Saia has reported its financial results for the third quarter of 2014. It reported revenue of $332.5m, which represented an increase of 13.5% compared to the third quarter of 2013. The company also recorded operating income of $27.1m, a rise of 23.74% over the prior comparable period. Accordingly Saia’s margin stood at 8.15%.
Higher volumes were the driving factor behind revenue growth. LTL tonnage increased 8.2% as LTL shipments were up 7.6% with a 0.5% increase in weight per shipment. Higher pricing also helped to push up revenues while also contributing to the rise in operating income.
“Strong tonnage growth and improved pricing provided a solid foundation for third quarter results. Customers have responded favourably to our consistent and reliable service offering which was the catalyst for our 4.3% improvement in LTL yield for the quarter,” said Saia President and Chief Executive Officer, Rick O’Dell.
“While I am pleased to report the year-over-year improvement in our operating ratio, I still believe there is upside that will allow for improved performance as we optimize our network to handle the increased volumes in a capacity-constrained environment. The investments in sales resources we made late last year has helped us build momentum on the top-line and our operations group has responded well to the increased volumes, providing 98% on time service in the third quarter,” O’Dell added.
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