$SAIA
SAIA INC

2024 Q2 Form 10-Q Financial Statement

#000095017024049188 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $823.2M $754.8M
YoY Change 18.52% 14.27%
Cost Of Revenue $221.9M $208.8M
YoY Change 21.1% 10.87%
Gross Profit $601.3M $545.9M
YoY Change 17.59% 15.62%
Gross Profit Margin 73.04% 72.33%
Selling, General & Admin $410.8M $378.9M
YoY Change 18.61% 14.8%
% of Gross Profit 68.31% 69.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $52.54M $48.85M
YoY Change 17.64% 13.92%
% of Gross Profit 8.74% 8.95%
Operating Expenses $463.3M $427.8M
YoY Change 18.5% 14.7%
Operating Profit $137.6M $118.2M
YoY Change 14.28% 19.17%
Interest Expense $2.412M $213.0K
YoY Change 8217.24% -69.04%
% of Operating Profit 1.75% 0.18%
Other Income/Expense, Net -$1.976M $788.0K
YoY Change -299.6% -1851.11%
Pretax Income $135.6M $118.9M
YoY Change 11.83% 20.0%
Income Tax $33.10M $28.22M
% Of Pretax Income 24.41% 23.73%
Net Earnings $102.5M $90.70M
YoY Change 12.26% 19.18%
Net Earnings / Revenue 12.45% 12.02%
Basic Earnings Per Share $3.84 $3.40
Diluted Earnings Per Share $3.83 $3.39
COMMON SHARES
Basic Shares Outstanding 26.59M 26.59M
Diluted Shares Outstanding 26.80M 26.79M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.17M $12.31M
YoY Change -95.25% -92.6%
Cash & Equivalents $11.17M $12.31M
Short-Term Investments
Other Short-Term Assets $9.097M $58.14M
YoY Change -78.78% 713.66%
Inventory
Prepaid Expenses $42.76M $51.23M
Receivables $375.9M $345.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $446.1M $416.3M
YoY Change -22.94% -18.94%
LONG-TERM ASSETS
Property, Plant & Equipment $2.341B $2.306B
YoY Change 36.28% 47.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.53M $25.99M
YoY Change 13.25% -5.67%
Total Long-Term Assets $2.511B $2.349B
YoY Change 42.82% 35.86%
TOTAL ASSETS
Total Short-Term Assets $446.1M $416.3M
Total Long-Term Assets $2.511B $2.349B
Total Assets $2.957B $2.766B
YoY Change 26.53% 23.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $155.6M $153.5M
YoY Change 58.36% 41.64%
Accrued Expenses $88.68M $118.5M
YoY Change -32.08% -3.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.577M $7.498M
YoY Change -35.13% -48.12%
Total Short-Term Liabilities $327.8M $337.8M
YoY Change 22.65% 24.86%
LONG-TERM LIABILITIES
Long-Term Debt $169.1M $76.55M
YoY Change 1647.42% 535.19%
Other Long-Term Liabilities $493.2M $164.8M
YoY Change 217.43% -48.71%
Total Long-Term Liabilities $493.2M $241.4M
YoY Change 198.82% -24.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $327.8M $337.8M
Total Long-Term Liabilities $493.2M $241.4M
Total Liabilities $821.0M $736.8M
YoY Change 38.95% 24.49%
SHAREHOLDERS EQUITY
Retained Earnings $1.855B $1.753B
YoY Change 25.81% 26.71%
Common Stock $287.6M $282.1M
YoY Change 3.75% 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.136B $2.029B
YoY Change
Total Liabilities & Shareholders Equity $2.957B $2.766B
YoY Change 26.53% 23.32%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $102.5M $90.70M
YoY Change 12.26% 19.18%
Depreciation, Depletion And Amortization $52.54M $48.85M
YoY Change 17.64% 13.92%
Cash From Operating Activities $130.8M $106.5M
YoY Change -24.03% -10.73%
INVESTING ACTIVITIES
Capital Expenditures $224.8M $457.2M
YoY Change 127.93% 256.01%
Acquisitions
YoY Change
Other Investing Activities $300.0K $5.342M
YoY Change 77.51% 1383.89%
Cash From Investing Activities -$224.5M -$451.8M
YoY Change 128.02% 252.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 92.54M 61.45M
YoY Change -1905.7% -604.49%
NET CHANGE
Cash From Operating Activities 130.8M 106.5M
Cash From Investing Activities -224.5M -451.8M
Cash From Financing Activities 92.54M 61.45M
Net Change In Cash -1.139M -283.9M
YoY Change -101.66% 1254.2%
FREE CASH FLOW
Cash From Operating Activities $130.8M $106.5M
Capital Expenditures $224.8M $457.2M
Free Cash Flow -$93.98M -$350.7M
YoY Change -227.82% 3734.84%

Facts In Submission

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CY2024Q1 us-gaap Payments For Proceeds From Other Investing Activities
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-4999000
CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0
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CY2024Q1 saia Aggregate Purchase Price
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CY2024Q1 saia Number Of Completed Acquisition Leases Freight Terminals
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CY2024Q1 saia Aggregate Purchase Price In Cash
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7900000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal After Year Five
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalAfterYearFive
0
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2204000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7968000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4437000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4504000
CY2024Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-141000
CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-953000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
61447000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12180000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-283907000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-20965000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296215000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
187390000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12308000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166425000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Including Interest On Finance Leases
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84463000
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
412000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
84051000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
90695000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
76097000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26672000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26600000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
122000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
102000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26794000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26702000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.4
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.86
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.38
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.85
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29120
CY2024Q1 saia Number Of Freight Terminals
NumberOfFreightTerminals
17
CY2024Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
83800000
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
16100000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
84100000
CY2023Q4 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
16500000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
72000000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
0
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
12051000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16488000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
84051000
CY2023Q4 saia Long Term Debt And Finance Lease Liability Including Current Maturities
LongTermDebtAndFinanceLeaseLiabilityIncludingCurrentMaturities
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CY2024Q1 saia Long Term Debt And Finance Lease Liability Current
LongTermDebtAndFinanceLeaseLiabilityCurrent
7498000
CY2023Q4 saia Long Term Debt And Finance Lease Liability Current
LongTermDebtAndFinanceLeaseLiabilityCurrent
10173000
CY2024Q1 saia Long Term Debt And Finance Lease Liabiliity
LongTermDebtAndFinanceLeaseLiabiliity
76553000
CY2023Q4 saia Long Term Debt And Finance Lease Liabiliity
LongTermDebtAndFinanceLeaseLiabiliity
6315000
CY2023Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0609
CY2024Q1 saia Maximum Leverage Ratio
MaximumLeverageRatio
0.035
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
12100000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
16500000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
6016000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Two
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearTwo
5453000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Three
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearThree
994000
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Four
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2024Q1 saia Long Term Debt And Finance Lease Liability Maturities Repayments Of Principal In Year Five
LongTermDebtAndFinanceLeaseLiabilityMaturitiesRepaymentsOfPrincipalInYearFive
72000000

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