Shares of Saia Inc (SAIA) rallied 8.25% in pre-market trading on Monday, following the trucking company's better-than-expected fourth quarter 2024 earnings results and continued network growth.
For Q4, Saia reported earnings per share of $2.84, surpassing the consensus estimate of $2.80. Revenues rose 5% year-over-year to $789 million, beating analysts' expectations of $786.5 million.
While operating income declined 9.9% to $101.5 million due to cost pressures, the company saw solid growth in its core LTL business. LTL tonnage increased 8.3% and shipments rose 4.5% compared to the prior year quarter. However, pricing remained under pressure as revenue per hundredweight excluding fuel surcharges dipped 2.3%.
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