Tighter capacity should provide a pricing boost for Heartland and its peers in the year ahead.
In the first quarter, full-truckload carrier Heartland Express’ revenue net of fuel surcharges declined more than 20% relative to the same period last year. Core revenue once again came in shy of our forecast, likely because of lingering pressure on tractor utilization (lackluster freight demand) and soft pricing conditions (excess industry capacity). Overall profitability was roughly in line with our expected run rate. Its operating ratio (net of fuel surcharges) improved to 83.2% from 86.5%, w...Heartland Express is a holding company. Through its subsidiaries, the company is engaged as a short-to-medium haul truckload carrier. The company primarily provides asset-based dry van truckload service for shippers from Washington to Florida and New England to California. The company also provides temperature-controlled truckload services, which are not significant to its operations. The company operates terminal facilities throughout the contiguous United States in addition to its terminal and corporate headquarters in North Liberty, IA.
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