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HTLD

Heartland Express, Inc.

HTLD

Heartland Express, Inc. • NASDAQ
$7.86 ▼ -0.51% (-0.04)
Market Cap $608.74 M
52w High $12.78
52w Low $7.00
Dividend Yield 0.08%
P/E -17.47
Volume 125.84K
Outstanding Shares 77.45M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $196.547M ▼ $13.158M ▼ $-8.284M ▲ -4.215% ▲ $-0.11 ▲ $31.725M ▲
Q2-2025 $210.387M ▼ $13.899M ▼ $-10.855M ▲ -5.16% ▲ $-0.14 ▲ $29.242M ▲
Q1-2025 $219.42M ▼ $15.103M ▼ $-13.873M ▼ -6.323% ▼ $-0.18 ▼ $26.859M ▼
Q4-2024 $242.576M ▼ $15.548M ▼ $-1.853M ▲ -0.764% ▲ $-0.024 ▲ $45.181M ▲
Q3-2024 $259.861M $17.304M $-9.283M -3.572% $-0.12 $38.074M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $32.688M ▲ $1.258B ▼ $481.988M ▼ $775.63M ▼
Q2-2025 $22.879M ▼ $1.299B ▼ $512.635M ▼ $786.737M ▼
Q1-2025 $23.873M ▲ $1.345B ▲ $536.986M ▲ $807.725M ▼
Q4-2024 $12.812M ▼ $1.334B ▼ $511.593M ▼ $822.599M ▼
Q3-2024 $30.739M $1.361B $535.704M $825.749M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-10.855M ▲ $20.999M ▼ $-5.819M ▲ $-16.225M ▼ $-1.045M ▼ $-12.793M ▼
Q1-2025 $-13.873M ▼ $25.843M ▼ $-11.499M ▲ $-3.008M ▲ $11.336M ▲ $2.285M ▲
Q4-2024 $-1.854M ▲ $37.788M ▲ $-48.038M ▼ $-7.897M ▲ $-18.147M ▼ $-45.519M ▼
Q3-2024 $-9.283M ▼ $35.594M ▼ $4.13M ▲ $-32.437M ▲ $7.287M ▲ $24.609M ▼
Q2-2024 $-3.478M $39.99M $-4.583M $-35.656M $-249K $29.443M

Five-Year Company Overview

Income Statement

Income Statement Heartland’s revenue has grown meaningfully compared with a few years ago, helped by acquisitions, but profitability has weakened. After a strong year in the early 2020s, both gross and operating margins have compressed, and the most recent year shows an operating loss and a net loss. This suggests higher costs, softer freight conditions, and integration challenges have outweighed scale benefits. Earnings have therefore become more volatile, moving from solid profitability to a noticeable setback recently.

Balance Sheet

Balance Sheet The balance sheet has shifted from a very conservative profile to a more leveraged but still generally solid one. Assets have increased over time as the company expanded its fleet and absorbed acquisitions, while equity has remained steady, signaling that the company still has a meaningful capital cushion. Debt, which was once insignificant, is now a real part of the capital structure, and cash reserves are lower than in prior years. Overall, financial strength remains reasonable, but there is less excess liquidity and less balance sheet “dry powder” than before.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has been consistently positive, even as profits have fluctuated, which is a positive sign of an underlying cash-generative core business. However, heavy and recurring capital spending on equipment has often absorbed most of that cash, leaving free cash flow thin or occasionally negative. The most recent year shows free cash flow moving back into positive territory, but still not comfortably high. The picture is of a company that must continually reinvest in its fleet to stay competitive, which keeps cash flow tight even when operations are healthy.

Competitive Edge

Competitive Edge Heartland holds a credible position in the truckload market, built on a modern fleet, a reputation for reliable service, and long-standing relationships with large shippers. Its focus on safety, efficiency, and driver retention provides real competitive advantages in a tough, commoditized industry. Awards for service quality and sustainability reinforce its brand and help differentiate it from lower‑tier competitors. That said, the trucking sector remains highly competitive and cyclical, and recent margin pressure shows that even well-run carriers are exposed to swings in freight demand, fuel costs, and driver availability.

Innovation and R&D

Innovation and R&D Formal research and development is limited, as is typical in trucking, but Heartland has been an active adopter of proven technologies rather than a radical innovator. The company regularly refreshes its fleet, uses advanced telematics and safety systems, and invests in driver‑friendly in‑cab technology, all aimed at better fuel efficiency, safety, and uptime. Its recognition in environmental and efficiency programs highlights a disciplined approach to operational innovation rather than flashy experimentation. Looking ahead, the key questions are how effectively it continues integrating acquired fleets and systems, and how quickly it embraces the next wave of connectivity, predictive maintenance, and sustainability tools without overextending itself.

Summary

Heartland Express combines a history of disciplined operations and service quality with a more challenging recent financial picture. Revenue is higher than a few years ago, but profitability has deteriorated and turned negative most recently, reflecting a tougher freight market and integration and cost pressures. The balance sheet is still sound but no longer ultra‑conservative, with more debt and thinner cash compared with the past. Cash flow from operations is steady, yet heavy reinvestment in the fleet keeps free cash flow tight. Competitively, the company benefits from a modern, tech‑enabled fleet, strong safety and service credentials, and a driver‑focused culture, all of which help support its standing with major shippers. Key uncertainties center on restoring margins after acquisitions, managing leverage and capital spending, and navigating the cyclical and highly competitive nature of the trucking industry.

NEWS

October 31, 2025 · 9:00 AM UTC

Heartland Express, Inc. Reports Operating Results for the Third Quarter of 2025

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September 12, 2025 · 8:48 AM UTC

Heartland Express, Inc. Declares Regular Quarterly Dividend

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