Earnings release
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Exhibit 99.1 SALA JOHNS CREEK , GA - Saia Reports Record Third Quarter Results October 28 , 2021 – Saia , Inc. ( Nasdaq : SAIA ) , a leading transportation provider offering national less- than - truckload ( LTL ) , non - asset truckload , expedited and logistics services , today reported third quarter 2021 financial results . Diluted earnings per share in the quarter were $ 2.98 compared to $ 1.56 in the third quarter of 2020 . Excluding a gain on the sale of a terminal , our adjusted operating ratio for the quarter was a record 83.5 and our diluted earnings per share were $ 2.86 . 1 Highlights from the third quarter operating results were as follows : Third Quarter 2021 Compared to Third Quarter 2020 Results • Revenue was $ 616.2 million , a 28.0 % increase • • Operating income was $ 106.1 million and adjusted operating income was $ 101.9 million , an 84.5 % increase 1 Adjusted operating ratio of 83.5 compared to 88.51 LTL shipments per workday increased 2.3 % LTL tonnage per workday increased 11.0 % LTL revenue per hundredweight increased 14.9 % LTL revenue per shipment rose 24.8 % to $ 299 " After posting record quarterly results in the second quarter this year , our third quarter results were again at new record levels , " said Saia , Inc. President and CEO Fritz Holzgrefe . " Third quarter revenue , operating income , operating ratio , net income and EPS , were all records for any quarter in our Company's rich history . Operationally we continue to perform very well and we have been able to navigate the tight labor market , as well as supply chain disruptions that have caused equipment delivery delays to provide consistent service to our valued customers , ” added Holzgrefe . “ We maintained our 98 % on - time delivery standard in the quarter and our cargo claims ratio of 0.63 % was essentially in line with the prior year , despite adding hundreds of new dock associates this year , " said Holzgrefe . “ In the third quarter we opened a new terminal in Fredericksburg , Virginia and in October we opened two additional terminals in Youngstown , Ohio and New Haven , Connecticut . We have plans to open two additional terminals by year end and our plans to open 10-15 new terminals in 2022 are well underway , ” concluded Holzgrefe .