Heartland Express’ 2Q profit soars 40%

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Heartland Express announced that its second-quarter profit jumped 40.5 percent, helped by a gain of $8.7 million on the trade-in of revenue equipment. Quarterly profit was $24.8 million, versus $17.6 million during the same period last year.

For the quarter, revenue climbed 11 percent to $143.1 million, from $128.9 million last year. The Coralville, Iowa-based carrier posted an operating ratio (operating expenses as a percentage of operating revenues) of 75.2 percent and a 17.3 percent net margin.

For the six months ended June 30, net income increased 36 percent to $44.5 million from $32.7 million in the 2005 period. Operating revenues increased 12.3 percent to $278.1 from $247.5 during the same period in 2005. Heartland Express reported an operating ratio of 77.1 percent and a 16 percent net margin for the six months ended June 30.