Heartland’s Income Drops but Revenue, Fleet Size Increase
Heartland Express said its second-quarter profit fell 19% from a year ago, but its revenue and fleet size both rose.
Net income fell to $18.2 million, or 21 cents per share, from $22.5 million, or 25 cents, a year ago.
Revenue rose 1.8% to $139.7 million, the truckload carrier said Thursday.
Heartland said it was continuing to upgrade its trailer fleet and that it took delivery of 442 trailers in the quarter. It will take delivery of 1,000 new Wabash trailers this year as it sells older models.
By the end of the third quarter of 2012, its entire trailer fleet will be 2007 models or newer, Heartland said.
Heartland Express is ranked No. 47 on the Transport Topics 100 listing of U.S. and Canadian for-hire trucking companies.
