Schneider National, Inc. (NYSE:SNDR) Q1 2022 Results Earnings Conference Call April 28, 2022 10:30 AM ET

Company Participants

Steve Bindas - Director IR

Mark Rourke - President & CEO

Stephen Bruffett - EVP & CFO

Conference Call Participants

Jonathan Chappell - Evercore ISI

Bert Subin - Stifel

Kenneth Hoexter - BofA Securities

Ravi Shanker - Morgan Stanley

Jordan Alliger - Goldman Sachs

Thomas Wadewitz - UBS

Jack Atkins - Stephens Inc.

Scott Group - Wolfe Research

Christian Wetherbee - Citigroup Inc.

Todd Fowler - KeyBanc Capital Markets

Brian Ossenbeck - JPMorgan

Operator

Greetings. Welcome to the Schneider First Quarter 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Steve Bindas. You may begin.

Steve Bindas

Thank you, operator, and good morning, everyone. Joining me on the call today are Mark Rourke, President and Chief Executive Officer; and Steve Bruffett, Executive Vice President and Chief Financial Officer.

Earlier today, the company issued an earnings press release, which is available on the Investor Relations section of our website at schneider.com. Our call will include remarks about future expectations, forecasts, plans and prospects for Schneider. These constitute forward-looking statements for the purposes of the safe harbor provisions under applicable federal securities laws.

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. The company urges investors to review the risks and uncertainties discussed in our SEC filings, including, but not limited to, our most recent 10-K and those risks identified in today's earnings release. All forward-looking statements are made as of the date of this call, and Schneider disclaims any duty to update such statements, except as required by law.

In addition, pursuant to Regulation G, a reconciliation of any non-GAAP financial measures referenced during today's call can be found in our earnings release, which includes reconciliations to the most directly comparable GAAP measures.

Now I'd like to turn the call over to our CEO, Mark Rourke. Mark?

Mark Rourke

Thank you, Steve, and hello, everyone, and thank you for joining Schneider's call this morning. This month marks our fifth anniversary of being a publicly traded company. Many of you have been with us on the journey since April of 2017, and we are grateful for your insight, encouragement and support.

I'll start our prepared comments this morning on our first quarter operating performance by illustrating, with metrics, how our portfolio of services has been reshaped into a leading multimodal transportation and logistics platform. The transformation of Schneider to date has not been consistently recognized when you consider the current trading multiple of the company. In the most recently completed quarter, in our 3 segments of Truckload, Intermodal and Logistics, the asset-light segments of Intermodal Logistics represented 61% of the segment's revenue mix, excluding fuel surcharge. Year-over-year, Intermodal order count grew 1% with year-over-year container growth of 26%, enabling an attractive runway opportunity for rail conversion and growth as rail fluidity begins to return to the network.