Less-than-truckload carrier Saia reported second-quarter earnings per share of $3.83, which was 4% below the consensus estimate of $4 but 12% higher year over year.
Revenue increased 19% y/y to $823 million as tonnage improved 10% and revenue per hundredweight, or yield, increased 8% (9% higher excluding fuel surcharges). The carrier reported an 83.3% operating ratio, which was 60 basis points worse y/y but 110 bps better than the first quarter.
Lighter-weight shipments and higher costs...