Earnings per share for the quarter were helped by a gain on the sale of two properties and the repurchase of 1.09 million shares of its outstanding common stock in a transaction totaling $14 million. A spokesman stated the company was pleased to be able to report an 81% operating ratio during a challenging time for the industry, which included high fuel costs, escalating driver wages and a continued tight market for owner operators. Heartland ended the quarter with no debt and $124.8 million in cash, cash equivalents and municipal bonds.
The driver involved in Humboldt Broncos bus crash last April, Jaskirat Singh Sidhu, was sentenced to serve eight years in prison. He will be deported back to his native India after the sentence is served.