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1. Company Snapshot

1.a. Company Description

Schneider National, Inc., together with its subsidiaries, provides surface transportation and logistics solutions in the United States, Canada, and Mexico.The company operates through three segments: Truckload, Intermodal, and Logistics.The Truckload segment offers standard long-haul and regional shipping services primarily through dry van, bulk, temperature-controlled, and flat-bed equipment, as well as cross dock and customized solutions for time-sensitive loads.


The Intermodal segment provides door-to-door container on flat car services, including rail and dray transportation through company-owned containers, chassis, and trucks.The Logistics segment offers freight brokerage, supply chain, and import/export services; value-added services to manage and move its customers' freight; and transloading and warehousing services.It also leases equipment, such as trucks to owner-operators; and provides insurance for the company drivers and owner-operators.


Schneider National, Inc.was founded in 1935 and is headquartered in Green Bay, Wisconsin.

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1.b. Last Insights on SNDR

Schneider National's recent performance was positively driven by the introduction of Schneider Fast Track, a premium solution for time-sensitive intermodal freight. The company's Q3 earnings call highlighted its extensive asset-based truckload and intermodal capabilities. Additionally, Schneider's logistics customers realized a 107% ROI on average over three years. The company also announced a quarterly dividend of $0.095 per share. Its presentation at the Baird 55th Annual Global Industrial Conference also showcased its strengths.

1.c. Company Highlights

2. Schneider's Q3 2025 Earnings: A Mixed Bag

Schneider's third-quarter 2025 financial performance was marked by a 10% year-over-year increase in enterprise revenues, excluding fuel surcharge, to $1.3 billion. However, adjusted income from operations declined 13% to $38 million, and adjusted diluted earnings per share came in at $0.12, below estimates of $0.21. The company's adjusted EPS guidance for the full-year 2025 has been updated to approximately $0.70, assuming an effective tax rate of around 24%. As Darrell Campbell, Executive Vice President and Chief Financial Officer, noted, "We're in line with the low end of our previous range."

Publication Date: Nov -05

📋 Highlights
  • Claims Costs Overrun: Unfavorable prior-year claims developments caused a $16 million overage in Q3, though management expects no recurrence in Q4.
  • Revenue Growth: Enterprise revenue (excluding fuel surcharge) hit $1.3 billion, up 10% YoY, driven by 17% growth in Truckload and 6% in Intermodal.
  • EPS Decline: Adjusted diluted EPS fell to $0.12 in Q3 2025 from $0.18 in Q3 2024, reflecting higher claims costs and softer market conditions.
  • Dedicated Business Momentum: Win rate tripled in H2 2025 due to pipeline conversions, with over 50% of Dedicated revenue now in specialized, sticky segments.
  • AI Efficiency Gains: Agentic AI deployment could deliver up to 60% productivity improvements, targeting double-digit cost structure leverage in operations.

Segment Performance

Schneider's segment financial results were mixed, with Truckload revenue, excluding fuel surcharge, increasing 17% year-over-year to $625 million, while Intermodal revenues, excluding fuel surcharge, rose 6% to $281 million. Logistics revenue, excluding fuel surcharge, was up 6% to $332 million. The company's focus on Dedicated has driven incremental volume opportunities, and the pipeline remains strong, with a 3x acceleration in win rate in the second half.

Operational Efficiency

Schneider is driving asset efficiency and lowering its cost to serve through initiatives like reducing unbilled miles and improving tractor-to-driver ratios. The company is targeting a $40 million cost opportunity, including synergies from Cowan, and is on track to achieve this goal. As Mark Rourke, President and Chief Executive Officer, stated, "We're continuing to execute on acquisition synergies while reducing costs across the enterprise."

Valuation and Outlook

With a P/E Ratio of 33.68 and an EV/EBITDA of 6.66, Schneider's valuation reflects a relatively high multiple on earnings. Analysts estimate next year's revenue growth at 4.8%. The company's ROE is 3.8%, and ROIC is 3.02%. The current market conditions are expected to remain sub-seasonal in the Truckload network business, and spot rate conditions will be an important swing factor. As the company navigates these challenges, its focus on structural improvements and capital discipline will be crucial in driving future growth.

