JOHNS CREEK, Ga., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, announced that it will release its quarterly financial results before the market opens on Friday, October 25th. Saia management will host a conference call to discuss the results later that morning at 10:00 a.m. Eastern Time. To participate in the call, please dial 1-800-715-9871 or 1-646-307-1963 ...

Saia reported another month of strong demand in August. Shares of Saia (SAIA -0.82%), the less-than-truckload (LTL) logistics provider were among the winners last month as the company reported solid metrics from July and August, and won some positive notes from Wall Street analysts. As a result, the stock gained 16% for September, according to data from S&P Global Market Intelligence. As you can see from the chart below, the stock jumped early in September on its monthly-shipping report and continued to cli ...

JOHNS CREEK, Ga., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Saia Inc. (NASDAQ: SAIA), a leading lessthan-truckload (LTL) carrier, is excited to announce the expansion of its network with the opening of six new terminals during the month of August. These new facilities are part of Saia's planned Western expansion to enhance service capabilities and support a growing customer base in this important region. The schedule for the terminal openings is as follows: Aug. 12: Cheyenne, Wyoming Saia is thrilled to open its ve ...

Saia, Inc. (NASDAQ:SAIA) Q2 2024 Earnings Conference Call July 26, 2024 10:00 AM ET Company Participants Matt Batteh - Executive Vice President & Chief Financial Officer Fritz Holzgrefe - President and Chief Executive Officer Conference Call Participants Ken Hoexter - Bank of America Daniel Imbro - Stephens Fadi Chamoun - BMO Capital Markets Chris Wetherbee - Wells Fargo Tom Wadewitz - UBS Jon Chappell - Evercore ISI Jordan Alliger - Goldman Sachs Ravi Shanker - Morgan Stanley Eric Morgan - Barclays Uday Kh ...

Financial Performance - Operating revenue for Q2 2024 was $823,244,000, a 18.5% increase from $694,622,000 in Q2 2023[12] - Net income for Q2 2024 reached $102,519,000, up 12.3% from $91,319,000 in Q2 2023[12] - Operating income for the first half of 2024 was $255,505,000, a 16.4% increase from $219,398,000 in the same period of 2023[12] - Basic earnings per share for Q2 2024 was $3.84, compared to $3.43 in Q2 2023, representing an increase of 12.0%[12] - Net income for the six months ended June 30, 2024, was $193,214,000, an increase of 15.4% compared to $167,416,000 for the same period in 2023[19] - Basic earnings per share for the six months ended June 30, 2024, was $7.24, up from $6.29 in the same period of 2023, representing a 15.1% increase[30] - Consolidated operating income for the second quarter of 2024 was $137.6 million, an increase of 14.4% compared to $120.3 million in the prior year quarter[62] - Consolidated operating income for the first six months of 2024 was $255.5 million, up 16.5% from $219.4 million in the same period in 2023[64] - Net income for the second quarter of 2024 was $102.5 million, or $3.83 per diluted share, compared to $91.3 million, or $3.42 per diluted share, in the second quarter of 2023[68] Assets and Liabilities - Total assets increased to $2,957,122,000 as of June 30, 2024, compared to $2,583,565,000 at the end of 2023, reflecting a growth of 14.5%[10] - Total current liabilities slightly increased to $327,828,000 from $322,056,000 at the end of 2023[10] - Long-term debt, less current portion, increased significantly to $169,098,000 from $6,315,000 at the end of 2023[10] - Total debt increased to $176,675,000 as of June 30, 2024, compared to $16,488,000 at the end of 2023[34] - The company has a $300 million revolving credit facility, with $67 million borrowed and $32.2 million in outstanding letters of credit as of June 30, 2024[36] Cash Flow and Investments - The company invested $681,919,000 in property and equipment, significantly higher than $227,022,000 in the previous year, marking a 200.5% increase[19] - Net cash provided by operating activities decreased to $237,242,000 from $291,405,000, a decline of 18.6%[19] - Cash flows provided by operating activities for the first six months of 2024 were $237.2 million, down from $291.4 million in the same period last year[53][58] Operating Metrics - The operating ratio was 83.3% in Q2 2024, slightly higher than 82.7% in Q2 2023[53] - LTL shipments rose by 18.1% to 2.3 million, while LTL tonnage increased by 9.7% to 1.6 million tons in Q2 2024 compared to the prior year[52][59] - LTL revenue per hundredweight, excluding fuel surcharge, increased by 8.7% to $21.69 in Q2 2024[59] Employee Compensation - Salaries, wages, and employee benefits increased by $60.4 million in the second quarter of 2024, primarily due to a 4.1% company-wide wage increase and increased headcount[63] - The company implemented a market competitive salary and wage increase of approximately 4.1% effective July 2024, expected to be partially offset by productivity gains[70] Compliance and Governance - The company is in compliance with its debt covenants as of June 30, 2024, under both the revolving credit facility and the private shelf agreement[35][40] - The Company conducted an evaluation of its disclosure controls and concluded they are effective as of the end of the reporting period[96] - There were no material changes to the risk factors identified in the Annual Report for the year ended December 31, 2023[106] - The company has no changes in internal control over financial reporting that materially affected its financial reporting[97] Tax and Obligations - The effective tax rate was 24.4% for the quarter ended June 30, 2024, compared to 24.7% for the same quarter in 2023[67] - As of June 30, 2024, the Company has total contractual obligations for operating leases amounting to $147.6 million, with finance leases at $10.0 million[88] - The Company has purchase obligations totaling $153.0 million, including $152.8 million for capital expenditures as of June 30, 2024[88] - The Company has accrued approximately $4.4 million for uncertain tax positions and $86.9 million for claims and insurance liabilities as of June 30, 2024[90] - The Company has a total outstanding letters of credit of $32.2 million and surety bonds of $59.6 million as of June 30, 2024[89] Stock and Debt Issuance - The Company issued $100 million in senior promissory notes under a private shelf agreement, with an interest rate of 6.09% per annum[38] - The Company purchased a total of 2,300 shares of its stock during the three months ended June 30, 2024, at an average price of $417.55[107] Depreciation and Amortization - Depreciation and amortization expenses rose to $101,385,000 from $87,538,000, reflecting a 15.7% increase year-over-year[19] - The company extended the estimated useful lives of certain trailers and dollies from 14 years to 20 years, resulting in a $1.5 million increase in net income for the six months ended June 30, 2024[29]

