Saia Posts 1Q Increases in Revenue, Income Despite Severe Weather
Saia Inc. shrugged off extreme weather in the first three months of the year to post records in its May 1 earnings report.
A multiregional LTL and logistics firm in Johns Creek, Ga., Saia reported revenue of $410.6 million, a 4.5% increase from $392.8 million in the first quarter last year. Operating income was $28.6 million, a 3.8% increase from $27.6 million.
Earnings per share were 85 cents compared to 80 cents in the first quarter of 2018, the company reported.
Saia disclosed LTL revenue per shipment rose 6.8% to $230.43.
Rick O’Dell, Saia CEO, said the company’s increase in LTL yield marked the 35th consecutive quarter of year-over-year improvement, reflecting improving service reach and a record low cargo-claims ratio.
Despite the increases in income and revenue, O’Dell said earnings per share could have been better.
“The first quarter is typically the seasonally softest period of the year, and we simply incurred too many weather-related volume and cost impacts to reach our profitability goals in the period,” he said. “Winter weather throughout the quarter caused parts of our network to be interrupted on an almost weekly basis.”
Saia ranks No. 27 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
