10-Q Filing

SAIA INC CIK: 1177702 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-015859`
Period End Date	20230331
Filing Date	20230428
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	saia-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 40 Cash Flow Statement 42 Stockholders Equity 16

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$166.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.39M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$294.92M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$290.31M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$22.52M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$38.63M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$23.44M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$6.39M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.53M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.53M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$513.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.46M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$530.89M	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.48B	USD	Point-in-time
Property and Equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.60B	USD	Point-in-time
Deferred compensation trust	`CommonStockSharesHeldInEmployeeTrustShares`	69,982.00	shares	Point-in-time
Deferred compensation trust	`CommonStockSharesHeldInEmployeeTrustShares`	70,812.00	shares	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$996.20M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.03B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.57B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$1.48B	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$120.45M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$115.48M	USD	Point-in-time
Goodwill and Identifiable Intangibles, net	`IntangibleAssetsNetIncludingGoodwill`	$17.94M	USD	Point-in-time
Goodwill and Identifiable Intangibles, net	`IntangibleAssetsNetIncludingGoodwill`	$18.15M	USD	Point-in-time
Other Noncurrent Assets	`OtherAssetsNoncurrent`	$27.55M	USD	Point-in-time
Other Noncurrent Assets	`OtherAssetsNoncurrent`	$22.60M	USD	Point-in-time
Total assets	`Assets`	$2.24B	USD	Point-in-time
Total assets	`Assets`	$2.17B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$108.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$99.79M	USD	Point-in-time
Wages, vacation and employees benefits	`EmployeeRelatedLiabilitiesCurrent`	$66.68M	USD	Point-in-time
Wages, vacation and employees benefits	`EmployeeRelatedLiabilitiesCurrent`	$54.71M	USD	Point-in-time
Claims and insurance accruals	`AccruedInsuranceCurrent`	$43.28M	USD	Point-in-time
Claims and insurance accruals	`AccruedInsuranceCurrent`	$45.48M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$22.68M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$24.48M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$14.52M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$14.45M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$25.26M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$24.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$274.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$270.53M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$16.49M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$12.05M	USD	Point-in-time
Operating lease liability, less current portion	`OperatingLeaseLiabilityNoncurrent`	$98.58M	USD	Point-in-time
Operating lease liability, less current portion	`OperatingLeaseLiabilityNoncurrent`	$93.65M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$151.51M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$145.77M	USD	Point-in-time
Claims, insurance and other	`ClaimsInsuranceAndOtherNoncurrent`	$64.12M	USD	Point-in-time
Claims, insurance and other	`ClaimsInsuranceAndOtherNoncurrent`	$60.44M	USD	Point-in-time
Total other liabilities	`OtherLiabilitiesNoncurrent`	$321.33M	USD	Point-in-time
Total other liabilities	`OtherLiabilitiesNoncurrent`	$321.28M	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 50,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,532,778 and 26,464,197 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$26.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,532,778 and 26,464,197 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$277.37M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$273.27M	USD	Point-in-time
Deferred compensation trust, 70,812 and 69,982 shares of common stock at cost at March 31, 2023 and December 31, 2022, respectively	`CommonStockIssuedEmployeeTrustDeferred`	$5.66M	USD	Point-in-time
Deferred compensation trust, 70,812 and 69,982 shares of common stock at cost at March 31, 2023 and December 31, 2022, respectively	`CommonStockIssuedEmployeeTrustDeferred`	$5.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.31B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.58B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.22B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.65B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.29B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.17B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.24B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Operating Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$661.22M	USD	1 Quarter
Operating Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$660.53M	USD	1 Quarter
Salaries, wages and employees' benefits	`LaborAndRelatedExpense`	$298.96M	USD	1 Quarter
Salaries, wages and employees' benefits	`LaborAndRelatedExpense`	$289.46M	USD	1 Quarter
Purchased Transportations	`Purchasedtransportations`	$78.25M	USD	1 Quarter
Purchased Transportations	`Purchasedtransportations`	$46.73M	USD	1 Quarter
Fuel, operating expenses and supplies	`Fueloperatingexpensesandsuppliesss`	$141.62M	USD	1 Quarter
Fuel, operating expenses and supplies	`Fueloperatingexpensesandsuppliesss`	$122.77M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$16.57M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$17.07M	USD	1 Quarter
Claims and insurance	`OperatingInsuranceAndClaimsCostsProduction`	$10.74M	USD	1 Quarter
Claims and insurance	`OperatingInsuranceAndClaimsCostsProduction`	$14.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$42.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.95M	USD	1 Quarter
Other operating, net	`GainLossOnSaleOfPropertyPlantEquipment`	$-24.00K	USD	1 Quarter
Other operating, net	`GainLossOnSaleOfPropertyPlantEquipment`	$-80.00K	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$557.77M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$561.39M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$99.14M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$103.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$688.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$692.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-235.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$643.00K	USD	1 Quarter
Nonoperating expenses, net	`NonoperatingIncomeExpense`	$-45.00K	USD	1 Quarter
Nonoperating expenses, net	`NonoperatingIncomeExpense`	$-927.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$102.52M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$99.10M	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	$23.10M	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	$23.00M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$76.10M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$79.42M	USD	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.39M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.60M	shares	1 Quarter
Weighted average common shares outstandin - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.67M	shares	1 Quarter
Weighted average common shares outstandin - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.70M	shares	1 Quarter
Basic Earnings Per Share	`EarningsPerShareBasic`	$2.86	USD	1 Quarter
Basic Earnings Per Share	`EarningsPerShareBasic`	$3.01	USD	1 Quarter
Diluted Earnings Per Share	`EarningsPerShareDiluted`	$2.98	USD	1 Quarter
Diluted Earnings Per Share	`EarningsPerShareDiluted`	$2.85	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$76.10M	USD	1 Quarter
Net income	`ProfitLoss`	$79.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$42.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.95M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.03M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.74M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-181.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-2.97M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.28M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$46.83M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$28.12M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.01M	USD	1 Quarter
Change in other assets, liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.85M	USD	1 Quarter
Change in other assets, liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$10.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$119.27M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$95.96M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$128.41M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.26M	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$360.00K	USD	1 Quarter
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$883.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-128.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.38M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$907.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$2.20M	USD	1 Quarter
Shares withheld for taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.23M	USD	1 Quarter
Shares withheld for taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$8.93M	USD	1 Quarter
Repayment of finance leases	`FinanceLeasePrincipalPayments`	$4.50M	USD	1 Quarter
Repayment of finance leases	`FinanceLeasePrincipalPayments`	$5.53M	USD	1 Quarter
Other financing activity	`OtherFinancingActivity`	$-953.00K	USD	1 Quarter
Other financing activity	`OtherFinancingActivity`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.85M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.18M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$34.74M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-20.96M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.59M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.39M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.43M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.32M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.59M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$187.39M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$166.43M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$141.32M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.58B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.22B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.65B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.29B	USD	Point-in-time
Stock compensation, including options and long-term incentives	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.23M	USD	1 Quarter
Stock compensation, including options and long-term incentives	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.06M	USD	1 Quarter
Exercise of stock options less shares withheld for taxes	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$2.20M	USD	1 Quarter
Exercise of stock options less shares withheld for taxes	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$907.00K	USD	1 Quarter
Shares issued for long-term incentive awards, net of shares withheld for taxes	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.23M	USD	1 Quarter
Shares issued for long-term incentive awards, net of shares withheld for taxes	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$8.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$76.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$79.42M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.58B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.22B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.65B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.29B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.