breaking

Saia's Tonnage Growth Accelerates to 8% in May as Industrial Activity Strengthens

Saia reported accelerating year-over-year tonnage growth of 8% in May, up from 6.9% in April, though the improvement benefited from softer prior-year comparisons. The Johns Creek, Georgia-based less-than-truckload carrier saw gains in both shipment counts and weight per shipment. Two-year stacked comparisons reveal a slowdown from March's 15% growth rate. Weight per shipment averaged 8% gains in both April and May. Manufacturing activity strengthened the backdrop, with the Purchasing Managers' Index reaching 54 in May—its highest level in four years and signaling the fifth consecutive month of expansion. The new orders subindex registered 56, suggesting continued momentum ahead. Saia has guided to 400-450 basis points of sequential operating margin improvement in the second quarter, driven by higher tonnage and a weaker first-quarter operating result. The carrier's 40 new terminal locations turned profitable during Q1, reducing margin headwinds.