Saia Sees 22.4% Jump in 2Q Net Income
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Saia Inc. reported net income of $37.1 million for the second quarter ended June 30, up 22.4% from $30.3 million in the same period of 2018.
Earnings per share in the quarter were $1.40, compared with $1.15 in the second quarter of 2018.
Revenue was $464.2 million, an 8.3% increase from 2018’s second quarter total of $428.7 million.
Saia, a less-than-truckload carrier, said the Johns Creek, Ga., company has had 36 consecutive quarters of year-over-year improvement.
“Our expansion into the Northeast continued in the second quarter with two additional terminal openings, bringing the year-to-date new opening count to three,” CEO Rick O’Dell said in a July 31 news release. “Since our Northeast expansion began in May 2017, we have opened 13 new terminals in the region. We continue to see growth with existing customers as we extend our reach and offer direct service to more locations, and we expect to open six additional terminals over the remainder of the year.”
Saia reported LTL shipments per workday increased 3.6%; LTL tonnage per workday decreased 1.9%; and LTL revenue per shipment rose 4% to $234.33.
Saia ranks No. 25 on the Transport Topics Top 100 list of the largest for-hire carriers in North America, and No. 9 for LTL carriers.