The following is a summary of the Saia, Inc. (SAIA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Saia reported a Q1 revenue of $754.8 million, a rise of 14.3% from the same quarter last year.

• Revenue per hundredweight, excluding fuel surcharge, saw a 10.5% hike.

• Revenue per shipment, excluding fuel surcharge, rose by 1.4%.

• The operating ratio for Q1 was 84.4%, improving by 60 basis points from Q1 of the previous year.

• The diluted earnings per share were $3.38, compared to $2.85 from Q1 of the previous year.

Business Progress:

• The company opened seven new locations in the past 12 months, expanding operational capacity.

• Plans are underway to open 15 to 20 new terminals this year, which includes relocating some existing terminals.

• Successfully executed a cross-border agreement with Mexican LTL carrier Fletes to expand service.

• Saia plans to invest $1 billion in capital expenditures in 2024 to expand their network and enhance customer service.

• New terminals are projected to contribute to revenue growth after establishing stable operations.

• Saia is increasing its geographic reach and plans to expand into key locations such as Trenton, Laredo, and the Great Plains.

• They aim to enhance retention and engagement among frontline employees, which will improve service levels and reduce turnover rates.

• The company plans to achieve organic growth and continue its expansion into markets that best serve their customers.

• Saia aims to establish a national footprint to compete with other market players and ensure top-tier service.

More details: Saia IR

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