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

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Record Third Quarter Earnings per Share of $1.25

 

JOHNS CREEK, GA. – October 30, 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 third quarter 2019 financial results.  Diluted earnings per share in the quarter were $1.25 compared to $1.07 in the third quarter of 2018.

 

Third Quarter 2019 Compared to Third Quarter 2018 Results

 

 

Revenue was $468.9 million, a 10.2% increase

 

Operating income was $45.4 million, a 17.2% increase

 

Operating ratio improved to 90.3 from 90.9

 

LTL shipments per workday rose 7.3%

 

LTL tonnage per workday increased by 3.0%

 

LTL revenue per hundredweight increased 5.3%

 

LTL revenue per shipment rose 1.1% to $235.87

 

“The record third quarter results at Saia were achieved even as the Company opened three new terminals and relocated another all in the back half of September, as we continue to focus on our long-term growth strategy”, said Saia President and Chief Operating Officer, Fritz Holzgrefe.  “While I was generally pleased with our execution in the third quarter, the challenge created by the new terminal openings and relocations late in the quarter, and continuing negative weight per shipment trends provided a larger than expected headwind to results”, continued Holzgrefe.  “Saia’s LTL yield increased year-over-year for the 37th consecutive quarter and the market remains rational in our view”, Holzgrefe concluded.  

 

“This year has been by far our most active year in terms of facility openings since our organic expansion began in 2017”, stated Saia Chief Executive Officer, Rick O’Dell.  “We have opened eight new terminals in the Northeast including two in October and we have relocated three others in major markets.  Additionally, in early October we opened a new terminal in Long Beach, California”, continued O’Dell.  “Long Beach is the second busiest container port in the country and this 14th terminal in California positions us well for continued growth.  The Long Beach terminal opening highlights our long-term opportunity to open new terminals in existing markets and get closer to customers, provide better service and ultimately gain market share”, continued O’Dell.  “We plan to relocate two additional terminals before year-end”, concluded O’Dell.

 

Financial Position and Capital Expenditures

 

Total debt was $165.3 million at September 30, 2019 and inclusive of the cash on-hand, net debt to total capital was 17.3%.  This compares to total debt of $121.3 million and net debt to total capital of 15.3% at September 30, 2018.

 

Net capital expenditures in the year-to-date period through September were $250.7 million including equipment acquired with capital leases.  This compares to $182.5 million in net capital expenditures through the first nine months of 2018.  In 2019, we anticipate net capital expenditures of $275-$300 million.

 

 


The following information was filed by Saia Inc (SAIA) on Wednesday, October 30, 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: 0001564590-19-038772
Submitted to the SEC: Wed Oct 30 2019 12:06:31 PM EST
Accepted by the SEC: Wed Oct 30 2019
Period: Monday, September 30, 2019
Industry: Trucking No Local

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