Revenues Up Nearly 22% at Heartland Express
Heartland Express Inc. said gross revenues for the second quarter ending June 30 increased 21.9% to $102.8 million from $84.4 million in the second quarter of 2002
Heartland Express Inc. said gross revenues for the second quarter ending June 30 increased 21.9% to $102.8 million from $84.4 million in the second quarter of 2002.
Net income increased 14.6% to $12.6 million from $11.0 million in the 2002 period.
Basic earnings per share were $0.25 compared to $0.22 for the second quarter of 2002. Fuel surcharge revenues increased gross revenues for the second quarter of 2003.
For the six months, revenue increased 25.4% to $197.6 from $157.6 during the same period in 2002. Net income increased 15.2% to $23.7 million from $20.6 million in the 2002 period. Basic earnings per share were $0.47 compared with $0.41 for the 2002 period.
For the quarter, Heartland Express, Inc. posted an operating ratio (operating expenses as a percentage of gross revenues) of 81.9% and a 12.3% net margin. The company ended the six months ended June 30, 2003 with an operating ratio of 82.4% and a 12.0% net margin.
The company ended the second quarter with cash, cash equivalents, and investments of $163.5 million, a $9.6 million increase from the $153.9 million reported on Dec. 31, 2002.
The company's balance sheet continues to be debt-free.
More Drivers
Roehl Offers Truck Drivers $10,000 Retention Incentive
Payments begin after the first load and continue in mileage-based installments for eligible experienced drivers joining the fleet.
Read More →
Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
When Language Stops the Truck: The Return of ELP Out-of-Service Orders
English language proficiency rules for commercial drivers aren’t new, but renewed out-of-service enforcement has raised the stakes. Here’s what carriers need to know before a driver reaches a roadside inspection.
Read More →
Samsara Launches Custom AI Agent Builder
Agent Studio lets fleets create AI tools for hours-of-service monitoring, reporting and driver support, including agents that communicate by phone.
Read More →
Trucker Path Expands Reserved Parking Network
Trucker Path has added close to 6,000 more truck parking spaces to its Trucker Path Reserved Parking Network with the addition of Safe Truck Parking.
Read More →
EEOC Sues Texas Trucking Company Over Driver Age Limits
The agency says Trancasa USA rejected applicants over 65 and applied tougher driving-record standards to those over 60.
Read More →
Nussbaum, Roehl Announce Second Driver Pay Increase This Year
This year has seen a swath of major truck driver pay increases as freight capacity has tightened.
Read More →
From One Generation to the Next: How Mentorship Builds Safer Truck Drivers
After three decades in trucking, Harold Perry shares what he's learned about driver safety, mentorship, and helping the next generation build confidence behind the wheel.
Read More →
Truck Drivers Need More Than Another Alert
Fleets have more visibility into truck health, safety events, and driver activity than ever. The next challenge is turning all that information into useful guidance for the person who has to decide what to do next.
Read More →
FMCSA Removes 110 Truck Driver Training Schools from Certified ELDT List
Federal regulators also are targeting more than 160 additional training providers and launching a nationwide audit of third-party CDL skills testers as part of a broader crackdown on trucking fraud.
Read More →