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Schneider's (SNDR) Q1 Earnings Beat, 2022 EPS Guidance Up
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Schneider National’s (SNDR - Free Report) first-quarter earnings (excluding 6 cents from non-recurring items) of 57 cents per share beat the Zacks Consensus Estimate of 52 cents. The bottom line surged 83.9% from the year-ago quarter’s levels.
Operating revenues of $1,620.5 million surpassed the Zacks Consensus Estimate of $1,555.4 million and rallied 31.9% year over year as economic activities gained pace. Revenues (excluding fuel surcharge) increased 28 % to $1,454.5 million. The results benefited from higher revenues across all the segments.
Income from operations (adjusted) surged 95% from the prior-year quarter’s level to $148.4 million. Adjusted operating ratio (operating expenses as a percentage of revenues) improved350 basis points to 89.8%. Notably, lower the value of the ratio, the better.
Schneider National, Inc. Price, Consensus and EPS Surprise
Truckload revenues (excluding fuel surcharge) increased 21% year over year to $548.4 million, primarily on dedicated new business growth, the inclusion of Midwest Logistics Systems (MLS), favorable revenues and network management. Average trucks (company trucks and owner-operated trucks) in the segment rose 8% year over year to 10,302. Revenues per truck per week in the segment increased 13% to $4,186 million. Truckload income from operations was $119.4 million in the reported quarter, up 212% year over year. The operating ratio improved to 78.2% in the first quarter from 91.5% in the year-ago period.
Intermodal revenues (excluding fuel surcharge) were $302.1 million, up 18% year over year owing to improvement in revenues per order, which increased 16%. Segmental income from operations surged 95% to $38.9 million, primarily driven by a strong revenue management. The intermodal operating ratio improved to 87.1% in the quarter under review from 92.2% in first-quarter 2021.
Logistics revenues (excluding fuel surcharge) surged 53% to $545.7 million, driven by increased revenues per order and 24% brokerage volume growth from the prior-year figure. Logistics income from operations surged 164% year over year to $41.9 million owing to increased net revenues per order and volume. This upside is led by an increased contribution from SNDR’s Power Only offering and digital capabilities of Schneider FreightPower. The operating ratio in the segment improved to 92.3% from 95.5% in first-quarter 2021.
Per Mark Rourke, CEO and president, Schneider, “We anticipate steady improvements to network and supply chain fluidity throughout 2022”.
Schneider anticipates 2022 adjusted earnings per share in the range of $2.55-$2.70 (previous view: $2.35-$2.55). The midpoint of the guidance ($2.625) is higher than the Zacks Consensus Estimate of $2.51.
Net capital expenditures are anticipated to be approximately $500 million (previous view: $450 million).
J.B. Hunt reported better-than-expected first-quarter 2022 earnings numbers. Quarterly earnings of $2.29 per share surpassed the Zacks Consensus Estimate of $1.91. The bottom line surged 67.2% year over year on higher revenues across all segments.
Total operating revenues of $3,488.6 million also outperformed the Zacks Consensus Estimate of $3,260.5 million. The top line jumped 33.3% year over year. JBHT currently carries a Zacks Rank #3.
CSX Corp’s first-quarter 2022 earnings of 39 cents per share beat the Zacks Consensus Estimate by a penny despite the decrease in overall volumes as supply-chain issues continue to dent results. The bottom line improved 25.81% year over year owing to higher revenues, aided by increased shipping rates.
Total revenues of $3,413 million outperformed the Zacks Consensus Estimate of $3291.2 million. The top line increased 21.33% year over year. CSX carries a Zacks Rank of 3 at present.
United Airlines incurred a loss of $4.24 per share in the first quarter of 2022, wider than the Zacks Consensus Estimate of a loss of $4.19. This is the ninth consecutive quarterly loss suffered by UAL as coronavirus concerns continue to weigh on air-travel demand.
Operating revenues of $7,566 million also fell short of the Zacks Consensus Estimate of $7,657.2 million. UAL is presently Zacks #3 Ranked.
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Schneider's (SNDR) Q1 Earnings Beat, 2022 EPS Guidance Up
Schneider National’s (SNDR - Free Report) first-quarter earnings (excluding 6 cents from non-recurring items) of 57 cents per share beat the Zacks Consensus Estimate of 52 cents. The bottom line surged 83.9% from the year-ago quarter’s levels.
