Saia reported strong third quarter financial results with revenue up, operating income down

From GlobeNewswire: 2024-10-25 07:30:00

Saia, Inc. reported third quarter 2024 financial results with diluted earnings per share of $3.46. Revenue was $842.1 million, up 8.6%, while operating income decreased by 2.5%. LTL shipments and tonnage per workday increased, with revenue per hundredweight and per shipment also rising. The company continues to expand its terminal footprint, enabling direct service in all 48 contiguous states.

Saia’s President and CEO, Fritz Holzgrefe, highlighted the opening of 11 new terminals in the Great Plains states during the quarter. This expansion allows for better customer service and enhances the company’s value proposition. CFO Matt Batteh noted the continued growth strategy, including investing in new terminals. The company had $14.4 million cash on hand and total debt of $191.0 million at the end of the quarter.

Net capital expenditures for the first nine months of 2024 were $873.2 million, with plans for approximately $1 billion in total for the year. Saia opened a new terminal in Akron, Ohio, with up to three more planned for the fourth quarter. The company offers less-than-truckload, truckload, expedited, and logistics services at 211 terminals nationwide. Saia encourages caution when considering forward-looking statements due to various economic factors and uncertainties.

Investors can join the conference call today at 10:00 a.m. Eastern Time to discuss quarterly results by dialing 1-800-715-9871 or 1-646-307-1963 with conference ID #7664986. The call will also be webcast live on the Saia website. A replay will be available for two hours after the call. Saia remains focused on long-term success and providing comprehensive national coverage to customers, positioning the company for continued growth.



Read more at GlobeNewswire:: Saia Reports Third Quarter Results