Saia Reports Record Third Quarter Earnings per Share of $0.64
Revenues Increased 13.5% and Operating Income Increased 23.8%
(firmenpresse) - JOHNS CREEK, GA -- (Marketwired) -- 10/28/14 -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload and logistics services, today reported third quarter 2014 results.
Revenues were $332.5 million, an increase of 13.5%
LTL tonnage increased 8.2% as LTL shipments were up 7.6% with a 0.5% increase in weight per shipment
Operating income increased to $27.1 million compared to $21.9 million
Operating ratio was 91.8 compared to 92.5
Diluted earnings per share were 25.5% higher at $0.64 compared to $0.51
"Strong tonnage growth and improved pricing provided a solid foundation for third quarter results. Customers have responded favorably 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 investment 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. In July, we were pleased to be able to increase wages for the fourth year in a row for our dedicated non-union workforce," O''Dell added.
Total debt was $73.3 million at September 30, 2014. Net of the Company''s $7.2 million in cash on hand at quarter-end, net debt to total capital was 15.9%. This compares to total debt of $91.5 million and net debt to total capital of 22.9% at the end of last year''s third quarter.
Net capital expenditures year-to-date through September were $85.5 million inclusive of equipment acquired with capital leases. This compares to $97.7 million spent through the first nine months of 2013. The Company projects net capital expenditures for the full year of approximately $118 million. In the third quarter, Saia put in service nearly half of the 800 additional linehaul trailers that will be put in service by year end.
Management will hold a conference call to discuss quarterly results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 888-505-4375 or 719-325-2376 referencing conference ID #5750398. Callers should dial in five to ten minutes in advance of the conference call. This call will be webcast live via the Company web site at . A replay of the call will be offered two hours after the completion of the call through November 3, 2014 at 2:00 p.m. Eastern Time. The replay will be available by dialing 1-888-203-1112 or 719-457-0820.
Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 147 terminals in 34 states. For more information on Saia, Inc. visit the Investor Relations section at .
The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, assumptions and uncertainties include, but are not limited to, general economic conditions including downturns in the business cycle; the creditworthiness of our customers and their ability to pay for services; competitive initiatives and pricing pressures, including in connection with fuel surcharge; the Company''s need for capital and uncertainty of the current credit markets; the possibility of defaults under the Company''s debt agreements (including violation of financial covenants); possible issuance of equity which would dilute stock ownership; integration risks; the effect of litigation including class action lawsuits; cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment and other assets; governmental regulations, including but not limited to Hours of Service, engine emissions, the "Compliance, Safety, Accountability" (CSA) initiative, compliance with legislation requiring companies to evaluate their internal control over financial reporting, changes in interpretation of accounting principles and Homeland Security; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company''s workforce become unionized; effectiveness of Company-specific performance improvement initiatives; terrorism risks; self-insurance claims and other expense volatility; increased costs as a result of healthcare reform legislation and other financial, operational and legal risks and uncertainties detailed from time to time in the Company''s SEC filings. As a result of these and other factors, no assurance can be given as to our future results and achievements. A forward looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur.
Doug Col
678.542.3910
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Datum: 28.10.2014 - 06:30 Uhr
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