Less-than-truckload (LTL) carrier Saia (NASDAQ: SAIA) has opened two new terminals, the third consecutive month of physical expansion after no new terminals in 2025, according to a FreightWaves report by John Kingston.
Saia said it opened new terminals in Duluth, Minnesota and Columbia, Missouri "as part of the company's continued investment in expanding and strengthening its nationwide network," the company stated. The Duluth terminal opened earlier in June, and the Columbia terminal commenced operations this week.
New terminal openings
Saia's recent expansion includes:
| Month | Terminal Location | Status |
|---|---|---|
| June 2026 | Duluth, MN | Opened |
| June 2026 | Columbia, MO | Opened this week |
| May 2026 | Marysville, WA | Opened |
| May 2026 | Edinburgh, IN | Opened |
| April 2026 | York, PA | Opened |
Saia did not open any new terminals in 2025. In contrast, the company had ten separate new terminal announcements in 2024. Those openings followed Saia and other LTL carriers acquiring real estate from the bankrupt Yellow Corp in late 2023.
Financial and operational context
On a recent conference call with analysts following its first-quarter earnings release, CEO Frederick Holzgrefe said of Saia's growth plans: in the prior 36 months, "we've invested approximately $1.8 billion in our network and fleet alone, representing more than 19% of total revenue during that time. This investment is a clear signal of our commitment to customers, and we believe we're still in the early stages of fully realizing the benefits of these investments, which we expect will generate substantial long-term value for our shareholders."
CFO Matthew Batteh noted on that earnings call that Saia's newer terminals—which would include the post-Yellow facilities—are operating at an operating ratio (OR) that is "still above company average" but improved quarter-over-quarter. "That batch of facilities year-over-year, they improved margins by over 2 points on the OR side, which is good," Batteh said. "I mean they're still in the upper 90s, and they are a drag on the overall."
Implications for shippers and logistics operators
For freight forwarders and logistics managers, Saia's network expansion adds capacity and regional coverage in the Midwest. The new terminals give customers expanded access to Saia's network across key Midwest markets, with stronger regional coverage and added capacity to support growing shipping needs, according to Saia.
LTL shippers using Saia can expect improved service levels and shorter transit times in and around Duluth and Columbia as the terminals mature. However, the higher operating ratios at newer facilities suggest that rates may remain under pressure until these terminals achieve better efficiency. Operators should monitor Saia's service performance at these new locations as they ramp up.
Watch list
- Saia's terminal operating ratios: CFO Batteh noted newer terminals are in the upper 90s OR, improving 2 points year-over-year. Continued improvement could signal pricing stability.
- Further terminal openings: Saia has now opened terminals for three consecutive months. The pace of expansion may continue, potentially adding more capacity in underserved regions.
- Industry capacity: Saia's post-Yellow real estate acquisitions in 2023 continue to fuel growth. Competitors may respond with their own network adjustments.
