Saia (SAIA) 26 Apr 242024 Q1 Earnings call transcript

Company Profile

Participants

Douglas Col	executive
Frederick Holzgrefe	executive
Scott Group	analyst
Amit Mehrotra	analyst
Thomas Wadewitz	analyst
Eric Morgan	analyst
Jordan Alliger	analyst
Jonathan Chappell	analyst
Daniel Imbro	analyst
Brian Ossenbeck	analyst
Ravi Shanker	analyst
Tyler Brown	analyst
Bascome Majors	analyst
Jason Seidl	analyst
Ken Hoexter	analyst
Stephanie Benjamin Moore	analyst

Call transcript

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Operator

Good morning, and welcome to Saia's First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded.

I would now like to turn the call over to Doug Col, Executive Vice President and Chief Financial Officer. Please go ahead.

Douglas Col

Thank you. everyone. morning, Good First Saia's Conference Call. Welcome Quarter to XXXX Saia's me Executive Chief today's is for call President Officer, and With Fritz Holzgrefe.

Before Refer results forward-looking exact to meaning know may information Litigation that number that we that are during other press and of to risks XXXX. this may facts differ call actual might and uncertainties, on of this that historical should begin, These statements our call, materially. Reform forward-looking Act not and make statements the of some the within Private cause Securities a be all actual our more release to SEC risk on are and you statements for differ. results we could subject filings factors the made

the for I'll call comments. Fritz over opening to some now turn

Frederick Holzgrefe

us thank morning, quarter and Good for results. you discuss first Saia's to joining

has nearly staff significantly, growth opened XX%. locations in count new the allowing macro averaged XX while still to year, volumes compared of in with months, made the XX,XXX tremendous last and or quarter trends reflected employee service. remain underlying per to In an While our quarter, view, us customers summer. X lackluster past to enabling locations in results excellent per the and the new in us day We've our day grown first XX,XXX handle shipments last the our gains year-over-year share providing approximately our increase since approximately we

all our to positively continue trend I'm of expansion. key continue indicators as particularly our pleased to service see performance we

X.X% our history. a increased fuel XX.X% and quarter length hundredweight, per last down from million traditionally Yield any by shipment, also in of in period or revenue despite the constructive down surcharge, modestly is from a quarter quarter fuel shipment, quarter per excluding revenue for first Our a business. $XXX.X backdrop and surcharge, a reflecting first increased of a pricing X.X% XX.X%, environment per company's which demand record our was Revenue by despite X.X%. in in excluding year's increased headwind subdued slower weight haul

Our the result and positive revenue to management. effective per surcharge continues pricing growth fuel shipment be ex of mix

continuing our having of of the based discussions and on when are all away accounts our actively we shying performance levels, review not high great calendar. the profitability, With service from necessary not

compared Our first operating points ratio quarter OR XXXX. operating the by XX% our QX ever in quarter basis to matches posted of of improved last year XX posted ratio XX.X% first and in best our

to services to teams. investing the continue to in optimizing and continued service maintain we provide how expanding network the As line absorb haul with prior growth volumes compared our driving year, in our we've our the while also we

in year. Our as this with existing plans open done this year relocating remain, XX total we've XX to continue terminals also some to we'll far so X and terminals

Relocations put a offers benefits, the are better these also customers. better and the important better perhaps including customers part serve capacity an story serve multiple strategic new of to is relocated market existing to us terminals in added and position in often position

this accomplishing on the always first. customer an growth to are Our with committed teams eye putting

Mastio's been serve positive desire our leading which the recognizing success to LTL through several customers. as First of have in locations cornerstone Saia. Customer survey expanding are are have our footprint years. a latest our that for scores The and And Our the initiatives to feedback improvement customers Saia's our service highlight us couple included a of and is over results The and existing viewing ongoing national and investment in from more highlight last provider. customers continued of significant achievements new

but ability years in service, note. which to improve are of is service critical recognizing replicate facilities XX the our service, improve added new last Customers locations. improving to not levels new with X We've perceived in only to

I'll our now first from results. quarter Doug more the call turn over for details to

Douglas Col

Thanks, Chris.

year to including excluding XX.X% ago. slightly ex to $XX.X increase, X.X% X.X% to surcharge XXXX. fuel increased compared first in surcharge average ] X.X% Revenue by revenue surcharge. X.X% $XXX.X partially million. of per increased revenue our XX.X% increased compared Yield, to by decrease of Tonnage an XX.X% the first X.X%, increased fuel quarter per was shipment fuel by by mentioned, [ XX.X% Fuel $XXX.XX total in and surcharge, I increased weight to a offset shipment attributable $XXX.XX quarter As shipment. a million revenue and improved yield by

X.X% XXX to Our miles. length decreased haul of

by as miles fuel a while to to XX.X% few XX.X% from of the a count side the our increased and of year-over-year for in total combination X.X% employee in increased Truck in miles of quarter, increased of in were response the quarter. first compared note the increased XX% and result Fuel year total of growth year-over-year compared Salaries, shipments our of cost quarter. PT to models over the X.X% and approximately wages quarter quarter Shifting X% of a XXXX. diesel to key the items overall expense of company haul which linehaul X.X%. wage the the prior our rail expense result the and increased XXXX July in to expense was benefits volumes transportation decreased during of line by compared year. last quarter combined first and increased head revenue increase, XX.X% averaged also XX.X% Purchased

XX.X% was to from small in $XX.X revenue increase in was X% operating of revenue sequentially in Total The ongoing spends real increase and primarily first quarter year-over-year, in estate Claims year-over-year the XX.X% year-over-year was with XX.X%. and technology. XX.X% quarter million primarily million increased investments increased expense equipment, down $X.X increase higher due a increased of the quarter of compared an and due expenses to and by or Depreciation XXXX. and the premiums. the to activity fourth insurance quarter the XXXX

XX% ago. to year a XX.X% compared improved to Our operating ratio

quarter our diluted XX.X% and tax XX.X% the the earnings Our for quarter first were share year, in the per $X.XX a year first compared to was rate in $X.XX last quarter ago. compared first to

Fritz some comments. closing to the for turn call back I'll over

Frederick Holzgrefe

Doug. Thanks,

to deliver January, developed In opportunity on Our estate to tangible and generational what plan opening our our the and have customer-first focus across we pipeline our close company results spans real organization. we're for XXXX. to view excited as an continued build that XXXX

. As replicating of the it this that our XXXX, we we outset absolutely execute we service improve expansion stated from imperative initiatives in plan. geographic while is as

to As we customers, we continue network $X approximately better our expand for to our our and in capital expenditures footprint invest to be billion. XXXX serve anticipate

related past company couple of seeing capital These expenditure record long for the comments, Doug's the over in of of to investments create noted believe term. over increased As we we're the this we the continue will both investment as throughout the shareholders which customers years. value a will our and amount for approach depreciation impact our year

measuring expansion remain focused on performance plans, our continue customers. we we As our for

