Heartland Express reports Q1 net loss of $15.1M; revenue down 18% YoY

HEARTLAND EXPRESS INC

2024-Q1 EPS reported -$0.19 revenue$270,320,000

Net loss of $15.1M ($0.19 basic loss per share) vs net income of $12.6M ($0.16 EPS) in Q1 2023.
Operating revenue $270.3M, down 18% from $330.9M in Q1 2023; fuel surcharge fell to $36.2M from $49.6M.
Operating ratio of 105.3% (non-GAAP adj. 105.6%) vs 93.1% in Q1 2023; operating loss of $14.4M.
Repaid $36.7M of acquisition-related debt in Q1; total debt repayments $232.2M since 2022 acquisitions.
CEO cites extended weak freight demand, excess capacity, and cost inflation; sequential monthly improvement in 2024.

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 1.0

HEARTLAND EXPRESS INC reported the three months ended March 31, 2024 results: revenue $270.3 million, net income Net Loss of $15.1 million, EPS Basic Loss per Share of $0.19.

Period: the three months ended March 31, 2024
Revenue: $270.3 million
Net income: Net Loss of $15.1 million
EPS: Basic Loss per Share of $0.19
Result: reported results

Exact text from the filing

Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three months ended March 31, 2024. Three months ended March 31, 2024: • Operating Revenue of $270.3 million, • Net Loss of $15.1 million, • Basic Loss per Share of $0.19, • Operating Ratio of 105.3% and 105.6% Non-GAAP Adjusted Operating Ratio (1) , • Total Assets of $1.5 billion, • Stockholders' Equity of $848.8 million.

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Source: SEC EDGAR

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