Truckload carrier Heartland Express reported another loss in the third quarter and said cost cutting alone won’t return it to profitability.
Marten Transport turned in a quarterly earnings report that was negative by almost every measure.
Heartland Express’ Q2 earnings saw a net loss of $3.5 million as it works to improve its operating ratio and profitability
Truckload carrier Heartland Express reported another quarterly net loss on Tuesday and said improvement in the freight market will not likely occur until 2025.
Todd Spencer, president of the Owner-Operator Independent Drivers Association, highlights regulatory challenges at the FreightWaves Small Fleet & Owner-Operator Summit.
Heartland Express said Tuesday weak freight fundamentals led to another net loss during the first quarter.
Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.
Heartland Express books a third-quarter net loss and makes changes to cull unprofitable accounts.
Truckload carrier Heartland Express reported worse-than-expected second-quarter results on Monday.
Federal rules on driver instructor background requirements are hampering carriers’ ability to staff trainers, according to companies.
At the recent UBS Global Industrial and Transportation Conference, Heartland CEO Mike Gerdin and Vice President of Finance Josh Helmich highlighted freight market weakness and outlined the retention impact of their driver minimum pay program.
Heartland executives used the UBS transportation conference to boast about the success of the company’s driver pay protection program.
Knight-Swift’s David Jackson and fellow trucking executives sound off on regulations and the economy at TCA’s annual meeting.
Truckload carrier Heartland Express missed fourth-quarter expectations Friday.
Deal flow slowed in 2022, but there were still a number of transactions that changed trucking’s landscape during the year.
Recapitulación de las transacciones más impactantes del año
Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.
On Monday, the Iowa-based truckload carrier acquired several assets from the Contract Freighters Inc. (CFI) portfolio
Truckload carrier Heartland Express will take on another difficult turnaround in CFI, which it acquired from TFI International for $525 million.
Se espera que el acuerdo cree la octava mayor flota de camiones de Estados Unidos
Heartland Express announced Monday the acquisition of CFI’s non-dedicated dry van and temperature-controlled fleet in the U.S. and its logistics operation in Mexico.
Truckload carrier Heartland Express said it expects freight demand to exceed its available capacity for the rest of 2022.
El transportador supera las expectativas del segundo trimestre
Primera adquisición de Heartland en casi 3 años
Heartland Express made its first acquisition since 2019 with its purchase of Smith Transport, a Pennsylvania-based truckload carrier.
Truckload carrier Heartland Express beat first-quarter expectations Thursday.
The truckload carrier’s OR is one of the best in the industry but it’s being done on a smaller base of business.
Heartland Express announced 2021 was its best year since going public. Fourth-quarter results were in line with consensus.
Truckload carriers booked record gains on the sale of revenue equipment during the third quarter but the profits shouldn’t be viewed as artificial earnings.
Carriers have overcome notable cost inflation and disruption to post better-than-expected results so far in the third-quarter earnings season.
Heartland Express beats expectations in the third quarter with the help from gains on sale.
Truckload carrier Heartland Express announced a 50-cent-per-share special dividend Friday. It was the second carrier to announce a special dividend this week.
Heartland Express records its best consolidated operating ratio since its last acquisition was fully integrated.
At a UBS conference, two execs from the truckload carrier reviewed the market for drivers in the midst of the freight boom.
First-quarter earnings reports from truckload carriers highlight a booming freight market. A strong consumer, tight truck capacity and elevated rates appear the likely dynamics for the remainder of the year.
Heartland Express reported a slight miss on first-quarter earnings expectations Wednesday. The carrier pointed to relative strength in March as it exited the quarter, noting that driver pay will need to be raised again.
In today’s edition of The Daily Dash, Heartland Express announces an operating income improvement in its Q4 earnings. Plus, an appeals court says California can’t regulate a truck driver’s meal and rest breaks, and Daseke’s board chairman talks the future of the company.
Fourth-quarter results for Heartland Express displayed a revenue dip on driver employment headwinds but operating income jumped 35%. The company mentions getting back into M&A.
A couple more truckload carriers have announced pay increases for drivers ahead of the new year. Beacon Transport and Bay and Bay Transportation are the latest.
Schneider National announces a per-mile pay increase of 4 cents for most drivers beginning in late January. Earlier this year, the company announced an increase in team driver pay.
