Heartland Express Profit Increases 43%
Profit and earnings for truckload carrier Heartland Express shot up in the third quarter of the year compared to the same time in 2013, as loads turned down were the highest since before the Great Recession.
Photo: Evan Lockridge
Photo: Evan Lockridge
Profit and earnings for truckload carrier Heartland Express shot up in the third quarter of the year compared to the same time in 2013.
The Iowa-based carrier reported net income was $22.7 million for the most recent quarter compared to $15.9 million a year ago, a 43% gain, with earnings per share of 26 cents compared to 19 cents.
Revenue increased more than 66% to $217.1 million.
Freight demand continued to be strong throughout the quarter as the company experienced above normal volumes of freight across the entire United States, Heartland said in a statement.
“All regions of the country were strong, with some like the West Coast being extremely overbooked. Loads turned down throughout the quarter were the highest the company has seen since before the recession.”
According to the company, its operating results continue to be favorably affected by the purchase of Gordon Trucking nearly a year ago, as it continues to develop operational efficiencies since the purchase.
Heatland said a dividend of 2 cents per share was declared during the quarter and was paid on October 2.
More information in on the Heartland Express website.
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