Heartland Express(HTLD) - 2025 Q1 - Quarterly Results

Financial Performance - Operating revenues for Q1 2025 were $219.4 million, down from $270.3 million in Q1 2024, representing a decrease of approximately 18.8%[2] - The net loss for Q1 2025 was $13.9 million, an improvement from a net loss of $15.1 million in Q1 2024, indicating a reduction of about 8%[2] - Basic loss per share was $0.18 in Q1 2025, compared to $0.19 in the same period of 2024, reflecting a slight improvement[2] - Operating revenue for Q1 2025 was $219,420,000, down from $270,320,000 in Q1 2024, representing a decrease of approximately 18.9%[17] - Operating revenue excluding fuel surcharge revenue was $193,099,000 in Q1 2025, compared to $234,108,000 in Q1 2024, a decline of about 17.5%[17] - Adjusted operating loss for Q1 2025 was $(13,644,000), slightly worse than the $(13,129,000) loss in Q1 2024[17] - The operating loss for Q1 2025 was $(14,898,000), compared to $(14,383,000) in Q1 2024, indicating a slight deterioration in performance[17] Operational Efficiency - The operating ratio for Q1 2025 was 106.8%, compared to 105.3% in Q1 2024, indicating a decline in operational efficiency[2] - The adjusted operating ratio increased to 107.1% in Q1 2025 from 105.6% in Q1 2024, indicating a decline in operational efficiency[17] - Operating expenses for Q1 2025 totaled $234,318,000, down from $284,703,000 in Q1 2024, a reduction of approximately 17.7%[17] Cash Flow and Assets - Cash balances increased to $23.9 million as of March 31, 2025, up by $11.1 million since December 31, 2024[3] - Total assets were reported at $1.3 billion, with stockholders' equity at $807.7 million as of March 31, 2025[3] - Net cash flows from operations for Q1 2025 were $25.8 million, representing 11.8% of operating revenue[5] Capital Expenditures and Dividends - The company expects net capital expenditures of approximately $40 to $50 million for the calendar year 2025[6] - A regular dividend of $0.02 per share was declared and paid during Q1 2025, maintaining a commitment to stockholders[7] Fleet Information - The average age of the consolidated tractor fleet was 2.6 years, while the trailer fleet averaged 7.4 years as of March 31, 2025[6] Non-GAAP Measures - The company emphasizes that non-GAAP measures like adjusted operating income provide better comparability for underlying operations, despite limitations[17] - Management continues to rely primarily on GAAP results while using non-GAAP measures as supplemental information[17] - The company aims to mitigate the volatility of fuel prices in its financial reporting to better reflect operational performance[17] Fuel Surcharge Revenue - The company reported a fuel surcharge revenue of $26,321,000 in Q1 2025, compared to $36,212,000 in Q1 2024, reflecting a decrease of about 27.4%[17]