Heartland Express, Inc. Reports Net Income and Financial Results for the Third Quarter of 2026

Profitability improved despite lower revenue, while debt repayments totaled $59.9 million during the first nine months of 2026.

Rhea-AI Summary

Heartland Express (HTLD) returned to profitability in the third quarter of 2026, reporting net income of $1.0 million. Revenue fell to $179.5 million from $196.5 million a year earlier, while basic earnings per share improved to $0.01 from a loss of $0.11. The operating ratio, operating expenses divided by revenue, improved to 98.7% from 103.7%.

Nine-month revenue declined to $539.9 million from $626.4 million, but net income reached $6.7 million versus a $33.0 million loss. Debt and finance lease repayments totaled $59.9 million, leaving $99.9 million of debt at September 30. Cash rose to $48.5 million from $18.5 million at year-end. Heartland expects the positive effects of ongoing contract negotiations to be fully reflected only in 2027. For the remainder of 2026, it expects approximately $2 million to $5 million in net capital expenditures and $9 million to $13 million in equipment and property disposal gains.

32 points · 0 major

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0 major · 8 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter net income reached $1.0 million, versus an $8.3 million loss a year earlier.
• Moderate pointThird-quarter operating ratio improved to 98.7% from 103.7% a year earlier.
• Moderate pointDebt and finance lease repayments totaled $59.9 million over nine months, including $35 million during the third quarter. 7.4% of market cap
• Moderate pointCash increased by $30.0 million from December 31, 2025, to $48.5 million at September 30, 2026.
• Moderate pointOperating cash flow totaled $55.1 million, or 10.2% of revenue, for the first nine months.

27 minor points

• Minor pointThird-quarter basic earnings per share improved to $0.01 from a $0.11 loss a year earlier.
• Minor pointThird-quarter operating income reached $2.297 million, versus a $7.252 million loss a year earlier.
• Minor pointThird-quarter non-GAAP adjusted operating ratio improved to 97.6% from 103.5% a year earlier.
• Minor pointNine-month net income reached $6.7 million, versus a $33.0 million loss a year earlier.
• Minor pointNine-month basic earnings per share improved to $0.09 from a $0.42 loss a year earlier.
• Minor pointNine-month operating income reached $15.6 million, versus a $34.6 million loss a year earlier.
• Minor pointNine-month operating ratio improved to 97.1% from 105.5% a year earlier.
• Minor pointNine-month non-GAAP adjusted operating ratio improved to 95.7% from 105.6% a year earlier.
• Minor pointSmith Transport acquisition-related debt and finance leases were fully retired in the first three months of 2026.
• Minor pointUnused credit-line borrowing capacity was $88.8 million at September 30, with no borrowings and financial covenants met.
• Minor pointThird-quarter salaries, wages and benefits fell to $65.894 million from $77.253 million a year earlier.
• Minor pointNine-month salaries, wages and benefits fell to $204.123 million from $257.649 million a year earlier.
• Minor pointThird-quarter rent and purchased transportation fell to $9.284 million from $12.303 million a year earlier.
• Minor pointNine-month rent and purchased transportation fell to $30.540 million from $39.920 million a year earlier.
• Minor pointThird-quarter operations and maintenance costs fell to $12.261 million from $15.367 million a year earlier.
• Minor pointNine-month operations and maintenance costs fell to $36.910 million from $50.085 million a year earlier.
• Minor pointThird-quarter insurance and claims costs fell to $9.329 million from $15.342 million a year earlier.
• Minor pointNine-month insurance and claims costs fell to $33.891 million from $41.419 million a year earlier.
• Minor pointThird-quarter depreciation and amortization fell to $30.963 million from $38.742 million a year earlier.
• Minor pointNine-month depreciation and amortization fell to $98.426 million from $121.833 million a year earlier.
• Minor pointThird-quarter interest expense fell to $1.589 million from $2.908 million a year earlier.
• Minor pointNine-month interest expense fell to $5.677 million from $8.974 million a year earlier.
• Minor pointThird-quarter disposal gains rose to $7.832 million from $6.688 million a year earlier.
• Minor pointNine-month disposal gains rose to $40.199 million from $11.254 million a year earlier.
• Minor pointNet property and equipment transactions provided $44.7 million of cash during the first nine months.
• Minor point. Forward-looking: it has not happened yet and may not happen.Heartland expects $9 million to $13 million in property and equipment disposal gains over the remainder of 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Heartland expects approximately $2 million to $5 million in net capital expenditures over the remainder of 2026.

