JOHNS CREEK, Ga. - Saia , Inc. (NASDAQ:SAIA), a prominent player in the transportation sector, has announced the promotion of Matthew Batteh to Executive Vice President and Chief Financial Officer, effective today. Batteh, who has been with the company since 2015, will also take on the role of Secretary.
In his new capacity, Batteh will oversee the finance, pricing, accounting, and treasury departments of Saia, contributing to the execution of the company's long-term strategic initiatives.
President and CEO Frederick Holzgrefe highlighted Batteh's deep understanding of Saia's operations and his pivotal role in developing key financial analysis processes within the company.
Batteh's experience includes a tenure as Vice President of Finance since 2023 and, before that, as Vice President, Pricing and Analytics from 2020 to 2023. His background also encompasses a variety of positions in pricing and financial analysis.
His career began at another major transportation and logistics provider, where he managed planning, pricing, and operations. Batteh's academic credentials include a BS in Finance from Auburn University and an MBA from Emory University.
Douglas Col, who has served as Saia's CFO since January 2020, will continue with the company to facilitate a smooth transition.
Saia Inc. operates Saia LTL Freight, which runs 198 terminals across 46 states and employs approximately 14,000 individuals. The company offers a diverse array of less-than-truckload, non-asset truckload, expedited, and logistics services.
This leadership transition is expected to support Saia's growth trajectory and operational efficiency.
The information provided is based on a press release statement.
InvestingPro Insights
As Matthew Batteh steps into his new role as Executive Vice President and Chief Financial Officer at Saia, Inc., the company's financial health and market performance remain a key consideration for investors and stakeholders alike. Saia's current market capitalization stands at $10.69 billion, reflecting the company's substantial presence in the transportation sector. However, the company's stock has faced challenges recently, with a significant 30.24% drop over the last month and a 28.35% drop over the last three months, indicating potential volatility that Batteh will need to navigate.
InvestingPro data indicates a Price/Earnings (P/E) ratio of 29.43, which is high relative to near-term earnings growth, suggesting that the stock may be trading at a premium. This aligns with one of the InvestingPro Tips that highlights the stock's high P/E ratio in the context of its earnings growth. Furthermore, the stock is trading at a Price/Book multiple of 5.27, which is another factor for investors to consider as it suggests a valuation that is higher than the company's book value per share.
Despite the recent price drops, Saia has shown a strong return on assets of 14.75% over the last twelve months as of Q1 2024, which could be indicative of effective asset utilization and operational efficiency. This is an important metric for Batteh to maintain and improve upon in his new role. Additionally, the company has been profitable over the last year, with analysts predicting profitability to continue this year.
For those interested in a more in-depth analysis, there are 12 additional InvestingPro Tips available that provide further insights into Saia's financials and stock performance. To access these tips and gain a comprehensive understanding of Saia's investment potential, visit InvestingPro. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.