Saia (NASDAQ:SAIA), a leading transportation provider, today announced financial results for the first quarter ended March 31, 2025, reporting a substantial decrease in diluted earnings per share compared to the same period in the previous year, despite an increase in revenue.
For the first quarter of 2025, diluted earnings per share were reported at $1.86, a significant drop from $3.38 recorded in the first quarter of 2024.
The company's revenue saw an increase, reaching $787.6 million for the quarter, up 4.3% from the first quarter of 2024.
However, operating income decreased by 40.5% to $70.2 million.
This resulted in an operating ratio of 91.1% for the first quarter of 2025, compared to 84.4% in the prior-year quarter.
While LTL shipments per workday increased by 4.6%, LTL tonnage per workday saw a notable rise of 12.7%.
Additionally, LTL revenue per hundredweight, excluding fuel surcharge revenue, decreased by 5.1%.
Meanwhile, LTL revenue per shipment, excluding fuel surcharge revenue, increased by 2.3%.