The mainly less-than-truckload carrier Saia inc. has reported an increase in its third quarter profit due to significant gains in tonnage and shipments.
by Staff
October 28, 2014
1 min to read
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.
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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.
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