A lot has gone right for the Yankees in 2024. Even without the services of reigning Cy Young winner Gerrit Cole through the season’s 30% mark, they find themselves atop the American League East by a measure of two games over the second-place Orioles. The Rays, eight games back, are a distant third. Boston and Toronto follow with deficits of 8.5 games and 10.5 games, respectively.

Beyond Cole’s absence, the Yanks dealt with a prolonged slump for 2022 MVP Aaron Judge and have yet to get so much as a single at-bat from DJ LeMahieu due to a fractured foot suffered in spring training. Setup man Jonathan Loaisiga pitched only four innings before requiring internal brace surgery. On the flip side, Juan Soto has lived up to the billing as a middle-of-the-order force. Carlos Rodon and Nestor Cortes both look like the pitchers the Yankees expected them to be in 2023. Marcus Stroman has handled himself well, albeit with an uncharacteristic uptick in walks.

For all the big names turning in marquee and/or rebound performances, the Yankees have also seen substantial improvement from a key in-house arm. Righty Clarke Schmidt was a top prospect long before he made his MLB debut, and he made 29 serviceable starts last season, so it’s not as though he wasn’t expected to contribute at all this year. But heading into the season, Schmidt looked like a clear back-of-the-rotation arm.

About one-third of the way through the 2024 season, that’s no longer the case. Schmidt still looks the part of a big league starter, but he’s taken considerable steps forward and now looks like far more than a garden variety innings eater. Schmidt has upped his velocity by a bit more than a mile per hour on both his cutter (up from 91.5 mph to 92.6 mph) and sinker (93.6 mph in 2023, 94.7 mph in 2024). Schmidt is also taking a page from the Corbin Burnes playbook, throwing more cutters than at any point in his career, and doing so at the expense of his sweeper and sinker. It’s not an overwhelming change in pitch selection, but Schmidt has gone from throwing that cutter around 28% of the time to 35.5% of the time in 2024.

The biggest change for Schmidt, however, isn’t necessarily one of pitch usage but rather of pitch effectiveness. Opponents in 2023 teed off on his sweeper, blasting the pitch at a .276/.331/.559 pace when putting it into play. Opponents basically became 2023-24 Gunnar Henderson when putting Schmidt’s sweeper into play. That’s … not good. (Well, not good for Schmidt.)

In 2024, Schmidt has actually taken a bit of life off that breaking ball. Coupled with the uptick in cutter/sinker velocity, the gap between those harder pitches and his primary breaking ball has widened by around two miles per hour. Last year saw a 5.3 mph gap between his cutter and sweeper, and a 7.4 mph gap between the sinker and sweeper. This year, those differentials are up to respective marks of 6.9 mph and 9.0 mph. Additionally, by measure of Statcast, Schmidt’s sweeper is also generating an extra 3.3 inches of horizontal break over last year’s version of the pitch.

The tweaks are subtle but the changes in Schmidt’s results aren’t. Through his first 10 starts of the season, the right-hander touts a 2.59 ERA (3.54 FIP, 3.38 SIERA). His strikeout rate is up from 21.5% to a career-best 27.2%. His walk rate has worsened, but only slightly, and at 7.6%, it’s still a percentage point better than the league average. Schmidt is generating more swinging strikes (10.2% in 2023, 12.2% in 2024), getting more called strikes and has seen his opponents’ contact rates drop both in the zone and off the plate. A hearty 41% of batted balls against Schmidt last year traveled 95 mph or more, but this year that rate is down to 34.8%. His opponents’ average exit velocity is down roughly one mile per hour. He’s allowing less contact, and the balls that are put into play against him are generally more timid in nature.

Schmidt’s step forward is well-timed for the Yankees on multiple fronts. Not only does it dovetail with a time when rotation depth is paramount for the Yankees as they await Cole’s return, it also comes when Schmidt is still controllable for a considerable period of time. Schmidt is 28 and already into arbitration, earning $2.184MM this season, but he’s a Super Two player who was only first-time eligible this past offseason. The Yankees control him for three more seasons.

While Schmidt’s arb price will rise considerably if he can sustain even 80% of the gains he’s made this season, he’ll still be priced well below market levels at a time when the Yankees are in the final years of some relatively heavy veteran contracts. Stroman ($18.5MM next season, plus an $18MM vesting option for 2026), Anthony Rizzo ($17MM club option), LeMahieu ($15MM in 2025 and 2026), will all still be on the books in the short-term, when Schmidt’s price tag is particularly affordable. Given the Yankees’ long-term commitments to Cole, Judge, Rodon and Giancarlo Stanton — plus their obvious hope of re-signing Soto — having low-cost contributors like Schmidt play key roles is of even greater importance.

Speaking of Soto, his very presence on the roster made it crucial that Schmidt and other in-house arms step up in 2024. The Yankees parted with notable pitching depth to acquire Soto from San Diego, sending Michael King, Jhony Brito, Randy Vasquez and top prospect Drew Thorpe to the Padres in that package. King would’ve been locked into a rotation spot in the Bronx, and each of Brito, Vasquez and Thorpe were depth options for this year’s rotation. You could argue it’s a quantity-over-quality group, but the Soto trade left the Yankees with much less depth to rely on in the event of injuries. A step back from Schmidt would’ve been magnified even further with Cole on the shelf.

Instead, Schmidt has taken significant steps forward — thanks to changes that make much of his improvement feel sustainable. He’s not likely to keep running a sub-3.00 ERA, but Schmidt looks far more like a mid-3.00s type of pitcher than the 2023 version of himself that appeared ticketed for a mid-4.00s mark.