Schneider National (SNDR) investor relations material

Executive summary

• Operating revenues for Q1 2026 were approximately $1.4 billion, flat year-over-year, with net income down 22% to $20.4 million and income from operations down 21% due to higher costs and lower asset sale gains.

• Adjusted EBITDA was $143.6 million, down from $154.8 million, and adjusted net income was $21.7 million, reflecting lower Logistics and Intermodal performance.

• Management highlighted strong cost and productivity actions amid disruptive weather and fuel volatility, with expectations for improved performance as market conditions normalize.

• Structural supply rationalization and regulatory actions are driving the market toward more normal conditions, with early cycle tailwinds and technology investments expected to benefit future quarters.

• Free cash flow improved to $48.1 million from negative $5.4 million, driven by lower capital expenditures.

Financial highlights

• Revenues excluding fuel surcharge were $1.2–$1.24 billion, down 1% year-over-year; operating revenues were $1.4 billion, nearly flat year-over-year.

• Adjusted income from operations was $35 million, a 21% decrease year-over-year; adjusted EBITDA was $143.6 million, down 7%.

• Adjusted diluted EPS was $0.12, down from $0.16 in Q1 2025.

• Free cash flow increased by $54 million year-over-year, with net CapEx at $44.8–$45 million, down from $97 million last year.

• Net income margin for Q1 2026 was 1.5%, down from 1.9% in Q1 2025.

Outlook and guidance

• Full-year 2026 adjusted diluted EPS guidance remains at $0.70–$1.00, assuming a 24% effective tax rate.

• Net capital expenditures for 2026 are expected to be $400–$450 million, focused on fleet replacement and strategic priorities.

• Management expects benefits from supply rationalization and structural improvements to become more evident as the year progresses, but notes macro uncertainty and demand risk.

• Sufficient liquidity from operations and credit facilities is expected to meet foreseeable needs.