Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Covenant, Pacer, Saia, UTI, P.A.M. Report Financials

More carriers have reported second quarter financial results, with both Covenant Transport and Universal Truckload showing a decline in profit, Pacer showing a slighter bigger one, and Saia and P.A.M. showing increases in both profit and revenue.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
Read Evan's Posts
July 26, 2013
4 min to read


More carriers have reported second quarter financial results with both Covenant Transport and Universal Truckload showing a decline in profit, Pacer showing a slighter bigger one, and Saia and P.A.M. showing increases in both profit and revenue.

Covenant Transport

Profit for Tennessee-based truckload carrier Covenant Transport fell in the second quarter of the year despite increased revenue.

Ad Loading...

It posted net income of $1.9 million, compared with net income of $4.3 million in the second quarter of 2012, while total revenue was $172.5 million, an increase of 0.7% compared to the same time.

Freight revenue was $136.9 million, which excludes revenue from fuel surcharges, an increase of 2% compared with the second quarter of 2012.

Operating results were comparable to last year's second quarter, excluding the net $3.5 million gain relating to a refund of insurance premiums in the 2012 quarter, according to the company.

“Our recent re-allocation of assets to our team and refrigerated operations, reducing exposure to solo dry van operations, along with further improving on our drivers' employment experience resulted in improved asset productivity,” said Chairman, President, and CEO David R. Parker. "These factors contributed to a 3.6% increase in average freight revenue per tractor compared with the second quarter of 2012.”

Parked also noted average freight revenue per tractor per week increased to $3,456 during the 2013 quarter from $3,335 during the 2012 quarter. Average freight revenue per total mile increased by 1.5 cents per mile, or 1%, compared to the 2012 quarter and average miles per unit increased by 2.6%.

Ad Loading...

More details are available online.

Pacer Transportation

Asset-light and logistics services provider, Pacer International, says in the second quarter net income increased $0.6 million from the second quarter of 2012 to $1.9 million while total revenues decreased $130.3 million from the second quarter of 2012.

The Ohio-based operation says the decline in revenue was expected, “due to the implementation of the new cross border agreement with Union Pacific and is no longer able to collect and pass through the rail transportation costs to automotive intermediaries servicing the U.S.-Mexico business, as well as due to lower volumes in both the intermodal and logistics segments.

Pacer noted in the first six months of the year income from operations more than doubled from the 2012 period to $5.4 million, primarily due to improved intermodal margins.

More information is on the Pacer website.

Ad Loading...

Saia

Less-than-truckload provider Saia reported second-quarter revenue of  $293 million, an increase of 2% from the same time a year ago while net income increased to 13.5 million from $11.9 million during the same period.

The Georgia-based company noted while its operating ratio was 92.0 compared to 92.6 a year earlier, LTL tonnage decreased by 1.6%, as shipments were down 0.9%, with a 0.7% decrease in weight per shipment.

For the first half of 2013, Saia says revenue was $566 million compared to $556 million a year earlier, while net income was $22.7 million compared to $17.4 million during the same time frame.

More details are on the Saia website.

Universal Truckload

Asset-light truckload carrier and logistics provider Universal Truckload Service reports total revenue in the second quarter of the year was $264.2 million, down just a fraction from $265 million a year earlier while net income declined to $14.2 million from $15.7 million during the same time.

Ad Loading...

The company said demand for its intermodal and value-added services continued to grow in the second quarter of 2013 compared to the second quarter of 2012, however this growth was outpaced by reduced demand for transportation services. In the second quarter of 2013, intermodal services increased 15.5% and value-added services increased 15.0%, while transportation services decreased 6.3% compared to the same period last year.

“We are starting to see some traction in our transportation services in the second quarter of 2013," said Universal's President, Don Cochran. "However, our load count continues to lag behind the levels we saw last year by about 9.5%. 

More information is available online.

P.A.M. Transportation

Dry-van truckload operation, P.A.M. Transportation has reported net income of $2,682,191 for the second quarter of the year, and net income of $2,225,923, for the first six months of 2013.

This compared to net income of $934,791 for the second quarter a year ago and net income of $1,608,984 for the six months ended June 30, 2012 for the Arkansas-based operation.

