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Saia, Inc. (SAIA)

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174.53-2.16 (-1.22%)
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Neutralpattern detected
Previous Close176.69
Open177.04
Bid0.00 x 1100
Ask0.00 x 1000
Day's Range172.82 - 177.04
52 Week Range61.46 - 178.70
Volume151,196
Avg. Volume210,303
Market Cap4.565B
Beta (5Y Monthly)1.21
PE Ratio (TTM)38.77
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Saia Provides Fourth Quarter LTL Operating Data
    GlobeNewswire

    Saia Provides Fourth Quarter LTL Operating Data

    JOHNS CREEK, Ga., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, is providing LTL shipment and tonnage data for the first two months of the fourth quarter. In October 2020, LTL shipments per workday increased 3.3%, LTL tonnage per workday increased 5.7% and LTL weight per shipment increased 2.4% to 1,316 pounds compared to 1,285 pounds in October 2019.   In November 2020, LTL shipments per workday increased 4.4%, LTL tonnage per workday increased 7.3% and LTL weight per shipment increased 2.8% to 1,341 pounds compared to 1,305 pounds in November 2019. Actual fourth quarter and annual shipments, tonnage and weight per shipment could differ materially from the data expressed in this press release, including by reason of the risk factors included in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in other filings with the Securities and Exchange Commission. The information herein speaks as of the date of this press release and is subject to change. Saia is under no obligation, and expressly disclaims any obligation to update or alter such information, whether as a result of new information, future events, or otherwise, except as required by law.Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 169 terminals in 44 states. For more information on Saia, Inc. visit the Investor Relations section at www.saiacorp.com.Cautionary Note Regarding Forward-Looking StatementsThe 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” 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. 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 in the business cycle; (2) effectiveness of Company-specific performance improvement initiatives, including management of the cost structure to match shifts in customer volume levels; (3) the creditworthiness of our customers and their ability to pay for services; (4) widespread outbreak of an illness or any other communicable disease, including the COVID-19 pandemic, or any other health crisis or business disruptions that may arise from the COVID-19 pandemic in the future; (5) failure to achieve acquisition synergies; (6) failure to operate and grow acquired businesses in a manner that supports the value allocated to these acquired businesses; (7) economic declines in the geographic regions or industries in which our customers operate; (8) competitive initiatives and pricing pressures, including in connection with fuel surcharge; (9) loss of significant customers; (10) the Company’s need for capital and uncertainty of the credit markets; (11) the possibility of defaults under the Company’s debt agreements (including violation of financial covenants); (12) possible issuance of equity which would dilute stock ownership; (13) integration risks; (14) the effect of litigation including class action lawsuits; (15) cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment, technology and other assets; (16) the effect of governmental regulations, including but not limited to Hours of Service, engine emissions, the Compliance, Safety, Accountability (CSA) initiative, the Food and Drug Administration, compliance with legislation requiring companies to evaluate their internal control over financial reporting, Homeland Security, environmental regulations, tax law changes and changes to international trade agreements and tariffs; (17) changes in interpretation of accounting principles; (18) dependence on key employees; (19) inclement weather; (20) labor relations, including the adverse impact should a portion of the Company’s workforce become unionized; (21) terrorism risks; (22) self-insurance claims and other expense volatility; (23) risks arising from international business operations and relationships; (24) recent increases in the severity of auto liability claims against trucking companies and sharply higher costs of settlements and verdicts; (25) cost and availability of insurance coverage including the possibility the Company may be required to pay additional premiums, may be required to assume additional liability under its auto policy or be unable to obtain coverage; (26) increased costs of healthcare and prescription drugs, including as a result of healthcare reform legislation; (27) social media risks; (28) disruption in or failure of the Company’s technology or equipment including services essential to operations of the Company and/or cyber security risk; (29) failure to successfully execute the strategy to expand the Company’s service geography into the Northeastern United States; and (30) 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 press 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.CONTACT:Saia, Inc.  Melanie Baker  Investors@saia.com  770.232.4088

  • ACCESSWIRE

    Saia, Inc. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / October 29, 2020 / Saia, Inc.

