Saia, a Georgia-based multi-regional LTL carrier reported earnings of $5.5 million, or 34 cents per share, in the first quarter, compared to $713,000, or 4 cents per share for the previous year's quarter. The company's revenue rose 11% to $268.7 million, and operating income increased to $11 million from $4.1 million in the prior-year period
Analysts polled by FactSet had expected a profit of 19 cents per share on revenue of $272.8 million.
LTL tonnage increased by 2.6% as LTL shipments per workday were down slightly with a 3.3% increase in LTL weight per shipment. LTL yield was up 7.9% due to the impact of favorable pricing actions and higher fuel surcharges
ABF Freight, the LTL arm and largest operating unit of Arkansas Best Corp, Fort Smirth, Ark., reported a $22 million operating loss for the first quarter.
The LTL carrier's daily tonnage dropped 10.6% year-over-year, and its revenue per hundredweight, or yield, a measure of pricing, rose 11.5% from last year's first quarter.
The drop in daily tonnage after price hikes in 2011 contributed to an $18.2 million net loss in the first quarter for its parent company.