Saia

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

Saia to reopen 6 former Yellow terminals in August

Less-than-truckload carrier Saia said Monday it will open six terminals in August, part of a broader plan to open 18 to 21 new facilities across the country this year. The Western portion of its expansion includes an entrance into Wyoming as well as new facilities in Montana and South Dakota.

Saia (NASDAQ: SAIA) opened a new terminal in Cheyenne, Wyoming, on Monday and plans to add sites in Casper, Wyoming, and Billings, Montana, on Aug. 19. Two additions in South Dakota (Rapid City and...

https://www.freightwaves.com/news/saia-to-reopen-6-former-yellow-terminals-in-august

Freight mix, terminal openings weigh on Saia’s Q2; stock drops 20%

Growing pains from building out a national network hampered Saia’s second-quarter results, sending shares of the less-than-truckload carrier more than 20% lower briefly on Friday. Incremental operating costs from the company’s terminal additions and a mix shift to lower-weight, retail freight were a drag on margins during the period.

Saia (NASDAQ: SAIA) reported second-quarter earnings per share of $3.83, which was 4% below the consensus estimate ($4) but 12% higher than the year-ago quarter...

https://www.freightwaves.com/news/freight-mix-terminal-openings-weigh-on-saias-q2-stock-drops-20

Saia Q2 first look

Less-than-truckload carrier Saia reported second-quarter earnings per share of $3.83, which was 4% below the consensus estimate of $4 but 12% higher year over year.

Revenue increased 19% y/y to $823 million as tonnage improved 10% and revenue per hundredweight, or yield, increased 8% (9% higher excluding fuel surcharges). The carrier reported an 83.3% operating ratio, which was 60 basis points worse y/y but 110 bps better than the first quarter.

Lighter-weight shipments and higher costs...

https://www.freightwaves.com/news/saia-q2-first-look

Saia opens 2 new terminals, eyes 18 to 21 sites in ’24

Less-than-truckload carrier Saia has announced the opening of two new service centers. The company said the additions are part of a plan to add 18 to 21 terminals this year. Saia previously expected to add just 16 locations in 2024.

Located in Stockton, California, and Davenport, Iowa, the new facilities are part of a strategic initiative “to enhance service capabilities and support our expanding customer base,” a Monday news release said.

The company unveiled a $1 billion capital expenditures...

https://www.freightwaves.com/news/saia-opens-2-new-terminals-eyes-18-to-21-sites-in-24

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