  • Saia Reports Record Third Quarter Results
    GlobeNewswire

    Saia Reports Record Third Quarter Results

    JOHNS CREEK, Ga., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported third quarter 2020 financial results.   Diluted earnings per share in the quarter were $1.56 compared to $1.25 in the third quarter of 2019.Highlights from the third quarter operating results were as follows:Third Quarter 2020 Compared to Third Quarter 2019 Results * Revenue was $481.4 million, a 2.7% increase * Operating income was $55.2 million, a 21.7% increase * Operating ratio of 88.5 compared to 90.3 * LTL shipments per workday increased 0.9% * LTL tonnage per workday was flat * LTL revenue per hundredweight increased 2.6% * LTL revenue per shipment rose 1.6% to $239.60 “Our third quarter results reflect a continuation of the improving volume trends we experienced in the middle of the second quarter and our continued focus on pricing and execution,” stated Saia President and Chief Executive Officer, Fritz Holzgrefe. “Tonnage per workday was flat compared to the prior year and we were able to grow revenue per shipment by 1.6% despite fuel surcharge revenue being down nearly 17% from a year ago,” Holzgrefe added.   “To post a record operating ratio in one of the most volatile operating environments we have experienced in recent memory, is a tribute to the thousands of Saia employees who continue to deliver excellent service to our customers in these trying times,” said Holzgrefe.Saia Executive Vice President and Chief Financial Officer, Douglas Col added, “Revenue growth of 2.7% on flat year-over-year tonnage was driven by a 5.5% increase in yield excluding fuel surcharge and a 6% increase in our length of haul. Our weight per shipment trends remain volatile on a day-to-day basis and though weight per shipment declined 1% for the full quarter, it was improving on a year-over-year basis for the last two months of the quarter,” concluded Col.Financial Position and Capital ExpendituresTotal debt was $120.9 million at September 30, 2020 and inclusive of the cash on-hand, net debt to total capital was 9.4%. This compares to total debt of $165.3 million and net debt to total capital of 17.3% at September 30, 2019.Year-to-date capital investments were $205.3 million in 2020. This compares to $245.2 million in capital investments during the same period in 2019, which included equipment acquired with finance leases. In 2020, we anticipate capital expenditures will be approximately $225 million.Earlier this month we opened a new 200 door terminal in Memphis, Tennessee. The new terminal is 60% larger than our previously occupied terminal in that market.Conference CallManagement will hold a conference call to discuss quarterly results today at 10:00 a.m. Eastern Time. To participate in the call, please dial 800-353-6461 or 334-323-0501 referencing conference ID 2095005. 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/calendar-of-events . A replay of the call will be offered two hours after the completion of the call through November 26 at 1:00 p.m. Eastern Time. The replay will be available by dialing 888-203-1112.Saia, Inc. (SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 169 terminals across 44 states. For more information on Saia, Inc. visit the Investor Relations section at www.saia.com/about-us/investor-relations.Cautionary Note Regarding Forward-Looking StatementsThe 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” 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. 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 in the business cycle; (2) effectiveness of Company-specific performance improvement initiatives, including management of the cost structure to match shifts in customer volume levels; (3) the creditworthiness of our customers and their ability to pay for services; (4) widespread outbreak of an illness or any other communicable disease, including the COVID-19 pandemic, or any other health crisis or business disruptions that may arise from the COVID-19 pandemic in the future; (5) failure to achieve acquisition synergies; (6) failure to operate and grow acquired businesses in a manner that supports the value allocated to these acquired businesses; (7) economic declines in the geographic regions or industries in which our customers operate; (8) competitive initiatives and pricing pressures, including in connection with fuel surcharge; (9) loss of significant customers; (10) the Company’s need for capital and uncertainty of the credit markets; (11) the possibility of defaults under the Company’s debt agreements (including violation of financial covenants); (12) possible issuance of equity which would dilute stock ownership; (13) integration risks; (14) the effect of litigation including class action lawsuits; (15) cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment, technology and other assets; (16) the effect of governmental regulations, including but not limited to Hours of Service, engine emissions, the Compliance, Safety, Accountability (CSA) initiative, the Food and Drug Administration, compliance with legislation requiring companies to evaluate their internal control over financial reporting, Homeland Security, environmental regulations, tax law changes and changes to international trade agreements and tariffs; (17) changes in interpretation of accounting principles; (18) dependence on key employees; (19) inclement weather; (20) labor relations, including the adverse impact should a portion of the Company’s workforce become unionized; (21) terrorism risks; (22) self-insurance claims and other expense volatility; (23) risks arising from international business operations and relationships; (24) recent increases in the severity of auto liability claims against trucking companies and sharply higher costs of settlements and verdicts; (25) cost