Saia's Q3 Results Exceed Expectations: Revenue Grows By 6% While Maintaining Profitability
Portfolio Pulse from Akanksha Bakshi
Saia Inc reported Q3 FY23 revenue growth of 6.2% YoY to $775.1 million, beating the consensus of $745.98 million. Diluted EPS remained the same at $3.67. Operating income slightly improved to $128.44 million, while the margin contracted by 102 bps to 16.6%. The company generated $416.27 million cash from operating activities for nine months ended Sept. 30, 2023. LTL shipments per workday increased 12.2%, tonnage per workday increased 6.7%, and revenue per hundredweight increased 8.4%. Total debt was $18.9 million, and SAIA ended the quarter with $249.3 million of cash on hand.
October 27, 2023 | 4:10 pm
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Saia Inc reported better than expected Q3 FY23 results with revenue growth of 6.2% YoY. However, the company's shares are trading down by 6.19%.
Saia Inc reported strong Q3 FY23 results, beating revenue expectations and maintaining profitability. However, despite the positive earnings report, the company's shares are trading down. This could be due to a variety of factors, including market sentiment, broader market trends, or investor expectations.
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