Saia, Inc. (NASDAQ:SAIA) Q2 2022 Earnings Conference Call July 27, 2022 11:00 AM ET
Company Participants
Doug Col - Executive Vice President & Chief Financial Officer
Fritz Holzgrefe - President & Chief Executive Officer
Conference Call Participants
Scott Group - Wolfe Research
Ravi Shanker - Morgan Stanley
Todd Fowler - KeyBanc Capital Markets
Amit Mehrotra - Deutsche Bank
Bascome Majors - Susquehanna
Ken Hoexter - Bank of America
Jon Chappell - Evercore ISI
Tom Wadewitz - UBS
Tyler Brown - Raymond James
Jack Atkins - Stephens
Bruce Chan - Stifel
James Monigan - Wells Fargo
Ariel Rosa - Credit Suisse
Chris Wetherbee - Citibank
Operator
Good day, ladies and gentlemen and welcome to the Saia, Inc. Second Quarter 2022 Earnings Call. Today's call is being recorded.
At this time, I would like to turn the conference over to Mr. Doug Col, Saia Executive Vice President and Chief Financial Officer. Please go ahead, sir.
Doug Col
Thank you, Kyle. Good morning, everyone. Welcome to Saia's second quarter 2022 conference call. With me for today's call is Saia's President and Chief Executive Officer, Fritz Holzgrefe.
Before we begin, you should note that during this 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 second quarter results. Our second quarter revenue of $746 million surpassed last year's second quarter revenue by 30.5%, is a record for any quarter in our company's history. Shipments per workday grew by 1.8% and pricing and business mix management efforts drove an increase in yield, excluding fuel surcharge of nearly 15%.
Our LTL revenue per shipment, excluding fuel surcharge, was 16% higher year-over-year. Business trends remained good through the quarter and our daily shipment activity across the quarter was roughly 32,000 shipments per day. Service levels continue to improve across all KPIs year-over-year and we posted another solid cargo claims ratio of 0.57% for the quarter.