Heartland Reports Improved 2Q Profit

Truckload carrier Heartland Express said its second-profit rose 2.2% from a year ago.

Earnings were $17.6 million, up from $17.2 million a year ago. Per-share earnings rose 5.6% to 19 cents, from 18 cents.

Revenue fell 29% to $117 million, from $164.6 million last year.

Heartland said it is seeing the worst economic downturn in its history, and that it “has not seen any strong indicators of improvements in the demand for freight services that would increase our levels of business in the near future.”

Operating profit in the quarter was helped by $4.2 million, or 3 cents, from disposal of property and equipment, Heartland said.

Heartland Express is ranked No. 43 on the Transport Topics 100 listing of U.S. and Canadian for-hire trucking companies.