Heartland Express, Inc. Reports Revenues, Earnings and Record High Stockholders' Equity for the Fourth Quarter and Year Ended December 31, 2020

About this update from Heartland Express, Inc.

[{"type":"text","content":"NORTH LIBERTY, Iowa, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the quarter and year ended December 31, 2020. Three months ended December 31, 2020: Net Income of $17.7 million and Basic Earnings per Share of $0.22, Operating Revenue of $155.8 million,Operating Income of $23.8 million, a 34.6% increase over 2019,Operating Ratio of 84.7% and 83.3% Non-GAAP Adjusted Operating Ratio(1),Cash balance of $113.9 million and a Debt-Free Balance Sheet,Increased Driver pay by approximately 6% in late October 2020. Twelve months ended December 31, 2020: Net Income of $70.8 million, Earnings per Share of $0.87,Operating Revenue of $645.3 million, third highest annual revenue in the company's history, Operating Income of $93.4 million,Operating Ratio of 85.5% and 84.0% Non-GAAP Adjusted Operating Ratio(1),Our forty-third consecutive year with an annual operating ratio in the 80's or below.Stockholders' Equity of $724.3 million (a record high) and Total Assets of $951.2 million. 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 twelve months ended December 31, 2020 continued to show strength and discipline in terms of overall profitability and operating efficiency during the volatile times experienced throughout 2020. We continue to be extremely proud of our drivers and our team of employees that support them and our loyal customers each day.” Mr. Gerdin continued, “From a financial perspective, we delivered strong operating results as we focused on driver utilization to take advantage of periods where freight demand peaked in the second half of 2020, along with our consistent focus on cost controls. Freight demand throughout 2020 showed a wide range of peaks and valleys altered by the impacts of the COVID-19 virus. Freight demand was also impacted by varying levels of social, political, and economic impacts felt state by state and industry by industry across the United States. Through all of this, Heartland Express drivers and America's truck drivers, along with all those who work in the transportation industry have ensured that critical goods and supplies moved through the supply chain to prevent shortages and re-supply where most needed, while ...

More updates from Heartland Express, Inc.