Heartland Express Q3 net loss of $10.7M vs profit; revenue +7.7% to $295M

HEARTLAND EXPRESS INC

2023-Q3 EPS reported $0.12 revenue$932,111,000

Net loss of $10.7M ($0.14 loss per share) vs net income of $24.4M ($0.31 EPS) in Q3 2022.
Operating loss of $7.4M; operating ratio of 102.5% (non-GAAP adjusted 102.4%) vs 87.3% a year ago.
CEO cites weak freight demand, strategic shift away from unprofitable customers, and integration headwinds from Smith/CFI acquisitions.
Cash $20.1M; debt $343.9M; no borrowings under $100M credit line; $88M unused capacity after LCs.
Regular dividend maintained at $0.02/share; paid Oct 5, 2023; net capex outlook $60-65M for 2023.

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 0.95

HEARTLAND EXPRESS INC reported the quarter ended September 30, 2023 results: revenue $295.0 million, net income $10.7 million, EPS $0.14.

Period: the quarter ended September 30, 2023
Revenue: $295.0 million
Net income: $10.7 million
EPS: $0.14
Result: reported results

Exact text from the filing

Inc. (Nasdaq: HTLD) announced today financial results for the three and nine months ended September 30, 2023. Three months ended September 30, 2023: • Operating Revenue of $295.0 million, an increase of 7.7% over 2022, • Net Loss of $10.7 million, • Basic Loss per Share of $0.14, • Operating Loss of $7.4 million, • Operating Ratio of 102.5% and 102.4% Non-GAAP

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Source: SEC EDGAR

accession 0000799233-23-000041

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