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Jun 30, 2024
Saia Q2 2024 Earnings Report
Saia's financial performance increased, driven by revenue growth and strategic network expansion.
Key Takeaways
Saia Inc. reported strong second-quarter results with an 18.5% increase in revenue to $823.2 million and diluted earnings per share of $3.83, compared to $3.42 in the same quarter last year. The company's growth was supported by the opening of new terminals and strategic investments in its network, despite a softer macroeconomic environment affecting revenue per bill and the operating ratio.
Revenue increased by 18.5% to $823.2 million compared to the second quarter of 2023.
Operating income rose by 14.4% to $137.6 million.
Diluted earnings per share increased to $3.83 from $3.42 in the prior year.
The company opened six new terminals and relocated two others, expanding its network.
Saia
Saia
Forward Guidance
Saia anticipates continuing its expansion strategy by potentially opening an additional 10 to 13 new terminals in 2024, while focusing on maintaining high service levels and managing costs in a dynamic market environment.
Positive Outlook
- Continued execution of long-term growth strategy.
- Further value to existing customers.
- Development of relationships with new customers in new and established markets.
- High service levels.
- Doubled down on quality focus by increasing training investment in new team members.
Challenges Ahead
- Freight backdrop and macroeconomic conditions remain uncertain.
- Mix of business is more retail in nature and tends to be lighter weighted.
- Softer macroeconomic environment.
- Drag on revenue per bill.
- Drag on operating ratio.