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Heartland Express, Inc., together with its subsidiaries, provides short, medium, and long-haul truckload carrier and transportation services in the United States, Mexico, and Canada. It primarily provides nationwide asset-based dry van truckload services for shippers; cross-border freight and other transportation services; and temperature-controlled truckload services. The company offers its services under the Heartland Express, Millis Transfer, Smith Transport, and CFI brand names. It primarily serves retailers, manufacturers, and parcel carriers in the consumer goods, appliances, food products, and automotive industries. The company was founded in 1978 and is headquartered in North Liberty, Iowa.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $806M | $103M | $-52M | $-67M | -6.9% | -23.1% | 76.5% |
| 2024 | $1.0B | $162M | $-30M | $35M | -3.6% | -13.2% | -301.2% |
| 2023 | $1.2B | $243M | $15M | $-43M | 1.7% | 24.7% | -88.9% |
| 2022 | $968M | $323M | $134M | $34M | 15.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 968 | 1,207.46 | 1,047.51 | 805.71 |
| Cost Of Revenue | 767.31 | 1,062.18 | 937.35 | 738.16 |
| Gross Profit | 200.69 | 145.28 | 110.16 | 67.54 |
| Operating Expense | 109.24 | 143.98 | 137.90 | 129.41 |
| Operating Income | 91.45 | 1.30 | -27.74 | -61.87 |
| EBITDA | 322.69 | 243.08 | 162.43 | 102.56 |
| EBIT | 189.65 | 44.04 | -19.09 | -56.64 |
| Pretax Income | 181.09 | 19.85 | -36.67 | -68.13 |
| Tax Provision | 47.51 | 5.08 | -6.95 | -15.68 |
| Net Income | 133.58 | 14.78 | -29.72 | -52.45 |
| Net Income Common Stockholders | 133.58 | 14.78 | -29.72 | -52.45 |
| Total Expenses | 876.54 | 1,206.16 | 1,075.26 | 867.58 |
| Interest Expense | 8.56 | 24.19 | 17.58 | 11.49 |
| Interest Income | 1.29 | 1.66 | 1.14 | 0.77 |
| Selling General And Administration | 41.43 | 55.79 | 60.32 | 66.45 |
| Normalized EBITDA | 225.79 | 201.99 | 154.92 | 98.10 |
| Normalized Income | 62.10 | -15.80 | -35.80 | -55.88 |
| Market Cap | 1,009.24 | 1,009.24 | 1,009.24 | 1,009.24 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Heartland Express, Inc.this co. | HTLD | - | -19.24 | 1.34 | -6.9% | 11.23 |
| The Eastern Company | EML | $134M | 22.70 | 1.08 | 5.7% | 9.14 |
| DMC Global Inc. | BOOM | $129M | - | 0.53 | -4.2% | 9.35 |
| Byrna Technologies Inc. | BYRN | $128M | 15.72 | 1.93 | 14.7% | 9.07 |
| JELD-WEN Holding, Inc. | JELD | $123M | - |
| 1.33 |
| -673.6% |
| 29.19 |
| Forrester Research, Inc. | FORR | $121M | - | 0.95 | -94.3% | 3.10 |
| Arq, Inc. | ARQ | $96M | - | 0.57 | -31.3% | 34.71 |
| Mobile Infrastructure Corporation | BEEP | $80M | - | 0.55 | -13.5% | 26.61 |
| Southland Holdings, Inc. | SLND | $60M | - | -0.42 | 231.3% | -1.74 |
| Peer Median | - | 19.21 | 0.76 | -8.8% | 9.25 | |