Financial Performance - Operating revenue for Q1 2025 was $787,575, an increase of 4.4% compared to $754,775 in Q1 2024[11] - Net income for Q1 2025 was $49,810, a decrease of 45.1% from $90,695 in Q1 2024[11] - Basic earnings per share for Q1 2025 was $1.86, down from $3.40 in Q1 2024, reflecting a decline of 45.4%[11] - Revenue for the first quarter of 2025 was $787,575,000, an increase of 4.4% compared to $754,775,000 in the first quarter of 2024[29] - Segment and consolidated net income for the first quarter of 2025 was $49,810,000, a decrease of 45.0% from $90,695,000 in the first quarter of 2024[29] - Basic earnings per share for the first quarter of 2025 was $1.86, down from $3.40 in the first quarter of 2024[31] - Diluted earnings per share decreased to $1.86 in Q1 2025 from $3.38 in Q1 2024, reflecting lower than expected revenues and increased operating expenses[51][63] - Consolidated operating income fell by 40.5% to $70.2 million in Q1 2025 from $117.9 million in Q1 2024, with an operating ratio of 91.1% compared to 84.4% in the prior year[50][60] Assets and Liabilities - Total current assets increased to $469,604 in Q1 2025 from $435,769 in Q4 2024, representing an increase of 7.8%[9] - Total assets rose to $3,365,221 in Q1 2025, up from $3,166,857 in Q4 2024, marking a growth of 6.3%[9] - Total liabilities increased to $1,004,794 in Q1 2025 from $855,586 in Q4 2024, an increase of 17.4%[9] - Long-term debt, less current portion, increased to $291,758 in Q1 2025 from $194,981 in Q4 2024, a rise of 49.5%[9] - Total debt as of March 31, 2025, was $295,527,000, compared to $200,294,000 as of December 31, 2024[34] - The company had outstanding borrowings of $191,000,000 under the Revolving Credit Facility as of March 31, 2025, up from $94,000,000 as of December 31, 2024[36] Cash Flow and Investments - Net cash provided by operating activities was $109,073 in Q1 2025, slightly up from $106,468 in Q1 2024[17] - The company generated $109.1 million in net cash from operating activities in Q1 2025, slightly up from $106.5 million in the same period last year[52] - Operating cash flows for Q1 2025 were $109.1 million, up from $106.5 million in Q1 2024, driven by changes in operating assets and liabilities[72] - Net cash used in investing activities decreased by $249.7 million to $202.1 million in Q1 2025, compared to $451.8 million in the same period last year[72] - The company anticipates net capital expenditures of approximately $650 million for 2025, with $206.6 million already committed as of March 31, 2025[74] Operational Metrics - LTL shipments per workday rose by 4.6%, with LTL tonnage increasing by 11.0% to 1.5 million tons and LTL shipments up by 2.9% to 2.2 million shipments in Q1 2025[49][58] - Salaries, wages, and employee benefits increased by 13.9% to $389.3 million in Q1 2025, primarily due to a company-wide wage increase and increased headcount[57][61] Debt and Financing - The company entered into a $350 million uncommitted Private Shelf Agreement on November 9, 2023, allowing for the issuance of senior notes[37] - The company issued senior promissory notes in an aggregate principal amount of $100 million on May 1, 2024, under the Private Shelf Agreement, bearing interest at 6.09% per annum[38] - The company was in compliance with its debt covenants under the Revolving Credit Facility and the Private Shelf Agreement as of March 31, 2025[35][40] - The Revolving Credit Facility was amended to increase commitments by $300 million to a total of $600 million, with a maturity date extended to December 9, 2029[75] - As of March 31, 2025, the company had outstanding borrowings of $191.0 million and letters of credit of $32.2 million under the Revolving Credit Facility[76] Market and Economic Outlook - The company anticipates potential risks including economic downturns, labor relations, and supply chain disruptions that could impact future performance[45] - The outlook remains dependent on external factors such as U.S. economic conditions, inflation, and regulatory changes, with potential impacts on demand for services[64] - U.S. trade policy changes, including a 10% baseline tariff on product imports effective April 2, 2025, may adversely impact the company's operations and financial condition[100] - The company continues to face uncertainty and volatility in financial markets due to trade restrictions and potential retaliatory actions from foreign governments[100] Shareholder Activity - During the period from February 1, 2025, to February 28, 2025, the company purchased 1,870 shares at an average price of $455.82[101] - In March 2025, the company purchased an additional 440 shares at an average price of $352.17[101] - The total number of shares purchased from January 1, 2025, to March 31, 2025, amounted to 2,310 shares[101] - No sales of Saia stock occurred during the periods of January 1, 2025, through March 31, 2025, under the Executive Capital Accumulation Plan[104] - The company has not adopted or terminated any trading plans intended to satisfy Rule 10b5-1(c) during the three months ended March 31, 2025[102] Other Financial Information - The financial information for the quarter ended March 31, 2025, includes condensed consolidated balance sheets and statements of operations, cash flows, and stockholders' equity[105] - The company has accrued approximately $3.3 million for uncertain tax positions and $93.7 million for claims and insurance liabilities as of March 31, 2025[84]

