Heartland Express posts record annual revenue

HTLD remains an interesting, mostly debt-free outfit that pulled off a major coup for both itself and the Gordons by acquiring GTI.

 

Yeah, but why would their financials matter at all? Nothing will change for the drivers. They will continue to get played with. Sure a bigger cpm, but everyone has given a raise. Heartland is still playing with starving drivers out, and now they're doing it to GTI. What money they make in the market means nothing to a guy trying to make it on 1200 miles a week

 

Doesn't it take 2 years to pay off your training at Millis, or did you pay cash?

 

Let me show you a difference. When Lessors bought out Pullen,Motor West, and WW, it meant something. Those guys were running ragged equipment, some making .25 a mile. Lessors bought the companies, and gave EVERY driver a raise to come current with what Lessors was paying. Which meant .10 or better a mile. Their old trucks were replaced with brand new ones with APUs and inverters. The trailers were all sold and replaced with brand new ones. And the guys had more lane options to make more money.

Heartland bought out GTI and is implementing more rules, making it more regional, and those blue trucks will be replaced with Heartland spec'd equipment. When GTI did better, the drivers felt it with better equipment, raises, bonuses, etc. Heartland continues with business as usual, and its not helping the people who actually make them their money. Stocks don't mean a ###### thing to a guy who has to figure out if they're gonna let him run or not. Actions mean things.

 

Millis only requires a year with them.

 

There won't be a quarterly report -- they just file the annual report instead (in the last 3 years released on: 3/3, 3/1, & 2/28)

 

Correct. The 10-K has more detail than the 10-Q as well. It's the 'official' report to existing and prospective shareholders.

Con-way, Old Dominion, Ryder and Swift all recently issued 10-Ks for year ending last quarter 2014.


//Edited to correct my statement that some issue 10-Qs anyway. Wrong!!

 

Doesn't make a big difference to most drivers, but you can get a glimpse into management's thoughts & priorities. It's often subtle; for example, if you look closely at the language used to describe drivers by Con-way Truckload presidents over the last 5 years, you would see a shift from a praise of human beings to a dry description of a commodity.

 

Surprisingly, Swift tried to get more 'human' this year, saying that their drivers deserve more. HTLD brags a 10% across the board pay raise.

You can also pick up operational tidbits, like depreciating tires over 2 years and treating them like a capital investment (like a vehicle) rather than an item written off and expensed every year. Or how they depreciate trucks and then sell their used trucks and trailer 'for a profit.'

There's insight into rates and market conditions...

 

Just seems odd to me that HTLD hasn't come out yet like maybe there's an issue there. But they do have 75 days from 12-31-2014, I guess... did issue a press release. Dunno.