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.
I’m Adriana, a writer and editor at FreightCaviar. I’ve covered everything from freight tech to industry lawsuits and market shifts, helping scale us to almost 14K subscribers. My goal: to make logistics stories digestible, clear, and fun to read.
PAMT breached a debt covenant in Q2 2025, highlighting mounting losses, rising debt from equipment purchases, and continued struggles to meet revenue goals as lenders grant temporary waivers.
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