In This Article:
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Revenue: $787.6 million, a 4.3% increase from the first quarter of 2024.
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Operating Ratio: 91.1%, deteriorated by 670 basis points from 84.4% in the first quarter of 2024.
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Diluted Earnings Per Share: $1.86, compared to $3.38 in the first quarter of 2024.
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Tonnage: Increased by 11.0%.
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Shipment Increase: 2.9% increase in shipments.
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Average Weight Per Shipment: Increased by 7.8%.
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Salaries, Wages, and Benefits: Increased by 13.9% due to headcount growth and wage increases.
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Purchase Transportation Expense: Increased by 14%, accounting for 7.6% of total revenue.
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Depreciation Expense: $59 million, a 20.9% increase year-over-year.
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Cost Per Shipment: Increased by 9.4% year-over-year.
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Tax Rate: 24%, compared to 23.7% in the first quarter of 2024.
Release Date: April 25, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Saia Inc (NASDAQ:SAIA) achieved first quarter records in revenue, tonnage, and shipments despite having one less workday compared to the previous year.
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Revenue increased by 4.3% year-over-year to $787.6 million, marking a record for any first quarter in the company's history.
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Contractual renewals averaged 6.1% in the quarter, reflecting strong customer belief in Saia Inc (NASDAQ:SAIA)'s high-quality service.
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The company saw significant growth in newer markets, with facilities opened since 2022 contributing to shipment growth.
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Saia Inc (NASDAQ:SAIA) remains focused on long-term opportunities, enhancing service offerings, and expanding its national network to provide better customer solutions.
Negative Points
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The operating ratio deteriorated to 91.1% from 84.4% a year ago, impacted by weather disruptions and sub-seasonal trends.
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First quarter diluted earnings per share decreased to $1.86 from $3.38 in the same quarter last year.
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Legacy facilities experienced a decline in shipments, contributing to a challenging operating environment.
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The uncertain macroeconomic environment led to cautious customer behavior, impacting shipment volumes.
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Total operating expenses increased by 12.6%, driven by higher salaries, wages, benefits, and depreciation expenses.
Q & A Highlights
Q: Can you provide an overview of the current pricing environment and how Saia is approaching pricing strategies? A: Matthew Batteh, Executive Vice President and CFO, explained that the company remains focused on pricing strategies similar to past approaches. Despite a looser capacity environment, Saia continues to prioritize pricing discipline, acknowledging that customers have more options and may challenge rate increases. The company is committed to maintaining its pricing focus while navigating the current market dynamics.