Heartland Express, Inc. Reports Fourth Quarter and Annual Financial Results
Heartland Express (NASDAQ: HTLD) reported its Q4 and full-year 2024 financial results. Q4 showed operating revenue of $242.6 million with an operating income of $1.0 million, resulting in a net loss of $1.9 million ($0.02 per share). The company's operating ratio improved to 99.6%.
For the full year 2024, operating revenue reached $1.0 billion, with an operating loss of $20.2 million and a net loss of $29.7 million ($0.38 per share). The company made significant progress in debt reduction, paying down $100.3 million in 2024, with total debt payments of $295.9 million since its 2022 acquisitions.
Notable improvements were seen in operating ratios across divisions, with Legacy operations improving 360 basis points to 96.3% and Recent Acquisitions improving 710 basis points to 102.6% from Q1 to Q4 2024. The company maintained strong cash flows with a 15.6% operating cash flow margin in Q4.
Heartland Express (NASDAQ: HTLD) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024. Nel quarto trimestre, i ricavi operativi sono stati di $242,6 milioni con un reddito operativo di $1,0 milione, portando a una perdita netta di $1,9 milioni ($0,02 per azione). Il rapporto operativo dell'azienda è migliorato al 99,6%.
Per l'intero anno 2024, i ricavi operativi hanno raggiunto $1,0 miliardo, con una perdita operativa di $20,2 milioni e una perdita netta di $29,7 milioni ($0,38 per azione). L'azienda ha fatto notevoli progressi nella riduzione del debito, pagando $100,3 milioni nel 2024, con pagamenti totali del debito di $295,9 milioni dal 2022.
Notevoli miglioramenti sono stati osservati nei rapporti operativi tra le divisioni, con le operazioni Legacy che migliorano di 360 punti base al 96,3% e le Recent Acquisitions che migliorano di 710 punti base al 102,6% dal primo al quarto trimestre del 2024. L'azienda ha mantenuto flussi di cassa solidi con un margine di flusso di cassa operativo del 15,6% nel quarto trimestre.
Heartland Express (NASDAQ: HTLD) informó sobre sus resultados financieros del cuarto trimestre y del año completo 2024. El cuarto trimestre mostró ingresos operativos de $242.6 millones con un ingreso operativo de $1.0 millones, resultando en una pérdida neta de $1.9 millones ($0.02 por acción). La relación operativa de la compañía mejoró al 99.6%.
Para el año completo 2024, los ingresos operativos alcanzaron $1.0 mil millones, con una pérdida operativa de $20.2 millones y una pérdida neta de $29.7 millones ($0.38 por acción). La compañía logró un progreso significativo en la reducción de deuda, pagando $100.3 millones en 2024, con pagos totales de deuda de $295.9 millones desde sus adquisiciones en 2022.
Se observaron mejoras notables en las relaciones operativas a través de las divisiones, con las operaciones Legacy mejorando 360 puntos básicos al 96.3% y las Recent Acquisitions mejorando 710 puntos básicos al 102.6% desde el primer al cuarto trimestre de 2024. La compañía mantuvo flujos de caja sólidos con un margen de flujo de caja operativo del 15.6% en el cuarto trimestre.
Heartland Express (NASDAQ: HTLD)는 2024년 4분기 및 연간 재무 결과를 발표했습니다. 4분기 운영 수익은 2억 4천260만 달러였고 운영 소득은 100만 달러로, 결과적으로 190만 달러의 순손실(주당 0.02달러)을 보고했습니다. 회사의 운영 비율은 99.6%로 개선되었습니다.
2024년 연간 운영 수익은 10억 달러에 도달했으며 운영 손실은 2천20만 달러, 순손실은 2천970만 달러(주당 0.38달러)였습니다. 회사는 부채 감소에 상당한 진전을 이루어 2024년에 1억 3백만 달러를 상환했으며, 2022년 인수 이후 총 부채 상환액은 2억 9천590만 달러에 달합니다.
