Schneider National (SNDR) Q1 FY2024 earnings: revenue $1.3 billion, down 7.7% on the year

Schneider National, Inc. (SNDR) reported revenue of $1.3 billion for Q1 FY2024, the quarter ended 31 March 2024, down 7.7% on the same quarter a year earlier. Net income was $18 million, down 81.1% on the year, and diluted earnings per share $0.10. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2024.

Revenue$1.3 billiondown 7.7%

Net income$18 milliondown 81.1%

Diluted EPS$0.10

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	1,319	1,372	n/a	n/a
Operating income	28.7	31.3	n/a	n/a
Operating margin	2.2%	2.3%	n/a
Interest expense	4.0	4.1	n/a	n/a
Pre-tax income	24.7	27.5	n/a	n/a
Income tax	6.2	0.1	n/a	n/a
Effective tax rate	25.1%	0.4%	n/a
Net income	18.5	27.4	n/a	n/a
Net margin	1.4%	2.0%	n/a
Diluted EPS	$0.10	$0.15	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	97.6	194	n/a	n/a
Capital expenditure	123	160	n/a	n/a
Free cash flow	-25.7	34.4	n/a	n/a
Free cash flow margin	-1.9%	2.5%	n/a
Cash from investing	-102	-131	n/a	n/a
Cash from financing	-30.6	-19.2	n/a	n/a
Depreciation and amortisation	103	101	n/a	n/a
Share-based compensation	1.2	2.4	n/a	n/a
Buybacks	13.0	15.9	n/a	n/a
Dividends paid	16.5	15.9	n/a	n/a
Diluted shares, weighted	177m	177m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	2,942	2,957	n/a	n/a
Debt	295	290	n/a	n/a
Operating lease liabilities	n/a	57.6	n/a	n/a
Finance lease liabilities	n/a	7.6	n/a	n/a
Other liabilities	1,342	1,245	n/a	n/a
Total liabilities and equity	4,579	4,557	n/a	n/a
Fixed assets	2,641	2,582	n/a	n/a
Goodwill	332	332	n/a	n/a
Intangible assets	54.8	56.1	n/a	n/a
Investments	56.9	57.2	n/a	n/a
Cash and equivalents	67.3	102	n/a	n/a
Receivables	574	576	n/a	n/a
Inventory	91.9	118	n/a	n/a
Other assets	761	734	n/a	n/a
Total assets	4,579	4,557	n/a	n/a

Questions

What was Schneider National's revenue in Q1 FY2024?

Schneider National (SNDR) reported revenue of $1.3 billion for Q1 FY2024, the quarter ended 31 March 2024, down 7.7% on the same quarter a year earlier.

How much did Schneider National earn in Q1 FY2024?

Net income for Q1 FY2024 was $18 million, down 81.1% on the year, and diluted earnings per share $0.10.

When did Schneider National report Q1 FY2024 results?

Schneider National filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 2 May 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,352	1,372	1,319	1,317	1,316	1,339	1,402	1,420	1,452	1,400	1,398	1,569
Operating income	46.7	31.3	28.7	51.0	43.1	42.4	42.1	55.0	35.3	36.5	33.4	71.4
Operating margin	3%	2%	2%	4%	3%	3%	3%	4%	2%	3%	2%	5%
Interest expense	3.3	4.1	4.0	4.3	3.6	4.7	7.8	8.6	9.5	7.9	7.0	6.9
Pre-tax income	46.1	27.5	24.7	47.0	39.3	41.2	34.8	47.4	26.4	29.4	27.2	65.6
Tax rate	23%	0%	25%	25%	22%	21%	25%	24%	27%	25%	25%	24%
Net income	35.6	27.4	18.5	35.3	30.6	32.6	26.1	36.0	19.4	22.1	20.4	49.7
Net margin	3%	2%	1%	3%	2%	2%	2%	3%	1%	2%	1%	3%
Diluted EPS	$0.20	$0.15	$0.10	$0.20	$0.17	$0.18	$0.15	$0.20	$0.11	$0.13	$0.12	$0.28
Operating cash flow	183	194	97.6	183	206	200	91.7	176	184	186	92.9	171
Capital expenditure	156	160	123	97.1	108	85.9	114	69.1	128	40.5	40.9	113
Free cash flow	26.7	34.4	-25.7	85.5	98.7	114	-22.7	106	56.2	146	52.0	58.6
Buybacks	14.9	15.9	13.0	12.8	3.7	0.0	8.3	0.0	0.0	6.3	5.2	0.0
Dividends paid	15.9	15.9	16.5	16.8	16.6	16.7	17.0	16.7	16.6	16.7	17.1	17.5
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 2 May 2024, accession 0001692063-24-000100: the filing on EDGAR. All of Schneider National, Inc.'s filings: EDGAR company page.

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