Saia Reports Second Quarter Results

Core Insights - Saia, Inc. reported a diluted earnings per share of $2.67 for Q2 2025, down from $3.83 in Q2 2024, indicating a decline in profitability [1][14]. Financial Performance - Revenue for Q2 2025 was $817.1 million, a decrease of 0.7% compared to $823.2 million in Q2 2024 [9][14]. - Operating income fell to $99.4 million, representing a 27.8% decrease from $137.6 million in the same quarter last year [9][14]. - The operating ratio increased to 87.8% from 83.3%, indicating higher operational costs relative to revenue [9][16]. - LTL shipments per workday decreased by 2.8%, while LTL tonnage per workday increased by 1.1% [9][16]. - LTL revenue per hundredweight, excluding fuel surcharge revenue, decreased by 1.2%, while LTL revenue per shipment, excluding fuel surcharge revenue, increased by 2.7% [9][16]. Financial Position - As of June 30, 2025, the company had $18.8 million in cash and total debt of $309.1 million, compared to $11.2 million in cash and $176.7 million in debt a year earlier [3][13]. - Net capital expenditures for the first half of 2025 were $375.6 million, down from $681.3 million in the first half of 2024 [4][15]. - The company anticipates net capital expenditures of approximately $600 million to $650 million for the full year 2025, subject to market conditions [4]. Management Commentary - The CEO emphasized the team's focus on customer service and cost management in response to current volume trends, highlighting improvements in operational efficiencies [2]. - The CFO noted that the customer-first approach is yielding results, particularly in newer markets, with facilities opened for less than three years leading in volume and revenue growth [2].