Schneider National, Inc. (NYSE:SNDR) Q2 2023 Earnings Call Transcript

Christian Wetherbee : Okay. So that sounds like somewhere in the 4,000-plus truck range is maybe the low watermark. You don’t necessarily think you’ll drop below that is what you’re thinking?

Mark Rourke : It would not be our intention, not at all.

Christian Wetherbee : Okay. And then one quick follow-up just on the acquisition. As we think about contribution, whether it be revenue per truck per week, how does that sort of stack up relative to the broader — I know it’s a relatively small piece in the context of 6,000 trucks that’s just coming on. But are there meaningful variances either in sort of end market exposure or other dynamics that could drive different revenue per truck per week numbers?

Steve Bruffett : No, Chris, this is — we — our approach to this is buying very healthy companies that can contribute in a consistent way to what we’re trying to do here. So that will be very much on par to our current experience to perhaps slightly ahead, based upon some of the geographies that they participate in. So it will be a positive contributor.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Mark Rourke for any closing remarks.

Mark Rourke : Great. Well, thanks, everyone, for joining us today. And I’ll just close by referring you to Page 14 and 15 of our updated investor presentation. And our strategy is to be disciplined in how we deploy our capital, focused on shareholder returns. And to do that, we have outlined our strategic growth drivers of dedicated truck, intermodal and logistics. And we’re pleased that we had a chance to talk about those things today. In the quarter, we did leverage our strong balance sheet to complement our dedicated organic truck growth efforts with M&M Transport. And we look forward to not only what they bring to us, but our opportunity to drive synergies as we get them implemented. We’ll continue to pursue those right acquisitive opportunities that advance our strategic priorities.

We’ve got a chance to talk about our share repurchase program today, which is almost 1.4 million shares in the quarter. We’ll keep a nice steady drumbeat for the remainder of the year, perhaps not to that same extent, but a nice steady drumbeat. And we’re going to continue to invest in the strengths across our highly diversified portfolio, and again, several of those which we had a chance to highlight on the call today. So I appreciate your time and attention and look forward to our discussion next time. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.