Multiregional less-than-truckload carrier Saia increased its year-over-year profit 41 percent to $8.3 million in the second quarter, as its revenue rose 15 percent to $266 million.
That’s an even bigger advance from Saia’s $713,000 net income in the first quarter, when the company also reported a 15 percent increase in revenue to $243 million.
“Measured pricing actions” and higher fuel surcharges boosted Saia’s revenue per hundredweight or yield 9.6 percent compared with the year-ago quarter.
That indicates accelerating LTL pricing gains from the first quarter, when Saia’s revenue per hundredweight rose 8.2 percent.
The Johns Creek, Ga.-based company also hauled more freight, with shipments increasing 3 percent year-over-year. Weight per shipment was up 1.5 percent in the quarter.
“Improvements in the transportation landscape have permitted us to employ prudent pricing actions across our customer base,” said President and CEO Rick O’Dell. Contract rates rose higher than in the first quarter of 2011, he said.
The $903 million carrier, the ninth largest LTL trucker in the U.S. when ranked by revenue, also culled non-profitable shipments and accounts from its books.
Saia’s improved profitability reflects the pricing discipline trucking analysts and other LTL executives say has taken hold in the first half of 2011.
“This is part of a slow but steady improvement plan and is a welcome change from the challenging pricing and volume environment in which we had been operating the past several years,” said O’Dell.
Contact William B. Cassidy at firstname.lastname@example.org. Follow him on Twitter at @wbcassidy_joc