Good morning and Welcome to the 2019 Annual Shareholders' meeting of Schneider National Incorporated. I'm Dan Sullivan, Chairman of the board of directors of Schneider. It is my pleasure to welcome all of the shareholders attending through our web portal to our second annual meeting as a public company. We will conduct the business portion of our meeting first, followed by some remarks by our incoming CEO, Mark Rourke, and a question-and-answer session. It is now shortly after 8:00 A.M. Central Time on April 29th, 2019, and this meeting is officially called to order. The meeting is scheduled to last until 8:30 A.M. Now I would like to introduce the other members of Schneider's board of directors. Chris Lofgren is Schneider's President and Chief Executive Officer and has served as one of our directors since 2002. Mary DePrey has served as one of our directors since 2018.
She engages in philanthropic work and serves on the board of a variety of nonprofit organizations. Tom Gannon has served as one of our directors since 2005. He retired as a Schneider executive in 2017 after serving in various roles during his 35 years with the company. Jim Giertz has served as one of our directors since 2017. He was Chief Financial Officer of H.B. Fuller Company from 2008 until 2016, and he retired from that company in 2017. Adam Godfrey has served as one of our directors since 2005. He is a managing partner of Stella Point Capital, which he founded in 2012. Bob Grubbs has served as one of our directors since 2012. He is the non-executive chairman of Ohio Transmission Corporation. Norm Johnson has served as one of our directors since 2006.
He is also a member of the board of directors of Cracker Barrel Old Country Store, Incorporated. James Welch has served as one of our directors since 2018. He is also a member of the board of directors of SkyWest, Incorporated. Kathleen Zimmerman has served as one of our directors since 2017. She is a real estate investor. In addition to our directors, representatives of Deloitte & Touche, our independent auditors are also in attendance at today's meeting. They will be available during the question-and-answer session after the meeting to respond to questions. Nick Anderson, our Acting General Counsel and Corporate Secretary, will be acting as secretary for today's meeting. I will now turn things over to Nick for the business portion of the meeting.
Thanks, Dan. I would first like to remind everyone listening to today's meeting that some of the comments made are forward-looking statements. These statements are subject to risks and uncertainties, including those described in our filings with the Securities and Exchange Commission. Our actual results may differ materially from those described during the meeting. In addition, any and all forward-looking statements are made as of today. Schneider does not undertake to update any forward-looking statements based on new circumstances or revised expectations. Next, I would like to introduce Jean Castillo of Broadridge Financial Solutions, who has been appointed to act as inspector of election at today's meeting. Ms. Castillo is with us today, and she has taken the inspector of election oath. I have received an affidavit of mailing from Broadridge advising that notice of the meeting was provided to shareholders in keeping with applicable requirements.
Specifically, on or about March 14th, 2019, either a notice of internet availability of the annual meeting documents or the documents themselves were mailed to all shareholders who owned shares on February 19th, 2019, which is the record date for today's meeting. Our shareholder list shows that as of the record date, there were 83,029,500 shares of Class A common stock and 94,622,306 shares of Class B common stock outstanding and entitled to vote at this meeting. We are informed by the inspector of election that there are represented in person or by proxy shares of common stock representing more than a majority of the votes entitled to be cast on the annual meeting matters as of the record date. Accordingly, a quorum is present for purposes of transacting business. The polls are now open.
Any shareholders who haven't yet voted or who wish to change their votes may do so by clicking on the voting button on the web portal and following the instructions there. Shareholders who sent in proxies or voted by telephone or internet and who do not want to change their votes do not need to take any further action. As described in our proxy statement, there are three matters to be voted upon at today's meeting. Proposal one is the election of directors. The current board has nominated 10 individuals for election as directors to hold office until the 2020 annual meeting of shareholders and until their successors are duly elected and qualified. The 10 director nominees are Mary P. DePrey, James R. Giertz, Adam P. Godfrey, Robert W. Grubbs, Norman E. Johnson, Mark B. Rourke, Daniel J. Sullivan, John A. Swainson, James L. Welch, and Kathleen M. Zimmerman.
Proposal two is the ratification of the appointment of Deloitte & Touche LLP to serve as our independent registered public accounting firm for 2019. Proposal three is an advisory vote to approve the compensation of our named executive officers. Now that everyone has had the opportunity to vote, I declare the polls for the 2019 annual shareholder meeting of Schneider National, Inc. closed. We have been informed by the inspector of election that the preliminary vote report shows that, one, each of the nominees for election to the board has been duly elected, two, the appointment of Deloitte & Touche has been ratified, and three, the compensation of the named executive officers has been approved by advisory vote. We will be reporting the final voting results in a Form 8-K to be filed with the SEC within four business days. That concludes the business portion of our meeting.
Thank you, Nick. It's now time for Mark Rourke, our incoming President and Chief Executive Officer, to provide some comments on the business, after which we will take shareholder questions. If you would like to submit a question, please use the designated field on the web portal to do so. Out of consideration for others, please limit yourself to one question. We will try to answer as many questions as time allows, but only questions that are relevant to the meeting will be addressed. Any relevant questions that we do not get to today will be addressed either directly with the shareholder who submitted the question or on our company website. With that, I will turn things over to Mark.
Good morning, everyone. Thank you for joining the meeting. In 2018, we demonstrated the value of our broad portfolio of services with truckload, intermodal, and logistics, all operating at competitive scale and delivering strong margins for the respective segments. We leveraged our ability to pivot growth capital and resources to the less driver-intensive segments of intermodal and logistics, and we offered our diversified customer base additional coverage and service alternatives while capitalizing on market conditions to deliver record operating earnings. Contract price improvements and effective freight selection utilizing our Quest technology platform in our truckload segment resulted in revenue and earnings growth. In the intermodal segment, we enjoyed industry-leading order volume growth, lower equipment costs with the 2017 conversion to our own chassis, and excellent company driver dray execution performance, driving an operating ratio improvement of nearly 700 basis points compared to 2017.
Finally, logistics surpassed $1 billion in annual revenues for the first time and expanded margins each quarter of 2018. I'm very pleased with the results of the year. Now that we're in 2019, we continue to focus on growth in our intermodal and Logistics segments and on improving the operating ratio in our Truckload segment. We will enhance all touchpoints of our drivers' experience to ensure effective utilization of their time. We will advance our Quest platform and be thoughtful and disciplined in our deployment of capital to the areas of the business that will generate the best returns given market conditions. Looking later in the year, we anticipate a capacity market that's likely to contract further due to the full electronic logging device rule adoption, as well as the implementation of the Commercial Driver’s License Drug and Alcohol Clearinghouse that goes into effect on January 4th of 2020.
In closing, I want to say thank you to our nearly 19,000 associates across the globe who delivered record results in 2018. I also want to thank our shareholders that have placed their trust in us. We will continue to work hard every day to position the organization for long-term sustainable success.
Seeing no meeting-related questions at this time, I will turn the meeting back over to Dan Sullivan.
The 2019 annual shareholders' meeting of Schneider National Incorporated is now adjourned. Thank you again for attending our annual meeting. We appreciate your interest in and support of Schneider and hope you will join us again next year.
Ladies and gentlemen, the conference has concluded. Thank you for attending today's presentation. At this time, you may disconnect.