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Saia Inc (SAIA) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Record Second Quarter Earnings per Share of $1.40

 

JOHNS CREEK, GA. – July 31, 2019 – Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported second quarter 2019 financial results.  Diluted earnings per share in the quarter were $1.40 compared to $1.15 in the second quarter of 2018.

 

Second Quarter 2019 Compared to Second Quarter 2018 Results

 

 

Revenues were $464.2 million, an 8.3% increase

 

Operating income was $51.2 million, a 23.1% increase

 

Operating ratio improved to 89.0 from 90.3

 

LTL shipments per workday increased 3.6%

 

LTL tonnage per workday decreased 1.9%

 

LTL revenue per hundredweight increased 9.8%

 

LTL revenue per shipment rose 4.0% to $234.33

 

“Our second quarter operating ratio of 89.0 is a record for any quarter for Saia as a public company and highlights the long-term opportunity for Saia.  The solid quarter included low-single digit shipment growth, continued strong pricing and strong operational execution”, said Saia Chief Executive Officer, Rick O’Dell.  “The pricing backdrop in our industry continues to be constructive for carriers who can offer consistent high-quality service.  Our LTL yield increased by 9.8% in the quarter, marking our 36th consecutive quarter of year-over-year improvement”, continued O’Dell.

 

“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.  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”, O’Dell concluded.

 

Financial Position and Capital Expenditures

 

Total debt was $179.9 million at June 30, 2019 and inclusive of the cash on-hand, net debt to total capital was 19.1%.  This compares to total debt of $155.0 million and net debt to total capital of 19.4% at June 30, 2018.

 

Net capital expenditures in the first half of 2019 were $171.1 million including equipment acquired with capital leases.  This compares to $140.6 million in net capital expenditures in the first half of 2018.  In 2019, we anticipate net capital expenditures of $275-$300 million.

 

 

 


The following information was filed by Saia Inc (SAIA) on Wednesday, July 31, 2019 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)
Consolidated Statements Of Stockholders' Equity (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 Finance 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)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Summary Of Future Minimum Lease Payments For Non-Cancellable Operating Lease (Detail)
Leases - Summary Of Lease Cost And Other Information (Detail)
Leases - Summary Of Maturity Of Lease Liabilities (Detail)
Leases - Summary Of Supplemental Cash Flow And Balance Sheet Information Related To Leases (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Additional Information1 (Detail)
Ticker: SAIA
CIK: 1177702
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-19-027501
Submitted to the SEC: Wed Jul 31 2019 12:21:30 PM EST
Accepted by the SEC: Wed Jul 31 2019
Period: Sunday, June 30, 2019
Industry: Trucking No Local

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