Shares of Schneider National Inc. (NYSE: SNDR) plummeted as much as 6.77% in pre-market trading on Monday, following the company's disappointing third-quarter earnings report released before the market open.
The trucking and logistics company reported adjusted earnings per share of $0.18 for the quarter, significantly missing analysts' expectations of $0.23. Schneider National's revenue also came in below estimates, at $1.316 billion versus the consensus forecast of $1.330 billion. The top line represented a 2.66% year-over-year decline.
The earnings miss and revenue shortfall suggest that Schneider National faced challenges in the third quarter, potentially due to factors such as higher costs or softer demand for its services. The company's weaker-than-expected financial performance appears to have rattled investors, leading to the sharp selloff in the stock's pre-market trading session.
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