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Saia Inc (SAIA) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Record Third Quarter Earnings per Share of $1.07

 

JOHNS CREEK, GA. – October 31, 2018 – Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported third quarter 2018 financial results. Diluted earnings per share were $1.07 for the third quarter compared to $0.55 per diluted share in the third quarter of 2017.

 

Third Quarter 2018 Compared to Third Quarter 2017 Results

 

Record quarterly revenue of $425.6 million, an 19% increase

 

LTL Shipments and Tonnage rose 5.4% and 7.3%, respectively

 

LTL Revenue per hundredweight increased 11.9%

 

Revenue per shipment rose 13.9% to $233.38

 

Operating ratio improved by 220 basis points to 90.9%

 

Operating income rose 57% to a record $38.7 million

 

Net income rose 96% to $28.2 million

 

“Our record third quarter revenue and earnings reflect a continuation of the positive trends that have fueled our growth so far this year.  A solid freight environment has enabled us to manage our freight mix and achieve higher levels of profitability,” said Saia President and Chief Executive Officer, Rick O’Dell.  “We continue our efforts to manage our mix of business by seeking rate increases where necessary and shedding unprofitable freight, which I thought we did very well in the quarter as evidenced by our 11.9% increase in yield.  Contractual renewals were up 10.2% in the quarter, setting the tone for what we expect to be continued positive pricing over the next 12 months,” O’Dell continued.

 

“We intend to open two terminals in December, which will then enable us to offer direct service to customers in Massachusetts.  These two new terminals will bring our total openings count in the Northeast to 10 since our expansion began in May 2017,” concluded Mr. O’Dell.

 

Financial Position and Capital Expenditures

Total debt was $121.3 million at September 30, 2018 and inclusive of the cash on-hand, net debt to total capital was 15.3%.  This compares to total debt of $127.2 million and net debt to total capital of 19.3% at September 30, 2017.

 

Net capital expenditures in the year-to-date period through September were $182.5 million including equipment acquired with capital leases.  This compares to $183.9 million in net capital expenditures through the first nine months of 2017.  The Company currently plans net capital expenditures in 2018 of approximately $265 million.

 

Conference Call

Management will hold a conference call to discuss quarterly results today at 10:00 a.m. Eastern Time. To participate in the call, please dial 877-260-1479 or 334-323-0522 referencing conference ID #1391258.  Callers should dial in five to ten minutes in advance of the conference call.  This call will be webcast live via the Company web site at www.saiacorp.com.  A replay of the call will be offered two hours after the completion of the call through November 28, 2018 at 1:00 p.m. Eastern Time.  The replay will be available by dialing 1-888-203-1112 or 719-457-0820 referencing conference ID #1391258.

 

Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services.  With headquarters in Georgia, Saia LTL Freight operates 158 terminals in 40 states.  For more information on Saia, Inc. visit the Investor Relations section at www.saiacorp.com.

 

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.

 

Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “may,” “plan,” “predict,” “believe,” “should” and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements.


The following information was filed by Saia Inc (SAIA) on Wednesday, October 31, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Saia Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Computation Of Earnings Per Share
Computation Of Earnings Per Share (Tables)
Computation Of Earnings Per Share - Additional Information (Detail)
Computation Of Earnings Per Share - Summary Of Calculation Of Basic Earnings Per Common Share And Diluted Earnings Per Common Share (Detail)
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Additional Information (Detail)
Debt And Financing Arrangements - Schedule Of Principal Maturities Of Long-Term Debt Including Interest On Capital Leases (Detail)
Debt And Financing Arrangements - Summary Of Reconciliation Of Debt (Detail)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Effect Of Adoption Of Standard On Condensed Consolidated Balance Sheet (Detail)
Summary Of Significant Accounting Policies - Effect Of Adoption Of Standard On Condensed Consolidated Statement Of Cash Flows (Detail)
Summary Of Significant Accounting Policies - Effect Of Adoption Of Standard On Condensed Consolidated Statement Of Operations (Detail)
Summary Of Significant Accounting Policies - Summary Of Risk Retention Amounts Per Occurrence (Detail)
Ticker: SAIA
CIK: 1177702
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025837
Submitted to the SEC: Wed Oct 31 2018 12:06:38 PM EST
Accepted by the SEC: Wed Oct 31 2018
Period: Sunday, September 30, 2018
Industry: Trucking No Local

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