Saia’s 2Q Profits Tumble on Fuel, Pricing Pressures
Saia Inc. on Friday reported that it earned $5.4 million, or 40 cents a share, in the second quarter, down from $10.4 million, or 72 cents, a year ago.
Revenue rose to $525 million from $485 million, said Saia, the parent company of less-than-truckload carrier Saia Motor Freight Line.
“Second quarter margins declined compared to the prior-year quarter primarily due to the weak shipping environment with expenses further impacted by escalating fuel cost and pricing pressure,” said Rick O’Dell, Saia’s chief executive officer.
LTL tonnage declined 1.9% from the previous second quarter, while total shipments fell 2.6%.
LTL revenue-per-hundredweight, or yield, improved 10.8% to $13.28 Saia said.
The carrier’s operating ratio, which represents operating expenses as a percentage of revenue, deteriorated to 96.1 from 94.2 in the previous second quarter.
Saia is ranked No. 25 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
Revenue rose to $525 million from $485 million, said Saia, the parent company of less-than-truckload carrier Saia Motor Freight Line.
“Second quarter margins declined compared to the prior-year quarter primarily due to the weak shipping environment with expenses further impacted by escalating fuel cost and pricing pressure,” said Rick O’Dell, Saia’s chief executive officer.LTL tonnage declined 1.9% from the previous second quarter, while total shipments fell 2.6%.
LTL revenue-per-hundredweight, or yield, improved 10.8% to $13.28 Saia said.
The carrier’s operating ratio, which represents operating expenses as a percentage of revenue, deteriorated to 96.1 from 94.2 in the previous second quarter.
Saia is ranked No. 25 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
