Heartland Express(US:HTLD)2025-11-06 21:51Financial Performance - Operating revenue for Q3 2025 was $196.5 million, down from $259.9 million in Q3 2024, reflecting a decrease of approximately 24.4%[8] - Net loss for Q3 2025 was $8.3 million, compared to a net loss of $9.3 million in Q3 2024, showing an improvement of 10.8%[8] - The operating ratio for Q3 2025 was 103.7%, compared to 102.7% in Q3 2024, indicating a decline in operational efficiency[8] - Operating revenue for the three months ended September 30, 2025, was $196,547 thousand, a decrease of 24.4% compared to $259,861 thousand in the same period of 2024[21] - Adjusted operating loss for the three months ended September 30, 2025, was $(5,998) thousand, compared to $(5,885) thousand in the same period of 2024, indicating a slight deterioration[21] - Operating expenses for the three months ended September 30, 2025, were $203,799 thousand, down from $267,000 thousand in 2024, a reduction of 23.6%[21] - The adjusted operating ratio for the three months ended September 30, 2025, was 103.5%, slightly higher than 102.6% in the same period of 2024[21] Assets and Liabilities - Total assets as of September 30, 2025, were $1.3 billion, with stockholders' equity at $775.6 million[9] - Long-term debt and finance lease liabilities decreased to $177,546 thousand as of September 30, 2025, from $191,707 thousand in December 2024, a reduction of 7.4%[20] - Total long-term liabilities decreased to $360,546 thousand in September 2025, down from $392,034 thousand in December 2024, a decline of 8.0%[20] - Trade receivables, net, decreased to $79,996 thousand in September 2025 from $91,620 thousand in December 2024, a decline of 12.7%[20] - Retained earnings decreased to $986,396 thousand in September 2025 from $1,024,081 thousand in December 2024, a decrease of 3.7%[20] Cash Flow and Capital Management - Cash balances increased by $19.9 million to $32.7 million since December 31, 2024[9] - Cash and cash equivalents significantly increased to $32,688 thousand in September 2025, compared to $12,812 thousand in December 2024, marking a growth of 154.7%[20] - Debt and financing lease obligations were reduced from $494 million in 2022 to $185 million as of September 30, 2025, a reduction of $309 million over three years[5] - The company expects net capital expenditures of approximately $27 to $30 million for 2025[12] Shareholder Returns - The company repurchased 175,000 shares for $1.4 million in Q3 2025 and a total of 1.8 million shares for $17.6 million over the past three years[3] - A regular dividend of $0.02 per share was declared during Q3 2025, maintaining a consistent dividend payment history[13] Fleet Management - The average age of the consolidated tractor fleet was 2.6 years as of September 30, 2025, compared to 2.7 years in the previous year[11] Current Assets - Total current assets increased to $138,128 thousand in September 2025, up from $129,448 thousand in December 2024, representing a growth of 6.1%[20]