This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Heartland Express, Inc. Reports Revenues And Earnings For The Third Quarter Of 2010

Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the quarter ended September 30, 2010. Operating revenues for the quarter increased 12.2% to $127.2 million from $113.4 million in the third quarter of 2009. Net income was $18.3 million compared to $14.5 million in the 2009 period, a 26.1% increase. Earnings per share increased 25.0% to $0.20 from $0.16 reported in the third quarter of 2009. For the quarter, Heartland Express, Inc. (the “Company”) posted an operating ratio (operating expenses as a percentage of operating revenues) of 77.2% and a 14.4% net margin (net income as a percentage of operating revenues).

Operating revenues for the nine month period increased 7.2% to $370.3 million from $345.3 million in the 2009 period. Net income was $46.8 million compared to $46.3 million in the 2009 period, a 1.2% increase. Earnings per share increased 2.0% to $0.52 from $0.51 reported in the first nine months of 2009. Net income decreased by $0.07 per share due to a decrease in gains on disposal of property and equipment and increased depreciation expense primarily attributable to the purchase of new tractors during the latter half of 2009. For the nine month period, the Company posted an operating ratio of 81.9% and a 12.6% net margin.

Operating revenues continue to improve as a result of tighter industry capacity. However, the increase in freight demand has leveled off in comparison to the second quarter of 2010 and continues to lag dramatically behind that experienced in 2007 prior to the recent recession. Freight rates have increased this year since reaching bottom in the third quarter of 2009 and appear to be stabilizing. The Company continues to focus on improving utilization and cost controls as is reflected in our third quarter and year-to-date operating ratio and net margin. The industry continues to be challenged by driver recruitment and retention. This challenge is expected to amplify with the implementation of the stringent safety requirements of CSA 2010 (Comprehensive Safety Analysis) and the potential impacts on the carriers in the industry and the number of qualified drivers. The Company has begun the installation of PeopleNet® electronic on-board recorders and is currently transitioning to paperless logs. This on-board computing and communications system is expected to improve safety, equipment utilization, and customer service.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs