Q1 2024 Earnings Show Growth for Saia, XPO, and Trimble

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's total Q1 revenue reached $953.3 million, surpassing Wall Street's projections.
• 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.

Sources: FreightWaves | Scooter Sayers/LinkedIn | Barron's/MSN