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Stock Strategist

Newly Public Schneider Emerges as a High-Quality Transport

Its truckload division isn’t in the fast lane to a moat, but the network effect delivers for intermodal and logistics.

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 Schneider National (SNDR) is the second-largest asset-based full-truckload carrier, including its numerous for-hire and dedicated-contract operations. It also ranks among the major intermodal marketing companies, and its asset-light logistics unit runs a sizable truck brokerage business that’s worked its way into the top 20 providers in a highly fragmented marketplace.

Schneider completed its initial public offering in April, though it’s been in operation for more than 80 years. Before its IPO, Schneider was a quiet company with limited public disclosure surrounding its logistics operations. However, it’s become evident to us that the company is a high-quality, well-diversified truckload carrier with sufficient scale and a solid competitive foothold in the intermodal and truck brokerage marketplaces.

Matthew Young does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.