Saia, Inc.

A reminder, today's conference is being recorded. I would now like to turn the call over to Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead.

Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go ahead. Doug Cole, Executive Vice President and Chief Financial Officer. Please go 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.

Good morning, and thank you for joining us to discuss SIA's first quarter results. While underlying macro trends remain lackluster in our view, Our year-over-year results in the first quarter reflected tremendous share gains made since last summer. In the quarter, we averaged approximately 33,000 shipments per day compared to approximately 28,500 per day last year, or an increase of nearly 16%. We've opened seven new locations in the past 12 months, and our employee count has grown significantly, allowing us to staff the new locations and enabling us to handle the growth in volumes while still providing our customers with excellent service. I'm particularly pleased to see all of our key service performance indicators continue to trend positively as we continue our expansion. Our first quarter revenue of $754.8 million increased from last year's first quarter by 14.3%, and is a record for any first quarter in our company's history. Yield, or revenue per hundredweight, excluding fuel surcharge, increased 10.5%, reflecting a constructive pricing backdrop despite a subdued demand environment in a traditionally slower period in our business. Revenue per shipment, excluding fuel surcharge, increased 1.4% despite a headwind from weight per shipment, which was down 8.2% in the quarter, and length of haul also down modestly by 0.4%. Our revenue per shipment growth, ex-fuel surcharge, continues to be the result of positive pricing and effective mix management. With our continuing high service levels, we actively review the performance of all of our accounts and are not shying away from having great discussions when necessary based on profitability, not the calendar. Our first quarter operating ratio of 84.4% improved by 60 basis points compared to our operating ratio of 85% posted in the first quarter last year and matches our best ever Q1 OR posted in 2022. As we continue to absorb the growth in volumes compared to the prior year, we've continued investing in our network to maintain our services while also optimizing how we provide the service with our expanding line haul and driving teams. Our plans to open 15 to 20 terminals in total this year remain, and we'll also continue relocating some existing terminals as we've done with four so far this year. Relocations are an important part of the story as these relocated terminals often offer us multiple benefits including better strategic position in the market and added capacity to better serve existing customers and also perhaps put us in a better position to serve new customers. Our teams are committed to accomplishing this growth with an eye on always putting the customer first. Our customer first initiatives have been the cornerstone of our success over the last several years. Included in that is our desire to have more locations through which to serve new and existing customers. The results of Mastio's latest survey highlight a couple of significant achievements for SIA. The scores highlight our continued improvement and positive feedback from our customers are recognizing SIA's ongoing investment in service and expanding footprint, and customers are viewing us as a leading national LTL provider. We've added 20 new facilities in the last two years with improving perceived levels of service which is critical to note. Customers are recognizing our ability to not only improve service, but to replicate that improved service in new locations. I'll now turn the call over to Doug for more details from our first quarter results.