Heartland Express’ 1Q Income Improves
Heartland Express said Tuesday its first-quarter profit rose 19% from a year ago.
Net income rose to $19.7 million or 23 cents a share, from $16.6 million, or 19 cents, a year ago. Revenue was flat at $134.3 million, the truckload carrier said.
Operating income was positively impacted by a $7 million sale of property and equipment but negatively impacted by weather complications year-over-year, the company said.
It added that Easter and Good Friday in this year’s first quarter and a Leap Year in last year’s first quarter accounted for fewer business days in this year’s period.
Heartland took delivery of 485 new trucks in the quarter, which included International ProStar Plus and Freightliner Cascadia models.
It said it would add 190 new trucks in the current quarter and that its fleet’s average age improved to 3.1 years as of March 31, from 4.1 years a year ago.
Heartland Express is ranked No. 47 on the Transport Topics 100 listing of U.S. and Canadian for-hire trucking companies.