Negative

• Moderate pointThird-quarter revenue fell to $179.5 million from $196.5 million a year earlier.
• Moderate pointThird-quarter fuel expense rose to $43.236 million from $34.081 million a year earlier.
• Moderate pointRemaining debt of $99.9 million was classified as current at September 30, 2026.
• Moderate pointCurrent liabilities of $200.842 million exceeded current assets of $153.814 million at September 30, 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Heartland expects ongoing contract negotiations' positive effects to be fully reflected only in 2027.

3 minor points

• Minor pointNine-month revenue fell to $539.9 million from $626.4 million a year earlier.
• Minor pointNine-month fuel expense rose to $116.523 million from $105.708 million a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Planned excess-trailer disposals depend on improving used-equipment market conditions.

News Explained

Heartland repurchased 183,371 shares for $2.2 million in the third quarter; authorization to repurchase a further 4.5 million shares is capacity, not a disclosed purchase commitment—the release says full execution would leave 72.7 million outstanding.

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Market Reaction – HTLD

$9.76 – $10.40 Day Range

$803.49M Mkt Cap at Last Price

On Oct 20, the day this news came out, the latest delayed price for HTLD is 1.33% below the previous close. The latest delayed price is $10.39. Relative volume is above average at 1.8x the average.

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Key Figures

Operating revenue: $179.5 million Net income: $1.0 million Basic earnings per share: $0.01 +5 more

Operating revenue

$179.5 million

Q3 2026, compared with $196.5 million in Q3 2025

Net income

$1.0 million

Q3 2026, compared with a net loss of $8.3 million in Q3 2025

Basic earnings per share

$0.01

Q3 2026, compared with a loss per share of $0.11 in Q3 2025

Operating ratio

98.7%

Q3 2026, compared with 103.7% in Q3 2025

Net income

$6.7 million

Nine months ended September 30, 2026, compared with a net loss of $33.0 million in 2025

Operating income

$15.6 million

Nine months ended September 30, 2026, compared with an operating loss of $34.6 million in 2025

Acquisition-related debt and finance lease obligations

$99.9 million

At September 30, 2026, down from $494.1 million in 2022

Net cash flows from operations

$55.1 million

First nine months of 2026

Previous Earnings Reports

1 past event · Latest: Jul 30

Same Type 1 event

1. Jul 30

   Q2 earnings

   24h Move

   -2.0%

   Q2 2026 earnings returned to profitability despite lower revenue, with an improved operating ratio.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-gaap, operating ratio, finance lease, forward-looking statements

4 terms

non-gaap financial

"97.6% Non-GAAP Adjusted Operating Ratio"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

operating ratio financial

"Operating Ratio of 98.7% (a 500bp improvement to Q3 2025)"

A company's operating ratio is a simple percentage that shows how much of its revenue is eaten up by the costs of running the business — calculated by dividing operating expenses by operating revenue. For investors it signals efficiency and profit potential: a lower operating ratio means the company keeps more of each dollar it earns (like a household with lower bills keeping more of its paycheck), while a higher ratio suggests tighter margins and less room to absorb shocks.

finance lease financial

"debt and finance lease obligations reduced from $494.1 million"

A finance lease is a long-term rental arrangement that, for accounting and economic purposes, looks and acts like buying the asset: the user records the asset and a matching liability on its balance sheet and typically takes on most of the risks and rewards of ownership. For investors this matters because finance leases increase reported assets and debt, change profit and cash-flow measures, and reveal fixed future payment commitments—similar to discovering a company has taken out a loan to acquire equipment rather than simply paying month-to-month rent.

forward-looking statements regulatory

"might be considered as forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NORTH LIBERTY, Iowa, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three and nine months ended September 30, 2026.

