Reported 28 days ago
Heartland Express reported a net loss of $9.3 million for the third quarter, marking its fifth consecutive quarter of losses as the company struggles in a challenging freight market. The company faced a 102.6% adjusted operating ratio, reflecting increasing operating expenses and declining revenue, which fell 11.9% year over year. CEO Mike Gerdin indicated that improvements are necessary in the freight environment to reverse the financial downturn, while acknowledging signs of hope in October but expecting no significant change until 2025.
Source: YAHOO