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

Saia (NASDAQ:SAIA) posted its quarterly earnings results on Thursday. The transportation company reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.13, Briefing.com reports. The firm had revenue of $956.49 million during the quarter, compared to analysts’ expectations of $956.20 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.67 earnings per share.

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 Stock Performance

NASDAQ:SAIA opened at $350.63 on Friday. The firm’s fifty day simple moving average is $439.83 and its 200 day simple moving average is $406.22. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. Saia has a twelve month low of $249.32 and a twelve month high of $494.71. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.85 and a beta of 2.13.

Institutional Investors Weigh In On Saia

Several institutional investors and hedge funds have recently modified their holdings of SAIA. Quarry LP lifted its holdings in Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company’s stock worth $28,000 after buying an additional 84 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Saia in the fourth quarter worth $36,000. Danske Bank A S acquired a new stake in Saia in the third quarter valued at $60,000. Advisory Services Network LLC bought a new position in shares of Saia during the third quarter worth about $60,000. Finally, Empowered Funds LLC acquired a new position in Saia in the fourth quarter worth about $71,000.

Key Stories Impacting Saia

Here are the key news stories impacting Saia this week:

• Positive Sentiment: Saia reported second-quarter diluted EPS of $3.51, above estimates of approximately $3.34–$3.38 and up from $2.67 a year earlier. Revenue increased 17.1% to a record $956.5 million, while operating income rose 26% to $125.2 million. Saia Reports Second Quarter Results
• Positive Sentiment: Operating performance improved, with the operating ratio declining 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 Reports Second Quarter 2026 Results
• Positive Sentiment: Saia ended the quarter with $84 million in cash and $100.1 million of debt, a substantial improvement in liquidity compared with the prior year. First-half net capital expenditures also fell to $158 million from $375.6 million. Saia Q2 Earnings Snapshot
• Neutral Sentiment: Management expects 2026 net capital expenditures of approximately $350 million to $400 million as it continues expanding and integrating its service network.
• Negative Sentiment: Management indicated that the third-quarter operating ratio could deteriorate by roughly 100 basis points sequentially. Investors viewed the outlook as disappointing because it implies softer near-term profitability despite the second-quarter beat. Saia’s Q3 Margin Guidance Disappoints Investors
• Negative Sentiment: Cost pressures are expected from a July company-wide wage increase, higher diesel and purchased-transportation expenses, and elevated insurance and workers’ compensation costs. July tonnage was reportedly up about 7.5% month to date, but shipment growth was only around 1%, suggesting mixed demand and possible friction following Saia’s 7.1% general rate increase.
• Negative Sentiment: Excluding fuel surcharges, second-quarter LTL revenue per hundredweight declined 2.2%, pointing to pricing or mix pressure that could weigh on margins if costs continue rising. Saia Outlines Q3 Operating-Ratio Outlook

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Raymond James Financial lowered their price target on shares of Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, April 7th. Evercore raised shares of Saia from an “in-line” rating to an “outperform” rating in a research note on Wednesday, July 1st. Morgan Stanley upped their target price on shares of Saia from $265.00 to $295.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Stephens upgraded shares of Saia to a “strong-buy” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $460.33.

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.