부서별 운영 비율에서도 유의미한 개선이 있었고, Legacy 운영은 360 기준 포인트 개선되어 96.3%에 이르렀으며, Recent Acquisitions는 710 기준 포인트 개선되어 102.6%로 상승했습니다. 회사는 4분기 운영 현금 흐름 마진이 15.6%로 견고한 현금 흐름을 유지했습니다.
Heartland Express (NASDAQ: HTLD) a publié ses résultats financiers pour le quatrième trimestre et l'année complète 2024. Le quatrième trimestre a affiché des revenus d'exploitation de 242,6 millions de dollars avec un résultat d'exploitation d'1 million de dollars, ce qui a entraîné une perte nette de 1,9 million de dollars (0,02 dollar par action). Le ratio opérationnel de l'entreprise s'est amélioré à 99,6%.
Pour l'année complète 2024, les revenus d'exploitation ont atteint 1,0 milliard de dollars, avec une perte d'exploitation de 20,2 millions de dollars et une perte nette de 29,7 millions de dollars (0,38 dollar par action). L'entreprise a réalisé des progrès significatifs dans la réduction de la dette, remboursant 100,3 millions de dollars en 2024, avec des paiements totaux de dette de 295,9 millions de dollars depuis ses acquisitions de 2022.
Des améliorations notables ont été observées dans les ratios opérationnels à travers les divisions, les opérations Legacy ayant amélioré de 360 points de base à 96,3% et les Recent Acquisitions ayant amélioré de 710 points de base à 102,6% entre le T1 et le T4 2024. L'entreprise a maintenu des flux de trésorerie solides avec une marge de flux de trésorerie opérationnel de 15,6% au quatrième trimestre.
Heartland Express (NASDAQ: HTLD) hat seine Finanzzahlen für das 4. Quartal und das Gesamtjahr 2024 veröffentlicht. Im 4. Quartal betrugen die Betriebseinnahmen 242,6 Millionen Dollar, mit einem Betriebsergebnis von 1,0 Millionen Dollar, was zu einem Nettoverlust von 1,9 Millionen Dollar (0,02 Dollar pro Aktie) führte. Die Betriebskostenquote des Unternehmens verbesserte sich auf 99,6%.
Für das gesamte Jahr 2024 erreichten die Betriebseinnahmen 1,0 Milliarden Dollar, mit einem Betriebsverlust von 20,2 Millionen Dollar und einem Nettoverlust von 29,7 Millionen Dollar (0,38 Dollar pro Aktie). Das Unternehmen erzielte erhebliche Fortschritte bei der Schuldentilgung und zahlte 100,3 Millionen Dollar im Jahr 2024 zurück, mit insgesamt 295,9 Millionen Dollar an Schuldenrückzahlungen seit seinen Übernahmen im Jahr 2022.
Bemerkenswerte Verbesserungen wurden in den Betriebskostenquoten der verschiedenen Abteilungen festgestellt, wobei die Legacy-Operationen um 360 Basispunkte auf 96,3% und die Recent Acquisitions um 710 Basispunkte auf 102,6% von Q1 bis Q4 2024 verbesserten. Das Unternehmen hielt starke Cashflows mit einer Betriebsmarge von 15,6% im 4. Quartal aufrecht.
- Operating ratio improved by 570 basis points from Q1 to Q4 2024
- Significant debt reduction of $100.3 million in 2024
- Strong operating cash flow margin of 15.6% in Q4
- Maintained $88.3 million in available credit line capacity
- Q4 2024 net loss of $1.9 million ($0.02 per share)
- Full-year 2024 net loss of $29.7 million ($0.38 per share)
- Operating revenue declined 13.2% year-over-year
- Operating ratio remains above 99%, significantly higher than historical performance
Insights
The Q4 2024 results paint a complex picture of Heartland Express's current position and recovery trajectory. While the
Operational Improvements:
- Legacy operations showed 360 basis points improvement in operating ratio to
96.3% - Recent acquisitions (CFI and Smith Transport) demonstrated significant 710 basis points improvement to
102.6% - Strong cash flow generation with
15.6% operating cash flow margin in Q4
Financial Health:
- Substantial debt reduction of
$295.9M since 2022 acquisitions - Maintained
$88.3M available credit facility - Continued dividend payments despite challenging environment
Strategic Position: The company's young fleet age (2.5 years for tractors) and strong customer relationships (evidenced by multiple carrier awards) position it well for the anticipated market recovery. The sequential improvement across all segments, coupled with management's indication of positive rate negotiations, suggests the worst of the freight market downturn may be behind us.
