News

Saia Seizes Market Opportunity, Reports Strong Q4 Performance

1 Mins read

Saia, a trucking company based in Johns Creek, Georgia, has announced higher sales and earnings for the fourth quarter, taking advantage of an industry downturn to expand its market share. The company reported a profit of $89.2 million, or $3.33 per share, compared to $70.9 million, or $2.65 per share, in the same quarter a year ago. This exceeded analysts’ expectations of $3.20 per share. Operating revenue also saw a substantial increase of nearly 15% to reach $751.1 million, surpassing the projected $745.5 million.

“Our market share gains have been significant since last summer’s industry disruption,” said Chief Executive Fritz Holzgrefe, noting the company’s success in onboarding close to 1,500 new associates since the second quarter of last year.

Notably, Saia experienced an 18% jump in less-than-truckload shipments per workday and an 8.2% increase in less-than-truckload tonnage per workday. In addition, less-than-truckload revenue per shipment (excluding fuel surcharge) climbed by 2.4%.

Looking ahead, Saia’s growth trajectory is set to continue with their recent agreement to acquire 17 terminals from Yellow, their bankrupt rival, for $236 million. This strategic move will allow Saia to expand its direct coverage into new markets and enhance its presence in existing ones. The company also has plans to open 15 to 20 new terminals within the current year.

Related posts
News

RICH Miner leads the Ripple cloud mining revolution - converting XRP into daily stable income

3 Mins read
WinnerMining free cloud mining APP helps zero-investment users earn BTC and XRP! Turn your phone into a mining machine There is no…
News

GCCI hosts strategic meeting with APMIA Chairman - Daily Times

1 Mins read
The Gujranwala Chamber of Commerce and Industry (GCCI) recently hosted a strategic meeting with Muhammad Bilal Khan, Chairman of the All Pakistan…
News

Bitcoin surge triggers investment boom in Europe and America, investors flock to Mint Miner

3 Mins read
MintMiner MintMinerBest Forex Trading Robots For 2022 Get the latest news delivered to your inbox Sign up for The Manila Times newsletters…

Leave a Reply

Your email address will not be published. Required fields are marked *