Schneider National announced today, Jan. 25, its 2006 financial results. The private company said it achieved consolidated revenue growth for the 34th consecutive year, ending 2006 with $3.7 billion in revenue, up from $3.4 billion in 2005.
“Like previous years, the transportation and logistics industry faced challenges across the board in 2006 – from the driver shortage to volatile fuel prices and the lack of a traditional surge season in the fourth quarter,” said Chris Lofgren, president and chief executive officer of Green Bay, Wis.-based Schneider National. “Our growth is indicative of our ability to provide customers with creative, forward-thinking solutions that meet their capacity needs without compromising service. By offering differentiated solutions that are both strategic and cost-effective, we will continue to gain momentum this year.”
In 2006, Schneider National expanded its global portfolio of services through the strategic acquisition of American Overseas Air Freight, an international freight forwarder and a licensed U.S. Customs broker, and by announcing its pending acquisition of a Chinese-based carrier to serve the domestic Chinese shipping market.
In addition, the company said it made strides to address the tight driver market by joining forces with AARP to actively recruit mature Americans. Schneider said the effort resulted in a 42 percent increase in mature driver hires and demonstrated the company’s creativity in addressing one of the industry’s most pressing issues.
Schneider said its 2005 revenue results of $3.5 billion were restated to $3.4 billion to account for the divestitures of Schneider Specialized and Schneider Payment Services in summer 2006.
