Heartland Express Update

Still trucking...

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Prior HTLD Posts

Disclosure: Long HTLD

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Highlights

Full year 2025:

• Revenue of $806 million, down 23%

• Operating loss of $57.4 million

  • Loss of $38.4 million, excluding a $19 million non-cash charge related to CFI trade name impairment

• Full-year operating ratio of 107.1; 104.7 as adjusted

  • Sequential improvement in each quarter

• $10.4 million share repurchases

• $41.2 million debt reduction

What’s Covered Below

1. Operating performance analysis

2. Balance sheet analysis

3. Capital allocation

4. Return on capital analysis

5. Valuation