Saia, Inc. (NASDAQ:SAIA) Q1 2024 Earnings Call Transcript

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Frederick Holzgrefe: Yes. Stephanie, the interesting thing about, I mean, I hate to — this is kind of a tough answer just to say every year is a little bit different, right, in terms of where you are in the expansion. What’s really exciting about this one — this year that maybe differentiates a bit compared to the others is the kind of the range of opportunities we have. So, we’ve got some really interesting market expansions, Trenton, Laredo places like Owatonna, Minnesota. This year, we’re going to open a facility in Owatonna, and in — one in Duluth. In the fall of last year, we opened one just outside of Minneapolis, St. Paul and Wisconsin. So Saia, in a span of less than a year, is going to go from being — Minnesota being the end of the line to making that sort of a real market for us.

So the openings that we have right now are ones that say these are all about the customer and providing that additional level of service. So that to me is really exciting. And then you’ve got these big strategic facilities that we’re putting in place. And then you’ve got like facilities across the Great Plains that we’re going to add that now we’re going to be in a position to say to our customer, hey, look, we can go anywhere — any of your other national account or national LTL players can go and we know what we can do on a service basis, right? So it’s — that for us makes this a really exciting year, and one that is probably a little bit different than the others from that perspective. And as I’ve mentioned a few times in the call, organic expansion like this, this is in our wheelhouse.

We know how to do this. And I’ve heard there’s been commentary out there that said that we have an established — people have an established culture and all these things and we just — while at Saia, we have an established culture as well. We have an established culture that says we know how to replicate that over and over again. People are drawn to that and we know how to continue to build on that. And the next 100 employees that we add are part — an important part of further enhancing that culture and providing that great service to customers. So I’m excited about this range of openings, and I will be about the ones in the next year as well.

Stephanie Moore: Got it. Thank you. I guess just from my perspective, I feel like we’ve seen this movie before, and almost takes me back to 2019 where — not the best market, but you’re investing pretty heavily, and then you kind of see that recovery in a meaningful way, and then as soon as the market does to return, so I guess that was my thought. So, appreciate the color.

Frederick Holzgrefe: Yes, yes. Listen, Stephanie, on that point, I mean, I like the idea of having 210 terminals, 215 terminals teed up, ready to go, the established team that when you have macro certainty what the spring looks like for Saia, like springboard for Saia. I think that’s a fantastic opportunity for us.

Stephanie Moore: Got it. Thanks so much.

Frederick Holzgrefe: Thank you.

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

Frederick Holzgrefe: Thank you, and thank you everybody that’s called in, and we appreciate the opportunity to talk about the great things happening at Saia, and really look forward to the next years, and continue to delivering the results. So thank you much.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.

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