Saia's Q4 Earnings: A Mixed Bag of Results

Saia Inc. (SAIA) released its Q4 earnings on Monday, February 3, 2025, and the results were a mixed bag. The company beat analyst estimates for earnings per share (EPS) by 3.0%, reporting an EPS of $2.84 versus an estimate of $2.77. However, revenue was up $37.82 million from the same period last year, marking a 5.0% increase year-over-year. Despite the revenue growth, operating income decreased by 9.9% to $101.5 million in Q4 2024 compared to the previous year, and the operating ratio worsened to 87.1% from 85.0% in Q4 2023.

The company's revenue growth was driven by a 5% increase in revenue to $789 million, with revenue per workday up 3.3% due to a 10.1% increase in sales volumes. However, the increase in the operating ratio suggests that Saia may have faced higher operating expenses, which could be attributed to factors such as increased fuel costs, labor expenses, or other operational costs.



Saia's strategic investments in new terminals and capacity expansion contributed to its revenue growth but also increased capital expenditures and debt levels. The company ended the year with $19.5 million in cash and $200.3 million in total debt, compared to $296.2 million in cash and $16.5 million in debt at the end of 2023.

In conclusion, Saia's Q4 earnings performance showed a mixed picture, with revenue growth and strategic investments driving top-line performance but higher operating expenses and a decline in operating income and EPS. The company's earnings beat analyst expectations, but the decline in EPS compared to the previous year indicates that there is still room for improvement in operational efficiency. As Saia continues to expand its footprint and enhance service offerings, its ability to manage costs and improve operational efficiency will be critical to sustaining growth in the competitive transportation industry.