] our expand we Mastio With both [ focus on metrics to a clearly carrier, south us service The in continue cross-border agreement service Mexican facility, on better. a new executed emphasize our achieving advance [indiscernible], a have of our LTL service. been our our north a to ] customers highlight with bound. improved and Radian customer-first leading relocating a [ will Laredo focus ratings which we levels Yet higher service never and profile of internal with even priority allow

operating of we we advance Saia. business QX record million. increase a income the to quarter nonetheless investments did we The to several not in we in delivered increase ]while delivered [ pickup Although an expected in in that and organization seasonal still was XX.X% $XXX.X the revenue a see significant $XXX for made openings, XX.X%

As our and always, for shareholders. enhance significant focused long-term remain service our our to the coverage while we customers opportunity value delivering intently on to offering

before in quarter. and X relocating the our look probably new our included facilities we've in QX. results history success. open for facilities a significantly, alone, additional opened to and end X of the relocated as foundation to X we'll More We XXX-year Our April plan already facility

build to in that that but not However, history organization this engaged proving meet we we're a instead best-in-class rooted and a workforce, customer continue to can expectations. exceed as build XXX-year continuing are talented and stagnant are we

to we challenges over or blueprint competency that replicate due the and delay of we'll At service. important have this going forward. uncertainties. on necessary are and that After past The we of natural ] we always, many stage, great locations other critically core opening may of timing to [ open excited or staffing new as it want that flexible terminals maintain be the continue of we openings find pause covering As organically in years, developed these to plain follow the business. expect it's to additional locations. majority of cyclicality of this year. as flexibility openings we the XX to remain QX, additional our as We with openings our X mindful whether We QX these

terminal Establishing the a a that right a terminal is and and is with sure that great culture X all successful to from making step new get strive over long we openings. day critical term in

network uncertainty. to network. So grow the a trusted more acceptance as as be of time, we customer that becomes with will see to the macro as forward macro XXXX, see partner environment national poised At continue we certain. national to to is move widespread that seek now same we highlight continue this through I customers scale Saia's a should

position our continue As our a will ability result, to we are Saia long-term on confident for in to success. execute plans

I questions, like to release. for this Before we the highlight other press would Saia open line morning's

CFO, and next be Col, will retiring time Our from to chapter Saia. his pursue Doug has his decided

variety the Doug on has course past up progress. around As many big space help of strategic setting in of a a Saia our but roles, communicating decade. you with you well been with in and significantly the most in Doug over has Saia's been know, transportation of

us opportunity have and that a Doug's quite time, and Doug has In a basis, grateful great Saia through work I For and been him. help his we'll facilitate of team with. Doug with enough on work daily transition. will built for to miss to wisdom we'll with those at year fortunate developed the to am us with personally any successor, be and name the but

open for operator. questions, said, we're now With to that ready line the

Operator

will question from first come Scott Research. Group Wolfe Our from

Scott Group

you you, on thoughts QX tonnage the maybe know to just give revenue, great start And helpful career. Congrats on [indiscernible] as given a maybe around the April helpful monthly just let's Doug, give it's QX. always well. to and thoughts it's some And I revenue update. Maybe some Doug, trends

the So maybe just of out that way. get

Douglas Col

buddy, for Okay, comment, the Scott. thank

and the think the was up got shipments so been yes, a for experiencing March the ago, up but several from shipment a Good reflecting up benefiting not X.X%, tonnage has Friday left for April XX.X% That's that April days last was growth. shipment April workday a in in we So about here, year comparison. and I little per far, is running good March, of decline it's quoted XX% months per are few bit still terms a we months. in year. April this weight Friday

it's bit So that's little X% pickup, it's XX%, because that there. comp benefit of given probably of or X% an a easy a

so an easy a it's Tonnage of about in running X.X% per year. comparison April with not day April are little in a this up. bit Same Friday because thing, benefit far good

would that be benefit tonnage it Friday this don't because or we same to to probably the So thing, good April. X.X% X deal that with have

think far last QX. make I not seen bit us quarter, that we're saw we in -- the I what make from days little we've doesn't few so going in better, to feel as a but mean, a April,

say -- feel about we're little bit don't a I a longer-term it's seeing what trend. lately, to better we So not going we're but

in But say an us. revenue history, quite usually operating that operating standpoint, from to years. growth, COVID get if take QX kind out to is based XXX an better, the I ratio a we make ratio from mid-single-digit got historically, would of QX that, think to if probably No. you And I'd our better we sense QX, XXX on bit on moving

going not of already in though. come. -- gettable to Fritz to preparation relocations year, have more mentioned, this that's be occurred, so as but activity lot of a probably -- some openings far that So It's openings,

like revenue, So in see cost of QX. coming some that -- in advance to already of saw you're you the going that

to of or million and starts X get you You'll QX another probably in maybe flatline. step-up have quarter, to depreciation that another QX step a little from out the so following before

So that. do of we hiring you like before depreciation, a things open the some got terminal you

if did on we something again could growth, team to you little we'd year-over-year. year, you those revenue mid-single-digit So name that that goals. And for for it that. if XXX up that, be we points, a improve comparisons better I you'd good hit in, end this we year-over-year if revenue growth maybe can if consider basis mean, pencil XXX progress. probably than that with still I the we talking that income hit And if think if with up a pretty looking just did about operating us

do this for real it that mean manage growth up the pleased a I we in a But I'm I months. environment? lot So geared bigger in over year, March. a to going last activity, mean of few with people. volumes we cost knew think be we how we lot I was of

didn't And through, they staffed come when when come didn't you're for through, it. they up

hiring drivers You're expectations. seasonal advance of your in

You're hiring I did things the come a could we didn't on dock job like cost the that, mean, we pulling things side, workers. as PT control. in And volumes good March, through out,

but business, So to it's manage the the change day. in variable a good in to every there's draw it spreadsheet, up

any something. XXX path we to still I we And QX, doable what numbers But yes. this didn't outlook. and QX we give us could our mean this here to at get or won't worse improvement that's improve in macro [ ]. we the basis a QX points QX, up the or we didn't into but from But look get OR XXX and year don't pleased, mean QX we'll -- what been things year. -- still -- just is off put I've I I'd think we deals knock So us see the -- when

So that's today. our view

Scott Group

sequential The $XXX margin improvement, $XXX million million, to correct? that's

Douglas Col

train these And That's these QX. to step until go. and in the up people we got them. possible. ready to face, we and that place put and looks them don't make QX -- open depreciation in I Again, we're what investments

X that We So our fluid, this I there be going and nonunion these customer. openings focus want those transfer first to ] -- these that's and be of we're Saia -- all that employees the our up to we're really always but are employee our are on [ with non-unit pleased staffed we that real culture first X year, and there pleased people mean and stuff consistent.

