Iowa-based Heartland Express, Inc. (NASDAQ: HTLD) reported its stock prices rise Monday, on announcing financial results for the three and six months ended June 30, 2022.
The latest quarter revealed net income of $76.9 million, while basic Earnings per Share were $0.97,
Moreover, operating income registered $105.1 million. Total Assets were $1.1 billion,
Stockholders' equity was $817.9 million, on operating revenue of $187.8 million. Heartland’s cash balance of $171.9 million.
For the last six months, net income was $93.7 million, and basic Earnings per Share proved $1.19. Operating Revenue was $339.1 million, while operating income of $127.5 million,
Heartland CEO Mike Gerdin said, "Our operating results … delivered all-time company records in total assets and stockholders' equity. In addition, we completed the acquisition of Smith Transport on May 31, 2022, a well-run company built on a foundation of safe and professional drivers that further expands our family of operating brands. The operations of Smith Transport were immediately accretive to consolidated earnings in
June 2022, the first month of operations with Heartland Express.
“The second quarter was also positively impacted by the sale of a terminal property that generated a $73.2-million gain on sale of the terminal asset. We have an extensive network of terminals and are continually reviewing opportunities for the acquisition or disposition of terminals in response to the real estate market and operational needs.”
HTLD shares picked up 28 cents, or 1.9%, to $14.85.