and availability of insurance coverage including the possibility the Company may be required to pay additional premiums, may be required to assume additional liability under its auto policy or be unable to obtain coverage; (26) increased costs of healthcare and prescription drugs, including as a result of healthcare reform legislation; (27) social media risks; (28) disruption in or failure of the Company’s technology or equipment including services essential to operations of the Company and/or cyber security risk; (29) failure to successfully execute the strategy to expand the Company’s service geography into the Northeastern United States; and (30) 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 press 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.CONTACT: Saia, Inc. Investor Relations investors@saia.com 770.232.4088 Saia, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Amounts in thousands) (Unaudited)         September 30, 2020 December 31, 2019 ASSETS           CURRENT ASSETS:     Cash and cash equivalents $25,469  $248  Accounts receivable, net  226,677   196,119  Prepaid expenses and other  27,971   36,012  Total current assets  280,117   232,379        PROPERTY AND EQUIPMENT:     Cost  1,903,383   1,739,222  Less: accumulated depreciation  762,264   686,623  Net property and equipment  1,141,119   1,052,599  OPERATING LEASE RIGHT-OF-USE ASSETS  117,487   103,890  OTHER ASSETS  26,957   26,825  Total assets $1,565,680  $1,415,693        LIABILITIES AND STOCKHOLDERS' EQUITY           CURRENT LIABILITIES:     Accounts payable $97,060  $83,621  Wages and employees' benefits  54,947   49,668  Other current liabilities  83,248   69,532  Current portion of long-term debt  20,735   19,405  Current portion of operating lease liability  19,701   19,020  Total current liabilities  275,691   241,246        OTHER LIABILITIES:     Long-term debt, less current portion  100,186   117,025  Operating lease liability, less current portion  99,474   86,239  Deferred income taxes  122,162   111,555  Claims, insurance and other  49,701   44,402  Total other liabilities  371,523   359,221        STOCKHOLDERS' EQUITY:     Common stock  26   26  Additional paid-in capital  267,075   260,871  Deferred compensation trust  (4,939)  (3,871) Retained earnings  656,304   558,200  Total stockholders' equity  918,466   815,226  Total liabilities and stockholders' equity $1,565,680  $1,415,693        Saia, Inc. and Subsidiaries Consolidated Statements of Operations For the Quarters and Nine Months Ended September 30, 2020 and 2019 (Amounts in thousands, except per share data) (Unaudited)         Third Quarter Nine Months    2020   2019   2020   2019  OPERATING REVENUE $481,374  $468,891  $1,345,884  $1,343,670            OPERATING EXPENSES:         Salaries, wages and employees' benefits  252,092   250,162   715,014   708,203  Purchased transportation  40,053   35,843   96,518   98,415  Fuel, operating expenses and supplies  74,106   84,259   222,907   253,130  Operating taxes and licenses  14,061   13,634   42,200   40,365  Claims and insurance  11,938   7,850   40,652   30,536  Depreciation and amortization  34,224   31,333   100,478   87,258  Loss (gain) from property disposals, net  (316)  451   (1,558)  607  Total operating expenses  426,158   423,532   1,216,211   1,218,514            OPERATING INCOME  55,216   45,359   129,673   125,156            NONOPERATING EXPENSES (INCOME):         Interest expense  1,174   1,868   4,170   5,154  Other, net  (391)  (20)  (595)  (494) Nonoperating expenses, net  783   1,848   3,575   4,660            INCOME BEFORE INCOME TAXES  54,433   43,511   126,098   120,496  Income tax expense  12,894   10,543   27,994   28,196  NET INCOME $41,539  $32,968  $98,104  $92,300            Average common shares outstanding - basic  26,150   25,978   26,118   25,936  Average common shares outstanding - diluted  26,615   26,460   26,569   26,413            Basic earnings per share $1.59  $1.27  $3.76  $3.56  Diluted earnings per share $1.56  $1.25  $3.69  $3.49            Saia, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows For the nine months ended September 30, 2020 and 2019 (Amounts in thousands) (Unaudited)   Nine Months    2020   2019  OPERATING ACTIVITIES:     Net cash provided by operating activities $238,961  $207,298  Net cash provided by operating activities  238,961   207,298        INVESTING ACTIVITIES:     Acquisition of property and equipment  (205,307)  (245,203) Proceeds from disposal of property and equipment  7,797   678  Net cash used in investing activities  (197,510)  (244,525)       FINANCING ACTIVITIES:     Borrowing (repayment) of revolving credit agreement, net  (929)  50,005  Proceeds from stock option exercises  2,878   2,927  Shares withheld for taxes  (3,599)  (3,471) Other financing activity  (14,580)  (14,413) Net cash provided by (used in) financing activities  (16,230)  35,048        NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS  25,221   (2,179) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD  248   2,194  CASH AND CASH EQUIVALENTS, END OF PERIOD $25,469  $15              NON-CASH ITEMS:     Equipment financed with finance leases $–  $6,165        Saia, Inc. and Subsidiaries Financial Information For the Quarters Ended September 30, 2020 and 2019 (Unaudited)                       Third Quarter     Third Quarter % Amount/Workday %    2020   2019  Change 2020 2019 Change Workdays      64 64   Operating ratio 88.5%   90.3%          LTL tonnage (1) 1,263   1,263  (0.0) 19.73 19.74 (0.0) LTL shipments (1) 1,959   1,941  0.9  30.61 30.33 0.9  LTL revenue/cwt.$18.59  $18.12  2.6        LTL revenue/shipment$239.60  $235.87  1.6        LTL pounds/shipment 1,289   1,302  (1.0)       LTL length of haul (2) 893   842  6.1                      (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.