Schneider Q4 Earnings Miss Estimates, Down Year Over Year

Core Insights - Schneider National, Inc. (SNDR) reported disappointing fourth-quarter 2025 results, with earnings and revenues missing the Zacks Consensus Estimate [1] Financial Performance - Quarterly earnings per share (EPS) of 13 cents missed the Zacks Consensus Estimate of 21 cents and declined 35% from the year-ago quarter [2] - Operating revenues of $1.39 billion lagged the Zacks Consensus Estimate of $1.45 billion but improved 4.5% year over year [2] - Revenues (excluding fuel surcharge) increased 4% year over year to $1.25 billion [2] - Income from operations (adjusted) fell 14% from the prior-year quarter to $36.5 million [3] Segment Performance - Truckload revenues (excluding fuel surcharge) for Q4 2025 were $610 million, up 9% year over year, driven by a 21% increase in Dedicated volume due to the Cowan Systems acquisition [4] - Truckload income from operations totaled $23 million in Q4 2025, up 16% year over year, despite increased expenses [5] - Intermodal revenues (excluding fuel surcharge) for Q4 2025 were $268.2 million, down 3% year over year, due to a 5% decrease in revenue per order [6] - Intermodal income from operations was $18.0 million, up 5% year over year, attributed to volume growth and lower transportation costs [7] - Logistics revenues (excluding fuel surcharge) for Q4 2025 were $329.3 million, up 2% year over year, due to the Cowan Systems acquisition [8] - Logistics income from operations was $2.6 million, down 69% year over year, impacted by lower brokerage volume [9] Liquidity and Cash Flow - Cash and cash equivalents at the end of Q4 were $201.5 million, up from $194.1 million in the prior quarter [12] - Long-term debt decreased to $390.9 million from $509.8 million in the prior quarter [12] - Generated $186 million of cash from operations in the reported quarter, with net capital expenditures of $31.5 million [12] Shareholder Returns - In February 2023, SNDR announced a $150 million stock repurchase program, repurchasing 4.4 million Class B shares for $110.1 million by December 31, 2025 [13] - A new $150 million share repurchase program was authorized in January 2026 [13] - A dividend hike of 5% was declared, raising the quarterly cash dividend to 10 cents per share from 9.5 cents, payable on April 8, 2026 [14] 2026 Outlook - SNDR expects 2026 adjusted EPS in the range of 70 cents to $1.00, with an effective tax rate of 24% [11][15] - Net capital expenditures are expected to be between $400 million and $450 million [15]