Less-than-truckload carrier Saia saw tonnage growth accelerate on a year-over-year comparison in August, but it faced an easier prior-year comp during the month than it did in July.
Johns Creek, Georgia-based Saia (NASDAQ: SAIA) reported Thursday an 8.7% y/y tonnage increase in August as daily shipments stepped 1.1% higher and weight per shipment jumped 7.5%. The metrics improved slightly from July's y/y growth rates due to easier prior-year comps.
On a two-year-stacked comparison, Saia's tonnage increases slowed for a second straight month (+6.5% in August and +8.7% in July). That said, the carrier implemented a 7.1% general rate increase on July 6, which it noted can create some near-term volatility. Further, the carrier faces easier prior-year comps (excluding November) the rest of the year.
Saia does not provide revenue-based metrics in its intraquarter updates.
However, the company previously noted that revenue per shipment increased 4% from the beginning to the end of the second quarter. The recent GRI was 120 basis points higher and three months earlier than last year's rate ***** p—another positive sign. And, contractual rate renewals averaged 10.7% in the second quarter (+15.8% on a two-year-stacked comp).
#carrier #tonnage
Johns Creek, Georgia-based Saia (NASDAQ: SAIA) reported Thursday an 8.7% y/y tonnage increase in August as daily shipments stepped 1.1% higher and weight per shipment jumped 7.5%. The metrics improved slightly from July's y/y growth rates due to easier prior-year comps.
On a two-year-stacked comparison, Saia's tonnage increases slowed for a second straight month (+6.5% in August and +8.7% in July). That said, the carrier implemented a 7.1% general rate increase on July 6, which it noted can create some near-term volatility. Further, the carrier faces easier prior-year comps (excluding November) the rest of the year.
Saia does not provide revenue-based metrics in its intraquarter updates.
However, the company previously noted that revenue per shipment increased 4% from the beginning to the end of the second quarter. The recent GRI was 120 basis points higher and three months earlier than last year's rate ***** p—another positive sign. And, contractual rate renewals averaged 10.7% in the second quarter (+15.8% on a two-year-stacked comp).
#carrier #tonnage
2 months ago
