Saia’s net income shoots up 72 percent

Revenues growth of 17.7 percent attributed to yield improvement, higher shipments and tonnage, and increased fuel surcharge revenues.    Saia Inc.’s net income for the second quarter of 2018 totaled $30.3 million, up 72.3 percent year-over-year as the company benefited from a lower effective tax rate.
   The less-than-truckload company’s effective tax rate for the quarter was 24.8 percent compared to 37.4 percent for last year’s second quarter, Saia EVP and CFO Frederick Holzgrefe said.
   Saia’s revenues for the second quarter of 2018 totaled $429 million, rising 17.7 percent year-over-year. The double-digit revenues growth was due to yield improvement, higher shipments and tonnage, and increased fuel surcharge revenues, Holzgrefe said.
   Net capital expenditures for the first half of 2018 totaled $140.6 million, including equipment acquired with capital leases. For the full year, Saia expects net capital expenditures will total around $265 million, which will be used for investments in terminal infrastructure and to lower the average age of the company’s tractor, trailer and forklift fleets.