The mainly less-than-truckload carrier Saia Inc. has reported an increase in its third quarter earnings due to significant gains in tonnage and shipments.
The Georgia-based operation saw net profit increase to $16.3 million from $12.9 million a year earlier, a more than 26% increase, or to 64 cents per diluted share from 51 cents per diluted share during the same time period.
Revenue increased 13.5% to $332.5 million as LTL tonnage increased 8.2%. LTL shipments were up 7.6% with a 0.5% increase in weight per shipment.
"Strong tonnage growth and improved pricing provided a solid foundation for third quarter results. Customers have responded favorably to our consistent and reliable service offering which was the catalyst for our 4.3% improvement in LTL yield for the quarter," said Saia President and Chief Executive Officer, Rick O'Dell. "While I am pleased to report the year-over-year improvement in our operating ratio, I still believe there is upside that will allow for improved performance as we optimize our network to handle the increased volumes in a capacity-constrained environment."
In the third quarter, Saia put in service nearly half of the 800 additional linehaul trailers that will be put in service by year end.
More information is on the Saia website.