Heartland Profit Gains Following Gordon Trucking Purchase
Trucking company Heartland Express posted double digit gains in profits for the final quarter of last year and for all of 2013, following its purchase of rival Gordon Trucking in November.
by Staff
February 5, 2014
Photo: Evan Lockridge
2 min to read
Photo: Evan Lockridge
Trucking company Heartland Express posted double digit gains in profits for the final quarter of last year and for all of 2013, following its purchase of rival Gordon Trucking in November.
For the quarter, operating revenues increased 34.6% to $183.3 million from $136.2 million a year, earlier while net income increased 10.8% to $15.8 million compared to $14.3 million during the same time. Basic earnings per share increased to 18 cents from 17 cents
Ad Loading...
For the year, operating revenues increased 6.7% to $582.3 million from $545.7 million in 2012, while net income increased 14.7% to $70.6 million compared to $61.5 million during the same time. Basic earnings per share increased to 83 cents from 72 cents .
"Since announcing the Gordon Trucking acquisition on Nov. 11, Heartland and GTI have been meeting with respective customer bases regarding the acquisition. Announcement of the acquisition has been positively received by customers given the significant capacity that the acquisition brings nationwide to the Company's collective customer base, as well as certain different freight offerings to the legacy customer base of Heartland,” said Michael Gerdin, chairman, president, and CEO. “Going forward we will be updating GTI's trailer fleet and fully integrating the operations of both companies under a single platform.
In a move one analyst said could be "the best strategic truckload deal ever," Iowa-based Heartland Express acquired Gordon Trucking of Pacific, Wash., in transactions valued at approximately $300 million during the first half of last November.
New Fleet Advantage research shows generative AI adoption has exploded among private fleets. But poor data integration and weak ROI tracking are preventing fleets from unlocking AI’s full operational and financial value.
When the unexpected happens, how you react to, and deal with operational blind spots is critical. Here’s how to keep you recovery on track, when nothing is normal.
As fleets adopt artificial intelligence for routing, maintenance, and load matching, new security risks are emerging. Learn where the vulnerabilities are and how to put the right controls in place.
CargoNet reports fewer supply chain crime events to start 2026. But losses hold steady as organized crime shifts tactics toward impersonation schemes and high-value goods.
Heavy Duty Trucking is searching for forward-looking leaders at trucking fleets as nominations for HDT’s Truck Fleet Innovators 2026. Deadline is May 15.
Cargo theft rings plant operatives as drivers inside legitimate, fully vetted carriers, then execute coordinated thefts that look like a traditional straight theft from the outside.