Saia, a trucking line based in Johns Creek, Ga., has experienced growth in net income and revenue in the third quarter. This can be attributed to the discontinuation of rival company Yellow, which has boosted demand for Saia's less-than-truckload haulage services.

Financial Performance

In the quarter ending in September, Saia recorded net earnings of $98.2 million, or $3.67 per share. This is a slight increase from $97.9 million, or $3.67 per share, during the same period last year. Despite a smaller count of outstanding shares compared to the previous year, Saia managed to surpass the average Wall Street estimate of $3.62 per share, as reported by FactSet.

Furthermore, Saia's third-quarter revenue saw a 6.2% increase, reaching $775.1 million. This exceeded the average analyst estimate of $744 million, according to FactSet.

Increased Demand and Growth

Saia experienced a 5% rise in less-than-truckload tonnage during the three-month period, reaching 1.47 billion metric tons. Additionally, less-than-truckload shipments per workday increased by 12% for the quarter.

The company attributes this growth to a significant increase in volume since late July, following the shutdown of a major competitor in the less-than-truckload market.

Expansion and Workforce

To accommodate the increased demand and support its growth, Saia has been actively expanding its workforce. Since the end of the second quarter, the company has added over 1,000 new employees.

Oil Prices Rebound Following U.S. Airstrikes in Syria

Corus Entertainment Halts Dividend Amidst Soft Advertising Demand

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

Nobel Prize in Physics Awards Electron Discoveries
News

Nobel Prize in Physics Awards Electron Discoveries

Three scientists win Nobel Prize for electron discoveries, revolutionizing understanding of electron behavior and paving...

Workday Stock Surges as Co-CEO Carl M. Eschenbach Acquires Shares
News

Workday Stock Surges as Co-CEO Carl M. Eschenbach Acquires Shares

Workday stock has experienced a remarkable 50% increase this year, outperforming the S&P 500 and showcasing the continue...

Amazon Commits to Changes in Marketplace Treatment
News

Amazon Commits to Changes in Marketplace Treatment

Amazon commits to providing equal chances for all product offers and not using rival seller data unfairly. Regulator's a...

Investigation Launched into Unilever's Environmental Claims
News

Investigation Launched into Unilever's Environmental Claims

The UK regulator is investigating consumer-goods giant Unilever to determine whether the company has violated any consum...