Heartland has healthy 1Q

Truckload carrier Heartland Express said its gross revenues increased 1.9% for the first quarter of 2002, with net income rising 6.8%. The Corallville, IA-based carrier said revenues for the quarter increased to $73.3 million, compared to $71.9 million in the first quarter of 2001. Net income jumped up to $9.5 million, compared to $8.9 million in the same quarter last year. For the quarter, Heartland

Sean Kilcarr

April 19, 2002

Truckload carrier Heartland Express said its gross revenues increased 1.9% for the first quarter of 2002, with net income rising 6.8%.

The Corallville, IA-based carrier said revenues for the quarter increased to $73.3 million, compared to $71.9 million in the first quarter of 2001. Net income jumped up to $9.5 million, compared to $8.9 million in the same quarter last year.

For the quarter, Heartland posted an operating ratio of 81.3% and a 13.0% net margin. By comparison, it reported an operating ratio of 83.1% and a net margin of 12.4% in the first quarter of 2001. The carrier also said it ended the first quarter with cash, cash equivalents, and investments of $171.4 million, a $10.3 million increase over the $161.1 million reported at the end of last year, with no debt on its balance sheet.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.