Saia’s expanded terminal network delivers record revenue, tonnage
Less-than-truckload carrier Saia achieved record revenue and tonnage in the third quarter by leveraging its expanded terminal network, with operational focus now shifting toward optimizing performance at these new locations. The post Saia’s expanded terminal network delivers record revenue, tonnage appeared first on FreightWaves .
Less-than-truckload provider Saia reported a record third-quarter performance driven by its expanding terminal network. The company's revenue reached $983 million, a 17% year-over-year increase, surpassing analysts' expectations by $15 million. Tonnage increased by 9% year-over-year, with shipments growing by 1% and weight per shipment rising by 8%.
Saia's earnings per share (EPS) amounted to $3.41, which was 60 cents higher than the previous year and 11 cents above the consensus estimate, despite a 10-cent decrease in net interest expense. The company's focus is now on optimizing results at its new locations, having opened 45 new terminals and expanded another 25 since 2022.
Saia's management considers itself "on equal footing" with other national carriers. The company's strategic rate increase, coupled with improved services, positions it well to close the pricing gap with its peers. Despite a 7.1% general rate increase, Saia maintains an 87.6% operating ratio, which is unchanged year-over-year and only 70 basis points worse than the second quarter.
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