Q1 2026 Saia Inc Earnings Call Transcript
Key Points
- Saia Inc (SAIA) achieved a record first-quarter revenue of $806 million, marking a 2.4% improvement over the prior year.
- The company reported a significant improvement in operational metrics, including a record for miles between preventable accidents and the highest first-quarter level for hours between lost time injuries since 2020.
- Saia Inc (SAIA) maintained a cargo claims ratio of 0.5%, marking the sixth consecutive quarter of claims ratio below 0.6%.
- The company saw shipment growth in both legacy and ramping markets, indicating successful integration of new terminals into the national network.
- Revenue per shipment, excluding fuel, increased throughout the quarter, supported by a 6.7% increase in contractual renewals.
- Saia Inc (SAIA) faced a 30% increase in diesel costs in March, which negatively impacted profitability due to the timing difference of their fuel surcharge program.
- The average weight per shipment decreased by 3.1% compared to the prior year, contributing to a 2.1% decrease in tonnage.
- Salaries, wages, and benefits increased by $4 million, driven by a $7.9 million increase in health insurance costs and a $1.4 million increase in workers' compensation costs.
- Purchase transportation expenses increased by 7.5% compared to the first quarter last year, driven by increased reliance on rail transportation.
- The operating ratio increased to 91.7% from 91.1% a year ago, indicating higher operating expenses relative to revenue.
Good day and welcome to the Saia Inc. first-quarter 2026 earnings conference call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Matt Batteh, Saia's Executive Vice President, Chief Financial Officer. Please go ahead.
Thank you, Chad. Good morning, everyone. Welcome to Saia's first-quarter 2026 conference call. With me for today's call is Saia's President and Chief Executive Officer, Fritz Holzgrefe. Before we begin, you should know that during this call, we may make some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1,995.
These forward-looking statements and all other statements that might be made on this call that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. We refer you to our press release and our SEC filings for more information on the exact risk factors that
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