Saia Reports Positive Results for October, November to SEC
Saia Inc. reported positive results for its less-than-truckload business in October and November, according to a filing to U.S. Securities and Exchange Commission on Dec. 1.
In October, shipments per workday increased 1.9% and tonnage per workday increased 0.1% compared with the same month last year. In November, LTL shipments per workday increased 1.3% and tonnage per workday increased 1.5% compared with November 2015.
The company isn’t required to report specific numbers until after the end of the fourth quarter at the end of the year.
Last quarter, tonnage dropped 2.9% to 913,000, shipments fell 1.2% to 1.6 million and pounds per shipment fell 1.7% to 1,114 on a year-over-year basis. However, revenue per shipment went up 1.9% to $179.17.
However, Saia posted a profit of $13.8 million in the third quarter, a 17% increase year-over-year.
“We would expect December to see a continuation of this trend or even be a little better,” writes David Ross, industry analyst at Stifel, Nicolaus & Company. “Furthermore, as Saia has the most exposure to the domestic energy market, the recently announced cut to OPEC production is likely good for U.S. shale players, which could be disproportionately good for the company (vs. other LTLs), just like it was disproportionately bad for Saia in 2015.”
Saia ranks No. 25 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