we're So spread Saia new people into open able them to message terminals. that real employ be with we're pleased and to going of most customer focus the and

a it's on kind just macro the well. freight still a So It's going shaky side. of

Scott Group

know getting lastly, just is overall, maybe don't maybe harder you or then just the share And and about renewals gave talk what just pricing. maybe pricing I number, that if -- not? your

Frederick Holzgrefe

something intently is focused environment on. pricing ongoing an That's we're

number. meaning X.X%, service deserved renewals that we're in Our contractual which to were be not we -- we're the satisfied quarter -- we've number, with that levels pleased got that with But providing the that compensated. we're

ongoing or of focus And have. an that with mix opportunities so as we the we issues that is see business

-- continue that. that and pursue of conscious we're very We

don't position are get in rate levels I the you're lot network. haven't expanding increase you're We a rate the think to customers to point a a and -- certainly, in an but increase, stronger to position customers the when like that service getting

Operator

comes Amit question next Our Deutsche from from Mehrotra Bank.

Amit Mehrotra

congrats. Doug, been remarkable a career. It's

do wanted to maybe the you're you down the and road. So going questions. couple of ask quick a to whatever wish I best I

impact. Can those you had they're bills ], you network. terms middle you however positive up think, you important kind a The very, quick to ]. about on more, about of, [ seeing when I can very opened Trenton what the opened up X you Buford -- probably or couple talk per recently, those [ the Fritz, Garland of a bigger other mean but I talk benefits of obviously guys just ones. facilities in couple last from a there's gone? in how want are day you're more those and have first year, know you one giving what or of one important just I terminals

Frederick Holzgrefe

both. you've more Amit. got quarter Philadelphia, service highlighted from and some on Thanks, particularly important side, we're important early, Yes, well. as York for facilities New X positive Trenton, it's ones, the impact trying were and to a we this making we've that but service opening certainly us Yes. it's market

weren't like as we was be. for as expensive, customers that our So and to responsive we'd

be indications for that's investment to great going early a us. So

but I being -- from that's pleased. -- by And comes terminal there it's sometimes experience Saia -- a up, the really led to we're So it start. know mean, manager important note, I Saia

to -- we service. when culture Saia terminal, replicating moved with into ready and that go we -- of Saia So we side were

early really indicate would early, So as that's exciting, well. results that

[ big that is also in second Dallas ] Saia's long We The was experienced facility the market. strongest that Saia [indiscernible] people. Metroplex we opened arguably staffed by opened time

provide So exactly it they Saia. to what means know

it facility on couple So proximity I into some to this, we're only before we're need [indiscernible] results. let great the us I still you see. customer particularly thrilled accounts important for its give early weeks to because a with any the I acceptance, of to but and better. develop of mean

You're and do worked that a they're with, with business somebody great that's opportunity it easy to well, for you historically to do us. they've talking and

thrilled with investments. we're So both of those

Amit Mehrotra

just and double-click to a then fuel you're over there's And pricing wanted I for to sequentially profit ton service fuel, obviously, and opportunity. per X last And per quarter, shipment story ex that going been then the was Okay. really ex the because on into the has revenue my pricing follow-up per sell surprising which at focusing well. is revenue X, service. on up question, the [ big months ] fourth initially but I somewhat shipment the And lean as the look was -- versus down actually discussions that when

key wrong metric us fuel? working ex of strategy that's give is into feel leaning the on moving revenue because just on that a of this what's you a what's I around doesn't the when little us happening like pricing kind direction? can bill the read bit in comfort But at And negative it underneath So despite help per there's surface. look actually price understand to

Douglas Col

of and optimize a be pallet lighter up length can or freight national I trend, back shipment of a is still go one. shipment got getting think it's carriers cost If use from bills, accounts and But account this the mix highlighted in account tag be same Yes. The the X national haul direction on Rolodex. wait If customers primarily the The in Fritz, now Atlanta it's shipment, of the the I'll getting probably trailer rate year-over-year. our trailers I larger when despite or side, and per to [ give X. [ the the customer And same weight, And the ]. and with up X can maybe X you I they it. they mean, feet. per the a are Revenue or I'm ] really same. sophisticated, can to some the matters, to sequential Miami, one explained day their of different my that one instead can me shipments. but pick I've more I so these leave XX rate, I'm getting Miami for Atlanta economies

I there. get economies really good cost

sequentially was per per to shipment So And revenue shipment down QX. was cost down QX more. the

So my picked up. margin

through to lot top business, we'll just I talked major come industry a and across that going to working it thought optimized, And quarter, saw call, said just mean to in of last on we're we're we bottom we'll in go really with back try and the looking do out get this managing some quarter. fourth because industry, capacity on more the discussions has our our pulled competitors. I for hands. the on profitability, rate. we QX, it. us, focus our But sit of not from we're seeing being we're and our we're if I And that not you like at again And So forward.

our everyone view line I is holding in still pricing. the think on

stronger a us this backdrop, been macro give I've watching stuff time. and say, you if a I long still But

pricing. another You're going up It's any of not this do to to getting cheaper see what do. all in leg us

But... get when our get we'll more truckload picks friends. the some price. And up, So go to hard mean, it's ask I all some price get sometimes. go -- freight

Frederick Holzgrefe

we I to mix see a bit talked got of really I last that add points. of lot And how the you of around kind the summer, little Amit, if by industry. freight I a mean would to to competitor started when absorbed think back that a would the about -- from we that, go competitor couple bounce disruption as

by little same on service I think a continue seeing see an time. us to seeing also you're and that. intense focus deliver bit the you're to pricing of I at

that service to isn't inexpensive So deliver.

after we would nuance I a go that. that point lost. sure make we . But doesn't here get out there's that So hopefully

getting sort and some QX As Saia scale develops cost of from that to leverage of that network QX. we start the saw you maturity

sort shipment the that would our that's situation to You we in as -- develop noted of I maturity changes cost our the business. per unique

the We good turbulent density, an route linehaul build density build have in and it's some around network pretty underneath that a opportunity that environment. to execution

over time. So those are important value creators

Operator

comes question next Bruce Our Chan from from Stifel.

