Heartland Express, Inc. Reports All-Time Records for Total Assets and Stockholders' Equity in 2019 and Provides Historical Financial Review

About this update from Heartland Express, Inc.

[{"type":"text","content":"NORTH LIBERTY, Iowa, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the quarter and year ended December 31, 2019. \n\n \n \n \n \n \n \n \n \n \n \n \n Operating Ratio History as a Public Company (No annual operating ratio above 90.0%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Debt History as a Public Company (in $000's) (as of December 31)\n \n \n \n \n \n \n \n \n\n Heartland Express Chief Executive Officer Michael Gerdin, commented on the operating results and ongoing initiatives of the Company, \"As we embark on a new decade, we look back at operating through the past forty plus years as an organization. These years have been filled with the volatile ups and downs in our industry. The past two years are a great example and reminder of these dynamic conditions. The year of 2018 provided strong demand for freight and elevated freight rates that allowed our industry to increase driver wages and many companies to thrive. In contrast, 2019 provided freight demand which was significantly weaker than the prior year where pricing pressures were the norm and many of our peers were forced to lower freight rates, make short-term reactionary decisions, and some even closed their doors for good. We do not operate based on the short-term mindset. Our operating model is built on the long-term foundations that have stayed true for us in good operating environments and bad, and have allowed us to deliver efficient and consistent operating results. I would like to reflect on the past four decades where we have remained committed to a long-term strategy and disciplined financial approach that have returned value to our stockholders, provided stability and well-deserved wages for our drivers and employees, and allowed us to deliver premium on-time service to our loyal customers over the long haul. During 2019, we completed our eighth acquisition which was also our third in the last six years when we acquired Millis Transfer in August 2019. Previous acquisitions include, H&B Carriers (1987), PDQ Transportation (1989), Munson Transportation (1994), A&M Express (1997), Great Coastal Express (2002), Gordon Trucking (2013), Interstate Distributor (2017), and Millis Transfer (2019), each of which was operating at an operating ratio in the 90's or above when acquired. These eight acq...

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