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Sep 30, 2024
Saia Q3 2024 Earnings Report
Saia's Q3 2024 performance reflected revenue growth, offset by decreased operating income and a higher operating ratio, amidst strategic expansion.
Key Takeaways
Saia, Inc. reported an 8.6% increase in revenue to $842.1 million for Q3 2024. However, operating income decreased by 2.5% to $125.2 million, and the operating ratio increased to 85.1%. The company continued its footprint expansion, opening 11 new terminals and relocating one, with a focus on enhancing customer experience and expanding service coverage.
Revenue increased by 8.6% to $842.1 million compared to Q3 2023.
Operating income decreased by 2.5% to $125.2 million.
Diluted earnings per share were $3.46, compared to $3.67 in Q3 2023.
Opened 11 new terminals and relocated one, expanding direct service to all contiguous 48 states.
Saia
Saia
Forward Guidance
Saia anticipates opening up to 3 additional new terminals in the fourth quarter, resulting in 21 new openings for the year. This investment aims to provide comprehensive national coverage and position the company for long-term success, despite some uncertainty in the forward outlook.
Positive Outlook
- Continued investment in customer experience.
- Expansion of addressable market for new and existing customers.
- Enhanced service for both new and existing customers.
- New terminal openings provide new solutions to customers.
- Comprehensive national coverage for customers.
Challenges Ahead
- Muted freight backdrop in the third quarter.
- Mix headwinds compared to prior year.
- Uncertainty in the forward outlook.
- Increased operating ratio.
- Decreased operating income.