This Day On The Street
Continue to site
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

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

Heartland Express, Inc. (Nasdaq:HTLD) announced today financial results for the quarter ended December 31, 2010. Operating revenues for the quarter increased 13.2% to $129.2 million from $114.2 million in the fourth quarter of 2009. Net income was $15.4 million compared to $10.7 million in the 2009 period, a 43.9% increase. Earnings per share increased 41.7% to $0.17 from $0.12 reported in the fourth quarter of 2009. For the quarter, Heartland Express, Inc. (the “Company”) posted an operating ratio (operating expenses as a percentage of operating revenues) of 81.0% and a 11.9% net margin (net income as a percentage of operating revenues) compared to 86.2% and 9.4%, respectively, in the fourth quarter of last year.

Operating revenues for the year ended December 31, 2010 increased 8.7% to $499.5 million from $459.5 million in the 2009 period. Net income was $62.2 million compared to $56.9 million in the 2009 period, a 9.2% increase. Earnings per share increased 11.3% to $0.69 from $0.62 reported in the year ended December 31, 2009. The Company accomplished this increase in earnings per share despite a decrease in gains on disposal of property and equipment and an increase in depreciation expense which collectively reduced earnings per share by $0.07. These changes were primarily attributable to the purchase of new tractors during the latter half of 2009 and the third and fourth quarters of 2010. For the year ended December 31, 2010, the Company posted an operating ratio of 81.7% and a 12.5% net margin compared to 82.8% and 12.4%, respectively, reported last year.

Operating revenues continue to trend upward as a result of tighter industry capacity. However, freight volumes are still moderate in this less than robust economy. The Company continues to focus on improving utilization and cost controls as is reflected in our fourth quarter and year-to-date operating ratio and net margin. Industry capacity will continue to be restrained by the shortage of qualified drivers. Driver recruitment and retention are expected to be impacted by the stringent safety requirements of the CSA enforcement (Compliance Safety Accountability). The Company will complete the installation of PeopleNet® electronic on-board recorders in all 2009 model and newer trucks, estimated to be approximately 95% of the fleet, by the end of the first quarter. This on-board computing and communications system, including paperless logs, is expected to improve safety, equipment utilization, and customer service.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $247.54 -0.07%
YHOO $36.59 0.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs