Heartland Express Q2 net loss $3.5M; revenue $274.8M, operating ratio 99.9%

HEARTLAND EXPRESS INC

2024-Q2 EPS reported -$0.24 revenue$545,074,000

Q2 operating revenue $274.8M (-10.3% YoY); net loss $3.5M vs net income $7.8M in Q2 2023.
Basic loss per share $0.04 vs EPS $0.10 a year ago; operating ratio worsened to 99.9% from 94.7%.
CEO cites weak freight demand, excess capacity; expects market recovery likely into 2025.
Repaid $63.4M debt YTD; total debt repayments of $258.9M since 2022 acquisitions.
Maintained $0.02 quarterly dividend; repurchased 0.6M shares for $7.3M in Q2.

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