Heartland Express Q1 net income $12.6M ($0.16 EPS) vs $16.8M ($0.21) YoY; revenue up 119%

HEARTLAND EXPRESS INC

2023-Q1 EPS reported $0.16 revenue$330,916,000

Operating revenue $330.9M (+118.8% YoY) from acquisitions; fuel surcharge $49.6M vs $24.0M in prior year.
Net income $12.6M ($0.16 basic EPS) vs $16.8M ($0.21) in Q1 2022; operating income $22.9M.
GAAP operating ratio 93.1% vs 85.2% in Q1 2022; non-GAAP adjusted OR 91.4% vs 81.7%.
Paid down $120M variable-rate debt from CFI acquisition and $9M from Smith; debt $366M, cash $55.5M.
Expects volatile freight demand for at least next two quarters; CEO cites 'challenging freight environment'.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEARTLAND EXPRESS INC reported the quarter ended March 31, 2023 results: revenue $330.9 million, net income $12.6 million, EPS $0.16.

Period: the quarter ended March 31, 2023
Revenue: $330.9 million
Net income: $12.6 million
EPS: $0.16
Result: reported results

Exact text from the filing

Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three months ended March 31, 2023. Three months ended March 31, 2023: • Net Income of $12.6 million and Basic Earnings per Share of $0.16, • Operating Revenue of $330.9 million, an increase of 118.8% over 2022, • Operating Income of $22.9 million, • Operating Ratio of 93.1% and 91.4% Non-GAAP Adjusted Operating Ratio (1) , • Total Assets of $1.6 billion, • Stockholders' Equity of $866.6 million (All-time record).

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Source: SEC EDGAR

accession 0000799233-23-000018

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