Hub Group and Heartland on the US fulfilment acquisition trail
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GM: RAISING THE ROOF GGM: IN FULL THROTTLE GZIM: MAERSK BOOST KNIN: READ-ACROSSMAERSK: NOT ENOUGHMAERSK: GUIDANCE UPGRADEZIM: ROLLERCOASTERCAT: HEAVY DUTYMAERSK: CATCHING UP PG: DESTOCKING PATTERNSPG: HEALTH CHECKWTC: THE FALLGXO: DEFENSIVE FWRD: RALLYING ON TAKEOVER TALKODFL: STEADY YIELDVW: NEW MODEL NEEDEDWTC: TAKING PROFIT
GM: RAISING THE ROOF GGM: IN FULL THROTTLE GZIM: MAERSK BOOST KNIN: READ-ACROSSMAERSK: NOT ENOUGHMAERSK: GUIDANCE UPGRADEZIM: ROLLERCOASTERCAT: HEAVY DUTYMAERSK: CATCHING UP PG: DESTOCKING PATTERNSPG: HEALTH CHECKWTC: THE FALLGXO: DEFENSIVE FWRD: RALLYING ON TAKEOVER TALKODFL: STEADY YIELDVW: NEW MODEL NEEDEDWTC: TAKING PROFIT
PRESS RELEASE
Heartland Express, Inc. Reports Revenues and Earnings for the Third Quarter of 2021
NORTH LIBERTY, IOWA – October 14, 2021 – Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three and nine months ended September 30, 2021.
Three months ended September 30, 2021:
– Net Income of $24.5 million, and Basic Earnings per Share of $0.31,
– Operating Revenue of $152.6 million,
– Operating Income of $33.3 million,
– Operating Ratio of 78.2% and 75.0% Non-GAAP Adjusted Operating Ratio(1),
– Cash Balance of $180.4 million and Total Assets of $958.3 million,
– Stockholders’ Equity of $708.8 million (after special dividend of $39.5 million),
– Debt-Free Balance Sheet.
Nine months ended September 30, 2021:
– Net Income of $58.9 million, and Basic Earnings per Share of $0.74,
– Operating Revenue of $459.1 million,
– Operating Income of $78.9 million,
– Operating Ratio of 82.8% and 80.5% Non-GAAP Adjusted Operating Ratio(1)
Heartland Express Chief Executive Officer Mike Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, “Our operating results for the three and nine months ended September 30, 2021 showed strength in terms of profit, overall operating efficiency, and our continued ability to grow our cash balance. At the end of the quarter we had $180 million in cash with no debt on our balance sheet. Further, these quarterly operating results and financial strength allowed us to reward our shareholders with a special dividend of $0.50 per common share ($39.5 million), paid on October 1, 2021…
The full release can be downloaded here.
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