Core Insights - Heartland Express reported a quarterly loss of $0.04 per share, aligning with the Zacks Consensus Estimate, compared to earnings of $0.10 per share a year ago [3] - The company generated revenues of $274.75 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.63% and down from $306.17 million year-over-year [4] - Heartland Express has surpassed consensus EPS estimates only once in the last four quarters [2] Financial Performance - The company experienced a loss of $0.19 per share against an expected loss of $0.11 per share, resulting in a surprise of -72.73% [1] - Year-to-date, Heartland Express shares have declined by approximately 12.6%, while the S&P 500 has gained 16.7% [5] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $280.53 million, and for the current fiscal year, it is -$0.17 on revenues of $1.12 billion [10] Industry Context - The Transportation - Truck industry, to which Heartland Express belongs, is currently ranked in the bottom 6% of over 250 Zacks industries [9] - The performance of Heartland Express is likely influenced by the overall outlook of the industry, which can significantly impact stock performance [9] - Another company in the same industry, Werner Enterprises, is expected to report a quarterly earnings decline of 55.8% year-over-year, with revenues projected at $774.54 million, down 4.5% from the previous year [11][12] Future Outlook - The sustainability of Heartland Express's stock price movement will depend on management's commentary during the earnings call and the trends in earnings estimate revisions [5][6] - The current estimate revisions trend for Heartland Express is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [8]

Operating Revenue of $274.8 million, Operating Income of $0.3 million, Net Loss of $3.5 million, Basic Loss per Share of $0.04, Operating Ratio of 99.9% and 99.4% Non-GAAP Adjusted Operating Ratio(1), Total Assets of $1.4 billion, Stockholders' Equity of $836.8 million. NORTH LIBERTY, Iowa, July 23, 2024 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (NASDAQ:HTLD) announced today financial results for the three and six months ended June 30, 2024. Three months ended June 30, 2024: Six months ended June 30, 2024 ...

The market expects Heartland Express (HTLD) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if th ...

The press release may contain forward-looking statements, which are based on information currently available. These statements and assumptions involve certain risks and uncertainties. Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement to the extent it becomes aware that it will not be achieved for any reason. NORTH LIBERTY, Iowa, June 14, 2024 (GLOBE ...

NORTH LIBERTY, Iowa, May 20, 2024 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced that Chris Strain, Chief Financial Officer, and Josh Helmich, Senior Vice President and Chief Financial Officer of CFI (a wholly owned subsidiary) will participate in the Wolfe Research 17th Annual Global Transportation and Industrials Conference. Conference participation will occur on Wednesday, May 22, 2024, in New York, New York, including investor meetings. Heartland Express, Inc. Mike Gerdin, Chief Ex ...

NORTH LIBERTY, Iowa, May 20, 2024 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced that Chris Strain, Chief Financial Officer, and Josh Helmich, Senior Vice President and Chief Financial Officer of CFI (a wholly owned subsidiary) will participate in the Wolfe Research 17th Annual Global Transportation and Industrials Conference. Conference participation will occur on Wednesday, May 22, 2024, in New York, New York, including investor meetings. Heartland Express is an irregular route truck ...

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 319-645-7060 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: (State or Other Jurisdiction (I.R.S. Employer of Incorporation or organization) Identification No.) 901 Heartland Way, North Liberty, Iowa 52317 (Address of Principal Executive Offices) (Zip Code) For ...

