Saia Reports Second Quarter Results

Saia, Inc.

JOHNS CREEK, Ga., July 30, 2026 (GLOBE NEWSWIRE) -- Saia, Inc. (Nasdaq: SAIA) today reported second quarter 2026 financial results. Diluted earnings per share for the quarter were $3.51 compared to $2.67 in the second quarter of 2025.

Highlights from the second quarter operating results were as follows:

Second Quarter 2026 Compared to Second Quarter 2025 Results

Revenue was $956.5 million, a 17.1% increase Operating income was $125.2 million, a 26.0% increase Operating ratio of 86.9% compared to 87.8% LTL shipments per workday increased 4.4% LTL tonnage per workday increased 8.4% LTL revenue per hundredweight, excluding fuel surcharge revenue, decreased 2.2% LTL revenue per shipment, excluding fuel surcharge revenue, increased 1.5%

Saia President and CEO, Fritz Holzgrefe, commented on the quarter stating, "Our strong second quarter results highlight the continued enhancement of our expanded service offering, disciplined execution and the commitment of our team members. We achieved record revenue and tonnage, along with a second-quarter record in shipments, reflecting solid growth across our network. At the same time, we maintained our disciplined focus on execution, as demonstrated by a record-low claims ratio of 0.3%. The team's ability to generate strong operating results while continuing our focus on supporting our customers and integrating network growth initiatives continues to differentiate Saia in the marketplace."

Executive Vice President and CFO, Matt Batteh, noted that, "The quarter's results were driven by continued focus on pricing and mix optimization, healthy volume trends and strong operational execution. Our expanded network enables us to provide more solutions to customers, which helped drive record top line revenue and improved operating income compared to last year. We remain focused on core execution, which will continue to create long-term value for our shareholders."

Financial Position and Capital Expenditures

Saia ended the second quarter of 2026 with $84.0 million of cash on hand and total debt of $100.1 million, which compares to $18.8 million of cash on hand and total debt of $309.1 million at June 30, 2025.

Net capital expenditures were $158.0 million during the first six months 2026, compared to $375.6 million in net capital expenditures during the first six months of 2025. In 2026, we anticipate that net capital expenditures will be approximately $350 million to $400 million, subject to ongoing evaluation of market conditions.

Conference Call

Story Continues

Management will hold a conference call to discuss quarterly results today at 10:00 a.m. Eastern Time. To participate in the call, please dial 1-833-890-5317 and request to join the Saia, Inc. call. Callers should dial in five to ten minutes in advance of the conference call. This call will be webcast live via the Company website at www.saia.com/about-us/investor-relations/financial-releases. A replay of the call will be offered two hours after the completion of the call through August 30, 2026 at 11:59 P.M. Eastern Time. The replay will be available by dialing 1-855-669-9658 referencing conference ID #4952046.

Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, brokered truckload, expedited transportation and other logistics services. With headquarters in Georgia, Saia LTL Freight operates 218 terminals with national service. For more information on Saia, Inc. visit the Investor Relations section at www.saia.com/about-us/investor-relations.

Cautionary Note Regarding Forward-Looking Statements

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release may contain these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.

Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should," "potential" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, uncertainties and assumptions include, but are not limited to, (1) general economic conditions including downturns or inflationary periods in the business cycle; (2) operation within a highly competitive industry and the adverse impact from downward pricing pressures, including in connection with fuel surcharges, and other factors; (3) industry-wide external factors largely out of our control; (4) cost and availability of qualified drivers, dock workers, mechanics and other employees, purchased transportation and fuel; (5) inflationary increases in expenses and corresponding reductions of profitability; (6) cost and availability of diesel fuel and fuel surcharges; (7) cost and availability of insurance coverage and claims expenses and other expense volatility, including for personal injury, cargo loss and damage, workers' compensation, employment and group health plan claims; (8) failure to successfully execute the strategy to expand our service geography; (9) unexpected liabilities resulting from the acquisition of real estate assets; (10) costs and liabilities from the disruption in or failure of our technology or equipment essential to our operations, including as a result of cyber incidents, security breaches, malware or ransomware attacks; (11) risks arising from remote work, including increased risk of related cybersecurity incidents; (12) failure to keep pace with technological developments; (13) liabilities and costs arising from the use of artificial intelligence; (14) labor relations, including the adverse impact should a portion of our workforce become unionized; (15) cost, availability and resale value of real property and revenue equipment; (16) supply chain disruption and delays on new equipment delivery; (17) changes in U.S. trade policy and the impact of tariffs; (18) capacity and highway infrastructure constraints; (19) risks arising from international business operations and relationships; (20) seasonal factors, harsh weather and disasters caused by climate change; (21) the creditworthiness of our customers and their ability to pay for services; (22) our need for capital and uncertainty of the credit markets; (23) the possibility of defaults under our debt agreements, including violation of financial covenants; (24) inaccuracies and changes to estimates and assumptions used in preparing our financial statements; (25) dependence on key employees; (26) employee turnover from changes to compensation and benefits or market factors; (27) increased costs of healthcare benefits; (28) damage to our reputation from adverse publicity, including from the use of or impact from social media; (29) failure to achieve acquisition synergies or disruption to our business due to such acquisitions; (30) the effect of litigation and class action lawsuits arising from the operation of our business, including the possibility of claims or judgments in excess of our insurance coverages or that result in increases in the cost of insurance coverage or that preclude us from obtaining adequate insurance coverage in the future; (31) the potential of higher corporate taxes and new regulations, including with respect to climate change, employment and labor law, healthcare and securities regulation; (32) unforeseen costs from new and existing data privacy laws; (33) the effect of governmental regulations, including hours of service and licensing compliance for drivers, engine emissions, the Compliance, Safety, Accountability (CSA) initiative, regulations of the Food and Drug Administration and Homeland Security, and healthcare and environmental regulations; (34) changes in accounting and financial standards or practices; (35) widespread outbreak of an illness or any other communicable disease; (36) international conflicts and geopolitical instability; (37) evolving stakeholder expectations regarding environmental and social issues; (38) government shutdown or failure to fund services; (39) provisions in our governing documents and Delaware law that may have anti-takeover effects; (40) issuances of equity that would dilute stock ownership; (41) weakness, disruption or loss of confidence in financial or credit markets; and (42) other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings.

As a result of these and other factors, no assurance can be given as to our future results and achievements. Accordingly, a forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this news release. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

CONTACT: Saia, Inc. Matthew Batteh Executive Vice President and Chief Financial Officer [email protected]

Saia, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Amounts in thousands) (Unaudited) June 30, 2026 December 31, 2025 Assets Current Assets: Cash and cash equivalents $84,014 $19,720 Accounts receivable, net 423,841 332,206 Prepaid expenses and other 79,791 82,630 Total current assets 587,646 434,556 Property and Equipment: Cost 4,385,988 4,259,438 Less: accumulated depreciation 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 Other Assets 54,955 53,473 Total assets $3,724,960 $3,482,681 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $164,842 $107,424 Wages, vacation and employees' benefits 92,162 50,723 Other current liabilities 83,463 78,362 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 Stockholders' Equity: Common stock 27 27 Additional paid-in capital 313,245 307,605 Deferred compensation trust (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

Saia, Inc. and Subsidiaries Condensed Consolidated Statements of Operations For the Quarters and Six Months Ended June 30, 2026 and 2025 (Amounts in thousands, except per share data) (Unaudited) Second Quarter Six Months 2026 2025 2026 2025 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 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

Saia, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2026 and 2025 (Amounts in thousands) (Unaudited) Six Months 2026 2025 Operating Activities: Net cash provided by operating activities $291,231 $279,815 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 – (8,394) Net cash used in investing activities (158,022) (383,967) Financing Activities: Borrowing (repayment) of revolving credit facility, net (63,000) 113,000 Proceeds from stock option exercises 427 2,463 Shares withheld for taxes (5,486) (7,744) Other financing activity (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 Cash and Cash Equivalents, end of period $84,014 $18,837

Saia, Inc. and Subsidiaries Financial Information For the Quarters Ended June 30, 2026 and 2025 (Unaudited) Second Quarter Second Quarter % Amount/Workday % 2026 2025 Change 2026 2025 Change Workdays 64 64 Operating ratio 86.9 % 87.8 % LTL tonnage (1) 1,709 1,576 8.4 26.70 24.63 8.4 LTL shipments (1) 2,361 2,261 4.4 36.89 35.33 4.4 LTL revenue/cwt. $27.18 $25.20 7.9 LTL revenue/cwt., excluding fuel surcharge $20.94 $21.42 (2.2) LTL revenue/shipment $393.56 $351.36 12.0 LTL revenue/shipment, excluding fuel surcharge $303.12 $298.71 1.5 LTL pounds/shipment 1,448 1,394 3.9 LTL average length of haul (2) 888 893 (0.6) (1 ) In thousands. (2 ) In miles. Note: LTL operating statistics exclude transportation and logistics services where pricing is generally not determined by weight. The LTL operating statistics also exclude the adjustment required for financial statement purposes in accordance with the Company's revenue recognition policy.

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