Saia attributes 1Q loss to weak market, high fuel prices, harsh winter

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Saia Inc. on Friday, April 25, attributed a first-quarter loss to weak pricing and demand, compounded by unprecedented fuel prices and severe winter weather. The company reported a loss of $833,000, compared with a year-ago profit of $3 million. Revenue rose 8 percent to $249.3 million, from $231.8 million in the prior-year period.

“We are operating in a difficult economic environment with weak tonnage demand, increasing price competition and escalating fuel prices, which continue to pressure margins,” said Rick O’Dell, president and chief executive officer of Johns Creek, Ga.-based Saia. “We are managing through this challenging environment with our targeted sales and marketing programs to build density while continuing to pursue engineered cost and efficiency initiatives.”