• UPS for business freight.
• FedEx Ground for pallets and industrial goods.

• Less-Than-Truckload (LTL) Shipping: Provides cost-effective transportation for shipments that are too large for parcel services but do not require an entire truckload.
• Saia Logistics Services: Offers comprehensive supply chain solutions, including third-party logistics (3PL) and intermodal services.
• Value-Added Services: Provides specialized options like guaranteed delivery, expedited shipping, and residential services to meet specific customer needs.

Saia Inc. (symbol: SAIA) primarily sells its less-than-truckload (LTL) transportation and logistics services to other companies, rather than individuals.

Saia serves a diverse customer base across various industries throughout North America. As per their annual reports (10-K filings), Saia does not have a concentrated customer base. Specifically, no single customer accounted for 10% or more of their total operating revenues in the past three fiscal years (2023, 2022, or 2021).

Therefore, there are no individually identifiable "major customers" to list by name or symbol. Instead, Saia's business model relies on serving a broad portfolio of business clients, which typically include:

• Companies in the **Manufacturing** sector
• Businesses involved in **Retail and Wholesale Trade**
• Organizations engaged in **E-commerce and Distribution**
• Various other commercial enterprises that require freight transportation services for goods of all types and sizes

Frederick Holzgrefe, President and Chief Executive Officer

Mr. Holzgrefe became Saia's Chief Executive Officer in April 2020, having previously served as President and Chief Operating Officer since January 2019. He joined Saia as Chief Financial Officer in 2014. Before his time at Saia, Mr. Holzgrefe held positions as Vice President of Business Development and Vice President and CFO for a Georgia subsidiary of a prominent agricultural processor, Golden Peanut and Treenut International. His career also includes experience in food and technology industries, as well as banking and financial advisory services. He holds an MBA from Washington University in St. Louis and a bachelor's degree in economics from the University of Notre Dame.

Matthew Batteh, Executive Vice President and Chief Financial Officer

Mr. Batteh was promoted to Executive Vice President and Chief Financial Officer in May 2024. He joined Saia in 2015 and has held several roles, including Vice President of Finance since 2023 and Vice President of Pricing and Analytics from 2020 to 2023. Prior to joining Saia, Mr. Batteh began his career at a large transportation and logistics provider, working in planning, pricing, and operations. He earned a Bachelor of Science degree in Finance from Auburn University and a Master of Business Administration from Emory University.

Raymond Ramu, Executive Vice President and Chief Customer Officer

Mr. Ramu has served as Saia's Chief Customer Officer since 2015 and was named an Executive Vice President in 2017. Before this, he was the Vice President of Sales for Saia's Eastern Division, a role he held since 2008. His career in the freight industry began at the age of 20 with a regional less-than-truckload carrier. He holds a bachelor's degree in logistics management.

Patrick Sugar, Executive Vice President of Operations

Mr. Sugar joined Saia in 2016 and currently serves as Executive Vice President of Operations. He previously held the position of Vice President of Linehaul and Industrial Engineering at Saia. Before joining Saia, Mr. Sugar had a career in engineering and operations management at a leading packaged goods company, General Mills, Inc. He holds a bachelor's degree in industrial and systems engineering from Georgia Tech.

Rohit Lal, Executive Vice President and Chief Information Officer

Mr. Lal assumed the role of Chief Information Officer in 2017 and has also been named an Executive Vice President. Prior to joining Saia, he spent nearly two decades in IT within the manufacturing and distribution sector. His experience includes serving as the IT Architecture Director for a division of a leading soft drink manufacturer and as the managing principal for an IT consulting company specializing in supply chain solutions. Mr. Lal holds a bachelor's degree in chemical engineering.

Saia Inc.'s primary product and service is Less-Than-Truckload (LTL) transportation. The addressable market for LTL services in the U.S. is substantial.

The United States Less-Than-Truckload (LTL) market size was valued at approximately USD 114.03 billion in 2025 and is projected to grow to USD 139.63 billion by 2030, with a compound annual growth rate (CAGR) of 4.13% during the forecast period.

1. Network Expansion and Market Penetration: Saia is actively expanding its terminal network, including the acquisition and reopening of terminals from Yellow Corp., to achieve comprehensive national coverage across the contiguous 48 states. This expansion into new geographies and the densification of its network enable the company to provide direct service to more customers, particularly in new and ramping markets, thereby increasing its addressable market and driving shipment growth. The company opened 21 new terminals in 2024 and plans to continue investing in its network.
2. Growth in Shipments and Tonnage: Saia has demonstrated consistent increases in less-than-truckload (LTL) shipments per workday and LTL tonnage per workday, particularly in its newer markets. This indicates a growing demand for its services and an ability to attract more freight volume, which directly contributes to higher revenue.
3. Pricing Discipline and Yield Management: The company focuses on optimizing pricing and its service mix. Saia has reported increases in LTL revenue per hundredweight (excluding fuel surcharge) and revenue per shipment. Furthermore, contractual renewals have shown an average rate increase, indicating the company's ability to maintain a constructive pricing environment and improve its yield, which is crucial for revenue growth.
4. Market Share Gains and New Customer Acquisition: Through its expanded network and enhanced service capabilities, Saia aims to gain market share and secure new contract wins. The ability to provide comprehensive national coverage and improved service offerings positions Saia to attract both new enterprise customers and expand business with existing ones, particularly as it enters previously underserved or partner-serviced geographies.

Share Repurchases

• Saia engaged in relatively minor share repurchases between Q2 2021 and Q4 2024, with reported quarterly amounts typically ranging from hundreds of thousands to low millions of dollars.
• The total reported quarterly share repurchases from Q2 2021 through Q4 2024 amounted to approximately $7.42 million.

Share Issuance

• Saia had net common equity issued of approximately $10 million in 2024.
• Net common equity issued was around $5 million in both 2023 and 2022.

Capital Expenditures

• In 2024, Saia made a record capital investment of $1,040.9 million, which included $235.7 million for acquiring properties as part of the Yellow Corporation auction process.
• These 2024 investments primarily focused on expanding the company's operational footprint by opening 21 new terminals and relocating 9 others, aiming for a national footprint with 214 terminals providing direct service to all 48 contiguous states.
• For 2025, Saia anticipates net capital expenditures to be over $700 million, with some estimates ranging from $600 million to $650 million, continuing its focus on enhancing customer support and network capabilities.