Key Highlights

  • Operating revenues rose 9% to $1,585.3 million from $1,452.4 million a year earlier.
  • Diluted EPS was $0.28 versus $0.11, and adjusted diluted EPS was $0.29 versus $0.12.
  • Truckload income from operations rose 121% to $43.7 million, with an operating ratio of 93.0%.
  • Full year 2026 adjusted diluted EPS guidance was raised to $1.00 to $1.10.
  • A quarterly Dividend of $0.10 per share was declared on October 26, 2026.

Revenue climbs 9% while income from operations jumps 76%

Schneider National (NYSE:SNDR) is among the largest providers of surface transportation and logistics services in North America, offering truckload, intermodal and logistics services across the United States, Canada and Mexico. On October 29, 2026, the company reported third quarter 2026 operating revenues of $1,585.3 million, up 9% from $1,452.4 million a year earlier.

Revenues excluding fuel Surcharge rose a smaller 3% to $1,345.1 million, so part of the headline gain came from fuel surcharge revenue, which was $240.2 million versus $152.7 million. Income from operations rose 76% to $62.1 million from $35.3 million, and the operating ratio improved 150 basis points to 96.1%.

Net income was $49.5 million, compared with $19.4 million, and diluted EPS was $0.28, compared with $0.11. Adjusted diluted EPS was $0.29, up from $0.12.

Truckload profit more than doubles as Network returns to profitability

Truckload revenues excluding fuel surcharge were flat at $624.8 million, an increase of just $0.3 million, as better Network price and productivity offset lower Volume in both Network and Dedicated. Revenue per truck per week was $4,252, up $329, or 8%.

Truckload income from operations rose $23.9 million, or 121%, to $43.7 million, and the segment operating ratio improved 380 basis points to 93.0%. The company pointed to acquisition-related cost synergies and higher gains on equipment sales.

Intermodal gains 35% while Logistics slips to breakeven

Intermodal revenues excluding fuel surcharge were $287.7 million, up 2%, with revenue per order up 3% on price, partly offset by lower volume. Income from operations rose 35% to $22.6 million, and the operating ratio improved 190 basis points to 92.1%.

Logistics revenues excluding fuel surcharge rose 12% to $372.5 million on higher revenue per order. Income from operations fell $6.4 million to roughly zero, giving an operating ratio of 100.0%, as higher purchased transportation costs and insurance expense tied to a specific prior year claim weighed on the segment.

Balance sheet, buyback and a new Norfolk Southern agreement

Cash and cash equivalents were $326.2 million at September 30, 2026, against $393.6 million of total Debt and finance Lease obligations, which implies net debt of about $67.4 million on a calculated basis. Nine month Operating Cash Flow was $403.2 million, compared with $451.4 million.

Under the $150.0 million share repurchase program approved in January 2026, the company had repurchased 0.2 million Class B shares for $5.2 million by quarter end. It returned $52.1 million in dividends year to date, and announced a new agreement with Norfolk Southern (NYSE:NSC) that it said further differentiates its Intermodal offering.

Raised guidance leaves peak season and driver capacity as the swing factors

Management raised full year 2026 adjusted diluted EPS guidance to $1.00 to $1.10 and set net capital expenditures guidance at $325 million to $350 million. The outlook assumes a full year effective tax rate of approximately 22%.

The guidance anticipates continued contract rate recovery and further productivity and cost benefits, while the company called peak season Demand and driver capacity important variables as the year closes. For the nine months, adjusted diluted EPS was $0.70, which on a calculated basis leaves the guide implying roughly $0.30 to $0.40 for the fourth quarter.