Saia Reports Record Q4 and Annual Revenue in 2025

LTL carrier sees higher costs pressure profitability despite national network expansion

Published on Feb. 10, 2026

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Saia (NASDAQ:SAIA) executives reported the less-than-truckload carrier delivered record quarterly and annual revenue in 2025 as its first full year operating a fully national network expanded customer opportunities, though fourth-quarter profitability was pressured by higher self-insurance costs and inflationary expense trends.

Why it matters

Saia's expansion to a national LTL network has enabled the company to grow revenue, but rising costs have squeezed profitability. The report highlights the challenges freight carriers face in maintaining margins amid inflationary pressures and a mixed demand environment.

The details

Saia reported fourth-quarter revenue of $790 million, up 0.1% year over year and the highest quarterly revenue in company history. However, the company's operating ratio rose to 91.9% from 87.1% a year earlier as operating expenses increased 5.6% while revenue was essentially flat. Diluted earnings per share were $1.77, down from $2.84 in the fourth quarter of 2024. Management cited higher self-insurance costs and adverse claims development as key factors pressuring profitability.

  • Saia implemented a general rate increase (GRI) on Oct. 1, 2025.
  • Saia saw a 6.6% contractual renewal increase in January 2026.

The players

Saia

A publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America.

Matt Batteh

Chief Financial Officer of Saia.

Fritz Holzgrefe

Chief Executive Officer of Saia.

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What they’re saying

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