Financial Performance - Operating revenues for Q1 2025 were $1.4 billion, a 6% increase from $1.3 billion in Q1 2024[5] - Net income for Q1 2025 was $26.1 million, up 41% from $18.5 million in Q1 2024[5] - Adjusted diluted earnings per share for Q1 2025 were $0.16, a 45% increase from $0.11 in Q1 2024[6] - Income from operations rose to $42.1 million for Q1 2025, a significant increase of 46.3% compared to $28.7 million in Q1 2024[28] - Adjusted net income for Q1 2025 reached $27.7 million, up 42.1% from $19.5 million in Q1 2024[55] - Adjusted EBITDA for Q1 2025 was $154.8 million, representing a 18.4% increase from $130.7 million in Q1 2024[57] - Diluted earnings per share for Q1 2025 were $0.15, compared to $0.10 in Q1 2024, marking a 50% increase[60] - Adjusted diluted earnings per share for Q1 2025 were $0.16, up 45.5% from $0.11 in Q1 2024[60] Revenue Segments - Truckload revenues (excluding fuel surcharge) increased by 14% to $613.7 million, driven by the acquisition of Cowan Systems[10] - Logistics revenues (excluding fuel surcharge) increased by 2% to $332.0 million, despite lower brokerage revenue per order[14] - The Truckload segment reported revenues of $613.7 million, a 14.0% increase from $538.1 million in Q1 2024[27] - The Intermodal segment achieved a revenue per order of $2,467, up from $2,442 in Q1 2024, indicating a growth of 1.0%[37] Operational Efficiency - Intermodal income from operations rose 97% to $13.8 million, with an operating ratio improvement of 250 basis points to 94.7%[13] - The adjusted operating ratio improved to 96.5% in Q1 2025 from 97.4% in Q1 2024, demonstrating enhanced operational efficiency[52] - Average trucks in the Truckload segment increased to 12,279 in Q1 2025, compared to 10,884 in Q1 2024, marking a growth of 12.8%[32] Cash Flow and Expenditures - Free cash flow increased by $8.9 million compared to the same period in 2024[8] - Free cash flow for Q1 2025 was negative $5.4 million, an improvement from negative $14.3 million in Q1 2024[59] - Net cash provided by operating activities was $91.7 million for Q1 2025, down from $97.6 million in Q1 2024[25] - The company reported a net decrease in cash and cash equivalents of $11.4 million for Q1 2025, compared to a decrease of $35.1 million in Q1 2024[25] - Net capital expenditures guidance for 2025 is adjusted to $325 - $375 million, reduced from $400 - $450 million[16] Shareholder Actions - The company repurchased 4.1 million Class B shares for a total of $103.9 million under a $150 million stock repurchase program[9] Assets and Liabilities - Total assets increased to $4,978.5 million as of March 31, 2025, compared to $4,933.7 million at December 31, 2024, reflecting a growth of 0.9%[24] - Long-term debt increased to $565.8 million as of March 31, 2025, from $420.8 million at December 31, 2024, reflecting a rise of 34.5%[24] Guidance and Risks - Full year 2025 adjusted diluted earnings per share guidance is revised to $0.75 - $1.00, down from previous guidance of $0.90 - $1.20[16] - The company highlighted potential risks including economic conditions, operational challenges, and regulatory changes that could impact future performance[63] - Acquisition-related costs for Q1 2025 were $0.2 million, while there were no such costs in Q1 2024[55] - Depreciation and amortization expenses increased to $113.6 million in Q1 2025 from $102.8 million in Q1 2024[57]
Schneider National(SNDR) - 2025 Q1 - Quarterly Results