Heartland Express (HTLD) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -72.73%. A quarter ago, it was expected that this trucking and logistics company would post a loss of $0.10 per share when it actually produced earnings of $0.06, delivering a surprise of 160%.Over the last four quar ...

NORTH LIBERTY, Iowa, April 23, 2024 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (NASDAQ:HTLD) announced today financial results for the three months ended March 31, 2024. Three months ended March 31, 2024: Operating Revenue of $270.3 million,Net Loss of $15.1 million, Basic Loss per Share of $0.19,Operating Ratio of 105.3% and 105.6% Non-GAAP Adjusted Operating Ratio(1),Total Assets of $1.5 billion,Stockholders' Equity of $848.8 million. Heartland Express Chief Executive Officer Mike Gerdin commented on the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction (I.R.S. Employer of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 93-0926999 (State or Other Jurisd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) Indicate by check mark whether the registrant ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 93-0926999 (State or Other Jurisdicti ...

Financial Performance - In 2022, the company generated operating revenues of $968.0 million, a 59.4% increase from $607.3 million in 2021, with a net income of $133.6 million compared to $79.3 million in the previous year[189]. - The company achieved an operating ratio of 80.5% for 2022, improving from 82.6% in 2021, and a net margin of 13.8%, up from 13.1% in 2021[189]. - Operating revenue increased by $360.7 million (59.4%), reaching $968.0 million for the year ended December 31, 2022, compared to $607.3 million in 2021[204]. - Operating income margin improved to 19.5% for the year ended December 31, 2022, compared to 17.4% in 2021[202]. - The effective tax rate increased to 26.2% for the twelve months ended December 31, 2022, from 25.2% in 2021[218]. Cash Flow and Debt Management - Cash flow from operating activities for 2022 was $194.7 million, representing 20.1% of operating revenues, slightly down from 20.3% in 2021[192]. - Operating cash flow for 2022 was $194.7 million, an increase from $123.4 million in 2021, representing 20.1% of operating revenues[234]. - The company had $375.0 million outstanding on the Term Facility and no outstanding under the Revolving Facility as of December 31, 2022[229]. - The company intends to pay down debt incurred from recent acquisitions while maintaining regular quarterly dividends[233]. - The company has a maximum net leverage ratio of 2.75 to 1.00 and a minimum interest coverage ratio of 3.00 to 1.00 under the Credit Facilities[226]. Acquisitions and Growth Strategy - The company completed two significant acquisitions in 2022: Smith Transport on May 31 and CFI on August 31, which added dry van truckload capacity and increased revenues[186][188]. - The company expects operating revenue growth in 2023, primarily from the Smith and CFI acquisitions, despite a weaker freight market[205]. - The company plans to focus on paying down debt incurred from acquisitions in 2022, with no significant acquisitions expected in the near term[196][197]. Operating Expenses - Fuel expense rose by $95.0 million (95.4%), totaling $194.6 million for the year ended December 31, 2022, primarily due to increased miles driven and a 51.8% rise in average diesel prices[210]. - Salaries, wages, and benefits increased by $96.3 million (38.5%), amounting to $346.3 million for the year ended December 31, 2022, driven by a higher number of drivers and support staff following acquisitions[209]. - Depreciation and amortization expenses increased by $28.9 million (27.8%), totaling $133.0 million for the year ended December 31, 2022, due to ongoing fleet replacement strategies[211]. - Rent and purchased transportation expenses increased by $50.5 million, totaling $54.3 million for the year ended December 31, 2022, largely due to the acquisition of CFI[208]. - The company experienced significant inflation impacts on operating expenses, particularly in driver compensation and equipment costs[219]. Asset Management - Total assets at the end of 2022 were $1.7 billion, with total stockholders' equity of $855.5 million, reflecting a return on assets of 9.8% and return on equity of 16.4%[189]. - The average age of the tractor fleet was 2.0 years and the trailer fleet was 6.3 years as of December 31, 2022, with expectations for consistency in 2023[199]. - The company has $382.4 million in outstanding debt and $30.6 million in finance lease liabilities as of December 31, 2022, totaling $413.0 million, with $375.0 million subject to variable interest rates[253]. Market Conditions and Challenges - The trucking industry is facing a qualified driver shortage, but driver availability has begun to improve in early 2023 due to changing market conditions[194]. - Freight demand is expected to remain challenged in the first half of 2023, influenced by supply chain issues and economic conditions[193]. - A 1.0% increase in the Secured Overnight Financing Rate (SOFR) would result in an additional $3.8 million in annual interest expense based on current variable rate debt[253]. - The company is exposed to commodity price risk, particularly in fuel and rubber purchases, with a $1.00 increase in average fuel price per gallon potentially decreasing income before taxes by approximately $9.3 million[254]. - A 10% increase in tire prices is expected to raise tire purchase expenses by $2.0 million, leading to a corresponding decrease in income before taxes[255]. Management and Estimates - Management believes that changes in revenue equipment markets could affect the estimates of depreciable life or salvage value, but such changes will not significantly impact the long-term financial condition of the company[245]. - The purchase price of acquired businesses is allocated to the estimated fair values of assets and liabilities, with significant judgment required in determining these values[247]. - The company has not recorded a valuation allowance against deferred tax assets, believing it is more likely than not that remaining deferred tax assets will be utilized[249]. - Management's estimates for income tax provisions and unrecognized tax benefits are based on historical patterns and state-specific regulations[250].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) Nevada 93-0926999 (State or Other Jurisd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction (I.R.S. Employer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-15087 HEARTLAND EXPRESS INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction (I.R.S. Employe ...