Saia, Inc. (NASDAQ: SAIA) reported Q2 EPS of $1.15, $0.04 better than the analyst estimate of $1.11. Revenue for the quarter came in at $428.7 million versus the consensus estimate of $417.24 million.

Second Quarter 2018 Compared to Second Quarter 2017 Results

• Record quarterly revenue of $429 million, an 17.7% increase
• LTL Shipments and Tonnage rose 4.3% and 7.7%, respectively
• LTL Revenue per hundredweight increased 9.6%
• Operating ratio improved by 160 basis points to 90.3%
• Operating income rose 40% to a record $41.6 million
• Net income rose 72% to $30.3 million

“I am pleased to announce record quarterly revenue and earnings for the second quarter of 2018”, said Saia President and Chief Executive Officer, Rick O’Dell. “While the freight environment was robust in the period, our results were primarily driven by our work on mix management and yield improvement initiatives across our customer base. Contractual renewals were up 9.1% in the quarter, contributing to our overall increase in revenue per hundredweight of 9.6%,” O’Dell continued.

“We have opened three new terminals in 2018 and have plans to open three more by year end. Our high service levels and expanded geographic reach position us well for continued share gains in the LTL marketplace,” concluded Mr. O’Dell.

For earnings history and earnings-related data on Saia, Inc. (SAIA) click here.