Schneider National lowers FY24 EPS view to 85c-$1.00 from $1.15 – $1.30

Consensus for FY24 EPS is $1.00. “As we navigate the challenging freight market conditions that have persisted for far longer than originally contemplated, we are actively managing costs and pursuing margin improvement across our business while continuing to lean into our strategic growth areas of Dedicated, Intermodal, and Logistics,” said Darrell Campbell, Executive Vice President and Chief Financial Officer of Schneider. “We still believe the cycle is closer to its end than its beginning and anticipate improving conditions as the year progresses; however, we have tempered our outlook on the timing of the recovery. Based on first quarter results and market expectations, our guidance for full year 2024 adjusted diluted earnings per share has been updated to $0.85 – $1.00,” Campbell commented. “We are also updating our net capital expenditures guidance for full year 2024 to a range of $350 – $400M.”