Schneider National, Inc. (NYSE:SNDR) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 10:30 am ET

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Schneider National, Inc. (NYSE:SNDR) Q2 2020 Earnings Conference Call - Final Transcript

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Operator
Operator

Greetings. Welcome to Schneider National's Second Quarter 2020 Earnings Call.

[Operator Instructions]

Please note this conference is being recorded. I will now turn the conference over to your host, Steve Bindas. You may begin.

Executive
Steve Bindas

Thank you, operator, and good morning, everyone. Joining me on the call today are Mark Rourke, President and Chief Executive Officer; and Steve Bruffett, Executive Vice President and Chief Financial Officer.

Earlier today, the company issued an earnings press release, which is available on the Investor Relations section of our website at schneider.com.

Our call will include remarks about future expectations, forecasts, plans and prospects for Schneider, which constitute forward-looking statements for the purposes of the safe harbor provisions under applicable federal securities laws. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. The company urges investors to review the risks and uncertainties discussed in our SEC filings, including, but not limited to, our most recent Form 10-K and those risks identified in today's earnings release. All forward-looking statements are made as of the date of this call and Schneider disclaims any duty to update such statements, except as required by law.

In addition, pursuant to Regulation G, a reconciliation of any non-GAAP financial measures referenced during today's call can be found in our earnings release, which includes reconciliations to the most directly comparable GAAP measures.

Now I'd like to turn the call over to our CEO, Mark Rourke. Mark?

Executive
Mark Rourke

Thank you, Steve. Hello, everyone, and thank you for joining the Schneider call today.

I will open with a few summary comments on the quarter regarding our operating segments. And then before we get to your questions, I'm going to ask Steve Bruffett just to provide some additional insight on the overall enterprise results, our strong liquidity position and the reintroduction of earnings guidance based upon the best information we have available at this time.

As it relates to the quarter, it was a demanding one, and I'm especially grateful and proud of the resiliency, our associates demonstrated daily, especially our professional drivers. In these highly uncertain and fluid times, our key business priorities are to first safeguard the health and safety of our associates, and secondly, to adapt after the dynamic freight demand needs of our valued customer community.

At Schneider, we have nearly 19,000 associates and owner-operators across the globe, and nearly 4 out of 5 of them must report to work daily to fulfill our promises to customers. They are drivers, shop, warehouse and driver services professionals, and they continue to shine in keeping goods flowing across the nation's supply chain.

The impacts of COVID-19 in our daily work lives are pronounced. Since the onset of the pandemic, we've had over 100 associates who have experienced a confirmed COVID diagnosis. Fortunately, all of them have recovered or in the process of recovering from the effects. We have supported another 800 associates or so who have gone through monitoring protocols due to a potential exposure. For those