Saia Profit Slips 6.5% Despite Revenue Gain
April 28, 2014
Georgia-based less-than-truckload carrier Saia reported a downturn in net income while total revenue increased in the first quarter compared to the same time in 2013.
Net income fell 6.5% to $8.6 million while revenue gained 9.5%, totaling nearly $300 million. Diluted earnings per share were 34 cents compared to 37 cents last year
LTL tonnage increased 5.7% as LTL shipments were up 4.4% with a 1.3% increase in weight per shipment.
"Saia's first quarter results are very gratifying, given the disruptive weather patterns that challenged our entire industry,” said Saia President and CEO Rick O'Dell. “Our ability to handle nearly 6% more tons in this year's first quarter while maintaining solid service metrics is a direct result of the talents and commitment of our entire workforce. Saia's customers continue to appreciate our value-proposition and we were able to improve LTL pricing by 2.3% in the quarter."
There is more information on the Saia website.