Benzinga | Jul 29, 2021 12:38PM EDT

Saia Shares Rise After Q2 Results Beats Estimates

* Saia Inc (NASDAQ:SAIA) reported 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.