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. The reported revenue compares to the Zacks Consensus Estimate of $821.6 million, representing a surprise of +0.20%. The company delivered an EPS surprise of -4.25%, with the consensus EPS estimate being $4.00. Operating Ratio: 83.3% versus 82.6% estimated by five analysts on average. LTL (Less-Than-Truckload) Reve ...

Group 1: Company Performance - Saia reported revenues of $823.24 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.20% and up from $694.62 million a year ago [1] - The company achieved quarterly earnings of $3.83 per share, which was below the Zacks Consensus Estimate of $4 per share, compared to earnings of $3.42 per share a year prior [7] - Over the last four quarters, Saia has surpassed consensus revenue estimates three times and consensus EPS estimates two times [1][6] Group 2: Market Comparison - Saia shares have increased approximately 11.6% since the beginning of the year, while the S&P 500 has gained 13.2% [2] - The current Zacks Rank for Saia is 2 (Buy), indicating expectations for the stock to outperform the market in the near future [4] Group 3: Future Outlook - The consensus EPS estimate for the upcoming quarter is $4.11 on revenues of $839.5 million, and for the current fiscal year, it is $15.32 on revenues of $3.23 billion [11] - The estimate revisions trend for Saia is currently favorable, which may influence future stock performance [4][10] - The outlook for the Transportation - Truck industry is currently in the bottom 9% of Zacks industries, which could impact Saia's stock performance [12]

Revenue and Operating Income - Revenue for Q2 2024 was $823.2 million, an 18.5% increase compared to the same period in 2023[13] - Operating income for Q2 2024 was $137.6 million, a 14.4% increase year-over-year[13] - Operating revenue for Q2 2024 increased to $823.244 million, up 18.5% from $694.622 million in Q2 2023[21] - Operating income for Q2 2024 grew to $137.593 million, up 14.4% from $120.255 million in Q2 2023[21] LTL Performance Metrics - LTL shipments per workday increased by 18.1% in Q2 2024[13] - LTL tonnage per workday increased by 9.7% in Q2 2024[13] - LTL revenue per hundredweight, excluding fuel surcharge revenue, increased by 8.7% in Q2 2024[13] - LTL tonnage grew by 9.7% to 1,559 in Q2 2024 compared to 1,421 in Q2 2023[22] - LTL shipments increased by 18.1% to 2,327 in Q2 2024 from 1,970 in Q2 2023[22] - LTL revenue per hundredweight (cwt.) rose by 8.0% to $25.75 in Q2 2024 from $23.85 in Q2 2023[22] - LTL revenue per shipment remained stable at $345.07 in Q2 2024, a slight 0.3% increase from $344.08 in Q2 2023[22] Capital Expenditures and Financial Position - Net capital expenditures were $681.3 million in the first six months of 2024, compared to $226.5 million in the same period in 2023[16] - The company ended Q2 2024 with $11.2 million in cash on hand and total debt of $176.7 million, compared to $235.0 million in cash and $21.4 million in debt at the end of Q2 2023[4] - The company anticipates net capital expenditures of approximately $1 billion for 2024, subject to market conditions[16] Operating Expenses - Operating expenses for Q2 2024 totaled $685.651 million, up 19.4% from $574.367 million in Q2 2023[21] - Salaries, wages, and employees' benefits increased to $372.240 million in Q2 2024, up 19.4% from $311.888 million in Q2 2023[21] - Fuel, operating expenses, and supplies rose to $160.877 million in Q2 2024, a 20.5% increase from $133.490 million in Q2 2023[21] Net Income - Net income for Q2 2024 rose to $102.519 million, a 12.3% increase from $91.319 million in Q2 2023[21] Operating Ratio - The operating ratio for Q2 2024 was 83.3%, compared to 82.7% in Q2 2023[13] Terminal Expansion - The company opened six new terminals and relocated two others in Q2 2024, with plans to open an additional 10 to 13 terminals by the end of the year[3]

JOHNS CREEK, Ga., July 22, 2024 (GLOBE NEWSWIRE) -- Saia Inc. (NASDAQ: SAIA) is thrilled to announce the opening of Saia LTL Freight's newest terminals in Stockton, California, and Davenport, Iowa. These openings represent another significant step in Saia's strategic plan to enhance service capabilities and support our expanding customer base in these important regions. "With each new terminal, we remain committed to providing industry-leading service," added Sugar. "Our success is built on our ability to d ...

JOHNS CREEK, Ga., July 09, 2024 (GLOBE NEWSWIRE) -- Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, announced that it will release its quarterly financial results before the market opens on Friday, July 26th. Saia management will host a conference call to discuss the results later that morning at 10:00 a.m. Eastern Time. To participate in the call, please dial 1-800-715-9871 or 1-646-307-1963 ref ...