On this page of StockholderLetter.com we present the latest annual shareholder letter from SAIA INC — ticker symbol SAIA. Reading current and past SAIA letters to shareholders can bring important insights into the investment thesis.
ANNUAL
REPORT
2023
CE LE B R AT I N G A R E C O RD -BR E AKING YE AR
TAKING PRIDE IN
OUR PEOPLE
At Saia, people are our number one priority, from our employees to our customers.
Our growth in 2023 was not only great for business, but also great for our people,
helping us create more jobs, serve more customers, and drive into our 100th anniversary.
Each of Saia   s nearly 14,000 team members plays a critical role
Saia is committed to nurturing
in providing customers with the industry-leading service they
talent and prioritizing employee
deserve and demand.
Since introducing our    Customer First Scorecard    in 2022, a
monthly assessment of employee influence on the customer   s
perception of our service, we have enhanced our ability to
pinpoint areas for improvement and highlight our employees   
accomplishments. This approach has enabled us to get a
better grasp of customer satisfaction at a granular level,
set our priorities effectively, and commend our
teams for their efforts.
well-being. This year   s investments
in human resources helped us
attract top-tier talent and retain
our current team.
ENGAGED EMPLOYEES
We believe our team sets us apart from other carriers and
logistics providers. We place a premium on hiring people
who reflect our core values and our diversity as a company,
a blend of rich backgrounds and cultures working toward a
common goal     driving America   s businesses. This is why
we were once again named one of Women In Trucking   s    Top
Companies for Women to Work for in Transportation.   
Our investment in our people also resulted in boosting morale
and significantly reducing turnover rates, with a record
Our employees are both well-compensated and well-trained.
In 2023, we presented over 6,000 safety awards to personnel
across the company for safe driving and work. Our drivers,
dockworkers, and mechanics were rewarded for these
career milestones. Drivers received custom gold rings
(for 1M miles/eight years accident-free), and current ring
holders added diamonds (for every additional four years with
no accidents).
2023
number of career advancement opportunities for our internal
workforce. This investment increased employee engagement
as reflected in employee surveys, improved metrics across
various areas, and resulted in stable overall employee
satisfaction ratings.
Drivers, Dockworkers
& Mechanics
EMPLOYEES THROUGH:
BEST-IN-CLASS
BENEFITS
GETS REWARDED
6,000+
WE CONSISTENLY INVEST IN OUR
COMPETITIVE
COMPENSATION
SAFE SERVICE
RECOGNITION
PROGRAMS
OUR SAIA
FAMILY VALUES
Since their creation, our core values (Customer First, Safety, Taking Care of
Each Other, Do the Right Thing, Dignity and Respect, and Community) have
guided our everyday operations. Our entire team exemplifies these values,
and it shows in our results     a growing network, satisfied customers, and a
better community.
Our Community core value shined in 2023, with our most significant involvement being our continued
partnerships with Wreaths Across America (WAA) and Toys for Tots. This year, in addition to laying
wreaths, City Drivers Renee Smith (New Orleans, Louisiana) and Scott Vaughn (now retired from
Grand Rapids, Michigan) were selected to represent Saia during weeklong WAA events. These
events began in Maine and ended with delivering a trailer of wreaths for ceremonies held at the
Arlington National Cemetery.
In addition to a generous corporate donation, our sponsorship of Toys for Tots in 2023 included a
network-wide toy drive. These contributions are just a few examples of what sets Saia apart and makes
us a success, for both customers and shareholders alike. Saia is not just an LTL carrier. Saia is an active
community partner in the areas we serve.
   Thanks to our employees    generosity, many children
woke up on Christmas Day to a brand-new bike.   
- JOSE GONZALEZ, DIRECTOR OF IT INFRASTRUCTURE & OPERATIONS
45
STATES SERVED
~14K
EMPLOYEES
AVG LENGTH OF HAUL
894 MILES
$2.9B
IN REVENUE
194
TERMINALS
84.0%
OPERATING RATIO
 • shareholder letter icon 3/18/2024 Letter Continued (Full PDF)
 • stockholder letter icon 3/16/2023 SAIA Stockholder Letter
 • stockholder letter icon More "Trucking" Category Stockholder Letters
 • Benford's Law Stocks icon SAIA Benford's Law Stock Score = 53