Unknown Analyst

Matt This Milask Bruce. on is for ] [

congratulations echo industry as to earlier year. sort think that's and the LTL on within Doug evolving the we'd So your Curious well. competitive get overall to this you thoughts environment how of

Douglas Col

people that's auction, mean of that put seeing are terminals. capacity competitors' on think I a have until yellow in kind mean don't I who been sidelines there's and consolidation, right? lot not ready it the mothball results we're there lot I been lot any so since of far. an A of Yes. open it of capacity really numbers to the a hasn't It's acquired. there's seeing has We're interest because up change. in

they got So or Fritz demand tailwind trends right? stressed shippers need seasonally then But a if and they tighter Mac high and commitments mean it isn't want little I develops, like other their as becomes then don't service softer, really I well, the as want great. standards. So we're picks up seeing they change options, said, are any freight the when than aren't think now, because right

bit carrier said, see continue get Fritz people that, for -- you're I So while. little we think to a this a trying to going of until like

actions probably that So there's going out And think that's going on it carrier. works, I try on, competitive think negative. but are there this don't I

Unknown Analyst

back half as of of really in thinking some yellow you start are how secondly, to And games? you this about the share shipment enough. the anniversary year, growth Fair

Douglas Col

in I before that comps to other little markets I half and parts what that. terminals in they us for of like the tried to in and hear they've tailwind used that. in options. going new up us the haven't the about Well, growth these call folks look, mean, And ready have after of macro and in difficult back we're will -- mean, terminal like the I of I a then country, for of we're terms up But so at to turn mean, forecasting step not a and that be us. and -- get anything going bit we're our we all August are Others and But service that. from to not a start July, and or new take our got have idiosyncratic openings. putting been shot in like service, especially a

Frederick Holzgrefe

in how number think have we would and But -- think the point pointed be. the these on we And the shown what of be mean, was or those marketplace. the to opportunities what service. kind execute in the what solid an to despite are And of time, mean some get we I we spot delivered in core as the that the of thought shown same I the I that that it question is really first deliver can going to at the I out, challenges results light we've know going out mean like Doug we're quarter. was saw we're But to growth facilities. in where opening, we pretty of -- not new might look that be. what not legacy or execution we sort might might we've

we and rest execution about in core So year the I feel good pretty potentially of might do. our what the

Operator

from comes Tom Our next UBS. from question Wadewitz

Thomas Wadewitz

as to Doug, you well. Yes. And congratulations

You've with been one great of the the leaders growth story in years. that obviously, key over Saia

So congratulations to you.

guess, wanted of of have Let's up capacity market, you're you how like set maybe sounds of your seems less of on see, -- lot a up which you the pace and -- do that be how Or already it kind of that open what is? margin we might in people. just you of openings, also but that be it the second if like affect on to, with does how ease of How affected How it's up seasonality, maybe is do of fewer quarter? about freight kind much margin dynamic looking in to with you would that pace think half? the second of I outlook what some if it, than people. much you would be pace flat normal out you a ways, It about openings? of that thoughts think kind the ease opening. on a And not And get do I staff seeing little obviously,

Frederick Holzgrefe

Thanks, Yes. Tom.

this simply multiyear think we I impact openings, opened these all open it to there The it Saia ones return, of are and investments, intent are quarter quarter inefficiently. that extent some an in for markets are facilities Garland thing that key for the as or XXXX long-term we We this that doing XX-year already sort Trenton horizon. never that these was next quarter. serving view as of we're these

to first ones opening for all, of the us So and us lift service those immediate we Those to also our cadence. some customers. There's opening going business there's cadence facilities of because, in sense our going to be be are for kind there, little in big that are of made cost -- incremental savings.

those we'll August we'll haul sort the George, do terms ones those the Utah open And August. to open ones. the Montana of us, purposely some the minimize of The of inefficiency of -- because already, actually We've there's Plains network -- September. that opened July, remaining in for timing and line in of remaining and efficiency do We'll facilities, it's St. Missoula, Great opening other in that but we'll a having together. part those each nearby X

those. with of Saia mean and all going there. not but ahead opening they're that and customers simply, is with that's entire material, with go I we're it Missoula, we're you results us, with an There is really for they initial experiencing know is that I the customer for side dealing our the So say, have demand early Montana pleased far and exceeded to is, those. a business has what expectations, like would

So to -- Plains are go that weren't value we and one. right, the Great consistent say, before. that all there service maybe that then after remaining getting are states. small it's ones but customers look at These markets, they George, we Utah worthwhile is that another St.

for sense that makes open So ton a up. of to us

there sort opportunity Now them. at we they make. the OR on the I the we're are be But the if And on they to business, be the of this minimize in are and a to that focused important to same are can But think need balance not -- we of lift customer those in on year. the ones cost long-term think I the may big investments making. the time, really really investments

to But So pace. or to inefficiency cost that we're value going that just are to for pursue embedded that continue these them. places look there's continue going minimize we -- absolutely. would obviously could much to not We're on that avoid, be in too

Thomas Wadewitz

freight points it give you said, the would [ a having couple tonnage? shipments service on you on universe per ] like of that or openings thinking assumed a been market, much how if Is flat your So center day

Frederick Holzgrefe

as tough it's big not New is to Yes, Trenton, or Montana matter. say. that Garland Jersey for as Missoula,

in us for call positive that's the of freight think to I it not the I'm really macro market. balance position So the year. a

shown to think openings, to pretty in able March And do what is been slower mixed. even probably remember. I story syncratic [indiscernible] and we I can these execute in we've with think times. we've But it's important

Operator

comes Morgan from question Barclays. Our Eric from next

Eric Morgan

the in Congrats Doug ask wanted coming I to guess I another on below in as to well. quarter. expectations volumes

this it the on earlier, of more outsized demand is would having you you given Or kind strong a is your push Just year any really price number broader say just of story? impact renewals there? pretty gave market

Frederick Holzgrefe

of returns I think mean probably to Saia I it's value listen, out market. time, shareholders. generating and customer we're focused the for over on and our But following generating

expectations. we stay on sure those volume we on X stay We So don't meet fixated making numbers. fixated first

pricing and So mix that. if push that's incremental thing we'll working there business, keep for are service because going committed to to but work think the expansion continue of on we're our level and we opportunities and only I that, to

Eric Morgan

think on going to on for a full Appreciate an ex -- per changes you fuel? is follow-up mix benchmark just impact that? still the of Or some to is X% the year that. revenue some X% good shipment. And have of a Do that quick the

Douglas Col

turn. the I is account the on mean, right? what The share We'll cost saw a ] that I'm did mix side. we QX, without as much crystal We'll good I didn't a table every spread I as on improvement, revenue I job after a like in work [ had not get It's But right hoped. pull ball is customer on at pricing discussion to So the said, I we're profitably. per managing not Yes. issue. operating probably as what confident in But the now. doing that. like macro,

here. mean So can get that's to why full I was we for basis think get the up, there's parts to margin I XXX year. moving that's pick still I able and why the XXX points

economies go if the some side. when the I then of on margin So there, that's I me volume. works side, it kind cost for get the on But

business trying do. the we're growing to than profitability growing what that's that. We're we're and more mean I

you volume growth I still mean, XX.X%. what mean, the many business. didn't us shipment seem are I've we side, think I that's yes, quarter, to in had don't know other like I doing others report, expected. But and together want for the the I how most transports, heard up come the for on And March that. kind in of

work on and right we're business. the think inherent of we'll through kind our in is we track, cyclicality So this

Operator

from Alliger Our next question Goldman ] Sachs. Jordan from [ comes

Jordan Alliger

with you have in and get question. Just a the the cost that ability both folks driver of terms terms the point. vote? quick inflation see attracting do you from perspective of is this terminal expansion you What the much in need And that to at plans a Curious among there perspective?