The freight market dynamics revealed in Heartland's results provide important insights into both industry conditions and the company's competitive positioning. The sequential improvement in operating metrics, particularly in Q4, aligns with early signs of market stabilization.
Market Position Strength:
- Impressive customer recognition from major players like Home Depot, FedEx and DHL indicates strong market position despite operational challenges
- Young fleet age of 2.5 years for tractors provides operational advantages and positions the company for immediate uptake when market conditions improve
- Environmental recognition (SmartWay High Performer) adds value in an increasingly ESG-conscious market
Forward Indicators: Management's comments about positive shifts in customer rate negotiations suggest early signs of pricing power recovery. The company's focus on cost improvements and system integrations, combined with maintained service excellence, creates a strong foundation for margin expansion when market conditions normalize.
NORTH LIBERTY, Iowa, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the quarter and year ended December 31, 2024.
Three months ended December 31, 2024:
- Operating Revenue of
$242.6 million , - Operating Income of
$1.0 million , - Net Loss of
$1.9 million and Basic Loss per Share of$0.02 , - Operating Ratio of
99.6% and98.9% Non-GAAP Adjusted Operating Ratio(1), - Total Assets of
$1.3 billion , - Stockholders' Equity of
$822.6 million .
Twelve months ended December 31, 2024:
- Operating Revenue of
$1.0 billion , - Operating Loss of
$20.2 million , - Net Loss of
$29.7 million , Basic Loss per Share of$0.38 , - Operating Ratio of
101.9% and101.7% Non-GAAP Adjusted Operating Ratio(1), $100.3 million paid for debt reductions in 2024 ($295.9 million paid since acquisitions in 2022).
Heartland Express Chief Executive Officer, Mike Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, "Our consolidated operating results for the fourth quarter reflected both sequential and year-over year operating improvement due to a combination of continued progress with acquisition integration, enterprise-wide cost controls, and a modestly better freight environment. While it is early in the quarter and extreme winter weather conditions so far in 2025 make comparison difficult, we are seeing a positive shift in customer rate and volume negotiations that we expect to strengthen as the year unfolds. Additionally, we generated a
Mr. Gerdin continued: "Our financial goals continue to be (i) generate an operating ratio in the low to mid 80s, (ii) grow revenue profitably, organically and through acquisitions, and (iii) carry a debt-free balance sheet. Throughout our history, these principles have allowed us to generate significant cash flows and be opportunistic with acquiring and disposing of equipment and facilities, making acquisitions, and returning capital to stockholders. In 2022, we incurred substantial debt to acquire CFI and Smith Transport and have been integrating and improving those businesses in the teeth of a deep and lengthy freight market downturn. During 2024, we made progress in the operating ratios of our businesses, as reflected in the following table:
| Brand | Q1 2024 | Q4 2024 | Improvement |
| Legacy: Heartland Express and Millis Transfer | 360 basis points | ||
| Recent Acquisitions: CFI and Smith Transport | 710 basis points | ||
| Consolidated | 570 basis points |
The improvement in our consolidated operating ratio between the first quarter of 2024 and the fourth quarter of 2024 was substantially similar to the improvement between the fourth quarter of 2023 and the fourth quarter of 2024 (excluding the impact of an aggregate gain of
Mr. Gerdin continued, "In addition to margin progress, we are making strides toward our goal to be debt free. Even in this challenging and prolonged negative operating environment, we continued to generate positive operating cash flows. Since making the acquisitions in 2022, we have repaid almost
Financial Results
Heartland Express ended the fourth quarter of 2024 with operating revenues of
For the twelve-month period ended December 31, 2024, operating revenues were
Balance Sheet and Liquidity
At December 31, 2024, the Company had
Net cash flows from operations for the twelve-month period ended December 31, 2024 were
The average age of the Company's tractor fleet was 2.5 years as of December 31, 2024, compared to 2.2 years at December 31, 2023. The average age of the Company's trailer fleet was 7.4 years at December 31, 2024 compared to 6.4 years at December 31, 2023.
