Tariffs and other market forces pulled the rug out from under Saia in the first quarter.
The company’s rapid growth following Yellow Corp.’s 2023 collapse has been met by a customer base that is now spooked by the prospect of a protracted trade war. Incremental costs from carrying 25% to 30% excess capacity in anticipation of a market turn collided with subseasonal demand in March, producing results much worse than investors had feared.
Saia (NASDAQ: SAIA) reported first-quarter earnings per...
Less-than-truckload carrier Saia said it didn’t get the March lift in demand it normally sees as customers pulled back in response to trade uncertainty.
Johns Creek, Georgia-based Saia (NASDAQ: SAIA) reported first-quarter earnings per share of $1.86 before the market opened on Friday. The result was well light of the $2.76 consensus estimate and the $3.38 the carrier posted in the year-ago period.
Further, the consensus number came down 31 cents in the 90 days ahead of the print as analysts...
https://www.freightwaves.com/news/saia-badly-misses-q1-mark-shares-off-24-pre-market
Las acciones de transporte lo llevaron a la barbilla tras el anuncio de la administración Trump de aranceles generalizados después de que el mercado cerró el miércoles. A las acciones menos que la carga de camiones les fue lo peor en las dos sesiones comerciales después del Día de la Liberación, ya que los inversores […]
Esta entrada Las existencias de LTL ensangrentadas después del día de la liberación, estimaciones recortadas antes de los informes del primer trimestre Aparece primero en FullAva...
Transportation stocks took it on the chin following the Trump administration’s announcement of widespread tariffs after the market closed on Wednesday. Less-than-truckload stocks fared the worst in the two trading sessions following Liberation Day as investors who entered the year hopeful for a positive inflection in the industrial complex appear to have called it quits for the time being.
Less-than-truckload stocks fell 18% over the two-day period and are off 33% year-to-date (both on an...
Less-than-truckload carrier Saia is laying off its customer service teams, opting to have local terminals handle the service function moving forward, a source close to the matter told FreightWaves.
The source said the layoffs will impact an undetermined number of customer service representative teams in Atlanta and Boise, Idaho, among other locations. Employees were given 60 days’ notice with the opportunity to earn a bonus if they remain on board throughout that period, the source said.
A...
https://www.freightwaves.com/news/saia-moving-customer-service-function-to-its-terminals
Knight-Swift Transportation announced Friday that Doug Col, former chief financial officer at less-than-truckload carrier Saia, joined its board of directors effective Thursday.
Col retired from Saia in May after 10 years of service. He joined in 2014 as vice president and treasurer and was tapped to be CFO in 2020.
Col joins Knight-Swift (NYSE: KNX) as it looks to add a major presence in the Northeast – the last significant hole in what will become a national LTL footprint.
He was with Saia (NASDA...
Los inversores deben favorecer las existencias de transporte atado industrial con iniciativas idiosincráticas de autoayuda, según un informe que relata la cobertura del espacio por parte de Deutsche Bank. La firma de inversión emitió calificaciones de «Comprar» en tres operadores de carga menos que...
Investors should favor industrial-tethered transportation stocks with idiosyncratic, self-help initiatives, according to a report relaunching Deutsche Bank’s coverage of the space. The investment firm issued “buy” ratings on three less-than-truckload carriers, a pair of railroads and a couple other companies on Friday.
Equity research analyst Richa Harnain told clients the industrial complex appears ready to shake a two-year downturn and that any turnaround could be amplified by the new...
https://www.freightwaves.com/news/deutsche-bank-eyes-industrial-rebound-endorses-these-transports
A pair of less-than-truckload carriers on somewhat divergent paths provided first-quarter updates on Tuesday that displayed no material change of course. Old Dominion Freight Line saw volumes sag again in February as it plays the long game at the bottom of the cycle, while competitor Saia reported another large tonnage increase as it fills its recently expanded network through the downturn.
Thomasville,...
Less-than-truckload carrier Saia took market share again in the fourth quarter, but margins slid as new business wins and terminals came online. The company is at the tail end of an intense network growth initiative that has catapulted it to a national carrier serving all 48 contiguous states. The focus will now shift to pricing and margin opportunities.
Saia (NASDAQ: SAIA) beat fourth-quarter expectations Monday, reporting earnings per share of $2.84, 7 cents higher than the consensus estimate...
https://www.freightwaves.com/news/saia-excited-about-pricing-opportunities-across-expanded-network