Saia Inc. reported an increased profit in the first quarter compared to the previous year, though fell shy of financial market predictions.
The company's net income amounted to $90.695 million, translating to $3.38 per share. In comparison, the first quarter of the previous year saw Saia Inc. make $76.097 million, or $2.85 per share.
Financial analysts had, on average, predicted earnings of $3.44 per share, suggesting the logistics company's results were slightly lower than expectations. These predictions were compiled by global financial market data provider, Thomson Reuters, and generally discount any one-off items.
On a positive note, Saia Inc. experienced a 14.3% climb in revenue for this quarter, reaching $754.775 million compared to last year's $660.535 million.
Here's a quick snapshot of Saia Inc.'s earnings according to Generally Accepted Accounting Principles (GAAP):
- Earnings for Q1: $90.695 million, up from $76.097 million the previous year.
- Earnings per share for Q1: $3.38, up from $2.85 the previous year.
- Revenue for Q1: $754.775 million, up from $660.535 million the previous year.