Frederick Holzgrefe

That's good question. a

our got exciting to our in these team. facilities always One career and things balance good as of we've about of one of is we've at is Saia track of coverage provides going what lot footprint, the the company. new adding felt things about the that that a that And the seen we facilities really add high we've this performers

as to -- from key balance company. facilities, so those we've look facilities our part we leadership in staff been open of experience the And the roles able to

helps set That set great. been that's the -- [ it's So tone ], right?

market recruiting first other staff folks the the fill when they drivers then these you you've is that know our get to or the and got, of what facilities, of is. recruiting And doing and into all, are what Saia culture

market So we're And effort. folks, recruiting to always, competitive. that's when recruiting the important we've of part stay as got

company to growing culture. focused company, great recruiting a on are very that's advantages. place a work, great Those culture, got You

and what people very and trying there success of You a core and in do. and throw values with we've staffing our pay that kind benefits staffing understand package, that to had competitive we're

able we've front. to real we've So been do with that been on pleased what

growth important So our story that's forward. part of going going be an to

Operator

Our from comes Jonathan Chappell question Evercore from ISI. next

Jonathan Chappell

you last you've growth of of a putting new lot type on So XX the over customers the obviously, with took been up. months, shipment

to the to these customers been a types value of the with your of different discussions . some different there's vast and them, how discussions obviously, around these comes it get for pricing As array receptive But customers to service? to pricing of try freight.

Frederick Holzgrefe

Yes.

-- we'll double on Jonathan, this up Doug So and answer. I'll

one is the cases, in customers with the the benefited of one of the account that that we from national that is keep just we on So many in yellow. disruption some mind had early of things with shared things

were were they So that people us. familiar with

came picked there So as that along up we were with economies pickup business. up that we that picked of -- new some kind

understanding to appropriately with the As that we've sure and better these developed continued relationship and that And what impacts they're getting, into that. been of QX freight around developed around what are. being work further that we pricing value we're the QX, mix understand QX the the we is very customers, have -- have a for compensated and make in service focused customers our

And customers hey, we this other as else pursuing we've that have prefer decided, they're cycled of through maybe result something some options. that and -- these a

what in there's that see there. traction part value bit you in I of the a to us more little see bit and starting from customers getting think they're stickiness what of also are a But see you you of So that. our results that is

that. So we like

us. opportunity think that to long-term for I some speaks

Jonathan Chappell

cost was it than Okay. want sounds full aligned find said, on But like second pin about Doug, going this. basis quarter a on track that be seasonality. tune just to in mean quarter can you follow-up, XXX ], seasonality better that a of front-end OR to thing Does the don't business like a you're throw second keeping on off, here. the I this typical of the year is second But the to the maybe term but focus starting we then half that points quarter a probably this Is if lower if you than into I quarter? like And type people track a [ the guide put the takeaway first point, like year? to hear. guess little lower real loading mean even it is in back key know doesn't how I that's works, short we'd

Douglas Col

and of yes, there, It I a was the mean, these calls these revenue. on but this costs historic all the the we're strong today. March. have and Yes. as seasonality, day We open big mean opening some all I the I out would QX kind I grow below in of normal them fixed costs X, range. opening to in have get mean, X of cover in we're shipments momentum on want was side without of QX advance didn't the on side, range. terminals we today, volume the I And but better be the all be the OR

they build quarter from opening. we X, as out quarter year, expect throughout a momentum come absolutely after that the the pickup and X quarter X So to

So there's that. of some

Frederick Holzgrefe

too. think have think to I you about it,

We're So a freight opening Great going Plains We've Trenton. We've we've Laredo we June. today, facilities going handed in got block we're highlighted just often to -- opened -- -- gets open for of off. you, and Garland. we're to that just opened

So that of revenue. becomes freight XXX% Saia

our and into of travels I of we from to when year. perspective a the going think that's know certainly And opportunity that's customers, is And Saia pickup revenue the real it's for So what wise the value on get time. second good. for service a XXX% it our half we're a equipment

full what we seeing kind of you're what in about the year think result. that's So

Operator

next Our Stephens. Daniel comes question from Imbro from

Daniel Imbro

to I to you've Doug, on or want freight yield markets? third you're the start those new still long you capacity shipment towards so that first-party find rate? leaning much and we are congrats When per about mix. And then transition adding, you And think on brokers metrics? is that mix to stay in added -- impacting how parties or and take the on reported the retirement. revenue it as how density would freight the

Frederick Holzgrefe

of by broker a markets, thing But Yes. started. we're with. the helpful to -- of in business doing going we're And maturity and mix that's that growth really new customers that own sort some the now, of this driven of business the Certainly, sort part get lot exciting. the is fuel what's that have is lot and in network nice already is that growing maturity we to business right in a our that of our what's markets of

also not you you -- If those biggest Great go that do we and to But and if Texas, granted, and the are [indiscernible] and we can you full now Plains customer customer a coverage the that. can to offer pickup customer if the Mexico and also got go the cover go to Dallas, even Great can needs maybe markets. to and Plains Trenton a

an more now a that count to service. move because, on for You're on list proven having that customer, us partner we opportunity you're to the priority can up -- can frankly, and replicate where with them. with do LTL them And we've they strategic more that much

to you held say, per business do quite penetration a going transition It's to with know need. have this, who So that And I they guys be we I with of that further se. customers back the think already customers us don't part have be going more exciting mix coverage then not about because it's are. the

of will -- part value And do, us. or for really and we that's Now the here have. interesting

Daniel Imbro

mentioned risk and as how, outlook, you thoughts softer I your you then And tonnage I'm as headline lap trajectory? the But about competitive no know growth great mentioned -- a price. just good a you for kind grow response feel think ? we their yellows, think headline one. helpful. your That's ball moderate, longer-term that growth and market slows? maybe. on maybe now How the ability the And one to obviously if last the others changes crystal of you right get price the do had curious yellow, more broader the you growth industry Do all, the at in industry

