In a recent quarterly earnings report, transportation provider Saia posted a record second quarter earnings per share of $1.15, up from 68 cents a year ago.
As a whole, the company reported a quarterly revenue of $429 million, increasing 17.7% from Q2 2017, while net income rose 72% to 30.3 million for the quarter.
Financial analysts at Stifel commented that the company’s earnings per share beat the consensus estimate of $1.11, but said that the result fell just shy of its own $1.17 per share projection.
“Saia is still one of the better longer-term growth stories in our space, benefiting from geographic expansion, improved pricing, industry consolidation, and increasing network density,” Stifel summarized in its report on Saia’s earnings.
Company president and chief executive officer Rick O’Dell attributed its successful quarter to Saia’s work on mix management and yield improvement initiatives as well as to a robust freight environment. The company also reported increases in less-than-truckload shipments and tonnage for the quarter.
“We have opened three new terminals in 2018 and have plans to open three more by year end. Our high service levels and expanded geographic reach position us well for continued share gains in the LTL marketplace,” said O’Dell.