Operating revenues of $1,620.5 million surpassed the Zacks Consensus Estimate of $1,555.4 million and rallied 31.9% year over year as economic activities gained pace. Revenues (excluding fuel surcharge) increased 28 % to $1,454.5 million. The results benefited from higher revenues across all the segments.
Income from operations (adjusted) surged 95% from the prior-year quarter’s level to $148.4 million. Adjusted operating ratio (operating expenses as a percentage of revenues) improved350 basis points to 89.8%. Notably, lower the value of the ratio, the better.
Schneider National, Inc. Price, Consensus and EPS Surprise
Schneider National, Inc. price-consensus-eps-surprise-chart | Schneider National, Inc. Quote
Segmental Highlights
Truckload revenues (excluding fuel surcharge) increased 21% year over year to $548.4 million, primarily on dedicated new business growth, the inclusion of Midwest Logistics Systems (MLS), favorable revenues and network management. Average trucks (company trucks and owner-operated trucks) in the segment rose 8% year over year to 10,302. Revenues per truck per week in the segment increased 13% to $4,186 million. Truckload income from operations was $119.4 million in the reported quarter, up 212% year over year. The operating ratio improved to 78.2% in the first quarter from 91.5% in the year-ago period.
Intermodal revenues (excluding fuel surcharge) were $302.1 million, up 18% year over year owing to improvement in revenues per order, which increased 16%. Segmental income from operations surged 95% to $38.9 million, primarily driven by a strong revenue management. The intermodal operating ratio improved to 87.1% in the quarter under review from 92.2% in first-quarter 2021.
Logistics revenues (excluding fuel surcharge) surged 53% to $545.7 million, driven by increased revenues per order and 24% brokerage volume growth from the prior-year figure. Logistics income from operations surged 164% year over year to $41.9 million owing to increased net revenues per order and volume. This upside is led by an increased contribution from SNDR’s Power Only offering and digital capabilities of Schneider FreightPower. The operating ratio in the segment improved to 92.3% from 95.5% in first-quarter 2021.
Liquidity
Schneider, currently carrying a Zacks Rank #3 (Hold), exited the first quarter with cash and cash equivalents of $272.6 million compared with $244.8 million at the end of 2021. You can see the complete list of today’s Zacks #1Rank (Strong Buy) stocks here.
2022 Outlook
Per Mark Rourke, CEO and president, Schneider, “We anticipate steady improvements to network and supply chain fluidity throughout 2022”.
Schneider anticipates 2022 adjusted earnings per share in the range of $2.55-$2.70 (previous view: $2.35-$2.55). The midpoint of the guidance ($2.625) is higher than the Zacks Consensus Estimate of $2.51.
Net capital expenditures are anticipated to be approximately $500 million (previous view: $450 million).
Earnings Snapshots
Within the broader Transportation sector, J.B. Hunt Transport Services (JBHT - Free Report) , CSX Corporation (CSX - Free Report) and United Airlines (UAL - Free Report) recently reported first-quarter 2022 results.
J.B. Hunt reported better-than-expected first-quarter 2022 earnings numbers. Quarterly earnings of $2.29 per share surpassed the Zacks Consensus Estimate of $1.91. The bottom line surged 67.2% year over year on higher revenues across all segments.
Total operating revenues of $3,488.6 million also outperformed the Zacks Consensus Estimate of $3,260.5 million. The top line jumped 33.3% year over year. JBHT currently carries a Zacks Rank #3.
CSX Corp’s first-quarter 2022 earnings of 39 cents per share beat the Zacks Consensus Estimate by a penny despite the decrease in overall volumes as supply-chain issues continue to dent results. The bottom line improved 25.81% year over year owing to higher revenues, aided by increased shipping rates.
Total revenues of $3,413 million outperformed the Zacks Consensus Estimate of $3291.2 million. The top line increased 21.33% year over year. CSX carries a Zacks Rank of 3 at present.
United Airlines incurred a loss of $4.24 per share in the first quarter of 2022, wider than the Zacks Consensus Estimate of a loss of $4.19. This is the ninth consecutive quarterly loss suffered by UAL as coronavirus concerns continue to weigh on air-travel demand.
Operating revenues of $7,566 million also fell short of the Zacks Consensus Estimate of $7,657.2 million. UAL is presently Zacks #3 Ranked.