Loading...
•
Jun 30, 2021
Heartland Express Q2 2021 Earnings Report
Reported revenues, earnings, and record high stockholders' equity.
Key Takeaways
Heartland Express reported a strong second quarter with increased operating income and controlled costs, leading to an improved operating ratio. The company's cash balance increased, and stockholders' equity reached a record high.
Net income was $20.7 million, with basic earnings per share of $0.26.
Operating revenue reached $154.1 million.
Operating income increased to $27.4 million.
The company's cash balance stood at $167.2 million, with total assets of $957.0 million, and record high stockholders' equity of $741.8 million.
Forward Guidance
Heartland Express anticipates strong freight demand for the remainder of 2021 and plans to invest in drivers and creative strategies to address employment challenges.
Positive Outlook
- Freight demand is expected to remain strong throughout the remainder of 2021.
- The company intends to continue investing in its drivers.
- The company will implement creative strategies to address employment challenges.
- Heartland Express fleet operated in the upper 70's (mid-70's non-GAAP adjusted operating ratio(1)), during the second quarter of 2021
- Millis Transfer fleet has shown continued improvement over the 22 months since the acquisition.
Challenges Ahead
- Hiring and retaining safe and professional drivers will be the number one challenge.
- The employment challenge is pronounced within the trucking industry.
- Millis delivered an operating ratio in the low 90's (for both operating ratio and non-GAAP adjusted operating ratio(1))
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...