Every material Form 8-K Saia has filed with the SEC since December 11, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Saia reported record third quarter revenue of $982.5 million, up 17.0%, and diluted EPS of $3.41, up 21.4% from adjusted EPS of $2.81 a year earlier. The Board also authorized repurchases of up to $250 million of common stock.
Q3 revenue rose 17.0% to $982.5 million; tonnage per workday up 8.9%, shipments per workday up 0.8%
Diluted EPS of $3.41 versus adjusted $2.81 in Q3 2025; operating ratio 87.6%, unchanged from adjusted prior-year level
Board authorized up to $250 million in share repurchases; ended quarter with $203 million cash and $100.0 million total debt
Management expects Q4 operating ratio improvement of over 200 basis points year over year, based on October trends
Saia reported third quarter 2026 revenue of $982.5 million, up 17.0% from a year earlier, and diluted earnings per share of $3.41 versus $3.22. The company also authorized a $250 million stock repurchase program with no expiration date, and added Todd C. Fowler to its board. Operating ratio rose to 87.6% from 85.9%, and the prior-year quarter included a real estate gain that the company excluded from its adjusted figures.
Operating revenue was $982.5 million, up 17.0% from $839.6 million in the third quarter of 2025.
Diluted EPS was $3.41 versus $3.22; the prior-year figure included a $0.41 per share real estate gain, and adjusted EPS was $2.81.
Operating ratio was 87.6% compared with 85.9% in the third quarter of 2025.
The board authorized repurchases of up to $250 million of common stock; the company is not obligated to buy a set number of shares and may suspend or end the program at any time.
Saia reported second quarter 2026 revenue of $956.5 million, up 17.1% from a year earlier, and operating income of $125.2 million, up 26.0%. Diluted earnings per share were $3.51 compared with $2.67 in the second quarter of 2025, and the operating ratio improved to 86.9% from 87.8%. Shareholders also get a 2026 net capital expenditure outlook of approximately $350 million to $400 million, subject to market conditions.
Revenue of $956.5 million, up 17.1%; operating income of $125.2 million, up 26.0%
Diluted EPS of $3.51 versus $2.67 in Q2 2025
Operating ratio of 86.9% compared with 87.8% a year earlier
Expects 2026 net capital expenditures of approximately $350 million to $400 million; cash of $84.0 million and total debt of $100.1 million at June 30, 2026
Saia reported first quarter 2026 results on April 30, 2026. Revenue rose 2.4% to $806.2 million, but operating income fell 4.8% to $66.8 million and the operating ratio widened to 91.7% from 91.1%. Diluted earnings per share were $1.86, the same as a year earlier, and the company expects 2026 net capital expenditures of $350 million to $400 million.
Revenue was $806.2 million, up 2.4% from the first quarter of 2025.
Operating income was $66.8 million, down 4.8%, and the operating ratio was 91.7% versus 91.1%.
Diluted earnings per share were $1.86 in both the first quarters of 2026 and 2025.
Net capital expenditures were $63.7 million in the first quarter, versus $202.1 million a year earlier; 2026 net capital expenditures are expected to be $350 million to $400 million.
Saia reported fourth quarter 2025 revenue of $790.0 million, up 0.1%, but operating income fell 36.9% to $64.0 million and diluted earnings per share dropped to $1.77 from $2.84. Management attributed about $4.7 million of the quarter's cost increase to unexpected adverse developments on accidents from prior years. For full year 2025, diluted EPS was $9.52 versus $13.51 in 2024, and net capital expenditures are expected to be $350 million to $400 million in 2026.
Q4 2025 diluted EPS was $1.77 versus $2.84 in Q4 2024; operating ratio was 91.9% versus 87.1%
Full year 2025 revenue was $3.2 billion, up 0.8%, while operating income fell 27.0% to $352.2 million
Management cited about $4.7 million in elevated self-insurance costs from accidents in prior years
2026 net capital expenditures are anticipated at approximately $350 million to $400 million, subject to market conditions
Saia reported third quarter 2025 results on October 30, 2025. Revenue was $839.6 million, down 0.3%, and GAAP diluted EPS was $3.22 versus $3.46 a year earlier. Excluding a net real estate gain that added $0.41 to EPS, adjusted diluted EPS was $2.81, and the company expects 2025 net capital expenditures of $550 million to $600 million.
