Saia opened a document 21 terminals in 2024 and now has 214 amenities and a nationwide footprint. (Saia LTL Freight by way of Fb)
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Saia Inc. closed out 2024 with decrease fourth-quarter earnings amid efforts to reinvest within the operations of the enterprise, however it set a income document for the complete yr, the corporate reported Feb. 3.
The Johns Creek, Ga.-based less-than-truckload provider posted internet earnings of $76.1 million, or $2.84 a diluted share, for the three months ending Dec. 31. That in contrast with $89.2 million, $3.33, throughout the identical time the earlier yr. Whole This autumn income elevated by 5% to $789 million from $751.1 million.
“We opened 21 terminals in 2024, which is, by far, a document, and we relocated a further 9 terminals,” Saia CEO Fritz Holzgrefe mentioned throughout a name with buyers. “We ended the yr with 214 terminals and now have a nationwide footprint, enabling us to supply direct service to our clients within the 48 contiguous states.”
For the complete yr, Saia reported internet earnings of $362.1 million, $13.51, on document income of $3.21 billion, in contrast with internet earnings of $354.9 million, $13.26, on income of $2.88 billion in 2023.
“The document stage of actual property investments we made in 2024 formally positioned Saia as a number one nationwide provider, permitting us to supply higher service to our current clients and develop with new clients,” Holzgrefe mentioned. “Along with investments in actual property, 2024 can be a document yr for tools as we had serviced over 6,000 trailers. This funding in our fleet permits us to higher service our clients and supply distinctive options for his or her wants.”
Saia additionally onboarded about 1,300 new workforce members throughout 2024, and the corporate now has greater than 15,000 workers. Saia’s investments into actual property, tools, know-how and its workforce all year long amounted to over $1 billion in capital expenditures.
“A document stage of funding in 2024 represents our dedication to placing the client first and making certain that we’re instilling our nice Saia tradition in every of our new places,” Holzgrefe mentioned. “Whereas underlying macrotrends stay unsure, our year-over-year outcomes proceed to replicate the expansion expertise since mid-2023.”
Saia highlighted in its report that LTL shipments per workday elevated 4.5%, whereas LTL income per cargo elevated 1.3%. The report additionally famous that LTL tonnage per workday elevated 8.3%, and LTL income per hundredweight decreased 2.3%.
“I’m happy [with] the execution of our development technique and our capacity to reveal our customer-first method throughout this document yr of growth,” Holzgrefe mentioned. “Whereas the terminals are a drag on margins within the close to time period, these investments and capability are crucial to creating long-term worth for each our clients and shareholders.”
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Holzgrefe careworn that having a comparable footprint to different related carriers is crucial to attracting clients and added that firm management is consistently analyzing the affect of latest openings from a margin and customer-acceptance standpoint.
“2024 is a landmark yr for the corporate on many ranges,” Holzgrefe mentioned. “We’re in a position to implement a good portion of our long-term funding technique in a relatively brief time frame. The subsequent stage in growth of our technique can be targeted fully on supporting our clients’ success.”
Saia ranks No. 18 on the Transport Matters Prime 100 checklist of the biggest for-hire carriers in North America and No. 6 on the LTL sector checklist.
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