SAIA Shareholder/Stockholder Letter Transcript:

ANNUAL
REPORT
2023
CE LE B R AT I N G A R E C O RD -BR E AKING YE AR

TAKING PRIDE IN
OUR PEOPLE
At Saia, people are our number one priority, from our employees to our customers.
Our growth in 2023 was not only great for business, but also great for our people,
helping us create more jobs, serve more customers, and drive into our 100th anniversary.
Each of Saia   s nearly 14,000 team members plays a critical role
Saia is committed to nurturing
in providing customers with the industry-leading service they
talent and prioritizing employee
deserve and demand.
Since introducing our    Customer First Scorecard    in 2022, a
monthly assessment of employee influence on the customer   s
perception of our service, we have enhanced our ability to
pinpoint areas for improvement and highlight our employees   
accomplishments. This approach has enabled us to get a
better grasp of customer satisfaction at a granular level,
set our priorities effectively, and commend our
teams for their efforts.
well-being. This year   s investments
in human resources helped us
attract top-tier talent and retain
our current team.

ENGAGED EMPLOYEES
We believe our team sets us apart from other carriers and
logistics providers. We place a premium on hiring people
who reflect our core values and our diversity as a company,
a blend of rich backgrounds and cultures working toward a
common goal     driving America   s businesses. This is why
we were once again named one of Women In Trucking   s    Top
Companies for Women to Work for in Transportation.   
Our investment in our people also resulted in boosting morale
and significantly reducing turnover rates, with a record
Our employees are both well-compensated and well-trained.
In 2023, we presented over 6,000 safety awards to personnel
across the company for safe driving and work. Our drivers,
dockworkers, and mechanics were rewarded for these
career milestones. Drivers received custom gold rings
(for 1M miles/eight years accident-free), and current ring
holders added diamonds (for every additional four years with
no accidents).
2023
number of career advancement opportunities for our internal
workforce. This investment increased employee engagement
as reflected in employee surveys, improved metrics across
various areas, and resulted in stable overall employee
satisfaction ratings.
Drivers, Dockworkers
& Mechanics
EMPLOYEES THROUGH:
BEST-IN-CLASS
BENEFITS
GETS REWARDED
6,000+
WE CONSISTENLY INVEST IN OUR
COMPETITIVE
COMPENSATION
SAFE SERVICE
RECOGNITION
PROGRAMS

OUR SAIA
FAMILY VALUES
Since their creation, our core values (Customer First, Safety, Taking Care of
Each Other, Do the Right Thing, Dignity and Respect, and Community) have
guided our everyday operations. Our entire team exemplifies these values,
and it shows in our results     a growing network, satisfied customers, and a
better community.
Our Community core value shined in 2023, with our most significant involvement being our continued
partnerships with Wreaths Across America (WAA) and Toys for Tots. This year, in addition to laying
wreaths, City Drivers Renee Smith (New Orleans, Louisiana) and Scott Vaughn (now retired from
Grand Rapids, Michigan) were selected to represent Saia during weeklong WAA events. These
events began in Maine and ended with delivering a trailer of wreaths for ceremonies held at the
Arlington National Cemetery.
In addition to a generous corporate donation, our sponsorship of Toys for Tots in 2023 included a
network-wide toy drive. These contributions are just a few examples of what sets Saia apart and makes
us a success, for both customers and shareholders alike. Saia is not just an LTL carrier. Saia is an active
community partner in the areas we serve.
   Thanks to our employees    generosity, many children
woke up on Christmas Day to a brand-new bike.   
- JOSE GONZALEZ, DIRECTOR OF IT INFRASTRUCTURE & OPERATIONS

45
STATES SERVED
~14K
EMPLOYEES
AVG LENGTH OF HAUL
894 MILES
$2.9B
IN REVENUE
194
TERMINALS
84.0%
OPERATING RATIO



shareholder letter icon 3/18/2024 Letter Continued (Full PDF)
 

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