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Sep 30, 2021
Heartland Express Q3 2021 Earnings Report
Reported revenues and earnings for the third quarter of 2021.
Key Takeaways
Heartland Express reported a strong third quarter with improved operating income and cost control, resulting in an operating ratio of 78.2% and a non-GAAP adjusted operating ratio of 75.0%. Net income increased by 18.1% to $24.5 million, and basic earnings per share were $0.31.
Net income reached $24.5 million, with basic earnings per share at $0.31.
Operating revenue totaled $152.6 million.
Operating income amounted to $33.3 million.
The company maintained a strong cash balance of $180.4 million and total assets of $958.3 million, along with a debt-free balance sheet.
Forward Guidance
Freight demand is expected to remain strong through the remainder of 2021 and into 2022, while challenges in hiring and retaining employees are anticipated to persist across the industry.
Positive Outlook
- Freight demand is expected to remain strong for the remainder of 2021 and well into 2022.
- Company will continue to invest in drivers.
- Company will invest in the fleet of revenue equipment.
- Company will invest in terminal locations.
- Company will invest in technology.
Challenges Ahead
- Hiring and retention of employees has reached unprecedented challenge across the industry.
- Customers have had to navigate their own employment related disruptions.
- Shared challenge of hiring and retaining both drivers and other supply chain critical employees will continue in the year ahead.
- Increase wages.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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