Saia falls after Q1 results miss
26/04/2024 13:28
** Shares of less-than-truckload (LTL) carrier Saia SAIA.O
fall 12.84% to $473.29 premarket
** Co reports Q1 operating income of $117.9 mln, missing
analyst estimates of 121.5 mln
** Revenue increases 14.3% to $754.8 mln, below analysts'
estimates of $770.7 mln - LSEG
** Says it anticipates CapEx in 2024 to be $1 bln
** "We believe this year will mark an unprecedented year of
investment in our company, with a total of 15-20 new terminal
openings planned for the year," - CEO Fritz Holzgrefe
** 12 of 19 brokerages rate the stock "buy" or higher, 6
"hold" and 1 "sell"; their median PT is $613
** YTD, SAIA up 23.91%
(Reporting by Abhinav Parmar in Bengaluru)
((Abhinav.parmar@thomsonreuters.com))