Heartland Express Inc. reported financial results for the fourth quarter (Q4) and full year (FY) ended December 31, 2025. For Q4 2025, Heartland Express posted revenues of USD 179.4 million, including fuel surcharge revenues of USD 21.7 million. The company reported a net loss of USD 19.4 million, with a basic loss per share of USD 0.25. The operating ratio for the quarter was 112.7%, which included the impact of a non-cash trade name impairment of USD 19.0 million, while the non-GAAP adjusted operating ratio stood at 101.6%. Operating cash flows represented 8.3% of revenues. As of the end of Q4 2025, total assets were USD 1.2 billion, and stockholders' equity was USD 755.3 million. For the full year 2025, Heartland Express recorded revenues of USD 805.7 million. Chief Executive Officer Mike Gerdin stated that the company demonstrated sequential improvement in operational metrics throughout 2025, attributing this to internal process enhancements and consolidation of its two largest driver fleets into Heartland Express. The CEO noted that while a trade name impairment affected Q4 results, adjusted operating ratios improved each quarter during the year. Strategic investments and operational changes are expected to further improve results in 2026, supported by early positive trends in customer volumes and rates. The company also highlighted its ability to generate operating cash flow, repurchase shares, and pay down debt during a period of prolonged industry weakness.

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