Saia

First look: Saia Q4 earnings

Less-than-truckload carrier Saia beat fourth-quarter expectations Monday before the market opened. Earnings per share of $2.84 was 7 cents higher than the consensus estimate but 49 cents lower year over year.

Saia (NASDAQ: SAIA) reported a 5% y/y increase in revenue to $789 million. Revenue per workday was 3.3% higher in the quarter as tonnage per day increased 8.3% and revenue per hundredweight, or yield, fell 5.4% (down 2.3% excluding fuel surcharges). However, a 3.7% increase in weight per...

https://www.freightwaves.com/news/first-look-saia-q4-earnings

Saia starts its engines: LTL carrier will sponsor a leading NASCAR team

There will be a big Saia logo traveling at a high rate of speed before thousands soon, but it won’t be delivering any freight.

The less-than-truckload carrier has signed on to be the primary sponsor of seven NASCAR Cup races this season. The deal with Joe Gibbs Racing will place the Saia (NASDAQ: SAIA) logo as the most prominent signage on the car driven by Gibbs’ grandson, Ty Gibbs. Joe Gibbs is the legendary football coach who led the then-Washington Redskins (now Commanders) to three Super...

https://www.freightwaves.com/news/saia-starts-its-engines-ltl-carrier-will-sponsor-a-leading-nascar-team

A stand-alone FedEx Freight gives LTL investors another pure play

Investors are getting more optionality when it comes to playing the less-than-truckload market. FedEx Corp. said Thursday it will move forward with a plan to spin off FedEx Freight, the nation’s largest LTL carrier, which experts say could be worth as much as $30 billion.

Details surrounding the transaction were sparse, but FedEx (NYSE: FDX) said separating into two publicly listed companies – a domestic and international package and freight business generating $78 billion in annual revenue, and...

https://www.freightwaves.com/news/a-stand-alone-fedex-freight-gives-ltl-investors-another-pure-play

XPO, Old Dominion waiting for market turn

Less-than-truckload carriers are still seeing negative tonnage results at what is likely the bottom of the cycle. XPO and Old Dominion Freight Line are the latest to provide November results after updates from a pair of carriers sent shares for the group lower on Tuesday.

XPO eyeing Q4 margin improvement

XPO (NYSE: XPO) reported a 4% y/y decline in tonnage per day during November, which followed an 8% decline in October. October was up against a tough comp due to a cyberattack at Estes last year...

https://www.freightwaves.com/news/xpo-old-dominion-waiting-for-market-turn

LTL stocks sag on Q4 updates

Shares of less-than-truckload carriers were lower Tuesday after two companies provided fourth-quarter updates. The updates likely reflect the bottom of the cycle, the point where carriers are in need of more volume, or an improved freight mix, moving through their high fixed-cost networks.

ArcBest (NASDAQ: ARCB) was down 1.6% at 11:19 a.m. EST while shares of Saia (NASDAQ: SAIA) were down 2.7%. The S&P 500 was down just 0.1% at the time.

ArcBest’s network needs more freight

ArcBest’s asset-based...

https://www.freightwaves.com/news/ltl-stocks-sag-on-q4-updates

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

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