Dive Brief:
- Saia set its highest quarterly revenue ever with its Q2 earnings at $956.5 million, a 17.1% increase compared to a year ago, the carrier said in a news release Thursday.
- Shipments per workday also set a new Q2 record, a cargo claims ratio reached a record low of 0.3% and weight per shipment notably improved from Q1, CEO and President Frederick "Fritz" Holzgrefe noted to analysts.
- Subsequently, the company’s operating ratio for the quarter was 86.9%, Holzgrefe said, noting the 4.8 percentage point improvement from Q1 far outpaced seasonal improvement of 250 to 300 basis points.
Saia reports improvement in LTL metrics for Q2
Dive Insight:
Saia customer surveys suggest business improvement in H2, Holzgrefe said on the earnings call, noting leadership is cautious and watching to how those projections play out.
“While 2026 has included periods of volatility, volumes appear to be stabilizing, and several external economic indicators suggest the operating environment is improving,” Holzgrefe also added.
ArcBest and Old Dominion Freight Line noted on earnings calls last week how underlying fundamentals of the domestic economy appeared to be improving but also noted a broad-based manufacturing surge was lacking.
Saia unveiled a new initiative in June called Saia REV, which stands for Rapid, Expanded and Visible, that includes over 2,000 improvements in transit times that’s allowing for faster deliveries, such as taking a day off a usual time in certain cases, according to the company.
“With our value proposition increasingly clear, we continue continue to see strong customer recognition of the service and reliability we provide,” Holzgrefe said.
