Saia's $11.44 Billion Trading Volume Lands 54th Despite 30.66% Stock Drop

On April 25, 2025, Saia's trading volume reached $11.44 billion, marking a 483.17% increase from the previous day and ranking 54th in the day's stock market activity. Saia's stock price fell by 30.66%.

Saia reported its first-quarter 2025 financial results, revealing diluted earnings per share of $1.86, a decrease from $3.38 in the same quarter of 2024. The company's revenue for the quarter was $787.6 million, missing analyst estimates of $813 million. This represents a 4.3% year-on-year growth but a 3.1% miss compared to expectations. The company's tonnage per day increased by 12.8%, while revenue per hundredweight, or yield, fell by 5.8%.

Saia's President and CEO, Fritz Holzgrefe, attributed the lower-than-expected revenues to an uncertain macroeconomic environment, which led to a lack of typical sequential growth in shipments through the quarter. March shipments were flat compared to February, causing first-quarter revenues to fall well below expectations. The company's operating ratio was 91.1%, 670 basis points worse year-over-year and notably worse than management's guidance, which implied an operating ratio near 87.5%.

Costs from new terminals and abnormally poor weather in January were some of the factors contributing to the higher operating ratio. Cost per shipment was up 9.4% year-over-year while revenue per shipment increased just 1.5%, resulting in a nearly 800-basis-point negative spread. Salaries, wages, and benefits expenses as a percentage of revenue were 410 basis points higher year-over-year, and depreciation expense was up 100 basis points year-over-year. Additionally, a $4.5 million swing from net interest income a year ago to net interest expense was a 13-cent drag on EPS in the quarter. Net debt was up $207 million year-over-year to fund the terminal acquisitions.