Saia Inc. drank from an LTL fire hose in the third quarter, taking on huge volumes in the wake of Yellow Corp.’s demise and driving up its costs and operating ratio.
Investors chose to focus on the higher costs and not the record revenue and the increases in tonnage, shipments and yield per hundredweight. As of midday Friday, shares of the Johns Creek, Georgia-based LTL carrier were down 7.3% to $349.48 per share.
Saia (NASDAQ: SAIA) reported third-quarter revenue of $775 million, a record for...
https://www.freightwaves.com/news/saia-took-on-big-volumes-higher-costs-in-q3