Heartland Express, Inc. (HTLD) Income Statement
HTLD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHTLD revenue and net income
Where HTLD's revenue goes
2025Each bar shows an amount and its share of revenue. HTLD kept −6.5% of revenue as net income.
HTLD profit margins
HTLD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −23.1% | −5.9% | +4.5% | +0.9% |
| Gross profit | −38.7% | −30.4% | −14.5% | −8.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HTLD quarterly EPS vs estimates
Heartland Express beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 30, 2026 (estimate $0.02).
HTLD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $805.7M | $1.05B | $1.21B | $968.0M | $607.3M | $645.3M | $596.8M | $610.8M | $607.3M | $612.9M |
| Cost of revenue | $738.2M | $937.4M | $1.06B | $767.3M | $479.0M | $497.8M | $474.7M | $484.8M | $504.6M | $478.7M |
| Gross profit | $67.5M | $110.2M | $145.3M | $200.7M | $128.2M | $147.5M | $122.1M | $126.0M | $102.8M | $134.2M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $66.4M | $60.3M | $61.1M | $46.2M | $25.3M | $29.3M | $23.9M | $25.1M | $26.6M | $31.0M |
| Total operating expenses | $129.4M | $137.9M | $144.0M | $109.2M | $22.8M | $54.0M | $27.9M | $36.2M | $39.2M | $48.7M |
| Operating income | −$61.9M | −$27.7M | $1.3M | $91.5M | $105.4M | $93.4M | $94.3M | $89.8M | $63.5M | $85.6M |
| Interest income | $774,000 | $1.1M | $1.7M | $1.3M | $640,000 | $842,000 | $4.0M | $2.1M | $1.1M | $481,000 |
| Interest expense | $11.5M | $17.6M | $24.2M | $8.6M | $179.7M | $125.2M | $1.1M | $175,000 | $175,000 | $0 |
| Income before taxes | −$68.1M | −$36.7M | $19.9M | $181.1M | $106.0M | $94.3M | $97.2M | $91.9M | $64.5M | $86.0M |
| Income taxes | −$15.7M | −$7.0M | $5.1M | $47.5M | $26.8M | $23.5M | $24.2M | $19.2M | −$10.7M | $29.7M |
| Net income | −$52.5M | −$29.7M | $14.8M | $133.6M | $79.3M | $70.8M | $73.0M | $72.7M | $75.2M | $56.4M |
| EBITDA | $102.6M | $162.4M | $243.1M | $322.7M | $210.3M | $204.6M | $199.2M | $193.2M | $168.6M | $191.6M |
| EPS (diluted) | −$0.49 | −$0.37 | $0.18 | $1.04 | $1.00 | $0.87 | $0.89 | $0.82 | $0.51 | $0.68 |
| Gross margin | 8.4% | 10.5% | 12.0% | 20.7% | 21.1% | 22.9% | 20.5% | 20.6% | 16.9% | 21.9% |
| Operating margin | −7.7% | −2.6% | 0.1% | 9.4% | 17.4% | 14.5% | 15.8% | 14.7% | 10.5% | 14.0% |
| Net margin | −6.5% | −2.8% | 1.2% | 13.8% | 13.1% | 11.0% | 12.2% | 11.9% | 12.4% | 9.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $184.1M | $176.3M | $179.4M | $196.5M | $210.4M | $219.4M | $242.6M | $259.9M | $274.8M | $270.3M | $275.3M | $295.0M |
| Cost of revenue | $181.1M | $159.3M | $163.0M | $177.7M | $193.1M | $204.3M | $215.2M | $233.8M | $241.7M | $246.6M | $252.5M | $269.1M |
| Gross profit | $3.0M | $16.9M | $16.4M | $18.8M | $17.3M | $15.1M | $27.4M | $26.0M | $33.1M | $23.7M | $22.8M | $25.9M |
| Sales, general & admin | $13.8M | $14.4M | $18.4M | $17.5M | $16.4M | $14.2M | $13.9M | $14.1M | $28.2M | $31.6M | $17.0M | $11.8M |
| Total operating expenses | $11.5M | $27.5M | $32.4M | $32.7M | $32.5M | $31.8M | $32.4M | $33.2M | $32.8M | $38.1M | $12.1M | $33.4M |
