Saia (SAIA) Reports Q3: Everything You Need To Know Ahead Of Earnings

StockStory
2024-10-24
Saia (SAIA) Reports Q3: Everything You Need To Know Ahead Of Earnings

Freight transportation and logistics provider Saia (NASDAQ:SAIA) will be reporting earnings tomorrow morning. Here’s what investors should know.

Saia met analysts’ revenue expectations last quarter, reporting revenues of $823.2 million, up 18.5% year on year. It was a slower quarter for the company, with a miss of analysts’ earnings estimates.

Is Saia a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Saia’s revenue to grow 8.4% year on year to $839.9 million, improving from the 6.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.53 per share.

Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 7 upward revisions over the last 30 days (we track 13 analysts). Saia has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Saia’s peers in the ground transportation segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Old Dominion Freight Line’s revenues decreased 3% year on year, missing analysts’ expectations by 1.3%, and Covenant Logistics reported flat revenue, falling short of estimates by 2.8%.

Read our full analysis of Old Dominion Freight Line’s results here and Covenant Logistics’s results here.

Investors in the ground transportation segment have had steady hands going into earnings, with share prices flat over the last month. Saia is down 10.9% during the same time and is heading into earnings with an average analyst price target of $470.16 (compared to the current share price of $401.01).

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