Ad Loading...

“Revenue, excluding revenue from fuel surcharges, grew by approximately $7.0 million and represented a 9.4% increase from second quarter 2012 revenues,” said Daniel H. Cushman, president. “The factors that contributed to this improvement included fleet growth of 3.1%, improved tractor utilization of 4.7%, a reduction of 1.7% in the empty miles ratio, and a 2.3% increase in our rate per total mile charged to customers.

He noted demand for the company’s services was relatively strong and steady through the second quarter with the exception of a couple of valuable 'project lanes' that transitioned back to intermodal suppliers and away from its trucks.

You can get more details about the company’s results online.  

 

More Fleet Management

Daimler-Class8 partnership.
Fleet Managementby News/Media ReleaseFebruary 2, 2026

DTNA Partners with Class8 to Expand Digital Services for Freightliner Owner-Operators

A new partnership brings free wireless ELD service plus load optimization and dispatch planning tools to fourth- and fifth-generation Freightliner Cascadia customers, with broader model availability planned through 2026.

Read More →
SponsoredFebruary 1, 2026

Reducing Fleet Downtime with Advanced Diagnostics

This white paper examines how advanced commercial vehicle diagnostics can significantly reduce fleet downtime as heavy duty vehicles become more complex. It shows how Autel’s CV diagnostic tools enable in-house troubleshooting, preventive maintenance, and faster repairs, helping fleets cut emissions-related downtime, reduce dealer dependence, and improve overall vehicle uptime and operating costs.

Read More →
SponsoredFebruary 1, 2026

Stop Watching Footage, Start Driving Results

6 intelligent dashcam tactics to improve safety and boost ROI

Read More →
Ad Loading...
M&A illustration with Werner and FirstFleet logos
Fleet Managementby Deborah LockridgeJanuary 29, 2026

Werner Expands Dedicated Fleet Nearly 50% With FirstFleet Acquisition

The $283 million acquisition of FirstFleet makes Werner the fifth-largest dedicated carrier and pushes more than half of its revenue into contract freight.

Read More →
Bobit Business Media B2X Rewards.
Fleet Managementby News/Media ReleaseJanuary 29, 2026

Bobit Business Media Launches B2X Rewards Engagement Program

B2X Rewards is a new, gamified rewards program aimed at driving deeper engagement across BBM’s digital platforms, newsletters, events, and TheFleetSource.com.

Read More →
Trucking Trends series graphic
Fleet Managementby Deborah LockridgeJanuary 29, 2026

AI is Reshaping Trucking in 2026, from the Back Office to the Shop

Trucking’s biggest technology shifts in 2026 have one thing in common: artificial intelligence.

Read More →
Ad Loading...
Column graphic illustration with Deborah Lockridge head shot and a small fleet truck in the background
Fleet Managementby Deborah LockridgeJanuary 27, 2026

Why Small Trucking Fleets Are Still Standing [Commentary]

Why discipline, relationships, and focus have mattered more than size for smaller trucking fleets during the freight recession.

Read More →
Fleet Managementby Deborah LockridgeJanuary 23, 2026

Cargo Theft Is Surging. A Bill in Congress Could Help. [Video]

Cargo theft losses hit $725 million last year. In this HDT Talks Trucking Short Take video, Scott Cornell explains how a bill moving in Congress could bring federal tracking, enforcement, and prosecutions to help address the problem.

Read More →
CargoNet infographic showing 2025 cargo theft trends
Fleet Managementby Deborah LockridgeJanuary 22, 2026

Cargo Theft Losses Jump 60% in 2025 as Criminals Target Higher-Value Freight

Cargo theft activity across North America held relatively steady in 2025 — but the financial damage did not, as ever-more-sophisticated organized criminal groups shifted their cargo theft focus to higher-value shipments.

Read More →
Ad Loading...
Phillips Connect -- McLeod smart trailer TMS.
Fleet ManagementJanuary 22, 2026

Phillips Connect, McLeod Integrate Smart Trailer Data into TMS Workflows

A new partnership between Phillips Connect and McLeod allows fleets to view trailer health, location, and cargo status inside the same McLeod workflows used for planning, dispatch, and execution.

Read More →