Saia

LTL carriers waiting for next demand catalyst in post-Yellow world

Less-than-truckload carriers are hoping an end to a two-year industrial recession will provide a needed volume uptick and bring about a more favorable freight mix. A positive inflection will also allow carriers to fill terminals acquired following Yellow Corp.’s exit.

Yellow’s (OTC: YELLQ) July 2023 shutdown put roughly 8% market share up for grabs, providing the industry with a respite to an ongoing freight recession. However, the newfound volume was quickly absorbed, and the industry is again...

https://www.freightwaves.com/news/ltl-carriers-waiting-for-next-demand-catalyst-in-post-yellow-world

LTL general rate increases buck pricing concerns for industry

Less-than-truckload carrier Old Dominion Freight Line announced Monday a 4.9% general rate increase across multiple tariff codes effective Dec. 2. The GRI announcement follows similar price actions from other carriers in recent weeks, tamping down concerns that the industry is losing its ability to pass through rate increases two years into an industrial recession.

Carriers typically implement GRIs to general tariff codes annually. The stated percentage increase is an expected average of changes...

https://www.freightwaves.com/news/ltl-general-rate-increases-buck-pricing-concerns-for-industry

Saia comfortable with near-term noise amid terminal expansion

Less-than-truckload carrier Saia said it’s not too concerned with lumpy financial performances from quarter to quarter as it builds out a national network through terminal acquisitions. It’s more focused on the long-term capabilities of the business and the returns that can be generated now that it services all 48 contiguous states.

Saia (NASDAQ: SAIA) missed third-quarter expectations Friday, reporting earnings per share of $3.46. The result was 7 cents below the consensus estimate and 21 cents...

https://www.freightwaves.com/news/saia-comfortable-with-near-term-noise-amid-terminal-expansion

Saia Q3 earnings: First look

Less-than-truckload carrier Saia missed analysts’ third-quarter expectations on Friday, reporting earnings per share of $3.46. That was 7 cents light of consensus and 21 cents lower year over year.

Saia’s (NASDAQ: SAIA) revenue increased 8.6% y/y to $842 million. Revenue was up 6.9% y/y on a per-day basis. The per-day revenue increase was driven by a 7.7% increase in tonnage per day, partially offset by a 0.9% decline in revenue per hundredweight, or yield. Excluding fuel, yield was 1.7% higher.

T...

https://www.freightwaves.com/news/saia-q3-earnings-first-look

Saia to open 3 terminals in October, pushing 2024’s count to more than 20

Less-than-truckload carrier Saia announced Monday the opening of three terminals in Kentucky and Ohio. The additions are part of a $1 billion capital expenditures plan that has added more than 20 new facilities to its network this year.

The Johns Creek, Georgia-based carrier said a facility in Akron, Ohio, opened Monday and that two service centers in Bowling Green and Paducah, Kentucky, will open on Oct. 28. The three locations appear to be part of the $236 million, 17-terminal portfolio Saia...

https://www.freightwaves.com/news/saia-to-open-3-terminals-in-october-pushing-2024s-total-to-more-than-20

LTL survey: Daylight Transport No. 1 overall, Old Dominion top national carrier

Daylight Transport was named the top overall less-than-truckload carrier in Mastio & Co.’s annual value and loyalty survey. Old Dominion Freight Line again received top honors among national carriers, a Tuesday report revealed.

The top 5 carriers in the overall group also included Averitt Express (No. 2), Old Dominion (No. 3), Peninsula (No. 4) and Dayton Freight Lines (No. 5). Averitt Express won the category last year and Peninsula was the winner in 2022.

Estes was ranked the No. 2 national...

https://www.freightwaves.com/news/ltl-survey-daylight-transport-no-1-overall-old-dominion-top-national-carrier

Saia to open 3 terminals in September

Less-than-truckload carrier Saia said Wednesday that it will open three terminals in the western U.S. during September. The expansion is part of a bigger plan to open 18 to 21 new facilities this year.

Two new terminals in Bismarck and Fargo, North Dakota, will be the carrier’s first locations in the state. A new terminal in Sidney, Montana, will be its fourth in that state. Earlier this year, Saia (NASDAQ: SAIA) opened its first Montana location in Missoula. The Bismarck location appears to be...

https://www.freightwaves.com/news/saia-to-open-3-terminals-in-september

LTL earnings estimates cut following weak August updates

Susquehanna Financial Group cut earnings estimates for less-than-truckload carriers following weaker-than-expected volume updates for August. The investment firm pushed out its call for a “gradual recovery” in demand to 2025, with the expectation that 2026 will deliver “more meaningful performance.”

“As we exit 3Q, we’ve been right on pricing holding up so far, but wrong on demand as underlying LTL volumes trended sideways-to-softer instead of sequentially strengthening,” analyst Bascome Majors...

https://www.freightwaves.com/news/ltl-earnings-estimates-cut-following-weak-august-updates

LTL carriers see softer volume trends in August

A pair of less-than-truckload carriers reported weaker volumes in August but said they continue to see favorable yield results.

XPO (NYSE: XPO) saw volumes slide during a “soft” August but reiterated its margin guidance, which is predicated on favorable yield trends.

The carrier reported a 4.6% year-over-year decline in tonnage during August, the combination of a 4.5% decline in shipments and a 0.1% dip in weight per shipment. It previously reported no change for the same volume metrics in July....

https://www.freightwaves.com/news/ltl-carriers-see-softer-volume-trends-in-august

Saia still seeing volume growth full year after Yellow’s collapse

Less-than-truckload carrier Saia is still seeing sizable volume growth even though a full year has passed since Yellow Corp. ceased operations and the comparisons have gotten tougher. While the year-over-year growth rates have cooled, they are still notable by historical measures and given that the industry is still struggling to exit a prolonged freight recession.

In the first two months of the third quarter, Saia’s tonnage per day was up 6.6% year over year as an 8.5% increase in shipments was...

https://www.freightwaves.com/news/saia-still-seeing-volume-growth-full-year-after-yellows-collapse

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