Heartland Express(HTLD) - 2024 Q4 - Annual Results

Financial Performance - Operating revenue for Q4 2024 was $242.6 million, a decrease from$ 275.3 million in Q4 2023, representing a decline of 11.9%[5] - Net loss for Q4 2024 was $1.9 million, compared to a net income of$ 5.1 million in Q4 2023, resulting in a basic loss per share of $0.02[5] - For the twelve-month period ended December 31, 2024, operating revenues were$ 1.0 billion, down 13.2% from $1.2 billion in 2023[6] - Adjusted operating income for Q4 2024 was$ 2.276 million, down from $11.967 million in Q4 2023, indicating a decrease of 81.0%[21] - Total operating expenses for Q4 2024 were$ 241.554 million, down 8.7% from $264.642 million in Q4 2023[18] - Operating ratio for Q4 2024 was 99.6%, up from 96.1% in Q4 2023, reflecting increased operational inefficiencies[21] Assets and Equity - Total assets at December 31, 2024, were$ 1.3 billion, with stockholders' equity of $822.6 million[8] - Total current assets fell to$ 129.448 million in Q4 2024, down 23.5% from $169.272 million in Q4 2023[20] - Total stockholders' equity decreased to$ 822.599 million in Q4 2024 from $865.260 million in Q4 2023, a decline of 4.9%[20] - Long-term debt decreased to$ 191.707 million in Q4 2024 from $290.696 million in Q4 2023, a reduction of 34.1%[20] Cash Flow and Dividends - Operating cash flow margin for Q4 2024 was 15.6%, with net cash flows from operations for the twelve-month period at$ 144.3 million, representing 13.8% of operating revenues[9] - Cash and cash equivalents decreased to $12.812 million in Q4 2024 from$ 28.123 million in Q4 2023, a decline of 54.4%[20] - Regular dividends of $0.02 per share were declared during each quarter of 2024, contributing to cumulative cash dividends of$ 555.2 million since 2003[11] - The company declared dividends of $0.02 per share for both Q4 2024 and Q4 2023, maintaining consistency[18] Operational Efficiency - The company achieved a consolidated operating ratio of 99.6% in Q4 2024, an improvement of 570 basis points from Q1 2024[2] - The company continues to focus on cost improvements and operational integrations, anticipating a favorable increase in overall freight demand[4] - The average age of the tractor fleet was 2.5 years as of December 31, 2024, compared to 2.2 years at the end of 2023[10] Debt Management - The company paid down$ 100.3 million in debt during 2024, totaling $295.9 million since acquisitions in 2022[3]