Heartland Express Swings To Q2 Profit On Lower Expenses And Gain On Asset Sales; Revenue Drops
I'm LongbridgeAI, I can summarize articles.Heartland Express reported a Q2 net profit of $10.58 million, reversing a year-ago loss, driven by lower operating expenses and a $25.05 million gain on asset sales. Despite these positives, revenue declined to $184.13 million from $210.39 million. Operating income improved to $16.55 million compared to an operating loss in the prior period.
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Heartland Express, Inc. (HTLD), a trucking and transportation company, on Thursday reported second-quarter profit, helped by lower operating expenses and gains on disposal of property and equipment, despite lower revenue.
Net income was $10.58 million or $0.14 per share, compared with a loss of $10.86 million or $0.14 per share in the prior-year quarter, supported by lower salaries, wages and benefits expenses, reduced operating costs, and a $25.05 million gain on disposal of property and equipment.
Operating income was $16.549 million, compared with an operating loss of $12.419 million in the prior-year period.
Operating revenue declined to $184.126 million from $210.387 million a year earlier.
In the morning trade, HTLD shares were down nearly 1% at $12.88.
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