Heartland Express

Heartland Express sees no demand uptick in Q2

Truckload carrier Heartland Express said Monday it hasn’t seen a seasonal improvement in demand.

Heartland (NASDAQ: HTLD) reported second-quarter earnings per share of 10 cents, 6 cents light of the consensus estimate and well below the 29 cents it booked last year (excluding gains on real estate sales). The quarter included roughly $6 million in incremental interest expense from debt used to fund the acquisitions of Contract Freighters and Smith Transport.

Gains on equipment sales were only...

https://www.freightwaves.com/news/heartland-express-sees-no-demand-uptick-in-q2

Major trucking companies seek exemption for driver trainers

WASHINGTON — The training departments of three large truckload companies want to be exempted from federal rules for entry-level driver training because they claim it is causing them to be short of both instructors and drivers.

Drivers of the three companies — Heartland Express (NASDAQ: HTLD), Contract Freighters Inc. (CFI) and Millis Transfer (acquired by Heartland Express in 2019) — receive training from Millis Training Institute (MTI), the training division of Millis Transfer.

MTI, on behalf of...

https://www.freightwaves.com/news/major-trucking-companies-seek-exemption-for-driver-trainers

Knight-Swift CEO rejects push to allow truck drivers under 21

ORLANDO, Fla. — Allowing truck drivers 18-20 years old to drive interstate cargo — a plan strongly supported by the Biden administration and the American Trucking Associations and seen as a way to address a driver shortage — would be a drag on carrier economics and safety, according to Knight-Swift President and CEO David Jackson.

“The idea of bringing 18-year-old drivers in, I think is a horrific idea for a multitude of reasons,” Jackson told attendees at the Truckload Carriers Association here...

https://www.freightwaves.com/news/knight-swift-ceo-rejects-push-to-allow-truck-drivers-under-21

Recent acquisitions weigh on Heartland Express’ Q4

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Truckload carrier Heartland Express reported only a slight increase in operating income for the...

Acuerdos transformadores en el transporte por carretera durante 2022 

El flujo de operaciones en el sector del transporte y la logística se ralentizó notablemente en 2022 con el enfriamiento de la economía. Los inversionistas se han vuelto más reacios al riesgo, minimizando la exposición a empresas con historiales menos probados, a medida que los tipos de interés se han disparado y los mercados de crédito se han endurecido. 

Hasta noviembre, el valor de las transacciones en el sector ascendió a 52 billones de dólares en 380 operaciones, frente a 600 operaciones...

https://www.freightwaves.com/news/acuerdos-transformadores-en-el-transporte-por-carretera-durante-2022

Transformational deals in trucking during 2022

Deal flow in the transportation and logistics space slowed notably in 2022 as the economy cooled. Investors have become more risk averse, minimizing exposure to companies with less-proven track records, as interest rates have soared and credit markets have tightened.

Through November, transaction values in the industry totaled $52 billion across 380 deals compared with 600 deals for $181 billion in total during 2021, according to a report from global investment bank Houlihan Lokey (NYSE: HLI).

Eve...

Heartland Express embarks on its biggest challenge yet

A red CFI tractor and a white Heartland tractor

Management from Heartland Express will roll up its sleeves to again integrate a fleet with a less than stellar operating track record. On Monday, the Iowa-based truckload carrier acquired several assets from the Contract Freighters Inc. (CFI) portfolio, which is owned and operated by TFI International, for an enterprise value of $525 million.

In the deal, Heartland gets the over-the-road TL fleet (CFI Truckload), CFI Temp-Control and the Mexican cross-border TL and LTL asset-light logistics unit...

https://www.freightwaves.com/news/heartland-express-undertakes-another-turnaround-story

Heartland Express adquiere los activos de CFI por 525 millones de dólares 

A white CFI tractor pulling a white CFI trailer

Heartland Express anunció el lunes la adquisición de la unidad de carga de camiones de Contract Freighters Inc. (CFI) y su unidad de logística en México de TFI International por 525 millones de dólares. El acuerdo no incluye el negocio de camiones dedicados de CFI ni sus operaciones de intermediación en Estados Unidos. 

La combinación convertirá a Heartland (NASDAQ: HTLD) en la octava mayor flota de TL y la tercera mayor empresa de transporte de rutas irregulares en los Estados Unidos, con...

https://www.freightwaves.com/news/heartland-express-adquiere-los-activos-de-cfi-por-525-millones-de-dolares

Heartland Express acquires CFI assets for $525 million

A white CFI tractor pulling a white CFI trailer

Heartland Express announced Monday the acquisition of Contract Freighters Inc.’s (CFI) truckload unit and its non-asset logistics unit in Mexico from TFI International for $525 million. The deal does not include CFI’s dedicated trucking business or its U.S. brokerage operations.

The combination will make Heartland (NASDAQ: HTLD) the eighth-largest TL fleet and the third-largest asset-based, irregular route carrier in the U.S., with approximately 5,550 tractors, 17,800 trailers and $1.3 billion...

https://www.freightwaves.com/news/heartland-express-acquires-assets-from-cfi-for-525-million

Heartland Express: ‘Volatile freight demand’ in H2 will exceed available capacity

A green tractor pulling a white Heartland trailer

Heartland Express said Monday demand has stepped down from record levels but remains higher than the available capacity it has.

“Freight demand in the second quarter of 2022 softened sequentially to the first quarter of 2022,” CEO Mike Gerdin stated in a news release. “While the current levels are down compared against the unprecedented levels experienced in the later months of 2021, we continue to have significantly more opportunities to haul freight than we are able to cover with our existing...

https://www.freightwaves.com/news/heartland-express-volatile-freight-demand-in-2h-will-exceed-available-capacity

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