Frozen Food Express is raising linehaul driver pay by 25% for new solo drivers and 20% for team drivers.
C.R. England is boosting driver pay an average of 15.5%, and when combined with a new bonus program, means some drivers could see a 25% pay increase.
Most companies have women now, but a second rule would deal with diversity or sexuality.
Heartland Express raises driver pay 6% across the board and as high as 12% for some.
Bottom line on operating and net income largely unchanged; revenues up but costs were too
Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.
Improving demand and truckload fundamentals are expected to drive third-quarter growth. The carrier’s growing cash balance garners some attention.
Heartland Express announced the family trust of founder and current CEO will sell up to $76.9 million in stock. The family will still hold roughly 40% of the company’s outstanding stock following the transaction.
The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.
Tightened capacity seen as a spur to both Heartland and Marten beating estimates, with optimism from analysts going forward The earnings reports of truckload carriers Heartland Express and Marten Transport […]
In today’s edition of The Daily Dash, Heartland reports better-than-expected earnings, a carrier’s owner talks about his driver who killed four kids and why autonomous trucks will be on roadways in 2024.
Heartland’s expenses were up more than revenue so operating ratio rose. Cash stockpile rose and it has plenty of borrowing capability.
Anthony and Zach break down the Knight-Swift and Heartland earnings; slowing decline of freight rates and volumes and what the rise in imports mean for the recovery.
Heartland Express’ better than expected result was diminished by the lack of gains on equipment sales.
Most companies are right near the 25% decline in the market since February 1.
Truckload carrier heads talk demand, rates and capacity at investor conference.
Heartland Express’ financial results were worse than expected in the fourth quarter of 2019. That said, a large acquisition shoulders more of the blame than weaker market fundamentals.
Heartland Express continues to perform. The carrier posts another solid quarter in the face of a “softer” environment.
Third quarter 2019 is likely to see another step down in earnings expectations for the year. Equity analysts have been busy lowering estimates on many publicly traded transportation companies.
The bulls are coming out in support of truckload carriers, kind of. Several equity analysts are using a recent positive inflection in TL volumes, a belief that fundamentals aren’t getting materially worse, and attractive valuation multiples to become more positive on the stocks.
Heartland Express once again uses its strong financial position to acquire. The carrier has a pattern of building cash balances and finding accretive tuck-in deals.
Heartland Express has acquired Millis Transfer for approximately $150 million.
The clean balance sheet and deteriorating fundamentals in the TL space that could force some carriers to look for the exit begs the question, ‘will we see Heartland become acquisitive again?’
Eroding fundamentals in the truckload carrier market have led analysts to lower their earnings estimates for the carriers they cover.
The negative data and commentary centered on the lack of a seasonal increase in demand is forcing analysts to meaningfully lower earnings estimates and the outlook for the sector.
Heartland Express, Inc. (NASDAQ: HTLD) announced a first quarter 2019 profit of $0.21 per share, which was $0.02 ahead of analysts’ estimates.
Investors may be starting to come around to the idea that truckload carriers have another year of strong margins ahead of them.
Heartland continues its strategy of being willing to walk away from revenue if it isn’t profitable and it is showing in the company’s operating ratio.
Investment bank Stifel Nicolaus (NYSE: SF) thinks that publicly-traded truckload stocks are now an attractive buy, with higher earnings available at reasonable valuations. That’s just one takeaway from a raft of research released this week by Stifel and Morgan Stanley (NYSE: MS) as the banks look forward to what next year holds for transportation.
There’s been a flight to quality that has led some shippers and carriers out of the spot market, Fuller said.
The CEO of Heartland defends the company’s strategy that saw a lot less revenue but a lot more in profits.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
We visualized the performance metrics of the publicly-traded truckload carriers over the past six quarters, using TCA InGauge’s data.
The details in the company statement are not precise, but the all-in number for some drivers could be as high as 67.5 cts per mile.
Gerdin says timetable could speed up on the back of a strong freight market.
Heartland has five “sell” ratings from equity analysts, seven “hold” ratings, and one “underweight.” That has not shifted much in recent months.
Seeking to build “greater lane density to improve utilization and yields through more efficient dispatch and capacity allocation,” Heartland Express Inc. announced it is acquiring Interstate Distributer Co. (IDC) of Tacoma, WA, from Saltchuk Resources.
