Earnings release
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Exhibit 99.1 SALA JOHNS CREEK , GA - Saia Reports Record First Quarter Results April 28 , 2021 - Saia , Inc. ( Nasdaq : SAIA ) , a leading transportation provider offering multi - regional less - than - truckload ( LTL ) , non - asset truckload , expedited and logistics services , today reported first quarter 2021 financial results . Diluted earnings per share in the quarter were $ 1.40 compared to $ 1.06 in the first quarter of 2020 . Highlights from the first quarter operating results were as follows : First Quarter 2021 Compared to First Quarter 2020 Results • • Revenue was $ 484.1 million , a 8.4 % increase Operating income was $ 48.7 million , a 25.6 % increase Operating ratio of 89.9 compared to 91.3 LTL shipments per workday increased 2.6 % LTL tonnage per workday increased 5.3 % LTL revenue per hundredweight increased 5.6 % LTL revenue per shipment rose 8.4 % to $ 261.96 First quarter effective tax rate was 22.3 % compared to 23.7 % in the same period last year . “ Though first quarter results were impacted by severe winter weather in February , overall I am satisfied with how we handled the disruption to our network and delivered record first quarter revenue , operating income and operating ratio , ” said Saia President and Chief Executive Officer , Frederick Holzgrefe . “ For several days in mid - February we had about one - third of our network either closed or with limited operations as a result of severe winter weather which blanketed a good portion of the central U.S. Some business was undoubtedly lost during those days , but our operations team responded very well to quickly get our network productivity back to pre - storm levels , " added Holzgrefe . " March results include some catch - up activity , but business trends improved as well and we were able to post revenue growth of 8.4 % for the quarter and a sub - 90 % operating ratio for the third consecutive quarter , ” said Holzgrefe . “ Our targeted pricing actions continue to yield positive outcomes and our revenue per shipment grew 8.4 % in the quarter and is driving our margin improvement , " concluded Mr. Holzgrefe . Saia Executive Vice President and Chief Financial Officer , Douglas Col stated , “ Record first quarter operating margins drove a 19 % increase in operating cash flow and we exited the quarter with more than