Frederick Holzgrefe

an of really that think a think the business, business, industry this things One of I look estate, equipment those things, the inflationary. are inflationary that business -- important. costs, that's are all those things so right? the landscape couple costs, the it's a that is across of all And fundamental employee real And a costs, there. the it's business, you if business, underlying driver I understands that surface

at other a price fundamental does not more volume create lower is that profitability. The incremental

another element of that's business. this So

there's that So I landscape. discipline that the think across

concession we That's for doing we confident because providing with differentiator feel is we on sort own our can where strategy, overall, that know space. control expand as is things us. around what the or I the footprint, industry, in Now we anybody that, a I service price-led of I And that sort of is driver the think for a the we our we team don't will to that's think, that benefit. value see customer. think But that, price

to the I discipline remain. So expect

Operator

from Ossenbeck JPMorgan. Brian from comes question next Our

Brian Ossenbeck

Doug, whatever is up you. with congratulations all and for the next best

market bit of the sort But think downside, that's truck a on consider LTL. the about broader the been been all year. at the encroaching think The those helped competitive you has do Just to and bit business. yellow wanted you the market has would of -- lower the carriers surprise freight market ask quarter longer to LTL truckload Obviously, general a disruption do dynamic. given what for more you

see little this hopefully those leading might indicators would otherwise so therefore, bit as network think. a of that of snapback And rest progress specific better to you when get than that you And you any maybe that the year? we is up, for tightens your

Douglas Col

LTL guess side freight. on know that, favorable product would of I Yes. about account of more the truckload much I to customer, very per freight. their a carrier it out it. difficult this. some opinion LTL I truckload trailer environment strong speak how figuring pallets our our right? and on sophisticated probably And on now. of a they shippers does, to is a rule, as have a advantage handle the a what be know replicate We very the we pulls truckload rate carrier I volumes ways don't don't basis an competitors mean, to don't broad encroaching national meaning beyond truckload handle of on take move and

You need different assets to do that.

You need and that. terminal network a dock workforce like and things

has advantage more longer individual lower -- ways and But think consolidate they move truckload to things taken pallet customer it an break for this I of out the longer figuring do environment and it. and down to before move

different other of around all benefit there's couple has that election industrial to truckload who example, where going smaller So complex environment aspect. just mean then yes, that, I that an of on knows for years. weaker. backdrop multi-stop And expect carrier like for decides next some as make that better a tightens we'll get maybe a And us. be year, the from get freight maybe primarily of But -- yes, or a something regulatory up, I something. the been a energy over better or you good stuff

been has all bit. and full missing, that's We're benefit we the And is example. moving industrial a -- when energy all been missing supply chain and for

still like determined, things that some out So there see. we'll to are be

Brian Ossenbeck

I the the what fit kind in cross-border on help term, the on with -- that does of Maybe the short you in you, Mexico and elaborate that can longer Follow-up does the partnership business. Understood. I term [ for years? just guess, next in of sort those [indiscernible] together Rado market the mentioned you was relocation in think over it of of partnership know of general same the what the and that in were ]. that in tied couple

Frederick Holzgrefe

Mexico into that view chain, Mexican at pleased just we're in customers thrilled with provide real carrier that -- of on is estate or layer and continuing high-quality north cross-border and investments as that Yes. position to bound, to seamlessly that a reshoring. opportunity we very shoring with But near we our in we facility a Listen, one the familiar we our the -- that's there market the that the south opportunity out with with we're interesting you or the what the service very for supply you partnership opportunity. of a of this is key with your can us. auction, Laredo look real part if think certainly, -- made think and And depending develop what we're on to partner really

see that very can that's sort supply significantly, level. and we're Saia good -- they service with And at a them can play. provide that to now that a of most And more efficient, a for that and seamless a high-quality makes for much place chain carrier that someone's customer,

excited We're opportunity. that our part of And Laredo a part important up being a about of the about excited we're how it's So more with investment. customer supply matches chain.

Operator

Shanker from Our Ravi next Morgan question from comes Stanley.

Ravi Shanker

may up less Yellow lost of capacity its the like that message kind little leverage price I that, operating in of kind willing ramps take a a the bring later in kind be increases? add order appreciate hey, by a cycle of the and losing to and it's resources, take be to the of to get the new shock near the shippers of bit big some even industry the going kind that's going in kicks term. there if on to is risk to time facilities But everything drag here time the is and on,

Frederick Holzgrefe

a always what I idiosyncratic at Saia years you -- risk. now. opportunity is for as you've or if I us what I is, kind Yes. this mean guess our look of there's with story followed

been to and or see look high at levels, at at an There's still think as at we -- are And and us significant at shareholder has service level quality opportunity And there. our that. to make for also a look a as paid at opportunity our idiosyncratic get there's size of service market pretty industry more at -- you partner. you strategic national levels focus to and that the of customers around industry are going paid footprint want define market. for you Our I making how a to look competitor, Saia sure and for a value sure Saia's in driver for an

So And the assets back industry. sure are remains yes, absorbed if always I'm industry. make as will. way situation actually all the that assets Yellow certainly, not their are or the macroeconomic those there you -- are And And be think I they exit in there to industry. seen to point out, -- that the as those

still us, that the for particularly. constructive remains And think for it's opportunity the think I I I think good. industry,

Ravi Shanker

been Perfect. you your kind peers, And hearing these follow-up for are kind doing maybe rollbacks, Or of in I your particular, them price increases. peers environment? . have kind as take very sticking? are of the and big of are pricing. to any some happy a price But mean, customers I know all of you pushing on increases new

Frederick Holzgrefe

don't has not rate I anyway. feedback there's -- think increases. customer Listen, around positive be to It going a a

can on focus. focus if is we doesn't make our additional lower adopt what I think what's the I most this successful. if similar we're that critically where that's industry, And because volume we to of level rate is the across that sense. the And important, fundamentally, this rate are maintain of increase, trying kind service justifies and you strategies look people at kind a business any of think that's

that of don't economics work. the So

around disciplined service I that levels know So we justify are, be . know I the think and I to very this. continues that that our industry that.

Operator

Raymond from from Our Brown James. Tyler question next comes

Tyler Brown

just we employees. to come can Fritz, back

curious productivity is place? training feel turnover trending? back, your just bigger you my this just step you it frontline big programs I'm easing. particularly you whether I'm do how the So is how dock But growth. in a through how are are about it as on assuming be taking about that go of And concerned service or that question, is season

Frederick Holzgrefe

Tyler, broke make let you for up bit little sure me a me.

on our your beginning about asking of employees frontline at turnover the were question... You

Tyler Brown

Have connection, yes. but a bad yes,

Frederick Holzgrefe

at pleased engagement we're focused employee of a the driver our to No. mean X Saia rates dock see engage we we've turnover the not year Interestingly and employee a on and enough, was where that of X turnover. And would out experienced really higher seen I do engagement score, last ago actually is been and around measured ever. of down it's come retention years fall, at scores. from we kind highest been employee I or it surprisingly, lot What periods level levels we our or level very -- have efforts.

