Saia reports Q1 EPS $2.85, consensus $2.69

Reports Q1 revenue $660.5M, consensus $667.16M."First quarter business levels were below what we would consider normal seasonality, but I am pleased with how we managed costs and maintained high quality customer service throughout the quarter," stated Saia President and CEO, Fritz Holzgrefe. "Despite the softer freight environment we are working through, we still had a constructive quarter in terms of our pricing discussions with customers and we posted a 4.5% increase in yield excluding fuel surcharge in the quarter. Customer satisfaction continues to improve and our value proposition is enhanced as we expand our network footprint. We have opened four new terminals so far this year, including the most recent opening earlier this week, Atlanta Northeast, which is our third terminal serving metro Atlanta and surrounding communities. We have a robust pipeline of real estate opportunities under constant review, as we see a multi-year opportunity to not only grow the Saia brand in new markets, but also to open additional terminals in underserved markets. Our customer first focus is resonating with shippers, and as we grow our footprint we see long-term share gain opportunities with both new and existing customers."