Schneider National(US:SNDR) ZACKS·2024-11-06 19:30Core Insights - Schneider National, Inc. reported disappointing third-quarter 2024 results, with earnings per share (EPS) of 18 cents missing the Zacks Consensus Estimate of 23 cents and declining 10% year-over-year [1][2] - Operating revenues of $1.31 billion fell short of the Zacks Consensus Estimate of $1.33 billion and decreased 2.6% year-over-year [2] Financial Performance - Adjusted operating income decreased 7% year-over-year to $44.3 million, with an adjusted operating ratio of 96.2%, down 20 basis points from the prior year [2] - Truckload revenues (excluding fuel surcharge) were $532.2 million, down 1% year-over-year, while truckload revenues per truck per week increased by 2% to $3,971 [3][4] - Intermodal revenues (excluding fuel surcharge) increased by 1% year-over-year to $264.7 million, with income from operations rising 41% to $15.7 million [4][5] - Logistics revenues (excluding fuel surcharge) fell 4% year-over-year to $313.7 million, with income from operations decreasing 11% to $7.6 million [5][6] Liquidity and Cash Flow - As of the end of the third quarter, the company had cash and cash equivalents of $179 million, up from $103.2 million in the prior quarter, and long-term debt of $124.7 million [7] - Cash generated from operations was $206.4 million, with free cash flow at $113.4 million and net capital expenditure of $93 million [7] Shareholder Returns - The company repurchased 3.8 million Class B shares for $95.5 million and returned $49.9 million in dividends to shareholders since the start of the year [8] 2024 Outlook - Schneider anticipates adjusted EPS for 2024 to be between 66-72 cents, down from a prior estimate of 80-90 cents, with the Zacks Consensus Estimate at 83 cents [9] - Expected net capital expenditure for 2024 is $330 million, revised from a previous range of $300-350 million [9]