Saia (NASDAQ:SAIA) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Key Points

• Saia beat quarterly earnings expectations: Second-quarter EPS was $3.51, $0.13 above consensus and up from $2.67 a year earlier. Revenue reached a record $956.5 million, increasing 17.1% year over year, while operating income rose 26%.
• Freight demand and pricing improved: Tonnage per workday increased 8.4%, shipments rose 4.4%, and contractual renewals reached 10.7%. Saia also launched service enhancements through Saia REV and reported better-than-normal customer acceptance of its 7.1% rate increase.
• Third-quarter margins face pressure: Management expects roughly 100 basis points of sequential operating-ratio deterioration due to wage increases, fuel and purchased-transportation costs, insurance expenses, and shipment volatility following the rate increase.

Saia (NASDAQ:SAIA - Get Free Report) released its earnings results on Thursday. The transportation company reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.13, Briefing.com reports. Saia had a net margin of 7.84% and a return on equity of 9.60%. During the same quarter last year, the business posted $2.67 earnings per share. The business's revenue for the quarter was up 17.1% compared to the same quarter last year.

Here are the key takeaways from Saia's conference call:

• Positive Sentiment: Saia reported record second-quarter revenue of $956.5 million, up 17.1% year over year, while operating income rose 26% and diluted EPS increased 31.5% to $3.51. The operating ratio improved to 86.9% from 87.8% a year earlier.
• Positive Sentiment: Freight trends improved through the quarter, with shipments per workday up 4.4%, tonnage per workday up 8.4%, and weight per shipment rising for the seventh consecutive month. July month-to-date tonnage was up approximately 7.5%, although shipment growth was about 1% amid some volatility following the July price increase.
• Positive Sentiment: Pricing momentum strengthened, with revenue per shipment excluding fuel surcharge improving about 4% from April to June and contractual renewals reaching 10.7%. Saia said its 7.1% general rate increase implemented in July has received better-than-normal customer acceptance.
• Positive Sentiment: The company launched Saia REV, including more than 2,000 transit-time improvements, automated guaranteed 10:00 a.m. delivery, and enhanced real-time shipment visibility. Management believes these service enhancements should support customer retention and future pricing realization.
• Negative Sentiment: Elevated costs remain a headwind, particularly fuel, purchase transportation, insurance, and labor. Management expects approximately 100 basis points of sequential operating-ratio deterioration in the third quarter, partly reflecting a July wage increase and shipment volatility after the GRI, though this is better than typical seasonal deterioration.

Saia Price Performance

Shares of SAIA traded down $48.84 during mid-day trading on Thursday, reaching $345.60. The company had a trading volume of 758,978 shares, compared to its average volume of 489,038. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $9.22 billion, a P/E ratio of 36.32, a P/E/G ratio of 1.92 and a beta of 2.13. Saia has a twelve month low of $249.32 and a twelve month high of $494.71. The company's 50-day moving average is $441.98 and its 200-day moving average is $406.34.

Key Headlines Impacting Saia

Here are the key news stories impacting Saia this week:

• Positive Sentiment: Saia reported second-quarter diluted EPS of $3.51, above analyst estimates of roughly $3.34–$3.38 and up from $2.67 a year earlier. Revenue rose 17.1% to a record $956.5 million, while operating income increased 26% to $125.2 million. Saia Q2 Earnings Beat Estimates
• Positive Sentiment: Operating execution remained solid: the operating ratio improved to 86.9% from 87.8%, LTL tonnage per workday increased 8.4%, shipments rose 4.4%, and the company achieved a record-low 0.3% claims ratio. Saia also ended the quarter with $84 million of cash and $100.1 million of debt. Saia Reports Second Quarter Results
• Neutral Sentiment: Capital spending is expected to remain substantial at approximately $350 million to $400 million in 2026, although first-half net capital expenditures were lower than in the prior-year period. Saia Second Quarter 2026 Results
• Neutral Sentiment: Recent institutional positioning was mixed, with some large funds reducing holdings while others added shares. Recent analyst price targets also varied widely, indicating continued disagreement about Saia’s earnings outlook.
• Negative Sentiment: Management expects approximately 100 basis points of sequential operating-ratio deterioration in the third quarter. Investors are concerned that a July company-wide wage increase, higher fuel and purchased-transportation costs, and elevated insurance and workers’ compensation expenses will pressure profitability. Saia’s Q3 Margin Guidance Disappoints Investors
• Negative Sentiment: Early July trends were mixed: tonnage was up approximately 7.5% month to date, but shipment growth was only about 1%, with volatility following Saia’s 7.1% general rate increase. This raised concerns about demand and pricing after the strong second quarter. Saia Slides Despite Strong Q2

Institutional Trading of Saia

A number of large investors have recently bought and sold shares of the stock. Fred Alger Management LLC bought a new stake in shares of Saia in the 3rd quarter worth about $2,886,000. Hilton Capital Management LLC lifted its holdings in Saia by 10.5% during the 4th quarter. Hilton Capital Management LLC now owns 6,936 shares of the transportation company's stock valued at $2,265,000 after purchasing an additional 657 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings in Saia by 105.2% during the 2nd quarter. Brevan Howard Capital Management LP now owns 6,306 shares of the transportation company's stock valued at $1,728,000 after purchasing an additional 3,233 shares during the last quarter. Pacer Advisors Inc. boosted its position in Saia by 28.4% in the fourth quarter. Pacer Advisors Inc. now owns 4,518 shares of the transportation company's stock valued at $1,475,000 after buying an additional 999 shares in the last quarter. Finally, Mirabella Financial Services LLP boosted its position in Saia by 112.5% in the third quarter. Mirabella Financial Services LLP now owns 3,914 shares of the transportation company's stock valued at $1,169,000 after buying an additional 2,072 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SAIA shares. Jefferies Financial Group boosted their price objective on Saia from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Wolfe Research raised Saia from a "peer perform" rating to an "outperform" rating in a report on Tuesday, April 7th. Stifel Nicolaus set a $450.00 price target on Saia in a research report on Friday, May 1st. Bank of America upgraded Saia from a "neutral" rating to a "buy" rating and upped their price target for the stock from $499.00 to $502.00 in a report on Monday, July 13th. Finally, Benchmark reissued a "buy" rating on shares of Saia in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $462.72.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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