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Saia Seizes Market Opportunity, Reports Strong Q4 Performance

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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.

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