Saia reports Q2 EPS $3.42, consensus $3.27

Reports Q2 revenue $694.6M, consensus $702.61M. “Saia released solid second quarter results despite the softer economic environment we faced compared to last year,” stated Saia President and Chief Executive Officer, Fritz Holzgrefe. “Total revenue was down only 6.8% while fuel surcharge revenue fell by more than 30%. Strong core execution helped to moderate tonnage declines year-over-year. Declining fuel costs helped offset cost trends and we were able to report an 82.7% operating ratio,” added Holzgrefe. “Our commitment to customer service and solid execution allowed us to raise prices and improve our revenue per shipment excluding fuel surcharge revenue, a key metric we monitor as we think about overcoming inflationary costs in our business,” continued Holzgrefe.