The Company continued its commitment to shareholders through the payment of cash dividends. Regular dividends of
Other Information
Historical commitment to customer service has allowed us to build solid, long-term relationships and brand ourselves as an industry leader for on-time service. This past year we once again were recognized for customer service by our customers. These awards received include:
- Home Depot Truckload Carrier of the Year (Medium Fleet)
- Home Depot Truckload Carrier of the Year (Small Fleet)
- NFI US East Carrier of the Year
- DHL Truckload Carrier of the Year
- Uber Freight Award National Truckload Carrier of the Year
- WEX Circle of Excellence
- Henkel Consumer Brands Logistics Award - Asset Excellence
- FedEx Express National Carrier of the Year (13 years in a row)
- FedEx Express Platinum Award (
99.98% On-Time Delivery) - Shaw Floors Outbound "Class B" Carrier of the Year
- J.M. Smucker Transportation Award Best On Time National Asset Carrier
During 2024, we were also recognized with the following environmental, operational, industry, and community service awards:
- SmartWay - High Performer TL/Dry Van Truck Carrier "All Metrics" Category
- TCA Fleet Safety Award 2023 - 2nd Place (Division VI, 100+ Million Miles)
- Missouri Trucking Association - Safety Award (Over the Road, 15+ Million Miles)
- Newsweek's 2024 Most Trustworthy Companies
These awards are hard-earned and are a direct reflection upon our outstanding group of employees and our focus on excellence in all areas of our business.
Operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio are non-GAAP financial measures and are not intended to replace financial measures calculated in accordance with GAAP. These non-GAAP financial measures supplement our GAAP results. We believe that using these measures affords a more consistent basis for comparing our results of operations from period to period. The information required by Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934, including a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP, is included in the table at the end of this press release.
This press release may contain statements that might be considered as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as “seek,” “expects,” “estimates,” “anticipates,” “projects,” “believes,” “hopes,” “plans,” “goals,” “intends,” “may,” “might,” “likely,” “will,” “should,” “would,” “could,” “potential,” “predict,” “continue,” “strategy,” “future,” “ensure,” “outlook,” and similar terms and phrases. In this press release, the statements relating to freight supply and demand, our ability to react to and capitalize on changing market conditions, the expected impact of operational improvements, strategic changes, enhanced scale, and cost reductions, progress toward our goals, future dispositions of revenue equipment and real estate and gains therefrom, future operating ratio, future stock repurchases, dividends, acquisitions, and debt repayment, and results of the foregoing are forward-looking statements. Such statements are based on management's belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties, and undue reliance should not be placed on such statements. Actual events may differ materially from those set forth in, contemplated by, or underlying such statements as a result of numerous factors, including, without limitation, those specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. The Company assumes no obligation to update any forward-looking statements, which speak as of their respective dates.
