The logistics services provider posted a net income of $11.8 million on operating revenues of $317.2 million for the third quarter of 2015.
Saia, Inc. posted a net income of $11.8 million for the third quarter of 2015, a year-over-year drop of 27.7 percent, according to the company’s most recent unaudited financial statements.
Diluted earnings per share at Saia fell 28.1 percent, from $0.64 per share in Q3 2014 to $0.46 per share in Q3 2015.
Operating revenues reached $317.2 million, while the operating income reached $19.8 million, year-over-year declines of 4.6 percent and 26.9 percent, respectively.
“Our disappointing third quarter results were primarily the result of declining tonnage trends during the quarter, which made it difficult to offset higher investments in driver wages. Additionally, we incurred increased expenses associated with self-insurance claims,” Saia, Inc. President and CEO Rick O’Dell said in a statement. “In this type of volume environment we will more aggressively manage costs and maintain a constant focus on mix management to ensure that proper compensatory pricing is in place.”
“Despite the negative year-over-year earnings results, we improved pricing and LTL yield for the 21st consecutive quarter. Our level of service remains excellent at 98% on-time and we further improved our cargo claims results in the quarter,” added O’Dell.
Based out of Johns Creek, Ga., Saia, Inc. offers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. Saia LTL Freight operates 147 terminals in 34 states.
Saia’s net income falls 27.7% in Q3