Revenue of $839.6 million, down 0.3% from $842.1 million in Q3 2024
Diluted EPS of $3.22 vs. $3.46; adjusted diluted EPS of $2.81 excluding the net real estate gain
LTL shipments per workday down 1.9%; operating ratio 85.9% vs. 85.1%
2025 net capital expenditures expected at $550 million to $600 million, subject to market conditions
Saia reported second quarter 2025 results on July 25, 2025, with revenue of $817.1 million, down 0.7% from a year earlier, and operating income of $99.4 million, down 27.8%. Diluted earnings per share were $2.67 compared with $3.83 in the second quarter of 2024, and the operating ratio rose to 87.8% from 83.3%, so lower profit reduces earnings for shareholders.
Diluted EPS was $2.67 versus $3.83 in Q2 2024; operating income was $99.4 million versus the prior-year level, down 27.8%
Operating ratio was 87.8% compared with 83.3% a year earlier
LTL shipments per workday fell 2.8%, while LTL tonnage per workday rose 1.1%
Company expects 2025 net capital expenditures of approximately $600 million to $650 million, subject to market conditions
Saia reported first quarter 2025 results on April 25, 2025, with revenue up 4.3% to $787.6 million on higher shipment and tonnage volumes. Operating income fell 40.5% to $70.2 million, and diluted earnings per share dropped to $1.86 from $3.38, as the company cited weaker-than-expected revenue, severe winter weather, and higher labor and depreciation costs tied to its network expansion. Shareholders face lower profitability in the quarter, and the company expects 2025 net capital expenditures of approximately $650 million.
Revenue was $787.6 million, up 4.3% from the first quarter of 2024
Operating income was $70.2 million, down 40.5%; operating ratio rose to 91.1% from 84.4%
Diluted earnings per share were $1.86, compared with $3.38 a year earlier
Net capital expenditures were $202.1 million in the first quarter, with about $650 million expected for 2025
Saia reported fourth quarter 2024 results on February 3, 2025, with revenue up 5.0% but operating income down 9.9% and diluted earnings per share down from $3.33 to $2.84. For the full year, revenue rose 11.4% to $3.2 billion and diluted EPS reached $13.51 versus $13.26 in 2023, while the company said it expects 2025 net capital expenditures to be over $700 million.
Q4 2024 operating ratio was 87.1% compared with 85.0% in Q4 2023.
Full year 2024 operating income was $482.2 million, up 4.7%, and diluted EPS was $13.51.
Net capital expenditures were $1,040.9 million in 2024, and the company anticipates over $700 million in 2025, subject to market conditions.
Year-end 2024 cash was $19.5 million and total debt was $200.3 million, compared with $296.2 million cash and $16.5 million debt at December 31, 2023.
Saia and certain subsidiaries signed Amendment No. 2 to their credit agreement on December 9, 2024. The amendment increases total commitments by $300 million to $600 million, expands the accordion feature to $300 million, and extends the maturity date from February 3, 2028 to December 9, 2029. For shareholders, the filing describes a larger, longer-dated credit facility with revised borrowing costs tied to the company's leverage ratio.
Aggregate commitments rise by $300 million to $600 million.
Accordion feature expands from $150 million to $300 million, subject to conditions and lender commitments.
Maturity extended from February 3, 2028 to December 9, 2029.
Term SOFR loan margin now 1.25% to 2.00%; unused fee now 0.175% to 0.30%, both based on the net lease adjusted leverage ratio.
Saia reported third quarter 2024 results on October 25, 2024, with revenue up 8.6% to $842.1 million. Operating income fell 2.5% to $125.2 million, and diluted earnings per share were $3.46 versus $3.67 a year earlier, so profit measures declined while sales grew. Shareholders also face higher spending, with net capital expenditures of $873.2 million in the first nine months and about $1 billion expected for 2024.
Revenue was $842.1 million, up 8.6% from the third quarter of 2023
Operating income was $125.2 million, down 2.5%; operating ratio was 85.1% versus 83.4%
Diluted EPS was $3.46 versus $3.67; net income was $92.7 million versus $98.2 million
Net capital expenditures are expected to be about $1 billion in 2024; cash on hand was $14.4 million at September 30, 2024
Saia reported second quarter 2024 results with revenue of $823.2 million, up 18.5%, and diluted earnings per share of $3.83, up from $3.42 a year earlier. Operating ratio worsened to 83.3% from 82.7%, and management said it expects net capital expenditures of about $1 billion in 2024.
