Saia rises on Q1 profit beat

Saia

28/04/2023 13:21

** Shares of transportation firm Saia Inc  SAIA.O  up 7.8%
at $280.2 premarket
    ** Co reports Q1 profit of $2.85/shr, above est $2.69/shr -
Refinitiv
    ** However, co posts 0.1% decline in Q1 rev to $660.5 mln,
missing Wall Street expectations of $667.2 mln
    ** "Solid pricing efforts and 1.8% increase in weight per
shipment in qtr drove a 6.3% increase in revenue per shipment" -
CFO
    ** Co expects net capital expenditures to be in excess of
$400 mln in 2023
    ** Up to last close, stock up ~23.9% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com;))