For the three months ending March 31, 2022, Schneider reported revenues of $1.45bn, a year-on-year (y-o-y) increase of 28% compared to the same period of 2021. Income from operations for Q1 2022 also grew, with a y-o-y increase of 77%, reaching $135m.
Truckload revenues (excluding fuel surcharge) for Q1 2022 were $548.4m, a growth of $81.1m, or 212%, compared to the same period of 2021. Schneider states this rise in Truckload revenues was primarily due to dedicated new business growth, the inclusion of MLS, and favourable revenue and network management, partially offset by a lower Truckload network fleet count and lower productivity mainly related to early first quarter COVID-impacts. Truckload income from operations was $4,186 in Q1 2022, an increase of 13% compared to the same period in 2021.
Intermodal revenues (excluding fuel surcharge) for Q1 2022 were $302.1m, an increase of 18% or $46.3m y-o-y, mainly due to a rise in revenue per order compared to the Q1 2021. Intermodal grew its container count by over 2,200 units in Q1 2022, representing a y-o-y fleet growth of 26%.
Logistics revenues (excluding fuel surcharge) for Q1 2022 were $545.7m, an increase of $189.8m, or 53%, compared to Q1 222, due to increased revenue per order and 24% brokerage volume growth over the prior year. Logistics income from operations for Q1 2022 were $41.9m, an increase of $5.8m, or 164% y-o-y, compared to the same period of 2021.
Source: Schneider
