<span item_type="fundamental" item_id="396b7ed794abe82d99520f8405450b88" counter_id="ST/US/HTLD" env="prod"></span><span item_type="announcement" item_id="614296122348670849" env="prod"></span><p>Revenue: As of FY2025 Q4, the actual value is USD 179.36 M, missing the estimate of USD 194.54 M.</p><p>EPS: As of FY2025 Q4, the actual value is USD -0.25, missing the estimate of USD -0.0889.</p><p>EBIT: As of FY2025 Q4, the actual value is USD -20.54 M.</p><p></p><h4>Operating Revenue</h4><p>For the three months ended December 31, 2025, Heartland Express, Inc. reported Operating Revenue of $179.4 million, a decrease from $242.6 million in the fourth quarter of 2024. Operating revenue excluding fuel surcharge revenue was $157.7 million for the three months ended December 31, 2025, compared to $214.6 million in the same period of 2024. Fuel surcharge revenues were $21.7 million, down from $28.0 million in the fourth quarter of 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>For the twelve months ended December 31, 2025, Operating Revenue was $805.7 million, representing a 23.1% decrease from $1.0 billion in the same period of 2024. Operating revenue excluding fuel surcharge revenue was $709.1 million for the twelve months ended December 31, 2025, compared to $913.7 million in the same period of 2024. Fuel surcharge revenues decreased by $37.3 million to $96.6 million from $133.9 million in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Net Loss</h4><p>Heartland Express, Inc. reported a Net Loss of - $19.4 million for the three months ended December 31, 2025, compared to a net loss of - $1.9 million in the fourth quarter of 2024. Basic Loss per Share was - $0.25, compared to - $0.02 in the fourth quarter of 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>For the twelve months ended December 31, 2025, Net Loss was - $52.5 million, compared to a net loss of - $29.7 million in 2024. Basic Loss per Share was - $0.67, compared to - $0.38 in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Operating Profit/Loss</h4><p>Operating Loss for the three months ended December 31, 2025, was - $22.8 million, compared to an operating income of $1.0 million in the fourth quarter of 2024. Adjusted operating loss was - $2.6 million for the three months ended December 31, 2025, compared to an adjusted operating income of $2.3 million in the fourth quarter of 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>Operating Loss for the twelve months ended December 31, 2025, was - $57.4 million, compared to an operating loss of - $20.2 million in 2024. Adjusted operating loss was - $33.4 million for the twelve months ended December 31, 2025, compared to an adjusted operating loss of - $15.2 million in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Operating Ratio</h4><p>The Operating Ratio for the three months ended December 31, 2025, was 112.7%, which included a non-cash trade name impairment of $19.0 million. The Non-GAAP Adjusted Operating Ratio was 101.6%. These figures compare to 99.6% and 98.9%, respectively, in the fourth quarter of 2024. Quarterly operating ratios throughout 2025 were 106.8% (107.1% adjusted) in Q1, 105.9% (106.0% adjusted) in Q2, 103.7% (103.5% adjusted) in Q3, and 112.7% (101.6% adjusted) in Q4 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>For the twelve months ended December 31, 2025, the Operating Ratio was 107.1%, and the Non-GAAP Adjusted Operating Ratio was 104.7%. This compares to 101.9% and 101.7%, respectively, in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Operating Costs</h4><p>Total Operating Expenses for the three months ended December 31, 2025, were $202.2 million, compared to $241.6 million in the same period of 2024. Key components included salaries, wages, and benefits of $71.5 million, fuel costs of $29.5 million, depreciation and amortization of $37.4 million, and a trade name impairment of $19.0 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>Total Operating Expenses for the twelve months ended December 31, 2025, were $863.1 million, compared to $1,067.7 million in 2024. Key components included salaries, wages, and benefits of $329.2 million, fuel costs of $135.2 million, depreciation and amortization of $159.2 million, and a trade name impairment of $19.0 million. The company also recognized a gain on disposal of property and equipment of - $23.4 million in 2025, compared to - $7.5 million in 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Cash Flow</h4><p>Operating Cash Flows as a percentage of Operating Revenue was 8.3% for the three months ended December 31, 2025, and 11.1% for the twelve months ended December 31, 2025. Net cash flows from operations for the twelve-month period ended December 31, 2025, were $89.3 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>Primary uses of cash for financing activities in 2025 included $41.2 million for debt and financing lease repayments, $10.4 million for common stock repurchases, and $6.2 million for regular dividends. The primary use of cash for investing activities was - $26.3 million for net property and equipment transactions <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Balance Sheet &amp; Liquidity</h4><p>As of December 31, 2025, Heartland Express, Inc. had cash balances of $18.5 million, an increase of $5.7 million since December 31, 2024. Total Assets were $1.2 billion, and Stockholders’ Equity was $755.3 million. Debt and financing lease obligations totaled $159.8 million. The company made $41.2 million in debt payments during 2025 and had $88.8 million in available borrowing capacity on its unsecured line of credit <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Other Key Metrics</h4><p>Heartland Express, Inc. paid $10.4 million to repurchase common stock during 2025, contributing to 3.6 million shares repurchased for $49.2 million over the past five years. The company has authorization to repurchase an additional 4.8 million shares. Regular dividends of $0.02 per share were declared each quarter of 2025, with cumulative cash dividends of $561.4 million paid since 2003 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><p>The average age of the company’s tractor fleet was 2.6 years as of December 31, 2025, and the average age of the trailer fleet was 7.3 years <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>. An impairment charge of $19.0 million related to the CFI trade name was recorded in the fourth quarter of 2025 due to the decision to unify CFI with Heartland Express <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p><h4>Outlook / Guidance</h4><p>Heartland Express, Inc. anticipates operational improvements throughout 2026 and beyond from investments and strategic decisions made in 2025, including the consolidation of operating fleets <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>. While meaningful improvement is not expected until later in 2026, the company aims to capitalize on potential industry and market improvements <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>. Financial goals include achieving an operating ratio in the low to mid-80s, growing revenue profitably, and returning to a debt-free balance sheet by 2027 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/799233/000079923326000004/a2025q4earningsrelease.htm"></span>.</p>

Heartland Express | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 179.36 M