Higher tonnage, shipments and pricing drove less-than-truckload carrier Saia further into the black in the first quarter, with a net income of $713,000.
The multi-regional carrier increased its operating income to $4.1 million, compared with a $2.1 million operating loss a year ago, and a $3.2 million net loss.
First quarter revenue was $243 million, up 15 percent year-over-year. Saia’s operating ratio turned positive at 98.3, compared with 101 a year ago.
The company had more LTL shipments per day, and heavier LTL shipments than it did in the first quarter a year ago. And shippers paid more for them.
LTL tonnage per work day rose 3.9 percent, shipments per workday rose 2.2 percent, and weight per shipment rose 1.7 percent from the year ago quarter.
Revenue per hundredweight, or yield, was up 8.2 percent, propelled by higher rates and fuel surcharges. LTL fuel surcharge revenue was up 14.1 percent.
“I believe that we are still in the early stages of this yield recovery with additional opportunities ahead,” said Rick O’Dell, president and CEO of Saia.
Johns Creek, Ga.-based Saia operates 147 terminals in 34 states. The company returned to profitability last year with a $2 million profit on $903 million in sales.