So that's been good.

simply and a keeping leaders you people things cases, that churn us. to that certain on service, down safety [indiscernible] off doing with very that people us and to of that facilities new we're spots these continue and we've on that gives that's those a because I to haven't for our frontline engagement ] recruiting learned industry, maintaining of lower is focused mind, because consistency deal drive focused , dock us But in -- new the all ultimately few turnover categories levels the many that, think training does most bit paid do and -- culture. see we've of okay, for to us that our that that our very we frontline on folks LTL staff in they high in pipeline a we're we now And think seen helps the on reasons, it and you of an important those do what have that work? asset of been right? helping sort maintain in for So our -- that team continuing are [ product, around also It how leadership doubled that that's supervisors. things have a on a we one of the with

we something simply pay that because a to important. daily -- So it's on basis it's attention

Tyler Brown

that's And about Brian's then No, great. Yes. to Mexico. question back just

Canada So lane couldn't today. I a -- any of just big if few a years if lane be struck recall. back, in kind larger? there not how I'm Is Interline if that similar you that equally, reason I'm curious this is not mistaken, deal

Frederick Holzgrefe

Yes.

Canada to to be Not opportunity out to back I'd is the Mexico certainly in would than this the think we've that have you the over transparent breakout what be been of important not cross-border much going customer how on concept what's on But to that and I the the Canada. is is get in of us. stronger time customer, has consistent. for experience important Canada that success Canada. and the is predicated -- customer's is had it's that basic for

those their and and those Mexico. We're positive. northbound the going things, do all know they freight So going they're they a and Canada, track in to see that on goes the is Saia, place same it's follow it all are into and thing

what's probably the than in time And I Canada. is Mexico it Simply north think state into about with large the is south supply near-shoring, bound. different there over materially interesting it's that opportunity opportunity the of and the chain, is

how Mexican with So experienced focus systems, quality high-quality we operate. service, and high-quality on match thus, with our partnering particularly very carrier about excitement that, to an similar

So we're interested in really that opportunity.

Tyler Brown

Okay.

I if breaking but Sorry apologize, was up, congrats. Doug, I

Operator

Our Susquehanna. next question Bascome comes from from Majors

Bascome Majors

this on financial line, for forward? time if ahead hire maybe move terminal cadence is thinking transformational the side Doug, and on now the want step color that could And to expense openings call on -- strategy getting you some the Board's company? to taking on and add give months and us then an the you business further update you of interest back, D&A kind maybe on on some with the the Fritz, of of months X the a to last could XX time you're visible the cost XX why now to person the since lead just going

Douglas Col

you give color around bit more modeling. little the I'll a

a going On the the to of you we've if said, we've We're step-up kind service mean, forklifts QX already QX, include few in coming year-to-date, got units, in D&A more to I and of side, to get X,XXX go. next of delivery another like tractors trailers, equipment I months. that lot taken

a a like in revolver a cash this in time some to [ on, income use step-up our think way little have to maybe I to that, probably we've long depth it, year think for is the QX about so X% XX% depreciation before maybe probably I bit QX, or first and slow. instead QX it up, to time you and in all right to first So going of less than sitting about step time, starts in interest the the we're too a The while. another mentioned, want ] little been

you model for need So there'll component be an interest to too.

then in million that in little So flow maybe the it are down second kind modeling $X a We've that. and it. should probably quarter. thinking follow of cash in of I'm And after trend historic bit the stronger got months seasonally

expense and So bit depreciation of interest like through that deliveries a step work all little we these said, I up. as

if the right you probably X% take and line is the like a and maybe The I've you other said, -- thing, and the spot. on X% inflation, I little a mean, get trailing the to X or on insurance inflation that always volatile quarters claims put

the on that advice. I in think modeling you've use been if you'd QX right number

that's all, we're on there's like said, in to So probably about But Fritz cost going share that. inflation the business.

to year like you're things care inflation take that. Just because a wage or be is mean environment costs, health off softer, going on doesn't to the able

second last we're to I with for we the over term, a few it I lot as we and we've long and it. numbers question out. looking it of can going at this, Do plays mean, that we're And build though, what days. doing out building the see would your to reason like the point what we're been maybe be

our business XX For regions. example, across manage we

had a handful what's when we long quarter, regions, for has the We denominator. a the it's common of with and by those of XX expenses well lower there received So brand of coverage. say, been customers. for regions our great a It's look in that the front-loading at those we of a lot first our seasonally operate growth. quarter and [indiscernible] Well, time

revenue. get of some what, more And share larger peers. headline, X% we with Our our our than industry competitive guess -- of footprint our share

got that a So like regions this, quarter even in we've sub-XX. are operating

thing to goal to XXs. this whole look our the So the into lower of those like is more map out push build and regions

think to about. So something just

Frederick Holzgrefe

terminal Doug's a terminals we And -- the it's would same we customer that that of I we've I a the that network we do a at our can comment. there's market. add, that shown in of things create XX lot both it on know to just how to of how approach for and mean, last the Saia for mean is building add one to kind can value time. the and I

have all are opportunity terminals our we we that of the a for in decade all pipeline that this think us. got So ones have of year

. pretty about we're So them. excited

Operator

Our next Jason Seidl TD Cowen. from question from comes

Jason Seidl

congratulations. Doug,

jealous not here. on long much expansion circle older got lot of I than a ways going I'm of few on talking there's go about You're me, One, wanted me. retirement. a obviously, so ahead things. a you're back very I to to

'XX we openings very You're terms comments. pace How the should and in opening of key more little looking the bit expansion up back to terminals. to then, Doug, a think with some I about wanted to of out circle

that asked the Somebody seems the or just marketplace. It tonnage like you don't think or the answer correct. be want I space pricing? about either to significant impact cloud questions the I on a has sure LTL in marketplace make asked truckload had your got

Douglas Col

be it's opinion. volume gets ours, a guy's our personally freight that just mean are I'm going freight. business just on. in lot shipment is sophisticated, move or truckload a that not could out tool that multi-stop a to The groups one but it's have management that's they're on. truckload And are typically more way move, and to to shippers truckload very down they've Well, than certainly different of there's saying think equipment. type driver figuring I if different the a technical. handling transportation don't before to I used going it handle got .

be to facing because figuring that But they're having I impact. shipper the advantage to rate favorable a believe that that's way themselves personally TL to too. So environment a that, inflation, out of hard the might take big use find cost

I'm that, in -- retiring that's that about, but know I maybe I'm So I'm look, to because seems makes it sense. talking don't what maybe old But my opinion. me

Frederick Holzgrefe

Yes.

terminals growth competency time particularly of or multiyear we the lot XX been the first to a If mind. ago, organic you expansion, we've sort we estate developing conversation do out keep Yellow a because around couple question we've XX and core around of have so things were the a telling on -- free expand real year how our of year so we in about having auction, And the this a would of about spent got terminals. pipeline

in And open next They going through We're continue year. we're pipeline in a auction, them in will a of which had we to about. we So the year. XX that of the number the yellow then excited facilities came added there. this

openings not. it that how could that in XX, could pipeline We'll be see is it there, potential the year, goes. be Next or we have XX, somewhere multiyear. But

going think have. once need we to ultimately exact end we're have of we footprint year, we I to pull don't on the get this that through And the think

that think as facilities I you'll us and grows. see matures network and replace our upsize to continue

that's So our important an I story think of that, part multiyear here.

there's think So I us for that in next facilities. the growing opportunity year around

Operator

from Ken of next from Hoexter Our comes Bank question America.

