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Heartland Express (HTLD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Heartland Express (HTLD) Q3 2026 earnings results →
Q3 2026 Revenue down 9% year over year to $180M · 1¢ of every $1 of revenue kept as net profit · operating margin 1.3%
Heartland Express made $180M in Q3 2026 (-9% Y/Y). Operating margin 1.3%, net earnings $959K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $179.5M in Q3 2026, down 9% year over year and down 3% from the previous quarter.
Operating profit was $2.3M, a 1.3% margin (up 5.0 points year over year). Total costs fell 13% while revenue fell 9%. Net earnings were $1.0M. The effective tax rate was 19.9%.
Operating cash flow was $19.0M (down 31% year over year), 1986% of net earnings. Non-cash charges added back $31.0M of depreciation and amortization and $946K of share-based compensation. Working capital and other items used $13.8M. Capital expenditures of $26.5M exceeded it, leaving free cash flow of −$7.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $180M | -9% | 1.3% | $959K | $19.0M |
| Q2 2026 | 10-Q | Aug 10, 2026 | $184M | -12% | 9.0% | $10.6M | $12.9M |
| Q1 2026 | 10-Q | May 11, 2026 | $176M | -20% | -1.9% | −$4.8M | $23.2M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $197M | -24% | -3.7% | −$8.3M | $27.5M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $210M | -23% | -5.9% | −$10.9M | $21.0M |
| Q1 2025 | 10-Q | May 12, 2025 | $219M | -19% | -6.8% | −$13.9M | $25.8M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Heartland Express
Heartland Express, Inc. is a holding company incorporated in Nevada, which directly or indirectly owns all of the stock of the following legal entities: Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc. (collectively, "Heartland Express"), and Midwest Holding Group, LLC and Millis Transfer, LLC (together, "Millis Transfer"), and Smith Transport, LLC ("Smith Transport"), and certain Mexican entities. Effective December 31, 2025, we integrated and rebranded U.S. operations of Contract Freighters, Inc. ("CFI") into Heartland Express. Effective December 31, 2024, Franklin Logistics, LLC was merged into Smith Transport, LLC. Effective December 31, 2023, Smith Trucking, Inc. was merged into Smith Transport, Inc. Further, effective December 31, 2023 Smith Transport, Inc. and Franklin Logistics, Inc.
In its own words, from its 10-K, filed Mar 3, 2026.
Heartland Express against its Trucking (No Local) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -9% against the peers' median +16%. Operating margin: 1.3% against the peers' median 6.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HTLD Heartland Express | Q3 2026 | $180M | -9% | 1.3% |
| JBHT Hunt J B Transport Services | Q3 2026 | $3.7B | +20% | 6.7% |
| KNX Knight-Swift Transportation Holdings | Q3 2026 | $2.2B | +14% | 8.1% |
| ODFL Old Dominion Freight Line | Q3 2026 | $1.6B | +13% | 28.5% |
| SNDR Schneider National | Q3 2026 | $1.6B | +9% | 3.9% |
| LSTR Landstar System | Q3 2026 | $1.5B | +25% | 4.3% |
| ARCB Arcbest | Q3 2026 | $1.2B | +16% | 6.1% |
| SAIA Saia | Q3 2026 | $982M | +17% | 12.4% |
| WERN Werner Enterprises | Q3 2026 | $951M | +23% | 1.8% |
Source: Heartland Express 10-Q on SEC EDGAR · CIK 799233 · Trucking (No Local)
Guidance and outlook
13F: who owns HTLD and who is buying
More on HTLD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results