Heartland has healthy 1Q

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
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 previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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