Saia, Inc. (NASDAQ:SAIA) Q3 2023 Earnings Conference Call October 27, 2023 10:00 AM ET
Company Participants
Doug Col - EVP and CFO
Fritz Holzgrefe - President and CEO
Conference Call Participants
Chris Wetherbee - Citigroup
Amit Mehrotra - Deutsche Bank
Scott Group - Wolfe Research
Jack Atkins - Stephens
Ken Hoexter - Bank of America
Allison Poliniak - Wells Fargo
Bruce Chan - Stifel
Jordan Alliger - Goldman Sachs
Eric Morgan - Barclays
Ravi Shanker - Morgan Stanley
Jason Seidl - TD Cowen
Tom Wadewitz - UBS
Stephanie Moore - Jefferies
Chris Kuhn - The Benchmark Company
Bascome Majors - Susquehanna
Operator
Thank you for standing by. My name is Eric, and I will be your conference operator today. At this time. I would like to welcome everyone to the Q3 2023 Saia Incorporated Earnings Conference Call. [Operator Instructions] Thank you.
I would now like to turn the call over to Doug Col, Executive Vice President and CFO.
Doug Col
Please go ahead. Thanks, good morning everyone, welcome to Saia third quarter 2023 conference call. With me for today's call is Saia's President and Chief Executive Officer, Fritz Holzgrefe. Before we begin, you should know 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'll 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.
Our third quarter revenue of $775 million surpassed last year's third-quarter revenue by 6.2% and is a record for any quarter in our company's history. Shipments per workday increased, by 12.2%, compared to last year. Obviously, impacted in a positive way, from the shuttering of operations as a competitor began in late July.
The sudden elimination of industry capacities presented challenges for customers and carriers alike. But the transition to other providers it seems to have gone relatively smoothly. At Saia, we monitor our critical service indicators, daily. I was pleased to see that despite the influx of freight in a matter of days, we were able to sustain very-high levels of service. In our view it was critical to maintain high-service levels this time provided, a unique opportunity to show customers, our differentiated service in the midst of industry disruption.