Why Saia Stock Plunged Today [Yahoo! Finance]
Saia, Inc. (SAIA)
Last saia, inc. earnings: 4/29 07:30 am
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Source: Yahoo! Finance
The stock finished the day down 21% on the news. Saia hits a roadblock The LTL provider missed estimates on both the top and bottom lines, though it still posted growth in the quarter. Revenue was up 14.3% to $754.8 million, which missed the consensus of $770.8 million. Revenue growth was driven by a 15.7% increase in LTL shipments per workday and a 6.2% increase in tonnage. Pricing was also up as revenue per hundredweight, excluding fuel, rose 10.5%, and revenue per shipment rose 1.4%. On the profit side, operating ratio, the inverse of operating margin , improved from 85% to 84.4%, and earnings per share rose 19% to $3.38, but that was worse than expectations of $3.44. Management said that winter weather impacted operations and that March trends improved from February, though volume was still below its expectations at the end of the quarter. The company also announced CFO Douglas Col's retirement. Can Saia bounce back? The sell-off in the stock seems a bit excessi
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SAIA
News
- Saia, Inc. (NASDAQ:SAIA) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Saia, Inc. (NASDAQ: SAIA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Saia, Inc. (NASDAQ: SAIA) had its price target lowered by analysts at UBS Group AG from $618.00 to $541.00. They now have a "buy" rating on the stock.MarketBeat
- Saia, Inc. (NASDAQ: SAIA) had its price target lowered by analysts at JPMorgan Chase & Co. from $676.00 to $580.00. They now have an "overweight" rating on the stock.MarketBeat
- Saia, Inc. (NASDAQ: SAIA) had its price target lowered by analysts at Bank of America Co. from $645.00 to $484.00. They now have a "buy" rating on the stock.MarketBeat
SAIA
Earnings
- 4/26/24 - Miss
SAIA
Sec Filings
- 5/6/24 - Form 4
- 5/6/24 - Form 4
- 5/3/24 - Form 4
- SAIA's page on the SEC website