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1. Company Snapshot

1.a. Company Description

Heartland Express, Inc., together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada.It primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.The company offers its services under the Heartland Express and Millis Transfer brand names.


It primarily serves retailers and manufacturers in consumer goods, appliances, food products, and automotive industries.The company was founded in 1978 and is headquartered in North Liberty, Iowa.

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1.b. Last Insights on HTLD

Heartland Express's recent performance was negatively driven by its Q4 loss and revenue miss, which came as a surprise despite expectations of a beat. The company reported a quarterly loss of $0.02 per share, missing estimates of a loss of $0.04. Additionally, its revenue fell short of expectations. Despite this, the company has made progress in reducing its debt, aiming for a debt-free balance sheet, which could de-risk the business and set it up for a potential turnaround in the trucking industry.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Creative Planning Buys 57,080 Shares of Heartland Express, Inc. $HTLD

Dec -04

Source: defenseworld.net

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Heartland Express: Limited Growth Prospects, But Risks Have Already Been Priced In

Nov -13

Source: seekingalpha.com

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Heartland Express, Inc. Reports Operating Results for the Third Quarter of 2025

Oct -31

Source: globenewswire.com

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Heartland Express, Inc. Declares Regular Quarterly Dividend

Sep -12

Source: globenewswire.com

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Heartland Express: Recent Stock Price Downtrend Has Already Been Overdone

Aug -21

Source: seekingalpha.com

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Here's What Key Metrics Tell Us About Heartland Express (HTLD) Q2 Earnings

Jul -24

Source: zacks.com

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Heartland Express (HTLD) Reports Q2 Loss, Lags Revenue Estimates

Jul -24

Source: zacks.com

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Heartland Express, Inc. Reports Operating Results for the Second Quarter of 2025

Jul -24

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.00%)

6. Segments

Truckload Services

Expected Growth: 6.0%

Heartland Express' 6.0% growth in Truckload Services is driven by increasing demand for dedicated capacity, strategic fleet expansion, and operational efficiency gains. Additionally, the company's focus on high-service, high-revenue lanes and its ability to attract and retain experienced drivers have contributed to its growth momentum.

7. Detailed Products

Truckload Services

Heartland Express provides truckload services, offering a range of transportation solutions for shippers, including dry van, refrigerated, and dedicated truckload services.

Dedicated Services

Heartland Express offers dedicated services, providing customized transportation solutions for shippers with unique logistics needs, including dedicated fleets and warehousing services.

Intermodal Services

Heartland Express provides intermodal services, combining truck and rail transportation to offer a cost-effective and efficient way to move goods.

Logistics Services

Heartland Express offers logistics services, including freight brokerage, warehousing, and distribution services, to help shippers manage their supply chains.

8. Heartland Express, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Heartland Express, Inc. is medium due to the availability of alternative transportation modes such as air and rail. However, the convenience and flexibility of trucking services provided by Heartland Express, Inc. mitigate this threat to some extent.

Bargaining Power Of Customers

The bargaining power of customers is low due to the fragmented nature of the trucking industry, which makes it difficult for customers to negotiate prices. Additionally, Heartland Express, Inc.'s strong brand reputation and quality services reduce the bargaining power of customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the availability of alternative suppliers of trucks, fuel, and other essential inputs. However, Heartland Express, Inc.'s long-term contracts with suppliers and its strong relationships with them reduce the bargaining power of suppliers.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the trucking industry, including the need for significant capital investment in trucks, equipment, and infrastructure. Additionally, Heartland Express, Inc.'s established brand reputation and network of terminals and facilities make it difficult for new entrants to compete.

Intensity Of Rivalry

The intensity of rivalry is high due to the competitive nature of the trucking industry, with many players competing for market share. Heartland Express, Inc. faces intense competition from other trucking companies, which puts pressure on prices and margins.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 25.63%
Debt Cost 7.21%
Equity Weight 74.37%
Equity Cost 7.21%
WACC 7.21%
Leverage 34.47%

11. Quality Control: Heartland Express, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Marten Transport

A-Score: 4.7/10

Value: 5.9

Growth: 3.2

Quality: 5.1

Yield: 5.0

Momentum: 1.0

Volatility: 8.0

1-Year Total Return ->

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Covenant Logistics Group

A-Score: 4.4/10

Value: 5.9

Growth: 6.9

Quality: 4.2

Yield: 1.0

Momentum: 2.5

Volatility: 6.0

1-Year Total Return ->

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Heartland Express

A-Score: 4.3/10

Value: 8.9

Growth: 3.7

Quality: 3.8

Yield: 2.0

Momentum: 1.0

Volatility: 6.3

1-Year Total Return ->

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Universal Logistics Holdings

A-Score: 4.2/10

Value: 9.3

Growth: 5.7

Quality: 3.4

Yield: 4.0

Momentum: 0.0

Volatility: 3.0

1-Year Total Return ->

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Twin Disc

A-Score: 4.2/10

Value: 6.1

Growth: 4.8

Quality: 3.6

Yield: 1.0

Momentum: 7.0

Volatility: 2.7

1-Year Total Return ->

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PAM Transportation Services

A-Score: 3.6/10

Value: 8.4

Growth: 2.9

Quality: 2.2

Yield: 0.0

Momentum: 6.5

Volatility: 1.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

9.07$

Current Price

9.07$

Potential

-0.00%

Expected Cash-Flows