Saia shares fall as fourth quarter earnings miss estimates

Investing.com -- Saia, Inc. (NASDAQ: SAIA) reported fourth quarter earnings that fell short of analyst expectations, sending shares down 5.3% in premarket trading.

The less-than-truckload (LTL) carrier posted earnings of $1.77 per share for the fourth quarter, missing the analyst consensus of $1.91. Revenue came in at $790 million, slightly above the expected $776.27 million and representing a marginal 0.1% increase YoY. The company's operating ratio deteriorated to 91.9% compared to 87.1% in the same period last year, while operating income dropped 36.9% to $64 million.

The earnings miss was partly attributed to unexpected insurance costs. "Results from our core business operations were in line with our expectations for the quarter. However, the quarter was impacted by unexpected adverse developments late in the quarter related to accidents that occurred in prior years, driving approximately $4.7 million in elevated self-insurance related costs," said Fritz Holzgrefe, Saia's President and CEO.

Fourth quarter operational metrics showed mixed results, with LTL shipments per workday decreasing 0.5% and tonnage per workday falling 1.5%. Revenue per hundredweight, excluding fuel surcharge, increased slightly by 0.5%, while revenue per shipment declined 0.5%.

For the full year 2025, Saia reported diluted earnings per share of $9.52, or $9.11 on an adjusted basis, compared to $13.51 in 2024. Annual revenue reached $3.2 billion, up 0.8% YoY, while operating income decreased 27% to $352.2 million.

"We continue to see growth in our ramping markets, with both new and existing customers, driven by our ability to provide more solutions to meet customer expectations," said Matt Batteh, Executive Vice President and CFO.

The company announced its 2026 capital expenditure plan of approximately $350 million to $400 million, lower than the $544.1 million spent in 2025 and the $1.04 billion invested in 2024.

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