3. NewsRoom

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PS International Group (NASDAQ:PSIG) and Schneider National (NYSE:SNDR) Head-To-Head Survey

Dec -04

Source: defenseworld.net

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Schneider National, Inc. (SNDR) Presents at Baird 55th Annual Global Industrial Conference Transcript

Nov -12

Source: seekingalpha.com

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Schneider launches Fast Track: reliability and speed for time-sensitive intermodal freight

Nov -10

Source: businesswire.com

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Jayud Global Logistics (NASDAQ:JYD) and Schneider National (NYSE:SNDR) Head-To-Head Comparison

Nov -05

Source: defenseworld.net

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Schneider Q3 Earnings Lag Estimates, Down Y/Y, '25 EPS View Lowered

Nov -04

Source: zacks.com

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Schneider National (NYSE:SNDR) Hits New 12-Month Low Following Weak Earnings

Oct -31

Source: defenseworld.net

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Schneider National, Inc. (SNDR) Q3 2025 Earnings Call Transcript

Oct -30

Source: seekingalpha.com

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Schneider National (SNDR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Oct -30

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.63%)

6. Segments

Truckload

Expected Growth: 5%

Schneider National's 5% truckload growth driven by increasing demand for dedicated capacity, expansion of e-commerce and retail business, and strategic investments in digital freight marketplace. Additionally, the company's focus on operational efficiency, cost savings, and driver recruitment/retention initiatives contribute to the growth.

Logistics

Expected Growth: 4%

Schneider National's logistics segment growth is driven by increasing demand for e-commerce fulfillment, strategic partnerships with major retailers, and investments in digital freight marketplace technology. Additionally, the company's focus on intermodal services, dedicated truckload, and brokerage solutions has enabled it to capitalize on the growing need for efficient and flexible supply chain management.

Intermodal

Expected Growth: 7%

Schneider National's Intermodal segment growth is driven by increasing demand for efficient and cost-effective transportation solutions, investments in digitalization and technology, expansion of dedicated intermodal services, and strategic partnerships with major railroads. Additionally, growing e-commerce and retail sales, as well as a shift towards more environmentally friendly transportation modes, contribute to the 7% growth.

Fuel Surcharge

Expected Growth: 3%

Schneider National's 3% fuel surcharge growth is driven by increasing diesel fuel prices, rising transportation demand, and a tight trucking capacity market. Additionally, the company's focus on dedicated and intermodal services, which have higher fuel surcharge revenue, contributes to the growth. Furthermore, Schneider's ability to pass through fuel costs to customers through its fuel surcharge program also supports the growth.

Other

Expected Growth: 2%

Schneider National's 'Other' segment growth is driven by increasing demand for logistics services, expansion of its warehousing and distribution network, and strategic acquisitions. Additionally, the company's investments in digitalization and technology, such as its proprietary transportation management system, have improved operational efficiency and enhanced customer experience, contributing to the segment's growth.

Inter-Segment Eliminations

Expected Growth: 1%

Schneider National's 1% Inter-Segment Eliminations growth is driven by increased truckload volumes, improved pricing, and enhanced operational efficiency. The company's focus on digitalization, investments in technology, and strategic acquisitions have also contributed to this growth. Additionally, the rise in e-commerce and demand for logistics services have fueled the growth of Schneider's intermodal and logistics segments.

7. Detailed Products

Truckload

Schneider National's Truckload service provides dedicated capacity solutions for shippers, offering flexible and customized transportation options for their freight.

Intermodal

Schneider National's Intermodal service combines the efficiency of rail transportation with the flexibility of trucking, offering a cost-effective and environmentally friendly solution for shippers.

Dedicated

Schneider National's Dedicated service provides customized, dedicated transportation solutions for shippers, offering a high level of control and flexibility for their freight.

Brokerage

Schneider National's Brokerage service connects shippers with a network of qualified carriers, providing flexible and cost-effective transportation solutions for their freight.

Warehousing and Distribution

Schneider National's Warehousing and Distribution service provides customized logistics solutions for shippers, including warehousing, inventory management, and order fulfillment.

Port Logistics

Schneider National's Port Logistics service provides customized logistics solutions for shippers, including drayage, warehousing, and distribution, to facilitate the movement of international freight.

Supply Chain Management

Schneider National's Supply Chain Management service provides comprehensive logistics solutions for shippers, including transportation management, warehousing, and distribution, to optimize their supply chain operations.

8. Schneider National, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Schneider National, Inc. operates in a highly competitive industry, but the threat of substitutes is moderate due to the high barriers to entry and the complexity of the logistics industry.

Bargaining Power Of Customers

Schneider National, Inc. has a large customer base, but the bargaining power of customers is high due to the availability of alternative logistics providers and the high demand for transportation services.

Bargaining Power Of Suppliers

Schneider National, Inc. has a diverse supplier base, and the bargaining power of suppliers is low due to the company's large scale of operations and its ability to negotiate favorable prices.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the logistics industry, including the need for significant capital investment and regulatory compliance.

Intensity Of Rivalry

The logistics industry is highly competitive, and the intensity of rivalry is high due to the presence of several large players, including J.B. Hunt Transport Services, Inc. and Landstar System, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 9.27%
Debt Cost 6.03%
Equity Weight 90.73%
Equity Cost 8.25%
WACC 8.04%
Leverage 10.22%

11. Quality Control: Schneider National, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

26.76$

Current Price

26.77$

Potential

-0.00%

Expected Cash-Flows