| Operating income | −$8.5M | −$10.6M | −$16.0M | −$13.9M | −$15.2M | −$16.7M | −$5.0M | −$7.1M | $264,000 | −$14.4M | $10.7M | −$7.4M |
| Interest income | $370,000 | $207,000 | $213,000 | $235,000 | $198,000 | $129,000 | $232,000 | $258,000 | $288,000 | $366,000 | $303,000 | $276,000 |
| Interest expense | $1.9M | $2.2M | $2.5M | $2.9M | $3.0M | $3.1M | $3.5M | $4.2M | $4.6M | $5.3M | $5.9M | $6.1M |
| Income before taxes | $15.0M | −$5.3M | −$25.1M | −$9.9M | −$15.2M | −$17.9M | −$2.2M | −$11.1M | −$4.0M | −$19.3M | $5.1M | −$13.2M |
| Income taxes | $4.5M | −$477,000 | −$5.7M | −$1.6M | −$4.3M | −$4.0M | −$357,000 | −$1.8M | −$544,000 | −$4.2M | −$20,000 | −$2.5M |
| Net income | $10.6M | −$4.8M | −$19.4M | −$8.3M | −$10.9M | −$13.9M | −$1.9M | −$9.3M | −$3.5M | −$15.1M | $5.1M | −$10.7M |
| EBITDA | $23.8M | $32.1M | $14.7M | $31.7M | $29.2M | $26.9M | $45.2M | $38.1M | $46.7M | $32.5M | $62.1M | $43.9M |
| EPS (diluted) | $0.14 | −$0.06 | −$0.06 | −$0.11 | −$0.14 | −$0.18 | −$0.02 | −$0.12 | −$0.04 | −$0.19 | $0.06 | −$0.14 |
| Gross margin | 1.6% | 9.6% | 9.1% | 9.6% | 8.2% | 6.9% | 11.3% | 10.0% | 12.0% | 8.8% | 8.3% | 8.8% |
| Operating margin | −4.6% | −6.0% | −8.9% | −7.1% | −7.2% | −7.6% | −2.1% | −2.7% | 0.1% | −5.3% | 3.9% | −2.5% |
| Net margin | 5.7% | −2.7% | −10.8% | −4.2% | −5.2% | −6.3% | −0.8% | −3.6% | −1.3% | −5.6% | 1.9% | −3.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HTLD's financial statements (latest annual report filed March 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HTLD financial results
In fiscal year 2025 (ended December 31, 2025), Heartland Express reported revenue of $805.7 million, down 23.1% from the year before. It had a net loss of $52.5 million, a net profit margin of −6.5%. Diluted earnings per share came to −$0.49. Over five years revenue grew at an average rate of 4.5% a year.
See the HTLD stock overview for the latest quote and news, or the HTLD chart for price history and technical indicators.
HTLD income statement FAQ
What is Heartland Express's annual revenue?
Heartland Express reported total revenue of $805.7 million for fiscal year 2025, which ended on December 31, 2025. That was down 23.1% from $1.0 billion the previous year.
Is Heartland Express profitable?
No. Heartland Express reported a net loss of $52.5 million in fiscal 2025, a net profit margin of −6.5%; its operating margin was −7.7%.
What is Heartland Express's gross margin?
Heartland Express's gross margin was 8.4% in fiscal 2025: for every $100 of revenue, Heartland Express kept $8 after the direct cost of its products and services.
How fast is Heartland Express growing?
Revenue grew 4.5% a year on average over the last five fiscal years, from $645.3 million to $805.7 million.
What are Heartland Express's earnings per share?
Heartland Express earned $-0.49 per diluted share in fiscal 2025, compared with $-0.37 a year earlier.
When will Heartland Express report its next earnings?
Heartland Express is expected to report results for the quarter ending September 30, 2026 on October 30, 2026.
When does Heartland Express's fiscal year end?
Heartland Express's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 3, 2026.