$SAIA
SAIA INC

2023 Q2 Form 10-Q Financial Statement

#000095017023015859 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $694.6M $660.5M $661.2M
YoY Change -6.83% -0.1% 36.59%
Cost Of Revenue $183.3M $188.4M $201.0M
YoY Change -22.79% -6.3% 54.75%
Gross Profit $511.4M $472.2M $460.2M
YoY Change 0.62% 2.6% 29.96%
Gross Profit Margin 73.62% 71.48% 69.6%
Selling, General & Admin $346.3M $330.1M $316.8M
YoY Change 6.47% 4.2% 17.19%
% of Gross Profit 67.72% 69.91% 68.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $44.66M $42.88M $39.95M
YoY Change 20.88% 7.33% 12.95%
% of Gross Profit 8.73% 9.08% 8.68%
Operating Expenses $391.0M $373.0M $356.7M
YoY Change 7.94% 4.55% 16.69%
Operating Profit $120.4M $99.14M $103.5M
YoY Change -17.53% -4.18% 113.79%
Interest Expense $29.00K $688.0K -$692.0K
YoY Change -95.66% -199.42% -23.11%
% of Operating Profit 0.02% 0.69% -0.67%
Other Income/Expense, Net $990.0K -$45.00K -$235.0K
YoY Change -168.89% -80.85% -335.0%
Pretax Income $121.3M $99.10M $102.5M
YoY Change -16.11% -3.34% 113.59%
Income Tax $29.96M $23.00M $23.10M
% Of Pretax Income 24.7% 23.21% 22.53%
Net Earnings $91.32M $76.10M $79.42M
YoY Change -16.41% -4.19% 112.98%
Net Earnings / Revenue 13.15% 11.52% 12.01%
Basic Earnings Per Share $3.43 $2.86 $3.01
Diluted Earnings Per Share $3.42 $2.85 $2.98
COMMON SHARES
Basic Shares Outstanding 26.53M 26.53M 26.39M
Diluted Shares Outstanding 26.74M 26.70M 26.67M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $235.0M $166.4M $141.3M
YoY Change 70.45% 17.76% 165.15%
Cash & Equivalents $235.0M $166.4M $141.3M
Short-Term Investments
Other Short-Term Assets $42.88M $7.146M $47.00M
YoY Change 33.83% -84.8% -9.97%
Inventory
Prepaid Expenses $36.52M $38.64M
Receivables $299.6M $294.9M $322.3M
Other Receivables $1.442M $6.391M $0.00
Total Short-Term Assets $578.9M $513.5M $510.7M
YoY Change 7.92% 0.56% 46.62%
LONG-TERM ASSETS
Property, Plant & Equipment $1.718B $1.568B $1.375B
YoY Change 26.99% 14.02% 11.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.54M $27.55M $27.36M
YoY Change -34.91% 0.7% 213.22%
Total Long-Term Assets $1.758B $1.729B $1.422B
YoY Change 16.33% 21.64% 12.63%
TOTAL ASSETS
Total Short-Term Assets $578.9M $513.5M $510.7M
Total Long-Term Assets $1.758B $1.729B $1.422B
Total Assets $2.337B $2.243B $1.932B
YoY Change 14.12% 16.07% 19.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $98.25M $108.4M $130.2M
YoY Change -32.38% -16.75% 7.03%
Accrued Expenses $130.6M $123.2M $129.0M
YoY Change -13.14% -4.44% 10.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.68M $14.45M $18.37M
YoY Change -34.87% -21.34% -12.92%
Total Short-Term Liabilities $267.3M $270.5M $339.1M
YoY Change -21.19% -20.23% 10.37%
LONG-TERM LIABILITIES
Long-Term Debt $9.677M $12.05M $26.51M
YoY Change -54.7% -54.53% -41.1%
Other Long-Term Liabilities $155.4M $321.3M $301.7M
YoY Change -49.05% 6.49% -1.3%
Total Long-Term Liabilities $165.1M $321.3M $301.7M
YoY Change -45.87% 6.49% -1.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $267.3M $270.5M $339.1M
Total Long-Term Liabilities $165.1M $321.3M $301.7M
Total Liabilities $590.9M $591.9M $640.9M
YoY Change -8.26% -7.65% 4.55%
SHAREHOLDERS EQUITY
Retained Earnings $1.475B $1.383B
YoY Change 29.53%
Common Stock $277.2M $273.3M
YoY Change 2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.746B $1.651B $1.291B
YoY Change
Total Liabilities & Shareholders Equity $2.337B $2.243B $1.932B
YoY Change 14.12% 16.07% 19.98%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $91.32M $76.10M $79.42M
YoY Change -16.41% -4.19% 112.98%
Depreciation, Depletion And Amortization $44.66M $42.88M $39.95M
YoY Change 20.88% 7.33% 12.95%
Cash From Operating Activities $172.1M $119.3M $95.96M
YoY Change 53.77% 24.29% 57.39%
INVESTING ACTIVITIES
Capital Expenditures $98.61M $128.4M $46.26M
YoY Change -189.57% 177.6% 80.93%
Acquisitions
YoY Change
Other Investing Activities $169.0K $360.0K $883.0K
YoY Change -4.52% -59.23% 341.5%
Cash From Investing Activities -$98.44M -$128.1M -$45.38M
YoY Change -10.44% 182.21% 78.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.125M -12.18M -15.85M
YoY Change -6.53% -23.14% 107.68%
NET CHANGE
Cash From Operating Activities 172.1M 119.3M 95.96M
Cash From Investing Activities -98.44M -128.1M -45.38M
Cash From Financing Activities -5.125M -12.18M -15.85M
Net Change In Cash 68.57M -20.97M 34.74M
YoY Change -2085.29% -160.35% 24.27%
FREE CASH FLOW
Cash From Operating Activities $172.1M $119.3M $95.96M
Capital Expenditures $98.61M $128.4M $46.26M
Free Cash Flow $73.53M -$9.145M $49.70M
YoY Change -66.88% -118.4% 40.39%