[Executive Summary](index=1&type=section&id=Item%201.%20Executive%20Summary) Heartland Express reported a Q1 2024 net loss from weak freight demand and cost inflation, focusing on cost reduction and debt repayment [Q1 2024 Performance Overview](index=1&type=section&id=Item%201.1%20Q1%202024%20Performance%20Overview) Heartland Express reported a significant decline in Q1 2024 financial performance compared to Q1 2023, with operating revenue decreasing to $270.3 million and a net loss of $15.1 million, primarily due to weak freight demand, excess industry capacity, and cost inflation Q1 2024 Performance Overview | Metric | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------------------- | :------ | :------ | :----------- | | Operating Revenue | $270.3M | $330.9M | -18.3% | | Net (Loss) Income | ($15.1M) | $12.6M | N/A | | Basic (Loss) Earnings per Share | ($0.19) | $0.16 | N/A | | Operating Ratio | 105.3% | 93.1% | +12.2 pp | [CEO Commentary and Strategic Initiatives](index=1&type=section&id=Item%201.2%20CEO%20Commentary%20and%20Strategic%20Initiatives) CEO Mike Gerdin attributed the weak results to challenging market conditions but highlighted internal efforts to improve operating effectiveness through cost reductions, purchasing scale, driver utilization, and on-time service. The company also focused on reducing unprofitable freight and debt, with a $36.7 million reduction in acquisition-related debt in Q1 2024 - Market Challenges: Weak freight demand, excess capacity, unfavorable weather, and ongoing operating cost inflation negatively impacted Q1 2024 results[1](index=1&type=chunk) - Strategic Focus: Internal efforts include cost reductions, purchasing scale, information systems projects for driver utilization improvements, and a continued focus on on-time service. The company also worked to reduce unprofitable freight and refused to lower freight rates to unsustainable levels[1](index=1&type=chunk) - Debt Reduction: Prioritized capital to reduce acquisition-related debt by an additional **$36.7 million** during the first quarter of 2024[1](index=1&type=chunk) [Consolidated Financial Results](index=1&type=section&id=Item%202.%20Consolidated%20Financial%20Results) Q1 2024 saw a substantial decline in operating revenue and a shift to net loss, reflecting challenging market conditions [Income Statement Analysis](index=4&type=section&id=Item%202.1%20Income%20Statement%20Analysis) The consolidated statements of income show a substantial year-over-year decline in revenue and a shift from net income to net loss for the three months ended March 31, 2024. Operating expenses increased relative to revenue, leading to an operating loss Consolidated Statements of Income (Three Months Ended March 31) | (In thousands, except per share amounts) | 2024 | 2023 | | :--------------------------------------- | :---------- | :---------- | | OPERATING REVENUE | $270,320 | $330,916 | | OPERATING EXPENSES: | | | | Salaries, wages, and benefits | $112,697 | $123,333 | | Rent and purchased transportation | 23,863 | 33,144 | | Fuel | 47,321 | 57,528 | | Operations and maintenance | 16,264 | 15,026 | | Operating taxes and licenses | 5,315 | 5,543 | | Insurance and claims | 14,584 | 11,002 | | Communications and utilities | 2,440 | 2,876 | | Depreciation and amortization | 46,504 | 48,469 | | Other operating expenses | 15,626 | 17,891 | | Loss (gain) on disposal of property and equipment | 89 | (6,786) | | Total Operating Expenses | 284,703 | 308,026 | | Operating (loss) income | (14,383) | 22,890 | | Interest income | 366 | 484 | | Interest expense | (5,302) | (6,075) | | (Loss) Income before income taxes | (19,319) | 17,299 | | Federal and state income taxes | (4,211) | 4,687 | | Net (loss) income | $(15,108) | $12,612 | | (Loss) Earnings per Share | | | | Basic | $(0.19) | $0.16 | | Diluted | $(0.19) | $0.16 | | Weighted Average Shares Outstanding Basic| 79,044 | 78,987 | | Weighted Average Shares Outstanding Diluted| 79,122 | 79,022 | | Dividends Declared per Share | $0.02 | $0.02 | [Key Performance Indicators](index=1&type=section&id=Item%202.2%20Key%20Performance%20Indicators) Key financial metrics for Q1 2024 reflect the challenging market, with significant drops in operating revenue and a shift from net income to net loss, alongside a notable increase in the operating ratio Key Financial Metrics (Q1 2024 vs Q1 2023) | Metric | Q1 2024 | Q1 2023 | Change (YoY) | | :-------------------------------------- | :---------- | :---------- | :----------- | | Operating Revenue | $270.3M | $330.9M | -18.3% | | Fuel Surcharge Revenue | $36.2M | $49.6M | -27.0% | | Operating (Loss) Income | ($14.4M) | $22.9M | N/A | | Net (Loss) Income | ($15.1M) | $12.6M | N/A | | Basic (Loss) Earnings per Share | ($0.19) | $0.16 | N/A | | Operating Ratio | 105.3% | 93.1% | +12.2 pp | | Non-GAAP Adjusted Operating Ratio | 105.6% | 91.4% | +14.2 pp | | Net Loss as % of Operating Revenues | 5.6% | 3.8% (Net Income) | N/A | [Financial Position and Capital Management](index=1&type=section&id=Item%203.