Saia Profit Up Despite Lower Revenues
The mainly less-than-truckload carrier Saia Inc. saw its first quarter profit move higher, according to its earnings report released Wednesday.
File photo by Evan Lockridge
File photo by Evan Lockridge
The mainly less-than-truckload carrier Saia Inc. saw its first quarter profit move higher, according to its earnings report released Wednesday.
Net income totaled $12.6 million, or 49 cents per diluted share, compared to $8.6 million, or 34 cents per diluted share a year earlier for the Georgia-based operation.
Revenues totaled $293 million, a 2.2% decrease from a year earlier when it was $306.3 million.
LTL tonnage decreased 6.6% as LTL shipments were down 2.8%. LTL revenue per hundredweight increased by 4.6% even with materially lower fuel surcharges, according to the company.
"Despite a first quarter that was more sluggish than typical, I am pleased to report that our focus on pricing, safety, network optimization and service enabled us to post significantly improved financial results,” said Saia President and CEO Rick O'Dell. “Difficult year-over-year shipment and tonnage comparisons were further challenged by winter weather, softness in the oil patch and our continued optimization of pricing programs.”
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