Saia, Inc. (NASDAQ: SAIA) reported Q2 EPS of $2.34, $0.34 better than the analyst estimate of $2.00. Revenue for the quarter came in at $571.3 million versus the consensus estimate of $546.21 million.

“It is great to report record second quarter results only about a year removed from the onset of the COVID-19 pandemic,” stated Saia President and CEO, Fritz Holzgrefe. “Our operating ratio of 85.5% in the quarter is the best OR for any quarter in our history. We had a very good quarter in terms of service and our cargo claims ratio of 0.54% is also a record,” added Holzgrefe. “Shipper demand remains strong early in the third quarter and we continue to hire drivers and dockworkers across all areas of our service map,” said Holzgrefe.

“We were pleased to announce the opening of our Hagerstown, Maryland terminal in June and we expect to open additional terminals during the second half of the year. We continue to maintain and operate one of the cleanest diesel fleets in the industry. During the quarter, we commenced pilot programs using alternative fuel tractors by adding two all-electric tractors and five compressed natural gas (CNG) tractors,” concluded Holzgrefe.

Saia Executive Vice President and Chief Financial Officer, Douglas Col added, “Total shipments in the second quarter were an all-time quarterly high and we are working hard to accommodate our customers’ needs in an environment where we are experiencing a very tight labor market.” “With rising operational costs, we focused more than ever on the profitability of the added volumes and our 10.5% increase in yield pushed our revenue per shipment to a record $277, up nearly 18% over last year,” said Col.

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