Saia’s 4Q Loss Narrows
Saia Inc. said Friday its fourth-quarter loss narrowed to $3.1 million, or 22 cents per share, from a loss of $28 million, or $2.10 a year ago, as tonnage continued to lag.
The year ago figure included an impairment charge of $35.5 million, Saia said in a statement. Revenue fell 12% to $202 million.
Less-than-truckload tonnage at its Saia Motor Freight Line LTL unit fell 4.4%.
For the full year, the company lost $7.9 million, or 59 cents a share, an improvement over the previous year’s loss of $20.7 million, or $1.56. Revenue fell 18% to $849 million.
LTL tonnage per workday for the full year fell 5.6%, while yield decreased 11.8% including the impact of lower fuel surcharge and continued pricing pressure, the company said.
Saia is ranked No. 25 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
