Heartland Express, Inc. Reports Revenues and Earnings for the Third Quarter of 2021

About this update from Heartland Express, Inc.

[{"type":"text","content":"NORTH LIBERTY, Iowa, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three and nine months ended September 30, 2021. Three months ended September 30, 2021: Net Income of $24.5 million, and Basic Earnings per Share of $0.31, Operating Revenue of $152.6 million,Operating Income of $33.3 million, Operating Ratio of 78.2% and 75.0% Non-GAAP Adjusted Operating Ratio(1),Cash Balance of $180.4 million and Total Assets of $958.3 million, Stockholders' Equity of $708.8 million (after special dividend of $39.5 million),Debt-Free Balance Sheet. Nine months ended September 30, 2021: Net Income of $58.9 million, and Basic Earnings per Share of $0.74, Operating Revenue of $459.1 million,Operating Income of $78.9 million, Operating Ratio of 82.8% and 80.5% Non-GAAP Adjusted Operating Ratio(1) Heartland Express Chief Executive Officer Mike Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, “Our operating results for the three and nine months ended September 30, 2021 showed strength in terms of profit, overall operating efficiency, and our continued ability to grow our cash balance. At the end of the quarter we had $180 million in cash with no debt on our balance sheet. Further, these quarterly operating results and financial strength allowed us to reward our shareholders with a special dividend of $0.50 per common share ($39.5 million), paid on October 1, 2021. “Freight demand has continued to be strong and has reached unprecedented levels throughout the third quarter of 2021 and we expect these trends to continue for the remainder of 2021 and well into 2022. We also believe that hiring and retention of employees has reached levels of unprecedented challenge across our industry for both carriers and shippers. We continue to partner with our customers who have had to navigate their own employment related disruptions in order to deliver our strong operating results during the quarter. We believe that this shared challenge of hiring and retaining both drivers and other supply chain critical employees will continue in the year ahead. To address that challenge, we have increased wages and enhanced the compensation features for our drivers multiple times in the last twelve months. We will continue to invest in our drivers, our fleet of revenue...

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