Schneider National Shares Gain On Q2 Earnings Beat, Raised Outlook

Schneider National, Inc. SNDR reported second-quarter operating revenue growth of 32% year-over-year to $1.36 billion, beating the consensus of $1.25 billion.
Sales by segments: Truckload $475.2 million (+5% Y/Y), Intermodal $274 million (+25% Y/Y), and Logistics $430.7 million (+87% Y/Y).
EPS improved to $0.60 from $0.26 in 2Q20, beating consensus estimates of $0.41.
The operating income increased 98.4 Y/Y to $125.8 million, and the margin expanded by 310 bps to 9.2%. The adjusted operating ratio was 89.9% compared to 93.4% a year ago.
Truckload segment operating ratio improved 700 bps sequentially to 84.5%.
Truckload revenue per truck per week improved 8% sequentially and 16.1% Y/Y to $3,985. Intermodal revenue per order grew 12% Y/Y to $2,399.
Schneider National generated cash from operating activities year-to-date of $255 million, compared to $319.8 million a year ago.
FY21 Outlook: Schneider National expects adjusted EPS of $1.85 - $1.95, up from the prior view of $1.60 - $1.70, compared to the consensus of $1.68.
It anticipates the excess demand condition to continue through the remainder of the year.
Price action: SNDR shares trading higher by 5.86% at $22.40 on the last check Thursday.

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