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Saia Shares Rise After Q2 Results Beats Estimates

Saia Shares Rise After Q2 Results Beats Estimates
  • Saia Inc (NASDAQ: SAIAreported second-quarter revenue growth of 36.6% year-over-year to $571.3 million, beating the consensus of $546.21 million.
  • EPS improved to $2.34 from $1.07 in 2Q20, beating consensus of $2.00.
  • The operating income increased by 132.4Y/Y to $82.9 million, and the margin expanded by 600 bps to 14.5%.
  • The company reported an Operating ratio of 85.5% compared to 91.5% in 2Q20.
  • Saia generated cash from operating activities year-to-date of $140.14 million, compared to $148.23 million a year ago.
  • LTL shipments per workday increased 15.3%, tonnage per workday increased 23.1%, and revenue per hundredweight increased 10.5%. LTL revenue per shipment rose by 17.9% Y/Y to $277.24.
  • Total debt was $61.0 million at June 30, 2021, and inclusive of the cash-on-hand, net debt to total capital was 0.8%.
  • Net capital investments were $100.0 million in the first half of 2021.
  • Saia said Shipper demand remains strong early in the third quarter. It anticipates net capital expenditures of $275 million in 2021.
  • Price Action: SAIA shares are up 7.67% at $220.41 during the market session on the last check Thursday.

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