Heartland Express, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 26, 2017 at 09:01 pm
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Heartland Express, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported operating revenue of $140,044,000 against $174,605,000 a year ago. Operating income was $20,898,000 against $27,719,000 a year ago. Income before income taxes was $21,071,000 against $27,772,000 a year ago. Net income was $13,114,000 against $17,015,000 a year ago. Basic and diluted earnings per share were $0.16 against $0.20 a year ago. Operating income for the three-month period decreased $6.8 million mainly due to the current operating environment challenges on freight volume and pricing. The Company posted an operating ratio of 85.1%, an adjusted operating ratio(1) of 83.3%, and a 9.4% net margin (net income as a percentage of operating revenues) in the fourth quarter of 2016 compared to 84.1%, 82.3% and 9.7%, respectively in the fourth quarter of 2015.
For the year, the company reported operating revenue of $612,937,000 against $736,345,000 a year ago. Operating income was $85,568,000 against $116,580,000 a year ago. Income before income taxes was $86,049,000 against $116,771,000 a year ago. Net income was $56,386,000 against $73,056,000 a year ago. Basic and diluted earnings per share were $0.68 against $0.84 a year ago. Operating income for the twelve-month period decreased $31.0 million mainly as a result of the continued operating environment challenges on freight volume and pricing. The Company posted an operating ratio of 86.0%, an adjusted operating ratio(1) of 84.6% and a 9.2% net margin (net income as a percentage of operating revenues) in the twelve months ended December 31, 2016 compared to 84.2%, 81.9% and 9.9%, respectively in 2015.
Heartland Express, Inc. is a holding company. The Company, together with its subsidiaries, is a short, medium and long-haul truckload carrier and transportation services provider. It primarily provides a nationwide asset-based dry van truckload service for various shippers across the United States, along with cross-border freight and other transportation services offered through third party partnerships in Mexico. The Companyâs primary customers include retailers, manufacturers and parcel carriers. Its over-the-road tractors are equipped with mobile communication systems. It operates 31 terminal facilities throughout the contiguous United States and one in Mexico. The Companyâs subsidiaries include Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc., Midwest Holding Group, LLC, Millis Transfer, LLC, Smith Transport, Inc. and others.
HEARTLAND EXPRESS, INC. 