Three months ended September 30, 2026:

• Operating Revenue of $179.5 million,
• Net Income of $1.0 million,
• Basic Earnings per Share of $0.01,
• Operating Ratio of 98.7% (a 500bp improvement to Q3 2025) and 97.6% Non-GAAP Adjusted Operating Ratio⁽¹⁾,
• Purchased 183,371 shares of our common stock for $2.2 million,
• Payments of $35 million to reduce outstanding acquisition-related debt,
• Total Assets of $1.1 billion, including $48.5 million of Cash,
• Stockholders' Equity of $754.1 million.
  
  

Nine months ended September 30, 2026:

• Operating Revenue of $539.9 million,
• Net Income of $6.7 million,
• Basic Earnings per Share of $0.09,
• Operating Ratio of 97.1% and 95.7% Non-GAAP Adjusted Operating Ratio⁽¹⁾,
• Purchased 355,432 shares of our common stock for $4.6 million,
• Smith Transport debt and equipment leases eliminated,
• Payments of $59.9 million to reduce outstanding debt and finance lease obligations. Acquisition-related debt and finance lease obligations reduced from $494.1 million in 2022 to $99.9 million.
  
  

Heartland Express Chief Executive Officer Mike Gerdin commented on the quarterly operating results and ongoing initiatives of the Company, “Our consolidated operating results for the three months ended September 30, 2026, reflect significant operating ratio improvement (98.7%) as compared to the third quarter of 2025 (103.7%). The improved financial results reflect stronger freight volumes and improved customer pricing resulting from ongoing industry capacity reductions, even though we do not expect the positive impacts of ongoing contract negotiations to be fully reflected in our operating results until 2027. During the third quarter of 2026, we continued to pay down acquisition-related debt and repurchase shares of our common stock. Our operating expenses were significantly impacted by rising fuel costs throughout the quarter, along with inflationary impacts to maintenance, repairs, and other employee-related costs. We expect to rely on our positive cash flows from operations to invest in our fleet of tractors and trailers over the remainder of the year. This allows us to continue our commitment to our professional drivers and our customers, to provide the latest and most efficient equipment throughout our operating fleet for their benefit.”

Financial Results

For the three months ended September 30, 2026, the Company delivered operating revenues of $179.5 million, compared to $196.5 million in the same period of 2025. Operating revenues for the quarter included fuel surcharge revenues of $32.7 million, compared to $24.1 million in the same period of 2025. Net income was $1.0 million, as compared to a net loss of ($8.3) million in the third quarter of 2025. Basic earnings per share was $0.01 during the quarter, as compared to basic loss per share of $(0.11) in the same period of 2025. The Company posted an operating ratio of 98.7%, non-GAAP adjusted operating ratio⁽¹⁾ of 97.6%, and net income as a percentage of operating revenues of 0.5% in the third quarter of 2026 compared to 103.7%, 103.5%, and (4.2)% (net loss as a percentage of operating revenues) respectively, in the third quarter of 2025.

For the nine months ended September 30, 2026, the Company delivered operating revenues of $539.9 million, compared to $626.4 million in the same period of 2025. Operating revenues for the period included fuel surcharge revenues of $86.9 million, compared to $75.0 million in the same period of 2025. Operating income for the nine-month period ended September 30, 2026 was $15.6 million, compared to an operating loss of $(34.6) million in the same period of the prior year, an improvement of $50.2 million. Net income was $6.7 million, compared to net loss of $(33.0) million in the same period of the prior year. Basic earnings per share was $0.09 during the nine-month period as compared to $(0.42) basic loss per share during the same period of 2025. The Company posted an operating ratio of 97.1%, non-GAAP adjusted operating ratio⁽¹⁾ of 95.7%, and net income as a percentage of operating revenues of 1.2% for the nine months ended September 30, 2026 compared to 105.5%, 105.6%, and (5.3)% (net loss as a percentage of operating revenues) respectively, in the same period of the prior year.

