Heartland Express Inc. Turns Q2 Loss into $10.6M Profit

By Bobby Samwell • Wednesday, August 05 13:05 • Permanent Link

Heartland Express swung to a second-quarter profit of $10.6 million from a loss of $10.9 million a year earlier, even as operating revenue fell to $184.1 million from $210.4 million.

The company’s operating ratio improved to 91.0% from 105.9% in the second quarter of 2025, a 1,490-basis-point gain. Fuel surcharge revenue rose to $31.7 million from $24.5 million.

Basic earnings per share moved to $0.14 from a loss of $0.14.

For the first six months of 2026, operating revenue declined to $360.4 million from $429.8 million, while net income improved to $5.8 million from a loss of $24.7 million. Operating income turned positive at $13.3 million, compared with an operating loss of $27.3 million a year earlier. Basic earnings per share improved to $0.07 from a loss of $0.32.

The six-month operating ratio improved to 96.3% from 106.4%, and fuel surcharge revenue increased to $54.2 million from $50.8 million.

Cash on hand rose to $62.4 million at June 30, up $43.9 million from December 31, 2025. Debt stood at $134.9 million, down from $447.3 million of borrowings tied to the CFI acquisition in 2022, plus $46.8 million assumed from the Smith acquisition. The company said it repaid $25 million of debt and finance lease obligations during the first half.

Heartland bought back 172,061 shares for $2.3 million in the quarter and repurchased 3.0 million shares for $37.0 million over the past five years. Shares outstanding were 77.3 million at quarter end.

Total assets were $1.2 billion and stockholders’ equity was $756.3 million. Net cash from operations for the first half was $36.0 million, or 10.0% of operating revenue.

The average age of the tractor fleet fell to 2.3 years from 2.6 years a year earlier, and the trailer fleet age declined to 7.1 years from 7.5 years. For the rest of 2026, the company expects net capital expenditures of $8 million to $14 million and gains on disposal of property and equipment of $13 million to $19 million. Following these announcements, the company's shares moved -0.08%, and are now trading at a price of $12.77. For the full picture, make sure to review HEARTLAND EXPRESS INC's 8-K report.

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