$SAIA

SAIA INC

CIK:0001177702|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Operating Revenue	$ 956,494	$ 817,115	$ 1,762,720	$ 1,604,690
Operating Expenses:
Salaries, wages and employees' benefits	434,385	390,975	827,681	780,231
Purchased transportation	84,980	57,699	149,308	117,548
Fuel, operating expenses and supplies	198,743	161,634	372,232	328,305
Operating taxes and licenses	22,438	22,014	44,670	42,451
Claims and insurance	24,409	22,826	47,311	44,371
Depreciation and amortization	64,181	62,546	126,371	121,589
Other operating losses, net	2,146	22	3,129	628
Total operating expenses	831,282	717,716	1,570,702	1,435,123
Operating Income	125,212	99,399	192,018	169,567
Nonoperating (Income) Expenses:
Interest expense	2,048	4,742	4,622	9,027
Interest income	(317)	(34)	(380)	(73)
Other, net	(1,994)	(873)	(2,734)	(516)
Nonoperating (income) expenses, net	(263)	3,835	1,508	8,438
Income Before Income Taxes	125,475	95,564	190,510	161,129
Income Tax Provision	31,215	24,173	46,381	39,928
Net Income	$ 94,260	$ 71,391	$ 144,129	$ 121,201
Weighted average common shares outstanding - basic	26,779	26,739	26,771	26,730
Weighted average common shares outstanding - diluted	26,833	26,785	26,822	26,782
Basic Earnings Per Share	$ 3.52	$ 2.67	$ 5.38	$ 4.53
Diluted Earnings Per Share	$ 3.51	$ 2.67	$ 5.37	$ 4.53

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net income	$ 144,129	$ 121,201
Noncash items included in net income:
Depreciation and amortization	126,371	121,589
Deferred income taxes	15,161	17,474
Other, net	16,490	13,216
Changes in operating assets and liabilities:
Accounts receivable	(96,273)	(27,886)
Accounts payable	19,919	10,996
Change in other assets and liabilities, net	65,434	23,225
Net cash provided by operating activities	291,231	279,815
Investing Activities:
Acquisition of property and equipment	(161,063)	(377,540)
Proceeds from disposal of property and equipment	3,041	1,967
Other	0	(8,394)
Net cash used in investing activities	(158,022)	(383,967)
Financing Activities:
Repayments of revolving credit facility	(312,000)	(633,000)
Borrowings of revolving credit facility	249,000	746,000
Proceeds from stock option exercises	427	2,463
Shares withheld for taxes	(5,486)	(7,744)
Repayment of finance leases	(856)	(4,203)
Net cash (used in) provided by financing activities	(68,915)	103,516
Net Increase (Decrease) in Cash and Cash Equivalents	64,294	(636)
Cash and Cash Equivalents, beginning of period	$ 19,720	$ 19,473

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 84,014	$ 19,720
Accounts receivable, net	423,841	332,206
Prepaid expenses	51,668	35,809
Income tax receivable	12,607	32,554
Other current assets	15,516	14,267
Total current assets	587,646	434,556
Property and Equipment, at cost	4,385,988	4,259,438
Less: accumulated depreciation and amortization	1,481,142	1,415,087
Net property and equipment	2,904,846	2,844,351
Operating Lease Right-of-Use Assets	177,513	150,301
Goodwill and Identifiable Intangibles, net	15,162	15,589
Other Noncurrent Assets	39,793	37,884
Total assets	3,724,960	3,482,681
Current Liabilities:
Accounts payable	164,842	107,424
Wages, vacation and employees’ benefits	92,162	50,723
Claims and insurance accruals	44,820	46,020
Other current liabilities	38,643	32,342
Current portion of long-term debt	124	980
Current portion of operating lease liability	30,312	27,895
Total current liabilities	370,903	265,384
Other Liabilities:
Long-term debt, less current portion	100,000	163,000
Operating lease liability, less current portion	138,755	113,119
Deferred income taxes	299,531	284,370
Claims, insurance and other	89,043	79,109
Total other liabilities	627,329	639,598
Commitments and Contingencies (Note 3)
Stockholders’ Equity:
Preferred stock, $0.001 par value, 50,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,674,650 and 26,645,402 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	27	27
Additional paid-in-capital	313,245	307,605
Deferred compensation trust, 69,543 and 70,053 shares of common stock at cost at June 30, 2026 and December 31, 2025, respectively	(9,828)	(9,088)
Retained earnings	2,423,284	2,279,155
Total stockholders’ equity	2,726,728	2,577,699
Total liabilities and stockholders’ equity	$ 3,724,960	$ 3,482,681