%20Financial%20Position%20and%20Capital%20Management) Heartland Express maintained a solid Q1 2024 financial position, reducing debt and managing capital expenditures [Balance Sheet Highlights](index=5&type=section&id=Item%203.1%20Balance%20Sheet%20Highlights) As of March 31, 2024, Heartland Express maintained a solid financial position with total assets of $1.45 billion and stockholders' equity of $848.8 million. The company successfully reduced its debt and financing lease obligations Condensed Consolidated Balance Sheets (March 31, 2024 vs December 31, 2023) | (in thousands) | March 31, 2024 | December 31, 2023 | | :----------------------------------- | :------------- | :---------------- | | **ASSETS** | | | | Cash and cash equivalents | $23,823 | $28,123 | | Total current assets | 160,142 | 169,272 | | Property and equipment, net | 841,451 | 885,351 | | Goodwill | 322,597 | 322,597 | | Total Assets | $1,452,485 | $1,509,646 | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | Total current liabilities | 127,468 | 123,476 | | Long-term debt and finance lease liabilities less current portion | 254,616 | 290,696 | | Total long-term liabilities | 476,227 | 520,910 | | Stockholders' Equity | 848,790 | 865,260 | | Total Liabilities and Stockholders' Equity | $1,452,485 | $1,509,646 | - Debt and financing lease obligations decreased to **$263.6 million** as of March 31, 2024, down from initial borrowings for the CFI and Smith acquisitions[4](index=4&type=chunk) - The Company had **$88.0 million** in available borrowing capacity on its unsecured line of credit as of March 31, 2024, and remained in compliance with financial covenants[4](index=4&type=chunk) [Cash Flow and Debt Reduction](index=1&type=section&id=Item%203.2%20Cash%20Flow%20and%20Debt%20Reduction) Net cash flows from operations for the first three months of 2024 were $31.0 million, primarily used for significant debt and financing lease repayments. The company has repaid a substantial portion of acquisition-related debt since 2022 and intends to prioritize further debt reductions throughout 2024 - Net cash flows from operations for Q1 2024 were **$31.0 million**, representing **11.5%** of operating revenue[5](index=5&type=chunk) - Primary use of cash in Q1 2024 was **$36.7 million** for repayments of debt and financing leases[1](index=1&type=chunk)[5](index=5&type=chunk) - Since the 2022 acquisitions, the Company has repaid a total of **$232.2 million** of acquisition-related debt, and plans to continue prioritizing capital towards further debt reductions in 2024[5](index=5&type=chunk) [Capital Expenditures and Fleet Information](index=2&type=section&id=Item%203.3%20Capital%20Expenditures%20and%20Fleet%20Information) The average age of the company's consolidated tractor and trailer fleets increased slightly year-over-year. For calendar year 2024, net capital expenditures are projected to be approximately $15 to $20 million, with no significant gains expected from equipment disposition Fleet Age (as of March 31) | Fleet Type | 2024 | 2023 | | :--------- | :------ | :------ | | Tractor | 2.4 years | 2.1 years | | Trailer | 6.7 years | 6.2 years | - Expected net capital expenditures for calendar year 2024 are approximately **$15 to $20 million**, with no significant gains anticipated from equipment disposition[6](index=6&type=chunk) [Shareholder Value](index=2&type=section&id=Item%204.%20Shareholder%20Value) The company maintained regular Q1 2024 dividend payments, demonstrating shareholder commitment, but did not repurchase shares [Dividends](index=4&type=section&id=Item%204.1%20Dividends) Heartland Express continued its commitment to stockholders by declaring a regular cash dividend of $0.02 per share during the first quarter of 2024, maintaining its long history of consecutive quarterly payments - A regular dividend of **$0.02 per share** was declared during Q1 2024 and paid on April 5, 2024[7](index=7&type=chunk)[14](index=14&type=chunk) - The Company has paid cumulative cash dividends of **$550.5 million**, including four special dividends, over the past eighty-three consecutive quarters since 2003[7](index=7&type=chunk) [Share Repurchase Program](index=2&type=section&id=Item%204.2%20Share%20Repurchase%20Program) Heartland Express did not repurchase any shares of common stock in Q1 2024 or throughout 2023, despite having authorization to repurchase an additional 6.6 million shares - No shares of common stock were repurchased in the first three months of 2024 or throughout all of 2023[7](index=7&type=chunk) - The Company has the ability to repurchase an additional **6.6 million shares** under the current authorization[7](index=7&type=chunk) [Other Information](index=2&type=section&id=Item%205.