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Saia Inc (SAIA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Record First Quarter Results

 

JOHNS CREEK, GA – April 28, 2021 – Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported first quarter 2021 financial results.  Diluted earnings per share in the quarter were $1.40 compared to $1.06 in the first quarter of 2020.

 

Highlights from the first quarter operating results were as follows:

 

First Quarter 2021 Compared to First Quarter 2020 Results

 

 

Revenue was $484.1 million, a 8.4% increase

 

Operating income was $48.7 million, a 25.6% increase

 

Operating ratio of 89.9 compared to 91.3

 

LTL shipments per workday increased 2.6%

 

LTL tonnage per workday increased 5.3%

 

LTL revenue per hundredweight increased 5.6%

 

LTL revenue per shipment rose 8.4% to $261.96

 

 

 

 

 

 

 

First quarter effective tax rate was 22.3% compared to 23.7% in the same period last year.

 

“Though first quarter results were impacted by severe winter weather in February, overall I am satisfied with how we handled the disruption to our network and delivered record first quarter revenue, operating income and operating ratio,” said Saia President and Chief Executive Officer, Frederick Holzgrefe.  “For several days in mid-February we had about one-third of our network either closed or with limited operations as a result of severe winter weather which blanketed a good portion of the central U.S. Some business was undoubtedly lost during those days, but our operations team responded very well to quickly get our network productivity back to pre-storm levels,” added Holzgrefe.  

 

“March results include some catch-up activity, but business trends improved as well and we were able to post revenue growth of 8.4% for the quarter and a sub-90% operating ratio for the third consecutive quarter,” said Holzgrefe.  “Our targeted pricing actions continue to yield positive outcomes and our revenue per shipment grew 8.4% in the quarter and is driving our margin improvement,” concluded Mr. Holzgrefe.

 

Saia Executive Vice President and Chief Financial Officer, Douglas Col stated, “Record first quarter operating margins drove a 19% increase in operating cash flow and we exited the quarter with more than


The following information was filed by Saia Inc (SAIA) on Wednesday, April 28, 2021 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: 0001564590-21-021349
Submitted to the SEC: Wed Apr 28 2021 4:10:49 PM EST
Accepted by the SEC: Wed Apr 28 2021
Period: Wednesday, March 31, 2021
Industry: Trucking No Local

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