1 month ago
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Todd Maiden
Thu, July 30, 2026 astatine 11:32 AM CDT 4 min read
Less-than-truckload bearer Saia's shares were disconnected 12% successful midday trading connected Thursday pursuing a better-than-expected second-quarter study that was muted by management's softer third-quarter borderline outlook. The institution has made existent property investments totaling implicit $1 cardinal successful caller years, and its caller locations are inactive moving to adjacent the profitability spread to the remainder of the network.
"Our beardown 2nd 4th results item the continued enhancement of our expanded work offering, disciplined execution and the committedness of our squad members," said Saia CEO Fritz Holzgrefe. "We achieved grounds gross and tonnage, on with a second-quarter grounds successful shipments, reflecting coagulated maturation crossed our network."
The Johns Creek, Georgia-based institution reported second-quarter net per stock of $3.51 connected Thursday earlier the marketplace opened. The effect was 84 cents higher y/y and 12 cents amended than the statement estimate. A little taxation complaint compared to the prior-year 4th was a 2-cent tailwind. A $3 cardinal diminution successful nett involvement disbursal was an 8-cent tailwind.
Revenue was 17% higher y/y astatine 957 million, mostly successful enactment with consensus. Both tonnage and output accrued by 8% y/y. (Yield was down 2% excluding substance surcharges.)
The tonnage summation was driven by a 4% summation successful some shipment counts and shipment weights. Tonnage was up 6.9% y/y successful April, up 8.4% successful May and 9.9% higher successful June. July tonnage was 7.5% higher y/y.
Saia implemented a 7.1% wide complaint summation connected July 6. The summation was 120 bps higher and 3 months earlier than past year's complaint bump. Management said that GRI implementations make immoderate near-term volatility successful shipment counts arsenic shippers measure their options. Looking astatine tonnage connected a two-year-stacked examination to mute the interaction of prior-year results, Saia's tonnage has remained successful a scope of plus-8% to plus-9% implicit the past 3 months.
(Saia's prior-year comps scope from mostly antagonistic to somewhat affirmative for the remainder of the year.)
Management besides explained the 2% y/y output decline, which was a spot of an outlier compared to peers. Higher shipment weights and a little magnitude of haul (down 1% y/y) were headwinds to gross per hundredweight. It said excluding those impacts, and the Los Angeles marketplace wherever shipment counts person been brushed (still down 2.5%), nett output was apt up 3% y/y.
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