Fleet Management

Schneider Files Paperwork Preparing to Go Public

December 22, 2016

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Schneider National Inc. has filed paperwork with the Securities and Exchange Commission in preparation for going public with an initial public stock offering of up to $100 million.

The Wisconsin-based fleet, one of the largest carriers in the U.S. with some 11,000 trucks, intends to use the proceeds for general corporate purposes, including paying off debt, capital expenditures and potential acquisitions.

The number of shares to be offered and the price range have not yet been determined. Schneider said it intends to apply to list its Class B common stock on the New York Stock Exchange under the symbol SNDR.

Founded in 1935, the family-owned company posted revenues of $3.96 billion in 2015 and generated net profits of $140.9 million, according to the Financial Times. The SEC filing indicates that Schneider generated $109.1 million in profits during the first nine months of 2016, up 17% from the same period a year earlier. Revenue during the same period was $2.98 billion, up 1.5% from a year earlier.

Schneider announced in October that it was planning to pursue an IPO in 2017, subject to satisfactory market conditions.

According to a company statement at that time, “the objectives of the planned transaction are to facilitate continuity of controlling ownership of Schneider by the future generations of the Schneider family, while continuing forward with its long-standing, independent, and professional, corporate governance structure.”  

Comments

  1. 1. MC [ January 06, 2017 @ 04:47AM ]

    So the beginning of the end for Schneider National. The Schneider family has essentially slit their wrists and left a blood trail for the Wall Street wolves to sniff out. Within 10 years, this company will give up 40% or more of it's ownership to scumbag "investment companies" who will squeeze the company dry and sell it off as a lifeless husk. Why anyone would even consider going public (other than start-ups looking to cash-out quickly), when considering the state and reputation of Wall Street the past 20 years, completely baffles my mind.

  2. 2. Jelly Roll [ January 06, 2017 @ 06:09AM ]

    You won't make a lot of money driving for them, so I guess here's your chance. After the old man died they completely dumped on his grave and all that he stood for. This company and the greedy bastards that run it now, are living proof that money is more important than people. One more case where a great company, with great values gives it up to get paid!

  3. 3. William Scott Womack [ January 06, 2017 @ 06:36AM ]

    We are slaves being bought and sold for a paycheck. To God be The Glory!

  4. 4. William Scott Womack [ January 06, 2017 @ 06:38AM ]

    I will be glad when Fred Zuckerman starts a new truck drivers exclusive union, taking care of us because we keep America rolling!

  5. 5. mama_bear [ January 06, 2017 @ 09:09PM ]

    There is no way Schneider has 11,000 trucks on the road anymore. They just had a big sell off of trucks they actually owned. If you're in financial trouble.. wouldn't you keep the trucks you own and get rid of trucks with lease payments?
    I knew they were in trouble when they laid off 25,000 corporate employees back around 2009 or 10.
    Papa Schneider must be rolling in his grave if he knew what was going on.

 

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