Saia(SAIA) - 2025 Q3 - Quarterly Results

Financial Performance - Revenue for Q3 2025 was $839.6 million, a 0.3% decrease compared to Q3 2024[6] - Operating income decreased by 5.2% to $118.6 million, while adjusted operating income fell by 16.8% to $104.1 million[6] - Diluted earnings per share were $3.22, down from $3.46 in Q3 2024; adjusted diluted earnings per share were $2.81[3][6] - Net income for the nine months ended September 30, 2025, was $207,517, down 27.5% from $285,962 in the same period of 2024[26] - Basic earnings per share for Q3 2025 were $3.23, down from $3.47 in Q3 2024, reflecting a decrease of 6.9%[26] Operating Efficiency - Operating ratio increased to 85.9%, with an adjusted operating ratio of 87.6% compared to 85.1% in the previous year[6][19] - The operating ratio for Q3 2025 was 85.9%, compared to 85.1% in Q3 2024, indicating a slight increase in operational efficiency[30] - Operating expenses increased to $721,034 in Q3 2025, compared to $716,932 in Q3 2024, reflecting a rise of 0.2%[26] Cash and Debt Management - Cash on hand at the end of Q3 2025 was $35.5 million, up from $14.4 million in Q3 2024; total debt increased to $219.2 million from $191.0 million[7] - Cash and cash equivalents at the end of Q3 2025 were $35,500, up from $19,473 at the end of Q4 2024[28] - Long-term debt, less current portion, rose to $218,000 in Q3 2025 from $194,981 in Q4 2024, indicating an increase of 11.8%[24] Capital Expenditures - Net capital expenditures for the first nine months of 2025 were $446.1 million, down from $873.2 million in the same period of 2024[8] - The company anticipates net capital expenditures of approximately $550 million to $600 million for 2025, subject to market conditions[8] Operational Metrics - LTL shipments per workday decreased by 1.9%, and LTL tonnage per workday decreased by 1.5%[6] - LTL tonnage decreased by 1.5% to 1,581 in Q3 2025 from 1,605 in Q3 2024[30] Asset Growth - Total assets increased to $3,500,960 as of September 30, 2025, compared to $3,166,857 at the end of 2024, marking a growth of 10.5%[24] Strategic Focus - The company continues to focus on technology investments and network optimization to enhance customer experience and operational efficiency[5] - A gain from the sale of a terminal of $16.4 million was recorded, contributing to an increase in operating income[16]