Heartland Express increases revenues and profits

Jan. 14, 2002
Heartland Express, a truckload carrier based in Coralville, IA, said its 2001 fourth-quarter net income jumped nearly 25%, boosting its income for all of 2001 by nearly 10%. For the fourth quarter of 2001, Heartland said its revenue increased 4.6% to $73.5 million from $70.3 million in the same quarter in 2000. Net income increased 24.8% to $9.9 million from $7.9 million in the same period in 2000.
Heartland Express, a truckload carrier based in Coralville, IA, said its 2001 fourth-quarter net income jumped nearly 25%, boosting its income for all of 2001 by nearly 10%.

For the fourth quarter of 2001, Heartland said its revenue increased 4.6% to $73.5 million from $70.3 million in the same quarter in 2000. Net income increased 24.8% to $9.9 million from $7.9 million in the same period in 2000.

For the year, Heartland said revenues increased 7.2% to $294.6 million from $274.8 million in 2000. Net income climbed 9.8% to $37.7 million, up from $34.3 million in the 2000.

Heartland added that its operating ratio reached 80.9% for the quarter and 82.1% for 2001 overall. The carrier said it ended the year with no debt and $161 million in cash and short-term investments as compared to $128 million at the end of 2000.

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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