS view to $0.75$0.95, from the prior guided range of 75 cents-$1.00.\"}

Schneider National, Inc. (SNDR - Free Report) second-quarter 2025 earnings per share (EPS) of 21 cents matched the Zacks Consensus Estimate and the year-ago reported quarter figure. Operating revenues of $1.42 billion missed the Zacks Consensus Estimate by merely 0.2%. The top line improved 8% year over year. Revenues (excluding fuel surcharge) increased 10% year over year to $1.28 billion.

Income from operations (adjusted) grew 9% from the prior-year quarter’s level to $56.8 million.

Schneider National, Inc. Price, Consensus and EPS Surprise

Schneider National, Inc. Price, Consensus and EPS Surprise

Schneider National, Inc. price-consensus-eps-surprise-chart | Schneider National, Inc. Quote

SNDR’s Q2 Segmental Highlights

Truckload revenues (excluding fuel surcharge) for the second quarter of 2025 were $622.2 million, up 15% year over year, owing to a 23% increase in Dedicated volume, primarily due to the acquisition of Cowan Systems, partially offset by lower Network volume. Truckload revenue per truck per week was $3,964, up 1% year over year, owing to improved rate per mile. Dedicated average truck count was up 27% year over year, while Network average truck count was down 7%.

Truckload income from operations was$40.1 million in the second quarter of 2025, up 31% year over year, owing to the acquisition of Cowan Systems and improved revenue per truck per week mentioned above. Truckload operating ratio fell to 93.6% from 94.3% in the year-ago quarter.

Intermodal revenues (excluding fuel surcharge) for the second quarter of 2025 were $265.1 million, up 5% year over year, owing to volume growth of 5% and revenue per order of $2,443 was roughly flat year over year.

Intermodal income from operations for the second quarter of 2025 was $16.1 million, up 10% year over year. Apart from volume growth, lower purchased transportation costs contributed to the earnings growth. Intermodal operating ratio fell to 93.9% from 94.2% in the year-ago quarter.

Logistics revenues (excluding fuel surcharge) for the second quarter of 2025 came in at $339.6 million, up 7% year over year, owing to the acquisition of Cowan Systems, partially offset by lower brokerage volume and revenue per order.

Logistics income from operations for the second quarter of 2025 was $7.9 million, which fell 29% from the prior-year quarter owing to lower brokerage volume. Logistics operating ratio rose to 97.7% in the second quarter of 2025 from 96.5% in the year-ago quarter.

Liquidity & Cash Flow

Schneider exited the second quarter with cash and cash equivalents of $160.7 million compared with $106.2 million at the end of the prior quarter. Long-term debt was $512.7 million at the end of the reported quarter compared with $565.8 million at the end of the prior quarter.

SNDR generated $175.5 million of cash from operations in the second quarter. Net capital expenditures came in at $52.5 million.

In February 2023, SNDR announced the approval of a $150.0 million stock repurchase program.As of June 30, 2025, SNDR had repurchased a total of 4.1 million Class B shares for $103.9 million under the program.

On July 28, 2025, SNDR’s board of directors declared a $0.095 dividend payable to shareholders of record as of Sept. 12, 2025, which is expected to be paid on Oct. 9, 2025. As of June 30, 2025, SNDR had returned $33.7 million in the form of dividends to shareholders year to date.

SNDR’s 2025 Outlook

Darrell Campbell, executive vice president and chief financial officer of Schneider, stated, “Our results for the second quarter played out largely as expected and reflect the earnings growth strategies we are employing to capitalize on expected market improvement. We are doing this by controlling costs, enhancing asset efficiency, remaining diligent in our customer allocations, leaning into our areas of differentiation to drive above-market organic growth, and supplementing organic growth with accretive acquisitions. While we expect to deliver year-over-year improvement in our earnings in 2025, the timing and impact of trade, legislative, and regulatory policy remain uncertain, and the industry continues to grapple with select areas of cost inflation.”

Schneider has updated its guidance for 2025. The company has reduced its 2025 adjusted earnings per share guidance to the range of 75 cents-95 cents from the previously guided range of 75 cents-$1.00. The Zacks Consensus Estimate of 84 cents lies within the updated guidance.

The company continues to expect net capital expenditures in the range of $325-$375 million. Our estimate is pegged at $427.1 million.

Full-year effective tax rate is still expected to be 23%-24%.

Currently, SNDR carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Performances of Other Transportation Companies

Delta Air Lines (DAL - Free Report) reported second-quarter 2025 earnings (excluding $1.17 per share from non-recurring items) of $2.10 per share, which beat the Zacks Consensus Estimate of $2.04. Earnings decreased 11% on a year-over-year basis due to high labor costs.

Revenues in the June-end quarter were $16.65 billion, beating the Zacks Consensus Estimate of $16.2 billion and decreasing marginally on a year-over-year basis. Adjusted operating revenues (excluding third-party refinery sales) increased 1% year over year to $15.5 billion. 

J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported second-quarter 2025 earnings of $1.31 per share, which missed the Zacks Consensus Estimate of $1.34 and declined 0.8% year over year.

Total operating revenues of $2.93 billion missed the Zacks Consensus Estimate of $2.94 billion and were flat year over year. JBHT’s second-quarter revenue performance witnessed a 6% increase in Intermodal (JBI) loads, a 13% increase in Truckload (JBT) loads, a 3% increase in Dedicated Contract Services (DCS) productivity and a 6% increase in Integrated Capacity Solutions (ICS) revenue per load. These items were offset by Final Mile Services revenue declining 10%, lower revenue per load in both JBI and JBT, a 9% decrease in ICS load volume and a 3% decline in average trucks in DCS. Total operating revenues, excluding fuel surcharge revenue, increased 1% on a year-over-year basis.

United Airlines Holdings, Inc. (UAL - Free Report) reported mixed second-quarter 2025 results wherein the company’s earnings beat the Zacks Consensus Estimate, but revenues missed the same.

UAL's second-quarter 2025 adjusted earnings per share of $3.87 surpassed the Zacks Consensus Estimate by a penny but declined 6.5% on a year-over-year basis. The reported figure lies within the guided range of $3.25-$4.25.

Operating revenues of $15.2 billion fell short of the Zacks Consensus Estimate of $15.4 billion but increased 1.7% year over year. Passenger revenues (which accounted for 90.8% of the top line) increased 1.1% year over year to $13.8 billion. UAL flights transported 46,186 passengers in the second quarter, up 4.1% year over year.

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