Heartland Express revenues fall 16% in Q1

The trucking company increased earnings per share 25% year-over-year, but still fell short of analyst estimates, according to investment advisor Stifel.    Operating revenues the trucking company Heartland Express decreased 16 percent to $188 million in the first quarter of 2015 compared with the first quarter of 2014, according to a statement from industry investment advisory firm Stifel.  Excluding fuel surcharges, revenues only decreased 10 percent year-over-year to $161 million in Q1 2015. 
   Stifel said it expects volumes were down 13-15 percent for the quarter, with revenue yield likely up 3-5 percent compared with Q1 2014.
   Heartland Express reported earnings per share of $0.20, a 25 percent increase from the same period the previous year, but still $0.01 below Stifel’s EPS estimate and $0.02 below Wall Street consensus.
   “Unfortunately, despite many attempts to better gauge depreciation rates, the company continues to over-depreciate its equipment and understate its operating income before gain on sale,” said Stifel.
   Heartland’s balance sheet remains strong, however, and “the company now finds itself in a strong position to continue its aggressive fleet upgrade program, to opportunistically buy its common shares on the open market, and/or to increase its regular dividend or to pay another special dividend,” Stifel added.