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Investing.com -- Saia, Inc. reported first quarter 2025 earnings that fell well short of analyst expectations, sending shares tumbling 15.3% in premarket trading on Friday.
The transportation provider posted adjusted earnings per share of $1.86, missing the consensus estimate of $2.77 by $0.91. Revenue came in at $787.6 million, below analyst projections of $810.04 million and up just 4.3% YoY.
Saia (NASDAQ:SAIA)’s operating income plunged 40.5% to $70.2 million, with its operating ratio deteriorating to 91.1% from 84.4% in the year-ago quarter. The company cited an uncertain macroeconomic environment, unusually harsh winter weather in key regions, and higher costs related to network expansion as key factors impacting results.
"Primarily resulting from an uncertain macroeconomic environment, we did not see the typical sequential growth in shipments through the quarter, with March shipments flat to February, causing our first quarter revenues to fall well below our expectations," said Saia President and CEO Fritz Holzgrefe.
Despite headwinds, LTL shipments per workday increased 4.6% and tonnage per workday rose 12.7% YoY. However, LTL revenue per hundredweight excluding fuel surcharges declined 5.1%.
The company ended Q1 with $16.5 million in cash and $295.5 million in total debt. Saia maintained its 2025 net capital expenditure forecast of approximately $650 million, subject to ongoing market evaluation.