Heartland Express, Inc. Reports Fourth Quarter and Annual Financial Results

About this update from Heartland Express, Inc.

[{"type":"text","content":"NORTH LIBERTY, Iowa, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the quarter and year ended December 31, 2024. Three months ended December 31, 2024: Operating Revenue of $242.6 million,Operating Income of $1.0 million,Net Loss of $1.9 million and Basic Loss per Share of $0.02,Operating Ratio of 99.6% and 98.9% Non-GAAP Adjusted Operating Ratio(1),Total Assets of $1.3 billion,Stockholders' Equity of $822.6 million. Twelve months ended December 31, 2024: Operating Revenue of $1.0 billion, Operating Loss of $20.2 million,Net Loss of $29.7 million, Basic Loss per Share of $0.38,Operating Ratio of 101.9% and 101.7% Non-GAAP Adjusted Operating Ratio(1),$100.3 million paid for debt reductions in 2024 ($295.9 million paid since acquisitions in 2022). Heartland Express Chief Executive Officer, Mike Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, \"Our consolidated operating results for the fourth quarter reflected both sequential and year-over year operating improvement due to a combination of continued progress with acquisition integration, enterprise-wide cost controls, and a modestly better freight environment. While it is early in the quarter and extreme winter weather conditions so far in 2025 make comparison difficult, we are seeing a positive shift in customer rate and volume negotiations that we expect to strengthen as the year unfolds. Additionally, we generated a 15.6% operating cash flow margin (cash flow from operations as a percentage of operating revenue) for the quarter and paid down $100.3 million of debt during the year.\" Mr. Gerdin continued: \"Our financial goals continue to be (i) generate an operating ratio in the low to mid 80s, (ii) grow revenue profitably, organically and through acquisitions, and (iii) carry a debt-free balance sheet. Throughout our history, these principles have allowed us to generate significant cash flows and be opportunistic with acquiring and disposing of equipment and facilities, making acquisitions, and returning capital to stockholders. In 2022, we incurred substantial debt to acquire CFI and Smith Transport and have been integrating and improving those businesses in the teeth of a deep and lengthy freight market downturn. During 2024, we made progress in the operating ratios o...

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