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Saia Inc (SAIA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Second Quarter Results

 

JOHNS CREEK, GA – July 29, 2020 – 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 2020 financial results.  Diluted earnings per share in the quarter were $1.07 compared to $1.40 in the second quarter of 2019.

 

Highlights from the second quarter operating results were as follows:

 

Second Quarter 2020 Compared to Second Quarter 2019 Results

 

 

Revenue was $418.1 million, a 9.9% decrease

 

Operating income was $35.7 million, a 30.3% decrease

 

Operating ratio of 91.5 compared to 89.0

 

LTL shipments per workday decreased 9.7%

 

LTL tonnage per workday decreased by 8.9%

 

LTL revenue per hundredweight decreased 0.6%

 

LTL revenue per shipment rose 0.3% to $235.08

 

“Our second quarter results were achieved  during one of the most volatile operating backdrops our company has ever faced, “said Saia President and Chief Executive Officer, Fritz Holzgrefe.  “I have been gratified  that our employees responded to the challenge by adapting to new operating procedures and practices, to provide not only for their safety, but that of our customers and vendors. Their willingness to do so allowed us to continuously fulfill our essential  role in servicing our customers' critical needs,” continued Holzgrefe.

 

“After a dramatic drop in shipment volume in mid-March, we began to see a bottoming process in mid-April and then shipment trends continued to improve in May and June,” stated Holzgrefe.  “Our second quarter results reflect both a difficult April and the subsequent improved volumes thereafter, combined with the prudent cost measures adopted quickly.  As volumes improved through the quarter we were able to begin returning furloughed staff back to full-time hours and we were also able to award a special a one-time bonus of $250 per employee to those employees who worked through the difficult conditions created by the pandemic.  While our operating ratio of 91.5 was higher than our record operating ratio last year, I was pleased that we were able to maintain margins similar to our record first quarter results this year,” added Holzgrefe.

 


The following information was filed by Saia Inc (SAIA) on Wednesday, July 29, 2020 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

Ticker: SAIA
CIK: 1177702
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-034361
Submitted to the SEC: Wed Jul 29 2020 5:37:25 PM EST
Accepted by the SEC: Thu Jul 30 2020
Period: Tuesday, June 30, 2020
Industry: Trucking No Local

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