Ken Hoexter

congrats it to side. get I'll try move your sell throw Doug, really to back the your know we retirement on is in what or all to

rehit to we some what versus can the kind engagement customer large just kind I'm talk Fritz, enterprise came that it that. the luck on addition trying know, about just -- and away. you of to, on don't fell and due volume on good then understand So of quarter I business decipher back happened weakness want the of volume you in maybe the it was I Was pricing, what side? in in here Yellow maybe customer, parts market. of see to

Frederick Holzgrefe

the So earlier report GDP just just macro that of this GDP highlight QX kind the that of out I kind situation, So just right? week would was said came X.X%. that

environment, sort say kind would that's that, a of soft mixed of anybody think I environment. macro maybe macro

of modes other are seen you the I think other overhang in and and there that from out you've I that So such. have industry. reports competitors think for sort And that

see there expansion. think I Saia as on. is I think So see what our own geographic going around the that And initiatives impact . specifically, our you you of with

a I of in stronger we that environment, thought our the we ability was lift environment, limited macro the I if had performance story macro a actually, of idiosyncratic -- of have of think But despite that kind a of bit kind I more little of QX. had would and think that's service in And good. our deliver to actually limits our bit seen environment. reflection a really a

that. takeaway when So I becomes more or I that firms important up -- the I think people it to whatever take it be of we're it does in is because environment or it out a think are what in And position doing is really mean to going macro the Saia certain more is comfortable might be. a the now. maybe that we're advantage in good of job

like up us. for So how I that sets

think I call, the -- churn a it's highlighted macro I on situation backdrop, bit the we've maybe little QX that. probably of on the was ongoing think

we Maybe get there working making sure We're a think But shed appropriate still what I really in the we good. little fundamentally, posted freight margins. network. the bit we on our was on

Ken Hoexter

was and you it it's reprice clarify, to market just had it. So to That's not on in freight not... a you Yellow like go took you the against took bad And on was like then because that? or what that something Amazon or macro freight

Frederick Holzgrefe

no. no, No,

we -- about had had in our of I freight pulling lot then QX, contracts think what came we is got way we had accounts. talking because forward. you a And Yellow we share were

for up find makes that right. the And that got -- make that We're not on We changes giving continuing that either. the sell you business So bit over churn. us sense little most get mix freight of we're a to before pricing and QX.

I deal think we underlying So of business of a on some with daily is that what basis. kind just and

Ken Hoexter

then seeing still right. just out on at volatile in that of and ratio. don't has And settle some I and in Are you All point? then contract? this is those release your the for think repricings the given tightening [indiscernible] talked about follow-up, Or my thoughts flattened revisit it we now?

Frederick Holzgrefe

of of that contractual and a we're got around we in mean some kind think just taking and as unique new the on question. we've we're key. growing. that customers getting different business I go. make I your it's a And mix right rates, what of that kind think or market that's I we're to specifically because think with we're We're paid margins ongoing, and the sure and spot reprice sort you get business book of is to find to need continue of at getting I

And that from other in to you'll all forward us continue see likelihood. any going claims. So

Douglas Col

system all the Yes. there X.X%, in team I and things like We're mean a the has in X.X% even in that. ratio for with the range hanging members service, while. been new claims

think it rolling So hearing and I our in -- look we it's to forward we're more service good about out markets. things

Operator

from from today Moore will Jefferies. Our Stephanie last question come

Stephanie Benjamin Moore

a this I every question been has ask Look, asked think short-term little and differently. I bit macro

how compare a take been you plan. step capacity does call year maybe year this you in to embarked your you've plan, expansion If back, compare XXXX how expansion would similar in it another aggressive last, it pretty on the the [indiscernible]

or it's door these investments hear perspective. I'd So it, you see market ultimately or a of Is you look your by kind at similar spring terminals to loaded where point the this us count, love your just perspective. making eventually get but to and to whether there however I'd that year turns. want you're to can love when

Frederick Holzgrefe

the a a have. to opportunities the -- exciting different, maybe interesting differentiates year the this to in just about this the really of say expansion. is bit is I answer, every where are to the about kind that compared little to right, Stephanie, this of others Yes. we What's hate one you tough -- I of mean, bit range year thing a kind is

we're [ So in then going opened Minnesota, year, the we've Laredo, this last outside Trenton, interesting Owatonna expansions, one of just one open a to year, in Duluth market got places some fall Paul we of facility Wisconsin. Owatonna, like in In ]. Minneapolis, really St. and

go a being sort a year making from end to being span the of of in So to market Minnesota less that real is a the of going than line for us.

all the level that the right are So about openings additional customer that now say and are these providing have of we service. ones that

So that a these look, say a that, or place. we're your that in a to to account players got know facilities people what putting our can call, a really from you've facilities is we're others We I've basis, me, exciting as LTL in is national that one really plans go it's going So right? we it's different said is big anywhere to do these strategic this. have can little all to going makes this, how other we're on to expansion out that Saia, hey, service for we a well, have the -- any exciting. that do our there great and can -- you've to we established established know go, be just and -- we culture an this and times and perspective, And the and add than customer, -- this And as we few And And well. have organic position us, bit an like we at I've probably on culture things, heard year. established there's an that of mentioned that, that national wheelhouse. been got across the in then how commentary -- then

service know We established and have customers. over that the people further important that an of over to drawn employees XXX to that providing build on are to that to again, are we know we And how says had part we enhancing how continue culture that to next and that. and culture great an replicate that,

in of I'm about year the I range as about So be the this openings, next and excited will well. ones

Stephanie Benjamin Moore

as does not and as in of the to we've perspective, investing takes that like you're XXXX my And just and you I heavily this to pretty from Got it. recovery kind before feel soon a back market way. market, almost seen you the where guess return. I movie see meaningful but then best

So guess I my thought. that was

comment. the appreciate I So

Frederick Holzgrefe

certainty like I Saia, of macro to up, XXX terminals Stephanie, Saia. that go, I for team the Listen, that idea springboard the for ready XXX, point. the you mean, like when established what teed looks on have having spring like

that's a us. think opportunity -- I fantastic for that's

Operator

to questions. for Fritz remarks. no and Chief the further Executive We Officer, Saia's to over Holzgrefe closing call turn I have would like President back

Frederick Holzgrefe

at forward in, and delivering you. called we you, the opportunity years that's happening to to the results. look thank really everybody the I continue about Saia. the things next talk and great Thank And appreciate to

So thank much. you

Operator

participation. conference for concludes call. today's This your you Thank

disconnect. now may You

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