Saving The Best For Last

研报英文原文证据摘录

Saving The Best For Last

Idea

July 30, 2026 10:49 PM GMT

Morgan Stanley & Co. LLCMSchneider National Inc. | North America Ravi Shanker

Equity Analyst

Saving The Best For Last Ravi.Shanker@morganstanley.comNancy Hipp +1 212 761-6350

Research Associate

Nancy.Hipp@morganstanley.com +1 212 761-1311

AlphaSignals Earnings Reaction Madison J Pasterchick

Strengthens our thesis Meaningful upside Modest revision higher Madison.Pasterchick@morganstanley.com +1 212 761-3787

Impact to our thesis Financial results versus consensus Direction of next 12-month

consensus EPS

Schneider National Inc. (SNDR.N, SNDR UN)

Source: Company data, Morgan Stanley Research

Freight Transportation | United States of America

SNDR was the last asset-based company to report but delivered StockIndustryRatingView OverweightIn-Line

the biggest beat of the season and raised the FY guide Price target $45.00

Shr price, close (Jul 30, 2026) $34.14

meaningfully despite some headwinds in 2H. In a world where Mkt cap, curr (mm) $5,959

52-Week Range $39.27-20.15

there are likely to be fewer LT winners in the industry, we

Fiscal Year Ending 12/25 12/26e 12/27e 12/28e

believe SNDR is in the winning camp. EPS ($)** 0.63 1.13 1.84 2.52

Prior EPS ($)** - 1.05 1.83 2.47

P/E 42.3 30.2 18.6 13.6

Key Takeaways EPS ($)§ 0.69 0.96 1.64 2.27

Div yld (%) 1.4 1.1 1.1 1.1

SNDR delivered the biggest earnings beat this season, reinforcing mgmt.'s

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

constructive commentary and earnings momentum despite only modest demand framework

** = Based on consensus methodology

improvement. § = Consensus data is provided by Refinitiv Estimates

e = Morgan Stanley Research estimates

Guidance increased meaningfully following the beat, although the midpoint Quarterly EPS ($)