The EPS miss is notable but the underlying operational improvement (profitability, debt paydown, cash build) provides a floor. Watch for Q4 guidance on contract negotiations and fleet capex — management expects positive impacts from contract renegotiations to materialize in 2027. The stock may trade range-bound near $10-11 until clearer revenue growth emerges.
Price Chart
Executive Summary
Heartland Express reported Q3 2026 EPS of $0.01, a 75% miss vs the $0.04 consensus, and revenue of $179.5M slightly above the $176.9M estimate. The company swung to net income of $1.0M from a net loss of $8.3M a year ago, driven by a 500bp improvement in operating ratio to 98.7%, but revenue declined 8.7% YoY as fuel surcharge revenue rose while base freight revenue fell. The stock will likely trade flat to slightly negative as the EPS miss is partially offset by the profitability turnaround and aggressive debt paydown.
Key Financial Metrics
Key Facts
- Q3 2026 EPS $0.01 vs consensus $0.04 (74.8% miss)
- Q3 2026 revenue $179.5M vs consensus $176.9M (1.5% beat)
- Revenue declined 8.7% YoY from $196.5M to $179.5M
- Net income of $1.0M vs net loss of $8.3M in Q3 2025
- Operating ratio improved 500bp to 98.7% from 103.7% YoY
- Acquisition-related debt reduced by $35M in Q3, to $99.9M total
- Cash balance increased to $48.5M from $18.5M at Dec 2025
- Repurchased 183,371 shares for $2.2M in Q3
Financial Impact
EPS miss of $0.03 vs consensus; revenue beat of $2.6M; net income swing of +$9.3M YoY
Risk Factors
- Rising fuel costs and inflationary pressure on maintenance/repairs
- Revenue continues to decline YoY, driven by lower base freight revenue
- Contract renegotiation benefits not expected until 2027
- Used equipment market conditions could affect disposal gains
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000799233-26-000045 |
| Document: htld-20261020.htm | 0000799233-26-000045 |
| Document: 0000799233-26-000045-index-headers.html | 0000799233-26-000045 |
| Document: 0000799233-26-000045-index.html | 0000799233-26-000045 |
| Document: 0000799233-26-000045.txt | 0000799233-26-000045 |
| 8-K Data (Synthetic) | 0000799233-26-000045 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 8-K | $10.26 | awaiting T+20 | awaiting T+20 | $10.37 (+1.07%) |
Sep 15, 2026 6w ago | Press Release | $11.88 $10.88 | ▼ −8.42% | ▼ −10.48% | $10.37 (−12.71%) |
Sep 11, 2026 6w ago | Press Release | $12.34 $11.12 | ▼ −9.89% | ▼ −11.75% | $10.37 (−15.96%) |
Sep 2, 2026 7w ago | 8-K | $12.10 $11.64 | ▼ −3.80% | ▼ −3.65% | $10.37 (−14.30%) |
Jun 11, 2026 19w ago | Institutional Cluster | $16.22 $14.96 | ▼ −7.77% | ▼ −9.66% | $10.37 (−36.07%) |
May 14, 2026 23w ago | Press Release | $13.30 $15.82 | ▲ +18.95% | ▲ +16.83% | $10.37 (−22.03%) |
Apr 23, 2026 26w ago | Press Release | $12.02 $14.03 | ▲ +16.72% | ▲ +12.09% | $10.37 (−13.73%) |
Apr 2, 2026 29w ago | DEFA14A | $10.64 $13.38 | ▲ +25.75% | ▲ +15.88% | $10.37 (−2.54%) |
Mar 18, 2026 31w ago | 8-K | $9.49 $11.33 | ▲ +19.38% | ▲ +13.33% | $10.37 (+9.26%) |
Mar 13, 2026 32w ago | Press Release | $9.51 $11.03 | ▲ +15.97% | ▲ +12.38% | $10.37 (+9.03%) |
US Market Status
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