Balance Sheet, Liquidity, and Capital Expenditures

As of September 30, 2026, the Company had $48.5 million in cash balances, an increase of $30.0 million since December 31, 2025. Debt of $99.9 million remains at September 30, 2026, down from total combined debt and finance lease obligations of $494.1 million related to the Smith Transport and Contract Freighters, Inc. acquisitions in 2022. These reductions occurred during very challenging truckload operating conditions during the same period. The acquisition-related debt and finance lease obligations of Smith Transport were fully retired in the first three months of 2026. There were no borrowings under the Company's unsecured line of credit at September 30, 2026. The Company had $88.8 million in available borrowing capacity on the line of credit as of September 30, 2026 after consideration of $11.2 million of outstanding letters of credit. The Company continues to be in compliance with associated financial covenants. The Company ended the quarter with total assets of $1.1 billion and stockholders' equity of $754.1 million.

Net cash flows from operations for the first nine months of 2026 were $55.1 million or 10.2% of operating revenue. The primary uses of cash for financing activities were $59.9 million used for repayment of debt and financing leases along with $4.6 million for dividends paid and $4.6 million for repurchases of common stock. Cash provided by investing activities included $44.7 million from net property and equipment transactions.

The average age of the Company's consolidated tractor fleet was 2.3 years as of September 30, 2026 compared to 2.6 years as of September 30, 2025. The average age of the Company's consolidated trailer fleet was 7.1 years as of September 30, 2026 compared to 7.5 years as of September 30, 2025. We expect to continue to dispose of excess trailers within our fleet as used equipment market conditions improve. For the remainder of 2026, we currently expect total net capital expenditures to be approximately $2 to $5 million and $9 to $13 million of total gains on disposal of property and equipment.

The Company continues its commitment to stockholders through the payment of cash dividends. Our regular dividend of $0.02 per share was declared during the third quarter of 2026 and paid on October 7, 2026. The Company has now paid cumulative cash dividends of $566.1 million, including four special dividends, ($2.00 in 2007, $1.00 in 2010, $1.00 in 2012, and $0.50 in 2021) over the past ninety-three consecutive quarters since 2003. Our outstanding shares at September 30, 2026 were 77.2 million. A total of 2.2 million shares of common stock have been repurchased for $22.9 million over the past five years. The Company has the ability to repurchase an additional 4.5 million shares under the current authorization which would result in 72.7 million outstanding shares if fully executed.

Other Information

During the third quarter of 2026, our family of operating brands continued to deliver award-winning service as Heartland Express was recognized with the FedEx Yearly Performer award for outstanding performance and received Logistics Management Magazine’s 2026 Quest for Quality Award within the Expedited Motor Carriers classification.

Operating revenue excluding fuel surcharge revenue, adjusted operating income (loss), and adjusted operating ratio are non-GAAP financial measures and are not intended to replace financial measures calculated in accordance with GAAP. These non-GAAP financial measures supplement our GAAP results. We believe that using these measures affords a more consistent basis for comparing our results of operations from period to period. The information required by Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934, including a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP, is included in the table at the end of this press release.

This press release may contain statements that might be considered as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as “seek,” “expects,” “estimates,” “anticipates,” “projects,” “believes,” “hopes,” “plans,” “goals,” “intends,” “may,” “might,” “likely,” “will,” “should,” “would,” “could,” “potential,” “predict,” “continue,” “strategy,” “future,” “ensure,” “outlook,” and similar terms and phrases. In this press release, the statements relating to freight supply and demand, our ability to react to and capitalize on changing market conditions, the expected impact of operational improvements and strategic changes, progress toward our goals, future capital expenditures, future dispositions of revenue equipment and property and gains therefrom, future profitability, and future stock repurchases, dividends, and debt repayment are forward-looking statements. Such statements are based on management's belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties, and undue reliance should not be placed on such statements. Actual events may differ materially from those set forth in, contemplated by, or underlying such statements as a result of numerous factors, including, without limitation, those specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. The Company assumes no obligation to update any forward-looking statements, which speak as of their respective dates.

