SAIA INC — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Saia reported Q2 2026 record revenue of $956.5M (up 17.1% YoY) with operating income of $125M (up 26% YoY) and operating ratio of 86.9% (vs. 87.8% prior year). Shipments per workday increased 4.4%, revenue per shipment (ex-fuel) rose 1.5% to $303.12, and weight per shipment improved 3.9% YoY. The company launched 'Saia REV' initiative offering faster transit times, expanded logistics, and real-time visibility. Guidance for Q3 is 100 bps sequential OR deterioration (vs. historical 150-200 bps), assuming normal seasonality and current fuel levels; full-year target is 100-200 bps OR improvement. Two wage increases in 2026 (~1 pt OR impact each) and a 7.1% GRI implemented July 1st create headwinds offset by operational improvements.
Why this rating
Strong earnings beat with 17% revenue growth and 26% operating income growth is material. However, relative to $7.3B market cap, Q2 net was ~$2.4B annualized profit—solid but not transformational. OR improvement of 90 bps YoY offset by wage and pricing headwinds ahead signals execution gains but uncertain sustainability. Network maturation and 218 terminals remain early-stage returns.
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