Heartland Express (HTLD) investor relations material

Executive summary

• Q3 2026 net income was $1.0 million versus a net loss of $8.3 million in Q3 2025; operating ratio improved to 98.7% from 103.7%.

• 9M 2026 net income was $6.7 million versus a net loss of $33.0 million in 9M 2025, with operating income improving by $50.2 million to $15.6 million.

Financial highlights

• Q3 operating revenue was $179.5 million versus $196.5 million YoY; fuel surcharge revenue was $32.7 million versus $24.1 million.

• Q3 operating income was $2.3 million versus an operating loss of $7.3 million YoY; EPS was $0.01 versus a loss of $0.11.

• 9M operating revenue was $539.9 million versus $626.4 million YoY; EPS was $0.09 versus a loss of $0.42.

• 9M net cash from operations was $55.1 million, or 10.2% of operating revenue; cash was $48.5 million at quarter-end, up $30.0 million since Dec. 31, 2025.

Outlook and guidance

• For the remainder of 2026, expected net capital expenditures are $2–$5 million and gains on disposal of property and equipment are $9–$13 million.

• Positive operating cash flows are expected to fund fleet tractor and trailer investments over the rest of 2026.

• Positive impacts from ongoing contract negotiations are not expected to be fully reflected in operating results until 2027.