Saia reported net income of $47.5 million, or $1.77 per share, representing a significant decline from the $76.1 million recorded in the same period last year. The results fell short of the $1.91 per share consensus estimate compiled by FactSet. While total revenue for the quarter remained nearly flat, edging up just 0.1% to $790 million, the underlying shipping data pointed toward a persistent slowdown in demand.

Freight Volumes and Market Headwinds

Operational metrics revealed a softening market for the Georgia-based trucker. Daily LTL shipments decreased by 0.5% per workday, while tonnage per workday dropped by 1.5%. These figures suggest that the less-than-truckload sector—which specializes in consolidating smaller freight shipments for multiple clients—continues to navigate a challenging economic environment despite stabilizing prices.

The earnings miss triggered a 3.7% drop in Saia’s stock price, which fell to $394.47 during premarket hours. The reaction was exacerbated by recent strong performances from rivals such as Old Dominion Freight Line and XPO, whose earnings beats earlier this month had fueled investor optimism that the prolonged logistics slump was nearing an end. Saia’s results serve as a sobering reminder that the recovery across the trucking industry remains uneven.