Saia Q3 revenue hits record $982.5 million on higher pricing
Saia reported record third-quarter revenue of $982.5 million, in line with the $982.35 million consensus estimate, and said its board authorized a $250 million share repurchase program.
Key takeaways
- Saia Inc. (SAIA) reported third-quarter revenue of $982.5 million, in line with the $982.35 million consensus estimate, and said its board authorized a $250 million share repurchase program. The company also said its board appointed Todd Fowler as an independent director.
Saia (SAIA) reported record third-quarter revenue of $982.5 million, up 17.0% from a year earlier. The figure was in line with the $982.35 million consensus estimate.
Here's how the company did:
- Revenue: $982.5 million, up 17.0% from a year earlier
- Diluted earnings per share: $3.41, up 21.4% from adjusted diluted earnings per share of $2.81 a year earlier
- Operating ratio: 87.6%, unchanged from the adjusted figure a year earlier
- Tonnage per workday: up 8.9%
A regulatory filing showed the company’s results were discussed on an earnings call the same day. Saia President and Chief Executive Officer Fritz Holzgrefe said the quarter was “solid,” adding that the results “included record top line revenue and tonnage.”
Operating results
Revenue per shipment, excluding fuel surcharge, rose 5.8% from a year earlier. Shipments per workday increased 0.8%, and tonnage per workday increased 8.9%, the company said.
Fuel surcharge revenue represented 22.5% of total revenue, compared with 15.2% a year ago. Fuel expense rose 55.2% year over year, reflecting a 48.1% increase in the national average diesel price.
Salaries, wages and benefits increased $46.7 million, or 11.6%, from the third quarter of 2025. Executive Vice President and Chief Financial Officer Matt Batteh said the increase primarily reflected wage increases and higher compensation tied to improved company performance.
For the fourth quarter, Batteh said the company expects its operating ratio to improve by more than 200 basis points year over year, based on trends in October.
Cash and capital returns
The company’s board authorized the repurchase of up to $250 million of Saia common stock. The company said the authorization provides an additional way to return capital to stockholders, subject to market conditions and other investment priorities.
Saia generated more than $240 million in free cash flow year to date and ended the quarter with $203 million of cash on hand. Total debt outstanding was $100.0 million.
Board change
The company also said it appointed Todd Fowler as an independent director, a change announced earlier on the day of the filing.