Saia, Inc. (NASDAQ:SAIA) Q3 2022 Earnings Call Transcript Q3 2022 Earnings Conference Call November 1, 2022 8:00 AM ET
Company Participants
Doug Col - Executive Vice President & Chief Financial Officer
Fritz Holzgrefe - President & Chief Executive Officer
Conference Call Participants
Jon Chappell - Evercore ISI
Jack Atkins - Stephens
Ken Hoexter - Bank of America
Jason Seidl - Cowen
Scott Group - Wolfe Research
Chris Wetherbee - Citi
Amit Mehrotra - Deutsche Bank
Todd Fowler - KeyBanc Capital Markets
James Monigan - Wells Fargo
Ravi Shanker - Morgan Stanley
Tom Wadewitz - UBS
Jordan Alliger - Goldman Sachs
Bascome Majors - Susquehana
Chris Kuhn - Benchmark
Ariel Rosa - Credit Suisse
Bruce Chan - Stifel
Operator
Good morning. My name is Sasha, and I will be your conference operator today. At this time, I would like to welcome everyone to the Saia, Inc. Third Quarter Conference Call. Today's conference is being recorded. [Operator Instructions].
I will now turn the call over to Doug Col, Saia’s Executive Vice President and Chief Financial Officer. Please go ahead.
Doug Col
Thank you, Sasha. Good morning, everyone. Welcome to Saia's third quarter 2022 conference call. With me for today's call is Saia's President and Chief Executive Officer, Fritz Holzgrefe. Thanks for joining us today. We sincerely appreciate your patience as we had to work through some technical issues with our earnings call service provider yesterday.
Before we begin today’s call, you should note that during the call, we may make some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all other statements that might be made on this call that are not historical facts are subject to a number of risks and uncertainties and actual results may differ materially. We refer you to our press release and our SEC filings for more information on the exact risk factors that could cause actual results to differ.
I will now turn the call over to Fritz for some opening comments.
Fritz Holzgrefe
Good morning, and thank you for joining us to discuss Saia's third quarter results. Freight trends have moderated over the last couple of months, but I'm pleased to report this morning that Saia achieved record third quarter revenue and operating income, topping last year's record results.
In the quarter, we averaged approximately 30,500 shipments per day, about 800 fewer shipments per day than in the same quarter last year and down from 32,000 shipments per day average in the second quarter. The Q2 to Q3 daily trends were below normal seasonality. Those shipments were down 2.5% in the quarter. Weight per shipment increased and tonnage was essentially flat to last year at down 0.4%.