Loading...
•
Dec 31, 2022
Saia Q4 2022 Earnings Report
Saia's Q4 2022 financial performance was impacted by slowing volumes, but revenue still grew due to solid pricing and increased fuel surcharge revenue.
Key Takeaways
Saia Inc. reported a 6.3% increase in revenue for Q4 2022, reaching $655.7 million, a new fourth quarter record. However, diluted earnings per share decreased to $2.65 compared to $2.76 in Q4 2021, and operating income also saw a decrease. The company's expansion efforts continue with a focus on enhancing customer service and extending its service offering.
Revenue increased by 6.3% to $655.7 million, a fourth quarter record.
Diluted earnings per share were $2.65, compared to $2.76 in Q4 2021.
Operating income decreased by 4.8% to $92.7 million.
LTL revenue per shipment rose 15.0% to $364.44.
Saia
Saia
Forward Guidance
Saia plans a measured approach to expansion in 2023, with five terminal openings scheduled for the first half of the year and will be opportunistic with openings beyond those. Net capital expenditures are anticipated to be in excess of $400 million, subject to ongoing evaluation of market conditions.
Positive Outlook
- Expansion efforts to enhance customer service.
- Expansion efforts to extend high quality service offering into more communities.
- Robust pipeline of more than 30 properties to support additional openings.
- Strong balance sheet positions company well for cyclicality.
- Ability to continue to invest in fleet, technology, properties and people.
Challenges Ahead
- Slowing volumes throughout the quarter.
- December tonnage per day was down 13.2%.
- Inherent cyclicality in the industrial economy.
- Ongoing evaluation of market conditions impacting capital expenditures.
- Potential impact of market conditions on expansion plans.