2023-04-28 13:07:06 ET
Shares of Saia (NASDAQ: SAIA) were moving higher Friday after the less-than-truckload (LTL) transportation company posted better than expected bottom-line results for the first quarter.
Though the company missed revenue estimates, its profits topped expectations. As of 1 p.m. ET, the stock was up 15.3%.
In a difficult economic environment, Saia said that revenue was down 0.1% to $660.5 million, which missed analysts' consensus estimate of $667.2 million. Tonnage in the quarter fell 5.5%, but the company boosted its pricing by 5.8% to make up for it. Management said yield -- essentially pricing -- rose by 4.5%, excluding a fuel surcharge.
For further details see:
Why Saia Stock Was Climbing Today