Freight transportation and logistics provider Saia (NASDAQ:SAIA) will be announcing earnings results this Friday morning. Here’s what to look for.
Saia missed analysts’ revenue expectations by 3.1% last quarter, reporting revenues of $787.6 million, up 4.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Saia a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Saia’s revenue to decline 1.7% year on year to $809.5 million, a reversal from the 18.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.40 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 9 upward revisions over the last 30 days (we track 15 analysts). Saia has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Saia’s peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Covenant Logistics delivered year-on-year revenue growth of 5.3%, beating analysts’ expectations by 3.7%, and Knight-Swift Transportation reported flat revenue, in line with consensus estimates.
Read our full analysis of Covenant Logistics’s results here and Knight-Swift Transportation’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 7.7% on average over the last month. Saia is up 11.6% during the same time and is heading into earnings with an average analyst price target of $298.15 (compared to the current share price of $307.03).
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