| Contact: Heartland Express, Inc. (319-645-7060) Mike Gerdin, Chief Executive Officer Chris Strain, Chief Financial Officer |
| HEARTLAND EXPRESS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts) (unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| OPERATING REVENUE | $ | 242,576 | $ | 275,347 | $ | 1,047,511 | $ | 1,207,458 | ||||||||
| OPERATING EXPENSES: | ||||||||||||||||
| Salaries, wages, and benefits | $ | 97,543 | $ | 112,237 | $ | 427,748 | $ | 474,803 | ||||||||
| Rent and purchased transportation | 16,163 | 24,464 | 80,056 | 112,749 | ||||||||||||
| Fuel | 39,107 | 49,023 | 177,232 | 212,228 | ||||||||||||
| Operations and maintenance | 18,459 | 15,688 | 70,793 | 63,358 | ||||||||||||
| Operating taxes and licenses | 4,833 | 5,404 | 20,414 | 21,804 | ||||||||||||
| Insurance and claims | 11,971 | 14,512 | 50,869 | 45,278 | ||||||||||||
| Communications and utilities | 1,972 | 2,458 | 9,447 | 10,508 | ||||||||||||
| Depreciation and amortization | 43,927 | 51,120 | 181,523 | 199,039 | ||||||||||||
| Other operating expenses | 13,576 | 14,950 | 57,173 | 66,393 | ||||||||||||
| Gain on disposal of property and equipment | (5,997 | ) | (25,214 | ) | (7,508 | ) | (41,087 | ) | ||||||||
| 241,554 | 264,642 | 1,067,747 | 1,165,073 | |||||||||||||
| Operating income (loss) | 1,022 | 10,705 | (20,236 | ) | 42,385 | |||||||||||
| Interest income | 232 | 304 | 1,143 | 1,655 | ||||||||||||
| Interest expense | (3,464 | ) | (5,934 | ) | (17,582 | ) | (24,187 | ) | ||||||||
| (Loss) income before income taxes | (2,210 | ) | 5,075 | (36,675 | ) | 19,853 | ||||||||||
| Federal and state income taxes | (356 | ) | (20 | ) | (6,953 | ) | 5,078 | |||||||||
| Net (loss) income | $ | (1,854 | ) | $ | 5,095 | $ | (29,722 | ) | $ | 14,775 | ||||||
| (Loss) earnings per share | ||||||||||||||||
| Basic | $ | (0.02 | ) | $ | 0.06 | $ | (0.38 | ) | $ | 0.19 | ||||||
| Diluted | $ | (0.02 | ) | $ | 0.06 | $ | (0.38 | ) | $ | 0.19 | ||||||
| Weighted average shares outstanding | ||||||||||||||||
| Basic | 78,497 | 79,030 | 78,733 | 79,010 | ||||||||||||
| Diluted | 78,507 | 79,110 | 78,775 | 79,079 | ||||||||||||
| Dividends declared per share | $ | 0.02 | $ | 0.02 | $ | 0.08 | $ | 0.08 | ||||||||
| HEARTLAND EXPRESS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (unaudited) | ||||||||
| December 31, | December 31, | |||||||
| ASSETS | 2024 | 2023 | ||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 12,812 | $ | 28,123 | ||||
| Trade receivables, net | 91,620 | 102,740 | ||||||
| Prepaid tires | 10,428 | 10,650 | ||||||
| Other current assets | 12,554 | 17,602 | ||||||
| Income tax receivable | 2,034 | 10,157 | ||||||
| Total current assets | 129,448 | 169,272 | ||||||
| PROPERTY AND EQUIPMENT | 1,283,980 | 1,319,909 | ||||||
| Less accumulated depreciation | 519,573 | 434,558 | ||||||
| 764,407 | 885,351 | |||||||
| GOODWILL | 322,597 | 322,597 | ||||||
| OTHER INTANGIBLES, NET | 93,520 | 98,537 | ||||||
| OTHER ASSETS | 15,408 | 14,953 | ||||||
| DEFERRED INCOME TAXES, NET | 946 | 1,494 | ||||||
| OPERATING LEASE RIGHT OF USE ASSETS | 7,866 | 17,442 | ||||||
| $ | 1,334,192 | $ | 1,509,646 | |||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts payable and accrued liabilities | $ | 35,370 | $ | 37,777 | ||||
| Compensation and benefits | 27,003 | 28,492 | ||||||
| Insurance accruals | 23,518 | 21,507 | ||||||
| Long-term debt and finance lease liabilities - current portion | 9,041 | 9,303 | ||||||
| Operating lease liabilities - current portion | 6,115 | 9,259 | ||||||
| Other accruals | 18,512 | 17,138 | ||||||
| Total current liabilities | 119,559 | 123,476 | ||||||
| LONG-TERM LIABILITIES | ||||||||
| Income taxes payable | 6,226 | 6,270 | ||||||
| Long-term debt and finance lease liabilities less current portion | 191,707 | 290,696 | ||||||
| Operating lease liabilities less current portion | 1,751 | 8,183 | ||||||
| Deferred income taxes, net | 158,374 | 189,121 | ||||||
| Insurance accruals less current portion | 33,976 | 26,640 | ||||||
