Saia Stock Plunges 32% On Sharp Drop In Q1 Net Income

(RTTNews) - Saia, Inc. (SAIA) shares tumbled 32.03 percent to $240.78, down $113.44 during Friday's trading, after the company reported a significant year-over-year decline in first quarter earnings. Despite an increase in operating revenue to $787.6 million from $754.8 million, net income dropped sharply to $49.8 million from $90.7 million.

The stock opened at $265.67 and traded between $245.90 and $276.00 on the day on the Nasdaq. Volume surged to 2.01 million shares, well above the average of 569,050.

Saia is now trading at the bottom end of its 52-week range of $245.90 to $624.55.