![]() ArcBest offers the solutions you’ve come to rely on from Panther Premium Logistics ®, now with access to a full array of transportation and logistics services, including less-than-truckload shipping. Saia has opened five new terminals since the start of the year.We are excited to present ArcBest ® as a leading logistics company with assured capacity options. This is very impressive given the sequential fuel headwind and highlights the positive impact the company’s network expansion is having, in our view, together with strong management execution.” “We note the company dropped over 60% of its sequential revenue growth to the bottom line. “But the numbers beneath the headline were even more encouraging,” the note said. Mehrotra said in his note that EPS and operating ratio in the second quarter beat expectations. Responding to an analyst question, Holzgrefe said the company could issue debt if it needed to - should a shopping spree require such a move. Analysts noted Saia’s cash pile and the company’s terminal acquisition opportunities. Saia ended the most recent quarter with $235 million cash on hand and total debt of $21.4 million. “And we think that if we execute on that, well, we can hang on to this, or this kind of share will come to us over time,” he added. Want more news? Listen to today's daily briefing above or go here for more info ![]() And that’s differentiated high level of service,” Holzgrefe said. “This is a unique opportunity, in a disruptive time, that we can show customers, this is what you get with Saia. Starting in mid-June, Saia began seeing freight flowing to the network with newer customers, he added.įor comparison, said Col, June shipments fell 1.8% year-over-year, while June tonnage decreased 2.2% compared with the same month in 2022, illustrating the impact of the market disruption that culminated July 30 in LTL peer Yellow shutting its doors. Volume declines moderated in each of the first two months of the second quarter but turned a corner in July due to industry dynamics changing over the past several weeks, the company’s top executive said.ĭuring the call, Chief Financial Officer Douglas Col said that July shipments were up about 5% year-over-year, while tonnage had risen 2.5%. “Saia released solid second-quarter results despite the softer economic environment we faced compared to last year,” Holzgrefe said in a statement accompanying the earnings. The company’s average length of haul fell 2% year-over-year to 892 miles from 910 a year earlier. How effective have third-party services proved to be for fleets? Let's find out with Michael Precia of Fleetworthy Solutions and Dan Rutherford with Summit Virtual CFO by Anders. Tune in above or by going to. Saia’s fuel surcharge fell 32% year-over-year in the most recent quarter, CEO Fritz Holzgrefe said during the company’s July 28 earnings call. Saia’s LTL revenue per shipment, excluding fuel surcharge revenue, increased 4.8% to $287.90 in the quarter from $274.60 in the 2022 period. Saia’s LTL tonnage per workday decreased 1.7% to 22.2 in the most recent quarter from 22.6 in the year-ago period. The company’s LTL tonnage decreased 1.7% year-over-year to 1,421 in the most recent quarter from 1,446 in the second quarter of 2022. Saia’s LTL shipments per workday decreased 3.8% year-over-year to 30.78 in the most recent three months from 32 in the year-ago period. The lower the operating ratio, the better the company’s performance. Operating ratio provides an insight on how a management team is doing when balancing the company’s costs and revenue generation. ![]() “It’s clear … the company is firing on all cylinders from an operating perspective and all but assures, in our view, a mid-70s in the next upcycle (which is likely coming sooner than expected given issues at Yellow),” Deutsche Bank research analyst Amit Mehrotra said in a July 28 research note.
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