$HTLD

HEARTLAND EXPRESS INC

CIK:0000799233|SEC Filings

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Operating Revenue	$ 184,126	$ 210,387	$ 360,383	$ 429,807
Operating Expenses
Salaries, wages, and benefits	69,135	87,159	138,230	180,396
Rent and purchased transportation	10,791	13,343	21,256	27,617
Fuel	40,549	33,709	73,286	71,627
Operations and maintenance	12,784	17,439	24,649	34,718
Operating taxes and licenses	3,765	4,422	7,717	9,163
Insurance and claims	11,783	14,154	24,562	26,076
Communications and utilities	1,977	2,206	3,574	4,471
Depreciation and amortization	32,306	41,463	67,463	83,091
Other operating expenses	9,537	11,693	18,759	24,531
Gain on disposal of property and equipment	(25,050)	(2,782)	(32,367)	(4,566)
Total operating expenses	167,577	222,806	347,129	457,124
Operating income (loss)	16,549	(12,419)	13,254	(27,317)
Interest income	370	198	578	326
Interest expense	(1,878)	(2,962)	(4,088)	(6,066)
Income (loss) before income taxes	15,041	(15,183)	9,744	(33,057)
Federal and state income tax (benefit)	4,458	(4,328)	3,982	(8,329)
Net income (loss)	10,583	(10,855)	5,762	(24,728)
Other comprehensive income, net of tax	0	0	0	0
Comprehensive income (loss)	$ 10,583	$ (10,855)	$ 5,762	$ (24,728)
Net income (loss) per share
Basic	$ 0.14	$ (0.14)	$ 0.07	$ (0.32)
Diluted	$ 0.14	$ (0.14)	$ 0.07	$ (0.32)
Weighted average shares outstanding
Basic	77,404	78,079	77,430	78,308
Diluted	77,437	78,142	77,463	78,375
Dividends declared per share	$ 0.02	$ 0.02	$ 0.04	$ 0.04

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income (loss)	$ 5,762	$ (24,728)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	67,463	83,091
Deferred income taxes	(11,037)	(13,881)
Stock-based compensation expense	905	1,132
Debt-related amortization	0	175
Gain on disposal of property and equipment	(32,367)	(4,566)
Changes in certain working capital items:
Trade receivables	(2,486)	5,926
Prepaid expenses and other current assets	(15,689)	(3,023)
Accounts payable, accrued liabilities, and accrued expenses	10,982	3,963
Accrued income taxes	12,493	(1,247)
Net cash provided by operating activities	36,026	46,842
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	104,631	39,864
Purchases of property and equipment	(65,452)	(57,350)
Change in other assets	(298)	168
Net cash provided by (used in) investing activities	38,881	(17,318)
FINANCING ACTIVITIES
Payments of cash dividends	(3,100)	(3,142)
Shares withheld for employee taxes related to stock-based compensation	(269)	(211)
Repayments of finance leases and debt	(24,883)	(6,949)
Repurchase of Common Stock	(2,343)	(8,931)
Net cash used in financing activities	(30,595)	(19,233)
Net increase in cash, cash equivalents and restricted cash	44,312	10,291
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	31,445	26,284
End of period	75,757	36,575
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest expense	4,403	6,088
Cash paid during the period for income taxes, net of refunds	2,481	6,798
Noncash investing and financing activities:
Purchased property and equipment in accounts payable	9,458	20,166
Sold revenue equipment and property in other current assets	2,339	0
Common stock dividends declared in accounts payable	1,547	1,552
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents	62,385	22,879
Restricted cash included in other current assets	233	251
Restricted cash included in other assets	13,139	13,445
Total cash, cash equivalents and restricted cash	$ 75,757	$ 36,575

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 62,385	$ 18,475
Trade receivables, net of $1.2 and $1.5 million allowance in 2026 and 2025, respectively	76,658	74,172
Prepaid tires	11,055	11,626
Other current assets	35,696	9,181
Income tax receivable	0	1,146
Total current assets	185,794	114,600
PROPERTY AND EQUIPMENT
Land and land improvements	100,267	119,821
Buildings	153,012	171,513
Furniture and fixtures	6,630	6,679
Shop and service equipment	20,198	20,353
Revenue equipment	720,492	828,987
Construction in progress	2,582	1,340
Property and equipment, gross	1,003,181	1,148,693
Less accumulated depreciation	432,010	481,471
Property and equipment, net	571,171	667,222
Goodwill	322,597	322,597
OTHER INTANGIBLES, NET	67,003	69,512
OTHER ASSETS	15,402	14,686
Deferred Income Taxes, Net	1,311	1,353
OPERATING LEASE RIGHT OF USE ASSETS	11,513	1,647
Assets	1,174,791	1,191,617
CURRENT LIABILITIES
Accounts payable and accrued liabilities	34,253	33,479
Compensation and benefits	25,387	25,061
Insurance accruals	28,761	31,437
Long-term debt and finance lease liabilities - current portion	0	5,714
Operating lease liabilities - current portion	3,202	1,330
Other accruals	14,691	13,143
Taxes Payable	10,935	0
Total current liabilities	117,229	110,164
LONG-TERM LIABILITIES
Income taxes payable	5,839	5,427
Long-term debt and finance lease liabilities less current portion	134,890	154,059
Operating lease liabilities less current portion	8,311	317
Deferred income taxes, net	122,550	133,629
Insurance accruals	29,695	32,702
Total long-term liabilities	301,285	326,134
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS' EQUITY
Preferred stock, par value $.01; authorized 5,000 shares; none issued	0	0
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2026 and 2025; outstanding 77,328 and 77,445 in 2026 and 2025, respectively	907	907
Additional paid-in capital	2,588	2,979
Retained earnings	968,070	965,405
Treasury stock, at cost; 13,361 and 13,244 shares in 2026 and 2025, respectively	(215,288)	(213,972)
Stockholders' Equity	756,277	755,319
Liabilities and Stockholders' Equity	$ 1,174,791	$ 1,191,617