SAIA
Saia, Inc.339.77
+0.20+0.06%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
100-200bps OR guide emerges
Q&A delivered key forward guidance absent from prepared remarks: 100-200bps OR improvement in 2026 even if macro stays soft, with Q1 poised to beat historical 30-50bps sequential degradation and possibly dip below last year's Q1. Monthly volumes trended up from October's -3.4% shipments to January's -2.1% ex-weather, blamed on weight comps and Texas storm versus peers. Ramping terminals hit mid-upper 90s OR yet added profit, backed by 20-25% excess capacity for scaling. Pricing to outpace inflation stressed; maintenance CapEx at $350-400M, buybacks/dividends in play. Network ready to scale. Watch volume durability, March strength.
Key Stats
Market Cap
9.05BP/E (TTM)
32.14Basic EPS (TTM)
10.57Dividend Yield
0%Recent Filings
8-K
Saia LTL tonnage drops 4.8% QTD
Saia released January-February 2026 LTL data on March 3, showing QTD shipments down 0.9%, tonnage down 4.8%, and weight per shipment off 4.0% versus 2025. January plunged harder—tonnage -7.0%—yet February shipments edged up 0.3%. Contractual renewals held firm at 6.6% and 5.9%. Tonnage weakens steadily.
10-K
FY2025 results
Saia held FY2025 revenue flat at $3.2B versus 2024 while operating income plunged 27% to $352.2M, stung by 6.2% higher salaries/wages (including a 3% October wage hike) and 18.3% steeper depreciation from terminal and equipment investments; LTL tonnage rose 2.1% y/y yet shipments dipped 0.7% as yield excluding fuel surcharges held a slim 1.2% gain from pricing actions. Q4 momentum faltered amid softer volumes and cost pressures, with operating ratio widening to 89.1% from 85.0%. Net capex eased to $544M; revolver drew $63M with $500M+ availability. No annual guidance disclosed. Driver shortages threaten quarterly capacity.
8-K
Saia Q4 revenue record, OR widens
Saia reported Q4 2025 revenue of $790.0 million, up 0.1% year-over-year, but operating ratio widened to 91.9% from 87.1% due to $4.7 million in unexpected prior-year self-insurance reserve increases. Shipments fell 0.5%, tonnage 1.5%, hit by Southern California volume down 18%; yet national network drove record cargo claims ratio of 0.47%. Management eyes 100-200 bps full-year OR improvement in 2026 amid scaling investments.
8-K
Q4 revenue flat, profits tank
Saia reported Q4 2025 revenue of $790M, up 0.1%, but operating income plunged 36.9% to $64M amid a 91.9% operating ratio—hit by $4.7M in surprise self-insurance costs from prior accidents. Full-year revenue rose 0.8% to $3.2B, yet adjusted operating income fell 30%. Debt dropped to $164M. Capex eases to $350M-$400M in 2026.
8-K
Saia Q4 LTL data mixed
Saia released Q4 LTL operating data on December 2, 2025, showing October shipments down 3.4% and tonnage off 3.3% year-over-year, rebounding in November with shipments up 2.6% and tonnage up 1.8%. Quarter-to-date, shipments fell 0.8%, tonnage 1.1%, weight per shipment 0.3%. Data could differ materially. Risks loom large.
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