(Reuters) - Trucking firm Schneider National Inc’s (SNDR.N) quarterly profit and revenue topped analysts’ forecasts, boosted by higher prices and robust freight demand in a strengthening U.S. economy.
The company, which operates one of the largest for-hire trucking fleets in North America, also forecast yearly adjusted earnings of $1.32 to $1.44 per share. Analysts on average were expecting $1.34 per share, according to Thomson Reuters I/B/E/S.
The Green Bay, Wisconsin-based company’s profit rose year-over-year to $283.9 million from $47.8 million, gaining from a tax-related benefit of $193.7 million.
Adjusted for one-time items, earnings were 33 cents per share, edging past analysts’ expectations of 32 cents.
Schneider said revenue rose 11.3 percent to $1.19 billion. Analysts had expected $1.15 billion.
Reporting by Sanjana Shivdas and Eric Johnson; Editing by Sai Sachin Ravikumar