Facts In Submission

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CY2023Q1 dei Security12b Title
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Common Stock, par value $.001 per share
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
360000
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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-128055000
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CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2204000
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
907000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8927000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11230000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4504000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
5525000
CY2023Q1 saia Other Financing Activity
OtherFinancingActivity
-953000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12180000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15848000
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
34737000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
106588000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166425000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
141325000
CY2023Q1 us-gaap Net Income Loss
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76097000
CY2022Q1 us-gaap Net Income Loss
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79424000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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26600000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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26391000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
102000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
279000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26702000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26670000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.86
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.01
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.85
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.98
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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29120
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15808
CY2023Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
26700000
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
31200000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
26500000
CY2022Q4 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
31000000.0
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
0
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
0
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
26504000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
31008000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
26504000
CY2022Q4 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
31008000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Current
LongTermDebtAndFinanceLeaseLiabilityCurrent
14452000
CY2022Q4 saia Long Term Debt And Finance Lease Liability Current
LongTermDebtAndFinanceLeaseLiabilityCurrent
14519000
CY2023Q1 saia Long Term Debt And Finance Lease Liabiliity
LongTermDebtAndFinanceLeaseLiabiliity
12052000
CY2022Q4 saia Long Term Debt And Finance Lease Liabiliity
LongTermDebtAndFinanceLeaseLiabiliity
16489000
CY2019Q1 saia Line Of Credit Facility Amended Expiration Month And Year
LineOfCreditFacilityAmendedExpirationMonthAndYear
2024-02
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
26500000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
31000000.0
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
10629000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Two
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearTwo
10604000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Three
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearThree
5453000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Four
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearFour
995000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Five
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearFive
0
CY2023Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal After Year Five
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalAfterYearFive
0
CY2023Q1 saia Long Term Debt And Finance Lease Liability Including Interest On Finance Leases
LongTermDebtAndFinanceLeaseLiabilityIncludingInterestOnFinanceLeases
27681000
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1177000
CY2023Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
26504000

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