| Total long-term liabilities | 392,034 | 520,910 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| STOCKHOLDERS' EQUITY | ||||||||
| Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2024 and 2023; outstanding 78,519 and 79,039 in 2024 and 2023, respectively | $ | 907 | $ | 907 | ||||
| Additional paid-in capital | 3,175 | 4,527 | ||||||
| Retained earnings | 1,024,081 | 1,060,094 | ||||||
| Treasury stock, at cost; 12,170 and 11,650 shares in 2024 and 2023, respectively | (205,564 | ) | (200,268 | ) | ||||
| 822,599 | 865,260 | |||||||
| $ | 1,334,192 | $ | 1,509,646 | |||||
(1)
| GAAP to Non-GAAP Reconciliation Schedule: | ||||||||||||||||
| Operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio reconciliation (a) | ||||||||||||||||
| Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (Unaudited, in thousands) | (Unaudited, in thousands) | |||||||||||||||
| Operating revenue | $ | 242,576 | $ | 275,347 | $ | 1,047,511 | $ | 1,207,458 | ||||||||
| Less: Fuel surcharge revenue | 28,001 | 39,740 | 133,860 | 173,817 | ||||||||||||
| Operating revenue, excluding fuel surcharge revenue | 214,575 | 235,607 | 913,651 | 1,033,641 | ||||||||||||
| Operating expenses | 241,554 | 264,642 | 1,067,747 | 1,165,073 | ||||||||||||
| Less: Fuel surcharge revenue | 28,001 | 39,740 | 133,860 | 173,817 | ||||||||||||
| Less: Amortization of intangibles | 1,254 | 1,262 | 5,017 | 5,164 | ||||||||||||
| Adjusted operating expenses | 212,299 | 223,640 | 928,870 | 986,092 | ||||||||||||
| Operating income | 1,022 | 10,705 | (20,236 | ) | 42,385 | |||||||||||
| Adjusted operating income | $ | 2,276 | $ | 11,967 | $ | (15,219 | ) | $ | 47,549 | |||||||
| Operating ratio | 99.6 | % | 96.1 | % | 101.9 | % | 96.5 | % | ||||||||
| Adjusted operating ratio | 98.9 | % | 94.9 | % | 101.7 | % | 95.4 | % | ||||||||
(a) Operating revenue excluding fuel surcharge revenue, as reported in this press release is based upon operating revenue minus fuel surcharge revenue. Adjusted operating income as reported in this press release is based upon operating revenue excluding fuel surcharge revenue, less operating expenses, net of fuel surcharge revenue, and non-cash amortization expense related to intangible assets. Adjusted operating ratio as reported in this press release is based upon operating expenses, net of fuel surcharge revenue, and amortization of intangibles, as a percentage of operating revenue excluding fuel surcharge revenue. We believe that operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio are more representative of our underlying operations by excluding the volatility of fuel prices, which we cannot control, and removes items resulting from acquisitions or one-time transactions that do not reflect our core operating performance. Operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio are not substitutes for operating revenue, operating income, or operating ratio measured in accordance with GAAP. There are limitations to using non-GAAP financial measures. Although we believe that operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio improve comparability in analyzing our period-to-period performance, they could limit comparability to other companies in our industry if those companies define such measures differently. Because of these limitations, operating revenue excluding fuel surcharge revenue, adjusted operating income, and adjusted operating ratio should not be considered measures of income generated by our business or discretionary cash available to us to invest in the growth of our business. Management compensates for these limitations by primarily relying on GAAP results and using non-GAAP financial measures on a supplemental basis.
FAQ
What were Heartland Express (HTLD) Q4 2024 earnings results?
How much debt did HTLD pay down in 2024?
What was HTLD's operating ratio improvement in Q4 2024?
How much cash and available credit did HTLD have at the end of 2024?
What was HTLD's operating cash flow margin in Q4 2024?
