Schneider National, Inc.

Thank you for standing by. My name is Jail, and I will be your conference operator today. At this time, I would like to welcome everyone to the Schneider National Fourth Quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, simply press star one again. I would now like to send the conference over to Christine McGarvey, Vice President of Investor Relations. You may begin.

Thank you, Operator, and good morning, everyone. Joining me on the call today are Mark Work, President and Chief Executive Officer, Daryl Campbell, Executive Vice President and Chief Financial Officer, and Jim Filter, Executive Vice President and Group President of Transportation and Logistics. Earlier today, the company issued an earnings press release. This release and an investor presentation are available on the Investor Relations section of our website at Schneider.com. Our call will include remarks about future expectations, forecast plans, and prospects for Schneider. These constitute forward-looking statements for the purpose of the safe harbor provisions under applicable federal security 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 annual report on 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, reconciliation of any non-GAAP financial measures referenced during today's call can be found in our earnings release and investor presentation, which includes reconciliations to the most directly comparable GAAP measures. Now, I'd like to turn over the call to our CEO, Mark Orr.

Thank you, Christine. Hello, everyone, and thank you for joining the Schneider call today. I want to begin by acknowledging that the fourth quarter results fell short of our expectations. When we provided an update last quarter, October results and market conditions were supportive of finishing 2025 at approximately 70 cents of earnings per share. However, November and much of December were materially more challenged than our guidance had contemplated, reflecting a very truncated peak season and poor weather conditions throughout the Midwest. We saw momentum as we exited the year, which we believe is a direct result of supply attrition in our industry in the last several months. We believe we're in the early innings of normalizing market conditions, in part due to the various regulatory actions being taken. Importantly, these actions are only driving capacity to exit the market at an accelerated rate, but the ability to backfill new entrants is also increasingly diminished. We expect the full impact will likely be measured in quarters, not months. Still, the last several years have proved to be a challenging backdrop, and we are not satisfied with our results. During this downturn, we've made strides in lowering our cost-to-serving network, changes that are structural, and will improve our operating leverage going forward. At the same time, we have grown our dedicated offerings to nearly 70% of our fleet, increasing the durability and resilience of our truckload segment. We've created true differentiation of value in the marketplace in our intermodal offering, and scaled our flexible asset-light, tech-enabled solutions, all of which have been supplemented with our accretive acquisitions. We recognize that an improvement in market conditions is needed for the full benefit of these investments to be evident, but we believe we will exit this down cycle more ready than ever to meet a market correction. We are not simply waiting for improved cycle dynamics. We enter 2026 with more conviction in the importance of continuing to execute our strategic initiatives to drive structural improvement in our business. We are carrying momentum from our cost savings program, including ramping synergies in our acquired companies, leading intermodal growth, including the recent launch of our intermodal fast track service, heavy dedicated startup activity, and network earnings improvement into this year. I will provide more commentary on our outlook and expectations for 2026, But first, I want to hand the call over to Daryl, who will provide more comprehensive overview of fourth quarter results.