Richard Hanan's questions to Saia Inc (SAIA) leadership • Q1 2025
Question
Richard Hanan of Deutsche Bank asked why Saia isn't taking more market share given its relatively attractive pricing and new national network. He also asked for a rebuttal to the skeptical view that Saia added too much capacity at the wrong time.
Answer
President and CEO Fritz Holzgrefe responded that Saia did report growth in Q1 while others have not, suggesting some share gain is occurring. However, he stressed the focus is on long-term value creation, not short-term market share. He defended the network expansion as a crucial long-term investment that positions Saia to capitalize significantly when the market turns. He views the current situation as a delay or 'speed bump' in a long-term value story, not a structural misstep.