Heartland Express Inc. (HTLD: Quote) reported that its second-quarter net income increased to $19.1 million compared to $18.2 million in the 2012 period, a 5.0% increase. Earnings per share increased 9.5% to $0.23 from $0.21 in the second quarter of 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.
Operating income for the quarter improved to $29.37 million from last year's $26.75 million. Operating income for the quarter was positively impacted by $5.1 million of increases in gains on disposal of property and equipment as the Company continues its fleet upgrade program.
Operating revenues for the quarter decreased to $134.0 million from $139.7 million in the second quarter 2012. Twelve analysts had consensus revenue estimate of $141.73 million for the quarter. Operating revenues were negatively impacted by lower fuel surcharge revenues which were $27.3 million for the quarter, a 6.7% decline from $29.2 million in the same period of 2012.
Click here to receive FREE breaking news email alerts for Heartland Express and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org