Here are the 10-Q quarterly reports from Saia, Inc. (SAIA) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SAIA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SAIA filings page.
Saia, Inc. reported third-quarter 2026 operating revenue of $982.454 million, up 17.0% from a year earlier, and net income of $91.445 million versus $86.316 million. Diluted earnings per share were $3.41 versus $3.22. Revenue growth reflected higher fuel surcharge revenue, an 8.1% increase in LTL pounds per shipment and a 5.8% increase in LTL revenue per shipment excluding fuel surcharges. Operating income was $122.291 million versus $118.610 million; operating ratio was 87.6% versus 85.9%. The 2025 quarter included a $16.4 million real estate gain and a $1.9 million real estate impairment loss; adjusted operating ratio was 87.6% in both periods.
For the first nine months, operating revenue was $2.7 billion, up 12.3%, operating income was $314.309 million, up 9.1%, and operating cash flow was $480.755 million versus $457.665 million. Saia anticipated 2026 net capital expenditures of approximately $350 million, subject to ongoing evaluation of market conditions. On October 29, 2026, its board approved a stock repurchase program of up to $250 million, effective immediately; it has no expiration date and does not require Saia to repurchase shares.
Saia, Inc. reported strong Q2 2026 results, with operating revenue up 17.1% to $956.5 million, driven by higher fuel surcharge revenue, a 4.4% increase in LTL shipments and 8.4% higher LTL tonnage. LTL revenue per shipment rose 12.0% to $393.56 and, excluding fuel surcharges, 1.5% to $303.12. Operating income increased to $125.2 million, improving the operating ratio to 86.9% from 87.8%.
Net income grew to $94.3 million, or $3.51 per diluted share, versus $71.4 million and $2.67 a year earlier; for the first half of 2026, net income was $144.1 million and diluted EPS $5.37. Saia generated $291.2 million of operating cash flow against $158.0 million of capital expenditures, ended the quarter with working capital of $216.7 million, $564.0 million of undrawn revolver capacity and $100.0 million of senior notes outstanding. Management notes higher wage, health-benefit, fuel and purchased transportation costs, ongoing network and technology investment, and increased litigation and insurance-related risks.
Saia, Inc. reported modest top-line growth but essentially flat profitability for the quarter ended March 31, 2026. Operating revenue rose 2.4% to $806.2 million, driven mainly by higher diesel prices that lifted fuel surcharge revenue. LTL shipments grew 1.0% while tonnage fell 2.1%, reflecting lighter, shorter-haul freight.
Operating income declined to $66.8 million from $70.2 million as higher self-insurance, purchased transportation, fuel and depreciation pushed the operating ratio to 91.7%, up from 91.1%. Net income was $49.9 million, or $1.86 per diluted share, unchanged from the prior year period.
Cash generation was strong: net cash provided by operating activities increased to $139.6 million versus $109.1 million, while net capital expenditures fell sharply to $63.7 million from $202.1 million. Total debt decreased to $112.8 million, and Saia ended the quarter with $39.2 million in cash and $551.6 million of availability under its $600 million revolving credit facility.
Saia, Inc. reported third-quarter 2025 results with operating revenue of $839.6 million, essentially flat versus $842.1 million a year ago. Operating income was $118.6 million, which includes a $16.4 million real estate gain and a $1.9 million impairment for a net $14.5 million benefit. Adjusted operating income was $104.1 million. Diluted EPS was $3.22.
The operating ratio was 85.9%, or 87.6% on an adjusted basis, compared to 85.1% last year. LTL shipments per workday fell 1.9% and tonnage declined 1.5%, while LTL revenue per shipment excluding fuel rose 0.3% to $294.35 as pricing and mix offset softer volumes. YTD cash from operations reached $457.7 million, supporting $446.1 million of net capital expenditures focused on terminals, equipment, and technology.
At September 30, 2025, total debt was $219.2 million, including $118.0 million outstanding on the $600 million revolver and $100.0 million of 6.09% notes due 2029, with $445.6 million of revolver availability. There were 26,642,641 common shares outstanding at October 28, 2025.