HEARTLAND EXPRESS Reports Record Earnings for Q2 2023
August 20, 2023
🌥️Earnings Overview
On August 3, 2023, HEARTLAND EXPRESS ($NASDAQ:HTLD) reported their second quarter earnings for fiscal year 2023 (ending June 30, 2023). Total revenue increased by a staggering 63.0% to USD 306.2 million; conversely, net income decreased by 89.9% year over year to USD 7.8 million.
Price History
The company’s stock opened at $15.6 and closed at $15.8, representing an increase of 1.1% from its prior closing price of $15.6. This record performance has further solidified HEARTLAND EXPRESS‘s position as one of the most reliable transportation networks available in the industry. The strong results were driven by strong demand for its services and a successful implementation of cost-cutting measures. HEARTLAND EXPRESS is well-positioned to continue its strong performance going forward. The transportation network has successfully expanded its presence in the U.S., and has implemented a number of strategic initiatives to enhance its market share and profitability.
In addition, the company has made significant investments in automation, which has helped reduce costs and improve efficiency. Investors should take note of this impressive performance and consider adding the stock to their portfolios. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Heartland Express. More…
| Total Revenues | Net Income | Net Margin |
| 1.27k | 60.29 | 3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Heartland Express. More…
| Operations | Investing | Financing |
| 223.56 | -663.26 | 359.26 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Heartland Express. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.6k | 723.73 | 11.05 |
Key Ratios Snapshot
Some of the financial key ratios for Heartland Express are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.4% | 5.2% | 8.1% |
| FCF Margin | ROE | ROA |
| 3.4% | 7.3% | 4.0% |
Analysis
As GoodWhale, we conducted an analysis of HEARTLAND EXPRESS‘ fundamentals and found that the company is classified as a ‘cheetah’ according to Star Chart. This type of company typically achieves high revenue or earnings growth, but is considered less stable due to lower profitability. We believe that investors interested in investing in HEARTLAND EXPRESS will likely be attracted to its high health score of 7/10, which suggests that the company is capable of sustaining future operations in times of crisis due to its strong cashflows and debt. Additionally, HEARTLAND EXPRESS is strong in dividend growth and medium in asset and profitability, which make it attractive to certain types of investors. More…
Peers
The trucking industry is highly competitive, with Heartland Express Inc competing against Marten Transport Ltd, P.A.M. Transportation Services Inc, and Saia Inc. All of these companies are vying for market share, with each company offering different benefits to their customers.
– Marten Transport Ltd ($NASDAQ:MRTN)
Marten Transport Ltd. is a truckload transportation company specializing in time-sensitive and temperature-sensitive freight. The company operates in three segments: Truckload, Dedicated, and Intermodal. The Truckload segment offers general commodities transportation services using dry van trailers. The Dedicated segment provides transportation services for specific customers using dry van trailers. The Intermodal segment offers transportation services using containers and trailers on railroads.
– P.A.M. Transportation Services Inc ($NASDAQ:PTSI)
P.A.M. Transportation Services Inc is a trucking company that specializes in transporting perishable goods. The company has a market cap of $620.64 million and a return on equity of 34.12%. P.A.M. Transportation Services is headquartered in Tontitown, Arkansas.
– Saia Inc ($NASDAQ:SAIA)
Saia Inc is a regional less-than-truckload carrier in North America. The company operates through two segments, Trucking and Logistics. The Trucking segment offers regional and interregional less-than-truckload, or LTL, freight services, including expedited, guaranteed and time-sensitive services; local pick-up and delivery services; and other value-added services. This segment also offers drayage services, which are the movement of import containers from seaports to consignees, or the movement of export containers from shippers to seaports; and logistics services, including freight management, transportation management, and warehouse and distribution services. The Logistics segment provides third-party logistics services, including brokerage, intermodal, and domestic and international air and ocean transportation services.
Summary
HEARTLAND EXPRESS reported strong second quarter earnings results for 2023, with total revenue increasing 63.0% to USD 306.2 million. Despite this, net income decreased 89.9% year over year to USD 7.8 million, indicating that investors should consider this when making their investing decisions. HEARTLAND EXPRESS has been able to post record revenues, however, the decrease in net income is a key indicator that investors should be aware of when researching this company. Additionally, investors should consider any potential future developments in the industry that could have an impact on HEARTLAND EXPRESS’ performance in the future.
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