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Investing.com -- Shares of Saia Inc (NASDAQ:SAIA) tumbled 3.3% following the release of their latest shipment and tonnage data, indicating a decrease in less-than-truckload (LTL) shipments per workday over the first two months of the second quarter. The transportation provider reported a 1.9% drop in April and a 3.2% decline in May compared to the same months in the previous year.
Despite the decline in LTL shipments, the company did note an increase in LTL tonnage per workday by 4.4% in April, although it experienced a slight 0.4% decrease in May. Additionally, the LTL weight per shipment saw an uptick, with a 6.5% rise in April and a 3.0% increase in May compared to the same periods in 2024. The overall quarter-to-date figures showed a 2.6% decrease in LTL shipments per workday and a 2.0% increase in LTL tonnage per workday, with LTL weight per shipment rising by 4.7%.
Investors seem to be reacting to the mixed signals sent by the contrasting shipment and tonnage data, weighing the potential implications for Saia’s performance. The decrease in LTL shipments per workday has raised concerns, overshadowing the increases in tonnage and weight per shipment.
Saia has stated that the information provided is current as of the date of the press release but is subject to change. The company has also clarified that it is not obligated to update or alter the information provided, except as required by law. As the market processes these developments, it remains to be seen how Saia’s stock will perform in the coming days.
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