Contact: Heartland Express, Inc. (319-645-7060) Mike Gerdin, Chief Executive Officer Chris Strain, Chief Financial Officer

HEARTLAND EXPRESS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts) (unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
OPERATING REVENUE		$	179,504			$	196,547			$	539,887			$	626,354
OPERATING EXPENSES:
Salaries, wages, and benefits		$	65,894			$	77,253			$	204,123			$	257,649
Rent and purchased transportation			9,284				12,303				30,540				39,920
Fuel			43,236				34,081				116,523				105,708
Operations and maintenance			12,261				15,367				36,910				50,085
Operating taxes and licenses			3,759				4,241				11,476				13,404
Insurance and claims			9,329				15,342				33,891				41,419
Communications and utilities			1,956				2,187				5,530				6,658
Depreciation and amortization			30,963				38,742				98,426				121,833
Other operating expenses			8,357				10,971				27,116				35,501
Gain on disposal of property and equipment			(7,832	)			(6,688	)			(40,199	)			(11,254	)
			177,207				203,799				524,336				660,923
Operating income (loss)			2,297				(7,252	)			15,551				(34,569	)
Interest income			490				235				1,067				561
Interest expense			(1,589	)			(2,908	)			(5,677	)			(8,974	)
Income (loss) before income taxes			1,198				(9,925	)			10,941				(42,982	)
Federal and state income tax (benefit)			239				(1,641	)			4,221				(9,971	)
Net Income (loss)		$	959			$	(8,284	)		$	6,720			$	(33,011	)
Income (loss) per share
Basic		$	0.01			$	(0.11	)		$	0.09			$	(0.42	)
Diluted		$	0.01			$	(0.11	)		$	0.09			$	(0.42	)
Weighted average shares outstanding
Basic			77,317				77,465				77,392				78,024
Diluted			77,392				77,518				77,427				78,086
Dividends declared per share		$	0.02			$	0.02			$	0.06			$	0.06

HEARTLAND EXPRESS, INC. AND SUBSIDIARIES  CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (unaudited)
		September 30,				December 31,
ASSETS			2026				2025
CURRENT ASSETS
Cash and cash equivalents		$	48,503			$	18,475
Trade receivables, net			75,530				74,172
Prepaid tires			11,103				11,626
Other current assets			18,678				9,181
Income taxes receivable			—				1,146
Total current assets			153,814				114,600
PROPERTY AND EQUIPMENT			962,225				1,148,693
Less accumulated depreciation			411,637				481,471
			550,588				667,222
GOODWILL			322,597				322,597
OTHER INTANGIBLES, NET			65,749				69,512
OTHER ASSETS			14,772				14,686
DEFERRED INCOME TAXES, NET			1,186				1,353
OPERATING LEASE RIGHT OF USE ASSETS			14,291				1,647
		$	1,122,997			$	1,191,617
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities		$	27,578			$	33,479
Compensation and benefits			24,346				25,061
Insurance accruals			29,579				31,437
Long-term debt and finance lease liabilities - current portion			99,890				5,714
Operating lease liabilities - current portion			3,287				1,330
Other accruals			13,190				13,143
Income taxes payable			2,972				—
Total current liabilities			200,842				110,164
LONG-TERM LIABILITIES
Income taxes payable			5,906				5,427
Long-term debt and finance lease liabilities less current portion			—				154,059
Operating lease liabilities less current portion			11,004				317
Deferred income taxes, net			120,738				133,629
Insurance accruals less current portion			30,410				32,702
Total long-term liabilities			168,058				326,134
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2026 and 2025; outstanding 77,203 and 77,445 in 2026 and 2025, respectively			907				907
Additional paid-in capital			2,197				2,979
Retained earnings			967,484				965,405
Treasury stock, at cost; 13,486 and 13,244 in 2026 and 2025, respectively			(216,491	)			(213,972	)
			754,097				755,319
		$	1,122,997			$	1,191,617

