Saia Reports First Quarter Earnings per Share of $0.44

Discussion in 'Saia' started by truckdriver, Apr 28, 2017.

  1. truckdriver

    truckdriver Active Member

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    First Quarter 2017 Compared to First Quarter 2016 Results

    • Revenues were $317.0 million, a 9.4% increase
    • LTL Shipments and Tonnage rose 3.5% and 2.0%, respectively
    • LTL Revenue per hundredweight increased 7.7%
    • Operating ratio deteriorated by 60 basis points to 94.5%
    • Operating income fell by 0.4% to $17.5 million
    • Net income, benefitting from a lower effective tax rate, rose 7.7% to $11.4 million
    • Diluted earnings per share were $0.44 compared to $0.42

    "We are encouraged by the improved LTL shipment trends we experienced in the first quarter", said Saia President and Chief Executive Officer, Rick O'Dell. "Our first quarter was a very busy time for all of us at Saia, as our plan for expansion into Pennsylvania and New Jersey kicked into high gear. We have secured the necessary terminals and completed the necessary hiring to commence operations in four new locations on May 1st. These are the first steps in our multi-year strategy of becoming a 48-state LTL service provider," O'Dell continued.

    "Also during the quarter, we were pleased to announce our exclusive partnership with TST Overland Express, which will allow us to offer our customers a seamless, cross-border solution for their LTL service needs both to and from Canada. The partnership is scheduled to become effective on May 22nd", concluded Mr. O'Dell.

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