Schneider to acquire Cowan Systems for nearly $390 million cash. Cowan Systems operates 1,800 trucks, enhancing Schneider's dedicated fleet. Acquisition expected to be accretive to SNDR's earnings in the first year. Cowan will boost Schneider's presence in dedicated transportation services significantly. Deal completion anticipated in Q4 2024, solidifying strategic growth objectives.
- Q1 revenue for SNDR: $1.32 billion, down 7.7% YoY - Q1 EPS: $0.11, compared to $0.55 in the prior year - Operating ratios and revenue figures came in lower than analysts' estimates Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings
- Schneider National's quarterly earnings were $0.11 per share, missing estimates. - Revenues for the quarter ended March 2024 were $1.32 billion, missing estimates. - Company's stock has lost 17.2% year-to-date vs. S&P 500's gain of 5.2%. - Estimate revisions for Schneider National are unfavorable, with a Zacks Rank #5. - Industry outlook for Transportation - Services is in the bottom 17% of Zacks industries. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings