Saia Third Quarter Profit Jumps 34%
October 30, 2013
Photo: Evan Lockridge
Multi-regional, less-than-truckload carrier Saia has reported third-quarter revenue of $293 million, an increase of 5.4% from the same time in 2012.
This resulted in net income of $12.9 million, compared to nearly $9.3 million, while operating income increased 34% to $21.9 million.
Operating ratio during the third quarter was 92.5 compared to 94.1 a year earlier
LTL tonnage per workday decreased 0.1% as LTL shipments per workday were up 0.6%, with a 0.7% drop in weight per shipment.
"The infusion of new equipment into our network and our planned industrial engineering initiatives are continuing to result in cost reductions, particularly in linehaul miles driven and fuel efficiency,” said Saia President and Chief Executive Officer Rick O'Dell. “The quarter did include increased wage, health care and depreciation expense due to investments in employees, equipment and technology to support customer satisfaction”
He said Saia provided 98% on-time service for the eighth consecutive quarter.
When the first nine months of 2013 are compared to the same time in 2012, the Georgia-based carrier says revenue was $859 million compared to $834 million.
Net income was $35.6 million compared to $26.6 million while operating income was $59.7 million compared to $48.7 million
More information is available on the Saia website.