%20Other%20Information) Heartland Express received multiple industry awards in Q1 2024 and provided non-GAAP financial reconciliations for operational insights [Operational Achievements](index=2&type=section&id=Item%205.1%20Operational%20Achievements) During the first quarter of 2024, Heartland Express's operating brands continued to deliver award-winning service, safety, and integrity, earning several industry recognitions - Awards received include: Home Depot Truckload Carrier of the Year (Medium Fleet), Home Depot Truckload Carrier of the Year (Small Fleet), NFI US East Carrier of the Year, TCA Fleet Safety Award 2023 - 2nd Place (Division VI, 100+ Million Miles), Missouri Trucking Association - Safety Award (Over the Road, 15+ Million Miles), and Newsweek's 2024 Most Trustworthy Companies[8](index=8&type=chunk)[9](index=9&type=chunk) [Non-GAAP Financial Measures Reconciliation](index=1&type=section&id=Item%205.2%20Non-GAAP%20Financial%20Measures%20Reconciliation) The report includes a reconciliation of GAAP to non-GAAP financial measures, such as operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio. Management believes these non-GAAP measures provide a more consistent basis for comparing operational results by excluding the volatility of fuel prices GAAP to Non-GAAP Reconciliation (Three Months Ended March 31) | (Unaudited, in thousands) | 2024 | 2023 | | :---------------------------------------- | :---------- | :---------- | | Operating revenue | $270,320 | $330,916 | | Less: Fuel surcharge revenue | 36,212 | 49,647 | | Operating revenue, excluding fuel surcharge revenue | 234,108 | 281,269 | | Operating expenses | 284,703 | 308,026 | | Less: Fuel surcharge revenue | 36,212 | 49,647 | | Less: Amortization of intangibles | 1,254 | 1,291 | | Adjusted operating expenses | 247,237 | 257,088 | | Operating (loss) income | (14,383) | 22,890 | | Adjusted operating (loss) income | $(13,129) | $24,181 | | Operating ratio | 105.3 % | 93.1 % | | Adjusted operating ratio | 105.6 % | 91.4 % | - Non-GAAP measures (operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio) are used to supplement GAAP results, providing a more consistent basis for comparing operations by excluding fuel price volatility[8](index=8&type=chunk)[17](index=17&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Item%206.%20Forward-Looking%20Statements) This section provides a standard disclaimer for forward-looking statements, highlighting inherent risks and uncertainties [Forward-Looking Statements Disclaimer](index=3&type=section&id=Item%206.1%20Forward-Looking%20Statements%20Disclaimer) This section contains a standard disclaimer regarding forward-looking statements, cautioning that such statements are based on management's current beliefs and involve certain risks and uncertainties, which may cause actual events to differ materially from those projected. The Company assumes no obligation to update these statements - Statements regarding freight supply and demand, future cost inflation, market conditions, operational improvements, goals, capital deployment, capital expenditures, equipment dispositions, operating ratio, stock repurchases, dividends, and debt repayment are considered forward-looking statements[11](index=11&type=chunk) - Actual events may differ materially from forward-looking statements due to numerous factors, including those specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2023[11](index=11&type=chunk) - The Company assumes no obligation to update any forward-looking statements[11](index=11&type=chunk) [Contact Information](index=3&type=section&id=Item%207.%20Contact%20Information) Investor relations contact details are provided for inquiries, listing key executive personnel [Investor Relations Contact](index=3&type=section&id=Item%207.1%20Investor%20Relations%20Contact) This section provides contact details for investor inquiries, listing the Chief Executive Officer and Chief Financial Officer - Contact persons for Heartland Express, Inc. are Mike Gerdin (Chief Executive Officer) and Chris Strain (Chief Financial Officer) at (319-645-7060)[12](index=12&type=chunk)

For the quarter ended March 2024, Heartland Express (HTLD) reported revenue of $270.32 million, down 18.3% over the same period last year. EPS came in at -$0.19, compared to $0.16 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $265.24 million, representing a surprise of +1.92%. The company delivered an EPS surprise of -72.73%, with the consensus EPS estimate being -$0.11.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

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 ...