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Dec 31, 2023
Saia Q4 2023 Earnings Report
Saia's Q4 2023 performance showcased revenue growth and improved operational efficiency.
Key Takeaways
Saia, Inc. reported a 14.5% increase in revenue to $751.1 million and diluted earnings per share of $3.33 for the fourth quarter of 2023, compared to $2.65 in the fourth quarter of 2022. The company's operating ratio improved to 85.0%, and LTL shipments per workday increased by 18.1%.
Revenue increased by 14.5% to $751.1 million.
Diluted earnings per share rose to $3.33, compared to $2.65 year-over-year.
Operating income increased by 21.5% to $112.7 million.
LTL shipments per workday increased by 18.1%.
Forward Guidance
Saia anticipates net capital expenditures of approximately $1 billion in 2024, subject to ongoing evaluation of market conditions. The company plans to open 15-20 new terminals and relocate from a handful of existing properties into new locations in 2024.
Positive Outlook
- Plans to open 15-20 new terminals in 2024.
- Relocation into new locations from a handful of existing properties.
- Winning bidder for the purchase of 17 terminals and lease rights for 11 additional terminal properties.
- Focus on operational excellence to meet customer expectations.
- Aiming to price for high level of service to achieve profitability goals.
Challenges Ahead
- Net capital expenditures will be approximately $1 billion in 2024, subject to ongoing evaluation of market conditions.
- General economic conditions including downturns or inflationary periods in the business cycle.
- Operation within a highly competitive industry and the adverse impact from downward pricing pressures, including in connection with fuel surcharges, and other factors.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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