Saia, Inc. (NASDAQ: SAIA) reported Q3 EPS of $1.07, $0.03 better than the analyst estimate of $1.04. Revenue for the quarter came in at $425.6 million versus the consensus estimate of $418.32 million.

• Record third quarter revenue of $425.6 million, a 19% increase
• LTL shipments and tonnage rose 5.4% and 7.3%, respectively
• LTL revenue per hundredweight increased 11.9%
• Revenue per shipment rose 13.9% to $233.38
• Operating ratio improved by 220 basis points to 90.9%
• Operating income rose 57% to a record $38.7 million
• Net income rose 96% to $28.2 million

“Our record third quarter revenue and earnings reflect a continuation of the positive trends that have fueled our growth so far this year. A solid freight environment has enabled us to manage our freight mix and achieve higher levels of profitability,” said Saia President and Chief Executive Officer, Rick O’Dell. “We continue our efforts to manage our mix of business by seeking rate increases where necessary and shedding unprofitable freight, which I thought we did very well in the quarter as evidenced by our 11.9% increase in yield. Contractual renewals were up 10.2% in the quarter, setting the tone for what we expect to be continued positive pricing over the next 12 months,” O’Dell continued.

“We intend to open two terminals in December, which will then enable us to offer direct service to customers in Massachusetts. These two new terminals will bring our total openings count in the Northeast to 10 since our expansion began in May 2017,” concluded Mr. O’Dell.

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