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Saia Inc (SAIA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Saia Inc

CIK: 1177702 Ticker: SAIA

Exhibit 99.1

 

Saia Reports Record Second Quarter Results

 

JOHNS CREEK, GA – July 29, 2021 – Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported second quarter 2021 financial results.  Diluted earnings per share in the quarter were $2.34 compared to $1.07 in the second quarter of 2020.

 

Highlights from the second quarter operating results were as follows:

 

Second Quarter 2021 Compared to Second Quarter 2020 Results

 

 

Revenue was $571.3 million, a 36.6% increase

 

Operating income was $82.9 million, a 132.4% increase

 

Operating ratio of 85.5 compared to 91.5

 

LTL shipments per workday increased 15.3%

 

LTL tonnage per workday increased 23.1%

 

LTL revenue per hundredweight increased 10.5%

 

LTL revenue per shipment rose 17.9% to $277

 

“It is great to report record second quarter results only about a year removed from the onset of the COVID-19 pandemic,” stated Saia President and CEO, Fritz Holzgrefe.  “Our operating ratio of 85.5% in the quarter is the best OR  for any quarter in our history.  We had a very good quarter in terms of service and our cargo claims ratio of 0.54% is also a record,” added Holzgrefe.  “Shipper demand remains strong early in the third quarter and we continue to hire drivers and dockworkers across all areas of our service map,” said Holzgrefe.

 

“We were pleased to announce the opening of our Hagerstown, Maryland terminal in June and we expect to open additional terminals during the second half of the year.  We continue to maintain and operate one of the cleanest diesel fleets in the industry.  During the quarter, we commenced pilot programs using alternative fuel tractors by adding two all-electric tractors and five compressed natural gas (CNG) tractors,” concluded Holzgrefe.

 

Saia Executive Vice President and Chief Financial Officer, Douglas Col added, “Total shipments in  the second quarter were an all-time quarterly high and we are working hard to accommodate our customers’ needs in an environment where we are experiencing a very tight labor market.”  “With rising operational costs, we focused more than ever on the profitability of the added volumes and our 10.5% increase in yield pushed our revenue per shipment to a record $277, up nearly 18% over last year,” said Col.


The following information was filed by Saia Inc (SAIA) on Thursday, July 29, 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: 0001564590-21-039127
Submitted to the SEC: Thu Jul 29 2021 4:11:16 PM EST
Accepted by the SEC: Thu Jul 29 2021
Period: Wednesday, June 30, 2021
Industry: Trucking No Local

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