SAIA earnings analysis
What we found in SAIA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Saia, Inc. reported Q1 2026 results with revenue of $806.2 million, surpassing estimates of $788.3 million. EPS also matched analyst expectations at $1.86, reflecting stable financial performance despite a slight drop in operating income. The company anticipates capital expenditures of $350 million to $400 million for the year, focusing on growth and efficiency improvements.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Beat Estimates
- Q1 2026 revenue reached $806.2 million, exceeding the consensus estimate of $788.3 million.
- EPS Matches Expectations
- Saia reported Q1 2026 diluted EPS of $1.86, consistent with consensus estimates.
- Increase in Operating Cash Flow
- Operating cash flows improved to $139.6 million from $109.1 million in Q1 2025.
- Operating Revenue Growth
- Operating revenue grew 2.4% year-over-year for Q1 2026, driven by higher fuel surcharge revenue.
- Improved Revenue per Shipment
- LTL revenue per shipment increased 0.7% year-over-year to $357.93.
- Increase in Working Capital
- Working capital rose to $170.9 million at March 31, 2026, up from $141.9 million a year earlier.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decrease in Operating Income
- Operating income fell 4.8% to $66.8 million in Q1 2026, down from $70.2 million in Q1 2025.
- Higher Operating Ratio
- The operating ratio increased to 91.7% in Q1 2026 from 91.1% in Q1 2025, indicating rising costs.
- Decrease in LTL Tonnage
- LTL tonnage dropped 2.1% year-over-year to 1.5 million tons in Q1 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.86
- Operating margin
- 8.3%
What they said about what is next.
Anticipated capital expenditures for 2026 between $350 million and $400 million.
The filing reads better than the one before it.
What came before.
- 10-K · February 24, 2026
- Saia emphasizes growth through network density, terminal expansion and technology, having invested in excess of $2.5 billion in capital expenditures over the past five years and operating 213 terminals as of December…
- 10-Q · October 30, 2025
- Saia reported third-quarter operating revenue of $839.644 million, essentially flat year-over-year (-0.3%) while GAAP diluted EPS declined to $3.22 (adjusted diluted EPS $2.81). Operating income fell to $118.610 million…
- 10-K · February 24, 2025
- Saia describes a growth strategy built on expanding its LTL network density and geographic footprint, investing in terminals, equipment and technology, and pursuing selective tuck‑in acquisitions. In 2024 Saia grew…
- 10-Q · October 25, 2024
- Saia's Q3 2024 results show revenue growth but declining EPS amid rising operational costs. Total revenue increased by 8.6% year-over-year to $842.1 million, with a diluted EPS of $3.46, down from $3.67 in the prior…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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