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Jun 30, 2021
Saia Q2 2021 Earnings Report
Saia reported record results in the second quarter of 2021, marking a significant recovery from the COVID-19 pandemic's onset.
Key Takeaways
Saia Inc. reported a strong second quarter in 2021, with revenue reaching $571.3 million, a 36.6% increase compared to the previous year. Diluted earnings per share were $2.34, a significant increase from $1.07 in Q2 2020. The company achieved a record operating ratio of 85.5%.
Revenue increased by 36.6% to $571.3 million.
Operating income increased by 132.4% to $82.9 million.
The operating ratio improved to 85.5 compared to 91.5.
Diluted earnings per share reached $2.34, up from $1.07 year-over-year.
Saia
Saia
Forward Guidance
Saia anticipates continued strong shipper demand into the third quarter and plans to open additional terminals during the second half of the year. The company is also piloting alternative fuel tractors.
Positive Outlook
- Shipper demand remains strong early in the third quarter.
- The company continues to hire drivers and dockworkers.
- Saia is expanding its terminal network with the opening of a new terminal in Hagerstown, Maryland, in June.
- The company expects to open additional terminals during the second half of the year.
- Saia is piloting alternative fuel tractors, including all-electric and compressed natural gas (CNG) tractors.
Challenges Ahead
- The company is experiencing a very tight labor market.
- Rising operational costs are a concern.
- The company is focused on the profitability of added volumes.
- The report mentions various risks and uncertainties that could affect future results, as detailed in the cautionary note regarding forward-looking statements.
- These risks include economic conditions, competition, cost and availability of resources, claims expenses, technological disruptions, labor relations, and regulatory factors.