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Mar 31, 2020
Saia Q1 2020 Earnings Report
Saia's first quarter results were marked by shipment volatility and a downturn in business volumes due to the COVID-19 pandemic, but the company was able to make cost adjustments and achieve a record low first quarter operating ratio.
Key Takeaways
Saia Inc. reported an 8.7% increase in revenue, a 35.4% increase in operating income, and diluted earnings per share of $1.06 compared to $0.85 in the first quarter of 2019. The company experienced shipment volatility due to the COVID-19 pandemic but managed to improve financial results through cost adjustments and productivity improvements.
Revenue increased by 8.7% compared to the first quarter of 2019.
Operating income increased by 35.4% compared to the first quarter of 2019.
The operating ratio improved to 91.3 compared to 93.0 in the first quarter of 2019.
LTL shipments per workday rose 2.3%.
Saia
Saia
Forward Guidance
Saia has prioritized its 2020 investment plan to match its current outlook, selectively foregoing some previously planned investments until business conditions improve, while remaining open to opportunistic investments.