Saia’s operating ratio falters in Q4

Group 1 - Saia has invested over $2 billion in the last three years to expand its network, resulting in a nationwide network that has been fully operational for one year, with parts of the network achieving operating ratios (ORs) in the upper 70% range [3][6] - The company's core business operations met expectations for the quarter, although elevated self-insurance costs from prior accidents amounted to approximately $4.7 million [4] - Many new terminals opened by Saia have operating ratios in the mid to upper 90s, indicating challenges in achieving operational efficiency [4][5] Group 2 - The operating ratio for Saia worsened to 91.9% in Q4 2025, which is less favorable than the typical Q1 profitability levels, with annual operating income at $337 million representing a 30% decrease [7] - Despite current challenges, Saia plans to grow its terminal network to 230 facilities and aims to achieve an overall operating ratio in the 70% range [7]