Saia revenue hits record $982.5 million on higher per-shipment rates

Saia, Inc. (SAIA) said on Oct. 29, 2026 that third-quarter revenue rose 17.0% to a record $982.5 million. The company also said its board authorized a $250 million stock repurchase program, effective immediately.

The Johns Creek, Georgia, company offers less-than-truckload, brokered truckload and expedited transportation services. It operates 219 terminals with national service, according to its release.

Here's how the company did:

• Adjusted diluted EPS: $3.41 vs. $2.81 a year earlier, above the $3.37 consensus estimate compiled by Finnhub
• Revenue: $982.45 million vs. $839.64 million a year earlier, in line with the $982.35 million consensus estimate compiled by Finnhub
• Operating income: $122.3 million vs. $118.6 million a year earlier

Operating ratio was 87.6%, compared with 85.9% in the third quarter of 2025, or 87.6% on an adjusted basis in the prior-year period, according to the release.

Operating measures

LTL tonnage per workday was a record and rose 8.9%. LTL shipments per workday increased 0.8%.

LTL revenue per shipment, excluding fuel surcharge revenue, increased 5.8%. The company said the gain reflected continued progress in pricing and mix optimization.

“Our team delivered solid third quarter performance, which included record revenue and tonnage per workday,” said President and CEO Fritz Holzgrefe.

Stock repurchase program

The program permits repurchases from time to time at management’s discretion, including through a 10b5-1 trading plan and open market purchases. It has no expiration date and does not obligate the company to buy a specified number of shares.

The company said repurchases will depend on market conditions and other factors. The board may suspend, modify or terminate the program at any time without prior notice.

Capital spending and cash

Saia ended the quarter with $202.5 million of cash on hand and $100.0 million of total debt. A year earlier it had $35.5 million of cash and $219.2 million of debt.

Net capital expenditures were $235.9 million in the first nine months of 2026, compared with $446.1 million a year earlier. For full-year 2026, the company expects net capital expenditures of approximately $350 million, subject to ongoing evaluation of market conditions.

In a separate filing, the company said Todd C. Fowler joined its board, expanding it from ten to eleven directors, effective immediately. He will serve on the Audit Committee until the 2027 annual meeting.