As Schneider Goes Public, Chief Exec Talks About Trucking Hot Topics
Chris Lofgren, president and CEO, talks about Schneider's $550 million IPO, infrastructure funding, autonomous vehicles, and the driver shortage.
Schneider, a family-owned company since it was founded in 1935, raised an estimated $550 million in its initial public offering Thursday, according to published reports.
The Green Bay, Wisconsin-based fleet is one of the largest trucking operations in the country, with operations not only in truckload, but also in third party logistics, intermodal, last-mile delivery and more.
Schneider's Class B common stock began trading on the New York Stock Exchange Thursday morning under the ticker symbol “SNDR,” after veteran Schnedier driver Bob Wyatt rang the bell to open the day’s trading. The company priced its 28.95 million shares at $19 per share, and it actually entered the market at $19.50. The money will be used to pay down debt and make other investments, such as buying intermodal chassis.
Bloomberg’s Alex Barinka grabbed an interview on the trading floor with Chris Lofgren, president and CEO. In this video, Lofgren discusses not only the IPO, but also infrastructure funding, autonomous vehicles, and the driver shortage.
Asked about the timing for the IPO, with a note that trucking stocks overall are trending up, Lofgren said, “Clearly we move the nations’ economy, and I think everybody is hopeful that we’re going to start seeing growth… also the regulations are going to cause people to have to decide if they’re in or they’re out, and I think that’s going to be good for the industry.”
Watch:
More Fleet Management
Kodiak Lines Up Fleets for Driverless Trucking
An agreement for 75 trucks, a new Texas freight lane, and progress on safety validation move Kodiak closer to its planned driverless highway launch.
Read More →
ITS Logistics Settles Religious Harassment Case
The Nevada-based logistics firm agreed to pay more than $396,000 to settle a religious harassment charge involving an employee's Jewish identity.
Read More →
Your Trucks Are Busy. That Doesn’t Mean They’re Winning.
High utilization doesn’t always mean strong margins. Looking beyond the current load can help fleets make better dispatch decisions and get more value from each truck’s time.
Read More →
Why This Trucking Recovery Is Different
Freight demand remains sluggish, but rising costs and tougher enforcement have taken enough capacity out of the market to change the outlook for motor carriers.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
PrePass Intelligence Mines Fleet Bypass, Toll and Safety Data
PrePass Intelligence helps fleets measure bypass savings, flag potential toll overcharges, and spot suspicious transactions by combining data from separate systems.
Read More →
Motive Adds AI Agents for Fleet Operations
New tools automate follow-up on fleet data, from maintenance work orders to driver alerts, with two-way voice conversations planned for later this year.
Read More →
Can You Beat Our Trucking Trivia Challenge?
Test your truck knowledge with 19 trivia questions from Heavy Duty Trucking Exchange. Can you keep up with the fleet pros?
Read More →
BeyondTrucks Adds Rules Checks to Dispatch
New Compatibility Engine checks driver qualifications, equipment requirements and fleet policies before loads are dispatched.
Read More →
Diesel Prices Hijack Trucking’s Worry List
ATRI’s annual survey finds cautious optimism about freight, but diesel costs, litigation, and insurance continue to squeeze fleets. Drivers have different priorities on several issues.
Read More →