---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-015487"
form_type: "8-K"
ticker: "SAIA"
cik: "0001177702"
company_name: "SAIA INC"
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:14:23.304622+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Saia Q1 EPS falls to $2.85 from $2.98; revenue flat at $660.5M

## Summary
- Diluted EPS $2.85 (down from $2.98); operating income $99.1M (-4.2%); operating ratio 85.0% worsened.
- Revenue $660.5M flat; LTL shipments -7.1%, tonnage -5.5%; yield ex-fuel surcharge +4.5%.
- Opened 4 new terminals in 2023; expects capex >$400M for full year.
- Cash $166.4M, debt $26.5M; net capex $128.1M in Q1 vs $45.4M prior year.

## SEC filing metadata
- accession: 0000950170-23-015487
- form_type: 8-K
- ticker: SAIA
- cik: 0001177702
- company_name: SAIA INC
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1177702/000095017023015487/0000950170-23-015487-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1177702/000095017023015487/saia-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-015487
- JSON: https://secwatch.observer/filing/0000950170-23-015487.json
- Plain text: https://secwatch.observer/filing/0000950170-23-015487.txt

## Key facts
- Earnings Releases
  SAIA INC reported first quarter 2023 results: revenue $660.5 million, EPS $2.85.
  - Period: first quarter 2023
  - Revenue: $660.5 million
  - EPS: $2.85
  - Result: reported results
  source text: $2.98 in the first quarter of 2022. Highlights from the first quarter operating results were as follows: First Quarter 2023 Compared to First Quarter 2022 Results • Revenue was $660.5 million, a 0.1% decrease • Operating income was $99.1 million, a 4.2% decrease • Operating ratio of 85.0% compared to 84.4% • LTL shipments per workday decreased 7.1% • LTL tonnage per
  evidence_url: https://www.sec.gov/Archives/edgar/data/1177702/000095017023015487/0000950170-23-015487-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.