Blog

Heartland Express gains speed as revenue jumps 69 percent

Heartland Express, Inc. Reports Revenues and Earnings for the Second Quarter of 2014

NORTH LIBERTY, Iowa, July 22, 2014 (GLOBE NEWSWIRE) — Heartland Express, Inc. (Nasdaq:HTLD) announced today financial results for the quarter and six month period ended June 30, 2014.

Financial Results

Heartland Express (the “Company”) ended the second quarter of 2014 with operating revenues of $226.8 million, net income of $26.5 million, and $0.30 earnings per share compared to $134.0 million, $19.1 million, and $0.23, respectively for the second quarter of 2013. Operating revenues increased 69.3% primarily due to increased miles associated with the November 11, 2013 acquisition of Gordon Trucking, Inc. (“GTI”). Operating revenues for the quarter included fuel surcharge revenues of $46.2 million compared to $27.3 million in the same period of 2013. Operating income for the three-month period was positively impacted by a $5.2 million increase in gains on disposal of property and equipment. The Company posted an operating ratio (operating expenses as a percentage of operating revenues) of 82.1% and an 11.7% net margin (net income as a percentage of operating revenues) in the second quarter of 2014 compared to 78.1% and 14.3%, respectively in the second quarter of 2013.

Read more here.

 

Share This