LTL carrier Saia has announced openings of two new terminals, the third consecutive month where it has expanded its physical footprint after not doing so at all in 2025.
In a prepared statement, Saia (NASDAQ: SAIA) said it was opening new terminals in Duluth, Minnesota and Columbia, Missouri “as part of the company’s continued investment in expanding and strengthening its nationwide network.”
The expansion comes after Saia said last month that it was opening new terminals in Marysville, Washington and Edinburgh, Indiana, also saying at the time the moves were “part of (Saia’s) continued investment in network growth across the U.S.”
A month earlier, Saia said it had opened a new terminal in York, Pennsylvania.
None in ’25, lots in ’24
Saia did not open any new terminals in 2025. By contrast, Saia had ten separate announcements of new terminals in 2024. Those openings came after it and other LTL carriers picked up real estate from the carcass of the bankrupt Yellow Corp late in 2023.
On the company’s conference call with analysts last month following its first quarter earnings release, CEO Frederick Holzgrefe said of Saia’s growth plans that in the prior 36 months, “we’ve invested approximately $1.8 billion in our network and fleet alone, representing more than 19% of total revenue during that time. This investment is a clear signal of our commitment to customers, and we believe we’re still in the early stages of fully realizing the benefits of these investments, which we expect will generate substantial long-term value for our shareholders.”
Lagging OR at the new locations
On that earnings call, Matthew Batteh, Saia’s CFO said its newer terminals, which would include the post-Yellow facilities, are operating at an operating ratio (OR) that is “still above company average” but in the quarter, “we saw them improve.”
“That batch of facilities year-over-year, they improved margins by over 2 points on the OR side, which is good,” Batteh said. “I mean they’re still in the upper 90s, and they are a drag on the overall.”
Of the two new terminals, Saia said Duluth was opened earlier in June, and Columbia commenced operations this week.
“The new terminals give customers expanded access to Saia’s network across key Midwest markets, with stronger regional coverage, and added capacity to support growing shipping needs,” Saia said in its announcement.
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