(1)

GAAP to Non-GAAP Reconciliation Schedule:
Operating revenue excluding fuel surcharge revenue, adjusted operating expenses, adjusted operating income (loss), and adjusted operating ratio reconciliation (a)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
		(Unaudited, in thousands)								(Unaudited, in thousands)
Operating revenue		$	179,504			$	196,547			$	539,887			$	626,354
Less: Fuel surcharge revenue			32,723				24,122				86,909				74,952
Operating revenue, excluding fuel surcharge revenue			146,781				172,425				452,978				551,402
Operating expenses			177,207				203,799				524,336				660,923
Less: Fuel surcharge revenue			32,723				24,122				86,909				74,952
Less: Amortization of intangibles			1,254				1,254				3,763				3,763
Adjusted operating expenses			143,230				178,423				433,664				582,208
Operating income (loss)			2,297				(7,252	)			15,551				(34,569	)
Adjusted operating income (loss)		$	3,551			$	(5,998	)		$	19,314			$	(30,806	)
Operating ratio			98.7	%			103.7	%			97.1	%			105.5	%
Adjusted operating ratio			97.6	%			103.5	%			95.7	%			105.6	%

(a) Operating revenue excluding fuel surcharge revenue, as reported in this press release is based upon operating revenue minus fuel surcharge revenue. Adjusted operating income (loss) as reported in this press release is based upon operating revenue excluding fuel surcharge revenue, less operating expenses, net of fuel surcharge revenue, and non-cash amortization expense related to intangible assets. Adjusted operating ratio as reported in this press release is based upon operating expenses, net of fuel surcharge revenue, and amortization of intangibles, as a percentage of operating revenue excluding fuel surcharge revenue. We believe that operating revenue excluding fuel surcharge revenue, adjusted operating income (loss), and adjusted operating ratio are more representative of our underlying operations by excluding the volatility of fuel prices, which we cannot control. Operating revenue excluding fuel surcharge revenue, adjusted operating income (loss), and adjusted operating ratio are not substitutes for operating revenue, operating income (loss), or operating ratio measured in accordance with GAAP. There are limitations to using non-GAAP financial measures. Although we believe that operating revenue excluding fuel surcharge revenue, adjusted operating income (loss), and adjusted operating ratio improve comparability in analyzing our period-to-period performance, they could limit comparability to other companies in our industry if those companies define such measures differently. Because of these limitations, operating revenue excluding fuel surcharge revenue, adjusted operating income (loss), and adjusted operating ratio should not be considered measures of income generated by our business or discretionary cash available to us to invest in the growth of our business. Management compensates for these limitations by primarily relying on GAAP results and using non-GAAP financial measures on a supplemental basis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Heartland Express's third-quarter 2026 earnings and revenue?

Heartland Express reported $1.0 million in net income and $179.5 million in revenue for the third quarter of 2026. A year earlier, it reported an $8.3 million net loss and $196.5 million in revenue. Basic earnings per share improved to $0.01 from a loss of $0.11.

How much credit-line capacity did Heartland Express have at September 30, 2026?

Heartland Express had $88.8 million in available borrowing capacity under its unsecured credit line at September 30, 2026. That availability reflected $11.2 million in outstanding letters of credit. There were no borrowings under the line, and the company remained in compliance with its associated financial covenants.

How much stock can Heartland Express still repurchase?

Heartland Express could repurchase an additional 4.5 million shares under its current authorization. Full execution would leave 72.7 million shares outstanding, compared with 77.2 million at September 30, 2026. The authorization does not represent a completed repurchase.