Operating income was $137.6 million, a 14.4% increase from the second quarter of 2023.
Operating ratio was 83.3%, compared with 82.7% a year earlier.
Net capital expenditures were $681.3 million in the first six months of 2024, and the company expects about $1 billion for the full year.
Cash on hand was $11.2 million and total debt was $176.7 million at June 30, 2024.
Saia appointed Matthew Batteh as Executive Vice President, Chief Financial Officer and Secretary, effective May 13, 2024, succeeding Douglas Col, who previously announced his retirement. Batteh has been with Saia since 2015 and most recently served as Vice President of Finance, so the change is an internal promotion. The filing describes his base salary, incentive targets and equity grant, along with severance and change-of-control terms.
Matthew Batteh, age 35, promoted to CFO effective May 13, 2024, per the 8-K; Douglas Col is retiring after having been CFO since January 2020
Base salary of $435,000; target bonus 75 percent of salary, maximum 150 percent
Restricted stock grant of 1,364 shares, vesting 25 percent in 2027, 25 percent in 2028 and 50 percent in 2029, with immediate vesting on a change of control
Executive Severance Agreement pays two times highest 12-month compensation if terminated within two years after a change of control
Saia's Executive Vice President and Chief Financial Officer, Douglas Col, plans to retire after 10 years with the company, including the last four as CFO. He will remain in the role until a successor is named and will stay on as an advisor through year-end to support the transition. The change is a senior finance leadership transition, though the filing contains no financial results or new guidance.
Douglas Col informed Saia of his retirement plans on April 23, 2024, after 10 years of service
Col will continue as CFO until the company names a successor and will serve as an advisor through year-end
Company announced the retirement in a press release dated April 26, 2024 (Exhibit 99.1)
Saia reported first quarter 2024 results with revenue up 14.3% to $754.8 million, operating income up 18.9% to $117.9 million, and diluted earnings per share of $3.38 versus $2.85 a year earlier. Management said winter weather hurt volumes and late-quarter shipments were below its expectations, and it expects net capital expenditures of about $1 billion in 2024, which shareholders should weigh against the company's rising debt and lower cash balance.
Revenue was $754.8 million, up 14.3%; operating income was $117.9 million, up 18.9%
Operating ratio improved to 84.4% from 85.0%; LTL shipments per workday rose 15.7%
Net capital expenditures were $456.8 million in the first quarter, and 2024 net capital expenditures are expected to be about $1 billion
Cash on hand was $12.3 million and total debt was $84.1 million at March 31, 2024, versus $166.4 million and $26.5 million a year earlier
Saia reported fourth quarter 2023 revenue of $751.1 million, up 14.5%, and diluted EPS of $3.33 versus $2.65 a year earlier. For the full year, diluted EPS fell to $13.26 from $13.40 even as revenue rose 3.2% to $2.9 billion, and the company expects 2024 net capital expenditures of approximately $1 billion.
Q4 2023 operating income was $112.7 million, up 21.5%, and operating ratio improved to 85.0% from 85.9%
Full-year 2023 operating income was $460.5 million, down 2.1%, and operating ratio rose to 84.0% from 83.1%
Cash on hand was $296.2 million at December 31, 2023, with total debt of $16.5 million
2024 net capital expenditures are expected to be approximately $1 billion, subject to market conditions
Saia's subsidiary agreed on December 5, 2023 to buy real property interests in 17 freight terminals from Yellow Corporation and its subsidiaries for $235.7 million, as part of Yellow's Chapter 11 asset sale. The deal requires Bankruptcy Court approval and regulatory clearances, and is expected to close in the first quarter of 2024, which would add Yellow's former terminal network to Saia's footprint.
Purchase price is $235.7 million, subject to normal closing adjustments and assumed liabilities
A $11.8 million earnest money cash deposit has been made and will be applied to the price at closing
Bankruptcy Court hearing to consider approval is anticipated on December 12, 2023
Closing expected in Q1 2024 using cash on hand and credit facility availability; either party may terminate if not closed by February 6, 2024
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