Heartland Express posts record Q3 revenue of $274M; net income flat at $24.4M

HEARTLAND EXPRESS INC

2022-Q3 EPS reported $1.50 revenue$613,073,000

Q3 2022 operating revenue $274.0M (record), up 79.5% YoY; net income $24.4M vs $24.5M; EPS $0.31.
Acquired Contract Freighters Inc. (Aug 31) and Smith Transport (May 31); family of four brands.
GAAP operating ratio 87.3%; non-GAAP adjusted 83.7%; legacy ops at low 80s, newer units low 90s.
Debt of $465.0M at Sep 30 from acquisitions; cash $64.8M; $86.8M available on line of credit.
Plan to pay down debt, maintain $0.02/share dividend; no special dividends or buybacks near-term.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

HEARTLAND EXPRESS INC reported financial results for the quarter and nine-month period ended September 30, 2022.

Period: the quarter and nine-month period ended September 30, 2022
Result: reported results

Exact text from the filing

On November 2, 2022, Heartland Express, Inc. announced its unaudited financial results for the quarter and nine-month period ended September 30, 2022.

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Source: SEC EDGAR

accession 0000799233-22-000058

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