Saia’s 3Q Income Declines
Saia Inc. said Friday its third-quarter earnings fell by half, to $2.8 million, or 20 cents a share, from $5.9 million or 43 cents a year ago.
Revenue rose 11% to $264 million, the company said in a statement. Saia is the parent company of less-than-truckload carrier Saia Motor Freight Line.
The quarter’s performance “was negatively impacted by a weak economy, the competitive pricing environment and disruptions from two hurricanes in cities where Saia has significant market share,” Chief Executive Officer Rick O’Dell said.
LTL tonnage fell 1.1% on a per-day basis, with shipments down 2.3% and a 1.2% rise in weight per shipment, Saia said.
Saia is ranked No. 25 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
