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Sep 30, 2020
Heartland Express Q3 2020 Earnings Report
Announced financial results showing revenue, profit, and operating efficiency during volatile times.
Key Takeaways
Heartland Express reported a 9.7% increase in operating revenue, reaching $162.3 million. Net income increased slightly to $20.7 million, with basic earnings per share at $0.25. The company maintained a strong balance sheet with $81.9 million in cash and total assets reaching a record high of $959.8 million.
Net income was $20.7 million, with basic earnings per share of $0.25.
Operating revenue increased by 9.7% over 2019, totaling $162.3 million.
Operating income reached $27.3 million.
Cash balance stood at $81.9 million, and total assets reached a record high of $959.8 million.
Forward Guidance
The Company currently anticipates a total of approximately $12 to $14 million in net capital expenditures for the remainder of calendar year 2020. We expect to record gains on sale of revenue equipment of approximately $4 to $5 million in the remainder of 2020, with all tractor dispositions already contracted with the manufacturers and their affiliates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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