Q1 2024 earnings reports continue to be a roller coaster. From Saia’s steady climb in revenue to XPO’s earnings beating expectations despite a bumpy market to Trimble and its acquisition payoff. Let's take a look at the latest earnings.
XPO:
Net Income increased 294.1% YoY to $67 million, compared to $17 million in Q1 2023.
Revenue also grew by 5.8% to $2.02 billion, up from $1.91 billion in the same quarter of the previous year.
EPS jumped to 81 cents on $2 billion in revenue, surpassing Wall Street expectations.
EBITDA increased to $288 million, up from $210 million YoY.
XPO's LTL segment saw a 50% operating income increase.
Trimble:
Transportation and logistics revenue grew 33% YoY to $195 million, fueled by strong bookings from its Transporeon acquisition.
Trimble expects modest transportation revenue growth in Q2 but is optimistic about the year's overall revenue, with projections of $3.57 billion to $3.67 billion.
Saia:
Revenue surged 14.3% YoY, with bill count (the total number of shipments the company handled) up 15.7% and tonnage up 6.2%.
Average shipment sizes decreased by 8.2%, suggesting a shift toward smaller loads.
Operating Ratio improved to 84.4, showing effective cost management amid rapid growth.
Saia plans to open 15-20 new terminals in 2024, continuing its aggressive expansion and network optimization.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
