HEARTLAND EXPRESS INC

Listed Company

HTLDCIK 0000799233NasdaqAcceleratedTrucking (No Local)NevadaFY ends Dec 31

Period

FY 2025

Revenue

$805.71M

Net Income

—

Total Assets

$1.19B

Equity

$755.32M

Shares Out

77.45M

Op. Cash Flow

$89.31M

Business

HEARTLAND EXPRESS INC is a holding company that operates freight transportation and logistics businesses through its subsidiaries. It provides asset-based truckload transportation services, primarily dry van truckload carriage, plus temperature-controlled services, cross-border freight, and Mexico logistics facilitated via third-party providers. The company manages operations across multiple brands and operating units, including Heartland Express, Millis Transfer, Smith Transport, and CFI, and evaluates performance on consolidated and disaggregated bases. It serves nationwide U.S. shippers through a network of strategically located terminals and third-party partnerships for cross-border and Mexico movements.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
OPERATING REVENUE	806	1,048	1,207	968	607
Salaries, wages and benefits	329	428	475	346	250
Rent and purchased transportation	52	80	113	54	4
Fuel	135	177	212	195	100
Operations and maintenance	63	71	63	39	22
Operating taxes and licenses	17	20	22	16	14
Insurance and claims	58	51	45	34	21
Communications and utilities	9	9	11	7	4
Depreciation and amortization	159	182	199	133	104
Impairment of trade name	19	0	0	—	—
Other operating expenses	46	57	66	51	21
Gain on disposal of property and equipment	−23	−8	−41	−97	−37
Total operating expenses	863	1,068	1,165	780	502
Operating income	−57	−20	42	188	105
Interest income	774,000	1	2	1	640,000
Interest expense	−11	−18	−24	−9	0
Income before income taxes	−68	−37	20	181	106
Federal and state income tax expense	−16	−7	5	48	27
Net Income	−52	−30	15	134	79
Other comprehensive income, net of tax	0	0	0	0	0
Comprehensive income	−52	−30	15	134	79
Basic (per share)	−0.67	−0.38	0.19	1.69	1
Diluted (per share)	−0.67	−0.38	0.19	1.69	1
Basic (shares)	78	79	79	79	80
Diluted (shares)	78	79	79	79	80
Dividends declared per share	0.08	0.08	0.08	0.08	0.58

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	13	28	49	158
Trade receivables, net	74	92	103	140	53
Prepaid tires	12	10	11	11	9
Other current assets	9	13	18	26	9
Income tax receivable	1	2	10	3	4
Total current assets	115	129	169	230	233
Land and land improvements	120	120	119	94	90
Buildings	172	151	150	144	95
Furniture and fixtures	7	7	7	7	5
Shop and service equipment	20	21	21	22	16
Revenue equipment	829	976	1,021	1,000	500
Construction in progress	1	9	3	15	4
Property and equipment, gross	1,149	1,284	1,320	1,282	711
Less accumulated depreciation	481	520	435	309	223
Property and equipment, net	667	764	885	973	488
GOODWILL	323	323	323	321	168
OTHER INTANGIBLES, NET	70	94	99	104	22
DEFERRED INCOME TAX ASSETS, NET	1	946,000	1	1	0
OTHER ASSETS	15	15	15	20	17
OPERATING LEASE RIGHT OF USE ASSETS	2	8	17	21	0
Assets	1,192	1,334	1,510	1,669	929
Accounts payable and accrued liabilities	33	35	38	63	21
Compensation and benefits	25	27	28	31	21
Insurance accruals	31	24	22	18	16
Long-term debt and finance lease liabilities - current portion	6	9	9	14	0
Operating lease liabilities - current portion	1	6	9	12	0
Other accruals	13	19	17	19	14
Total current liabilities	110	120	123	157	72
Income taxes payable	5	6	6	6	5
Long-term debt and finance lease liabilities less current portion	154	192	291	399	0
Operating lease liabilities less current portion	317,000	2	8	9	0
Deferred income taxes, net	134	158	189	208	90
Accident and work comp accruals less current portion	33	34	27	35	34
Total long-term liabilities	326	392	521	657	130
COMMITMENTS AND CONTINGENCIES (Note 12)	—	—	—	—	—
Preferred stock, par value $.01; authorized 5,000 shares; none issued	0	0	0	0	0
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2025 and 2024; outstanding 77,445 and 78,519 in 2025 and 2024, respectively	907,000	907,000	907,000	907,000	907,000
Additional paid-in capital	3	3	5	4	4
Retained earnings	965	1,024	1,060	1,052	924
Treasury stock, at cost; 13,244 and 12,170 shares in 2025 and 2024, respectively	−214	−206	−200	−201	−202
Stockholders' Equity Attributable to Parent	755	823	865	855	727
Liabilities and Stockholders' Equity	1,192	1,334	1,510	1,669	929

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	−52	−30	15	134	79
Depreciation and amortization	159	182	199	133	104
Impairment of trade name	19	0	0	—	—
Deferred income taxes	−25	−30	−18	2	−6
Stock-based compensation expense	2	1	2	1	1
Debt-related amortization	175,000	1	1	360,000	0
Trade receivables	17	11	37	20	3
Prepaid expenses and other current assets	2	4	9	845,000	4
Accounts payable, accrued liabilities, and accrued expenses	−10	5	−31	−1	−18
Accrued income taxes	89,000	8	−7	1	−6
Net cash provided by operating activities	89	144	165	195	123
Proceeds from sale of property and equipment	130	63	137	173	130
Purchases of property and equipment, net of trades	−156	−110	−209	−161	−133
Change in other assets	251,000	4,000	3	411,000	−191,000
Net cash used in investing activities	−26	−47	−68	−663	−3
Cash dividends paid	−6	−5	−6	−6	−46
Shares withheld for employee taxes related to stock-based compensation	−365,000	−407,000	−290,000	−290,000	−247,000
Repayments on finance leases and debt	−41	−100	−114	−81	0
Repurchases of common stock	−10	−7	0	0	−32
Net cash used in financing activities	−58	−113	−121	359	−78
Net increase (decrease) in cash and cash equivalents	5	−15	−23	−109	43
Cash paid during the period for interest expense	12	18	22	6	0
Income Taxes Paid Net of Amounts Refunded	9	16	30	44	39
Purchased property and equipment in accounts payable	11	3	4	12	9
Sold revenue equipment and property in other current assets	547,000	864,000	3	2	2
Common stock dividends declared in accounts payable	2	2	0	0	—
Right-of-use assets obtained in exchange for operating lease liabilities	0	0	8	3	0

Filings

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