Multiregional less-than-truckload carrier Saia nearly doubled its net profit year-over-year in the third quarter as revenue rose 14 percent to $268 million.
The Johns Creek, Ga.-based trucking company’s net profit increased 93.5 percent to $4.8 million while operating profit climbed 41.4 percent to $9.6 million.
In the first nine months of 2011, Saia had $777 million in total revenue, and its net profit for the period increased more than 600 percent year-over-year, to $8.9 million.
The carrier earned $2 million on $903 million in sales in 2010.
Higher health care, purchased transportation and truck maintenance costs, however, cut into the company’s net profit from the second to the third quarter.
“These cost challenges held back margin improvement and further validate the need for continued pricing progress,” Saia President and CEO Rick O’Dell said.
LTL tonnage rose 2.6 percent in the quarter from a year earlier, though shipments were flat year-over-year, the company said. LTL revenue per hundredweight rose 11.6 percent, while LTL revenue per shipment rose 14.5 percent year-over-year.
The company also spent $51.8 million on trucks and technology in the first nine months of 2011, and expects capital spending to reach $65 million for the year.
Contact William B. Cassidy at email@example.com. Follow him on Twitter at @wbcassidy_joc.