Profit, Revenue Drop at Heartland Express

Truckload carrier focuses on costs, customer service; continues fleet upgrade

Overcapacity and depressed truckload rates put a dent in revenue and profit at Heartland Express during the third quarter, but the company continued an extensive overhaul of its tractor fleet as it positions itself for long-haul recovery.
The North Liberty, Iowa-based carrier’s third-quarter net income fell 22.5 percent year-over-year to $14.5 million while its revenue dropped 33.3 percent to $113.4 million.
Despite signs that some of the core industries served by truckload carriers are beginning to recover, Heartland didn't have high hopes for the fourth quarter. The company said it "still 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."
Heartland also improved its operating ratio -- operating expenses as a percentage of operating revenue -- a key measure of profitability and a company's ability to control costs. The third quarter OR was 80.2, down from 83.2 a year ago.
Profit, Revenue Drop at Heartland Express | Journal of Commerce

Some Trucking Companies also had a BIG bounce