Financial Data and Key Metrics Changes - The first quarter revenue reached $787.6 million, an increase of 4.3% compared to the same quarter last year [5][11] - The operating ratio for the first quarter was 91.1%, deteriorating by 670 basis points from 84.4% in the previous year [9][16] - Diluted earnings per share were $1.86, down from $3.38 in the first quarter of the previous year [17] Business Line Data and Key Metrics Changes - Tonnage increased by 11%, driven by a 2.9% increase in shipments and a 7.8% increase in average weight per shipment [12] - Revenue per shipment, excluding fuel surcharge, increased by 2.3% to $300.76 compared to $293.96 in the first quarter of the previous year [11] - Yield excluding fuel surcharge declined by 5.1%, while yield including fuel surcharge decreased by 5.8% [11] Market Data and Key Metrics Changes - Newer markets contributed significantly to growth, with the majority of shipment growth coming from facilities opened in the last three years [18] - Legacy facilities experienced a slight decline in shipments from February to March, contrasting with the expected seasonal increase [6][7] Company Strategy and Development Direction - The company plans to focus on execution and leveraging investments made in the network over the past few years [5] - Management emphasized the importance of maintaining service levels and optimizing pricing and mix to adapt to the current macroeconomic environment [10][19] Management Comments on Operating Environment and Future Outlook - Management noted that customers are cautious and adopting a wait-and-see approach due to the uncertain macro environment [8][19] - Despite challenges, management remains confident in the long-term growth opportunities and the value proposition of the company [19] Other Important Information - The company opened 21 new terminals in the past year, which are expected to enhance service offerings and operational efficiencies over time [18] - Adverse weather conditions in the first quarter led to significant operational disruptions, impacting key markets such as Atlanta, Dallas, and Houston [8][16] Q&A Session Summary Question: What is the current pricing environment? - Management indicated that while there is pressure on yield metrics due to weight per shipment, they remain focused on pricing and believe the environment is consistent with past experiences [22][25] Question: What are the drivers affecting revenue per shipment? - The majority of growth is coming from newer markets, which have different pricing dynamics compared to legacy markets, affecting overall revenue per shipment [27][28] Question: How does the company plan to manage costs in a slower demand backdrop? - Management is actively looking at cost actions and network optimization to align resources with available freight [41][42] Question: What is the visibility on volume and customer sentiment? - Management noted that customer sentiment is cautious, with a wait-and-see approach impacting volume forecasts [46][48] Question: What are the year-over-year trends in legacy terminals? - Shipments in legacy markets were down year-over-year, reflecting broader macroeconomic trends [53] Question: How does the company interpret realized pricing versus contractual renewals? - Management clarified that while contractual renewals show strong metrics, actual realization may differ due to customer options and market conditions [65]

Core Viewpoint - Saia reported a revenue of $787.58 million for the quarter ended March 2025, reflecting a year-over-year increase of 4.3%, but fell short of the Zacks Consensus Estimate of $810.08 million, resulting in a revenue surprise of -2.78% [1] - The company's EPS was $1.86, significantly lower than the $3.38 reported in the same quarter last year, leading to an EPS surprise of -32.85% against the consensus estimate of $2.77 [1] Financial Performance Metrics - Operating Ratio was reported at 91.1%, which is higher than the five-analyst average estimate of 87.6% [4] - LTL (Less-Than-Truckload) Shipments totaled 2,170, slightly below the three-analyst average estimate of 2,219 [4] - LTL Revenue Per Hundredweight (CWT) was $24.97, exceeding the three-analyst average estimate of $24.75 [4] - LTL pounds per shipment were 1,424, surpassing the three-analyst average estimate of 1,405 [4] - LTL Tonnage was reported at 1,545 KTon, compared to the three-analyst average estimate of 1,558.55 KTon [4] - LTL revenue per CWT, excluding fuel surcharge, was $21.12, lower than the average estimate of $21.50 [4] - LTL revenue per shipment, excluding fuel surcharge, was $300.76, compared to the average estimate of $302.52 [4] - LTL revenue per shipment was $355.48, slightly above the two-analyst average estimate of $353.03 [4] Stock Performance - Saia's shares have returned -5.8% over the past month, compared to a -4.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Saia reported quarterly earnings of $1.86 per share, missing the Zacks Consensus Estimate of $2.77 per share, and down from $3.38 per share a year ago, indicating a significant earnings surprise of -32.85% [1][2] Financial Performance - The company posted revenues of $787.58 million for the quarter ended March 2025, which was 2.78% below the Zacks Consensus Estimate, but an increase from $754.78 million year-over-year [2] - Over the last four quarters, Saia has surpassed consensus EPS estimates only once, while it has topped consensus revenue estimates three times [2] Stock Performance - Saia shares have declined approximately 22.3% since the beginning of the year, contrasting with the S&P 500's decline of -6.8% [3] - The current consensus EPS estimate for the upcoming quarter is $3.92 on revenues of $874.37 million, and for the current fiscal year, it is $14.82 on revenues of $3.47 billion [7] Industry Outlook - The Transportation - Truck industry, to which Saia belongs, is currently ranked in the bottom 8% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Saia's stock performance [5][6]

Revenue and Earnings - Revenue for Q1 2025 was $787.6 million, a 4.3% increase compared to $754.8 million in Q1 2024[7] - Diluted earnings per share for Q1 2025 were $1.86, compared to $3.38 in Q1 2024[3] Operating Performance - Operating income decreased by 40.5% to $70.2 million from $117.9 million in the same quarter last year[7] - The operating ratio increased to 91.1% from 84.4% year-over-year[7] - Operating ratio increased to 91.1% in Q1 2025 from 84.4% in Q1 2024[26] Shipment and Tonnage - LTL shipments per workday increased by 4.6%, while LTL tonnage per workday rose by 12.7%[7] - The company experienced shipment growth of 4.6% for the full quarter, driven by terminals opened in the past three years[5] - LTL tonnage rose by 11.0% to 1,545 thousand in Q1 2025 compared to 1,392 thousand in Q1 2024[26] - LTL shipments increased by 2.9% to 2,170 thousand in Q1 2025 from 2,108 thousand in Q1 2024[26] Revenue Metrics - LTL revenue per hundredweight (cwt.) decreased by 5.8% to $24.97 in Q1 2025 from $26.51 in Q1 2024[26] - LTL revenue per shipment increased by 1.5% to $355.48 in Q1 2025 compared to $350.18 in Q1 2024[26] Shipment Characteristics - LTL pounds per shipment increased by 7.8% to 1,424 in Q1 2025 from 1,321 in Q1 2024[26] - LTL length of haul increased by 1.9% to 905 miles in Q1 2025 compared to 888 miles in Q1 2024[26] Financial Position - Cash on hand at the end of Q1 2025 was $16.5 million, up from $12.3 million at the end of Q1 2024[9] - Total debt increased to $295.5 million from $84.1 million year-over-year[9] - Net capital expenditures for Q1 2025 were $202.1 million, down from $456.8 million in Q1 2024[10] - The company anticipates net capital expenditures of approximately $650 million for the full year 2025[10]

Core Insights - Saia, Inc. reported a decline in diluted earnings per share to $1.86 for Q1 2025, down from $3.38 in Q1 2024, reflecting challenges in the macroeconomic environment and adverse weather conditions [1][14]. Financial Performance - Operating revenue for Q1 2025 was $787.6 million, a 4.3% increase from $754.8 million in Q1 2024 [7]. - Operating income decreased significantly by 40.5% to $70.2 million compared to $117.9 million in the same quarter last year [7]. - The operating ratio worsened to 91.1% from 84.4% year-over-year [7][16]. - Net income for Q1 2025 was $49.8 million, down from $90.7 million in Q1 2024 [14]. Operational Highlights - LTL shipments per workday increased by 4.6%, while LTL tonnage per workday rose by 12.7% [7][16]. - LTL revenue per hundredweight, excluding fuel surcharge revenue, decreased by 5.1%, while LTL revenue per shipment, excluding fuel surcharge revenue, increased by 2.3% [7][16]. Challenges and Outlook - The company faced an uncertain macroeconomic environment, leading to flat shipment growth in March compared to February [2]. - Adverse weather conditions in the southern U.S. impacted operations in key regions [2]. - Despite these challenges, the company remains focused on customer service and support as it navigates through 2025 [3]. Financial Position and Capital Expenditures - As of March 31, 2025, the company had $16.5 million in cash and total debt of $295.5 million, compared to $12.3 million in cash and $84.1 million in debt a year earlier [4]. - Net capital expenditures for Q1 2025 were $202.1 million, down from $456.8 million in the same period of 2024, with an anticipated total of approximately $650 million for the year [5].

Group 1 - Saia, Inc. (NASDAQ: SAIA) is expected to show improved performance in Q1 2025, demonstrating resilience amid market uncertainty [1] - The company has experienced a notable decrease in cash reserves due to high capital expenditures (capex) [1] Group 2 - The analyst has been involved in the logistics sector for nearly two decades and has a decade of experience in stock investing and macroeconomic analysis [1] - The focus of the analyst includes ASEAN and NYSE/NASDAQ stocks, particularly in banks, telecommunications, logistics, and hotels [1] - The analyst has diversified investments across different industries and market cap sizes, including holdings for retirement and trading profits [1]

Group 1 - Wall Street analysts expect Saia (SAIA) to report quarterly earnings of $2.77 per share, reflecting a year-over-year decline of 18.1% [1] - Revenues are anticipated to be $810.08 million, which represents a 7.3% increase from the same quarter last year [1] - There has been a downward revision of 7.6% in the consensus EPS estimate over the past 30 days, indicating a collective reassessment by analysts [1] Group 2 - Analysts estimate an 'Operating Ratio' of 87.6%, compared to 84.4% from the previous year [4] - The projected 'LTL (Less-Than-Truckload) Revenue Per Hundredweight (CWT)' is expected to be $24.75, down from $26.51 in the same quarter last year [4] - The average prediction for 'LTL (Less-Than-Truckload) Tonnage' is 1,558.55 KTon, an increase from 1,392 KTon a year ago [5] Group 3 - The consensus for 'Fuel, operating expenses and supplies' is projected to reach $159.09 million, slightly up from $156.33 million reported in the same quarter last year [5] - Saia shares have shown a return of -14.4% over the past month, compared to a -8.9% change in the Zacks S&P 500 composite [5] - Saia holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [5]

Company Overview - Saia is expected to report quarterly earnings of $2.77 per share, reflecting a year-over-year decline of 18.1% [3] - Revenue is anticipated to be $810.08 million, which is a 7.3% increase from the previous year [3] - The earnings report is scheduled for April 25, 2025, and actual results will significantly influence the stock price [2] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 7.55% over the last 30 days, indicating a bearish sentiment among analysts [4] - The Most Accurate Estimate for Saia is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.01% [10] - Saia currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [11] Earnings Surprise History - In the last reported quarter, Saia had an earnings surprise of +1.79%, with actual earnings of $2.84 per share compared to an expected $2.79 [12] - Over the past four quarters, Saia has only beaten consensus EPS estimates once [13] Industry Context - In the Zacks Transportation - Truck industry, Knight-Swift Transportation Holdings is expected to post earnings of $0.25 per share, showing a year-over-year increase of 108.3% [17] - Knight-Swift's revenue is projected to be $1.81 billion, down 0.9% from the previous year [17] - The consensus EPS estimate for Knight-Swift has been revised down by 12.5% over the last 30 days, resulting in an Earnings ESP of -2.25% and a Zacks Rank of 4 [18]

Core Viewpoint - Saia, Inc. is set to release its quarterly financial results on April 25, 2025, before market opening, followed by a conference call to discuss the results at 10:00 a.m. Eastern Time [1]. Company Information - Saia, Inc. (NASDAQ:SAIA) is a prominent transportation provider specializing in less-than-truckload (LTL), non-asset truckload, expedited, and logistics services [3]. - The company operates 213 terminals across the nation, headquartered in Georgia, providing extensive national service [3]. Conference Call Details - Participants can join the conference call by dialing 1-877-317-6789 and should connect five to ten minutes prior to the start [2]. - The call will be available for live webcast on the company's website and a replay will be accessible two hours post-call until May 25, 2025 [2].