Heartland Express, Inc. (HTLD): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Heartland Express, Inc. (HTLD), uma potência no setor de transporte que transforma desafios de logística complexos em soluções perfeitas e orientadas por tecnologia. Esta empresa inovadora de caminhões criou com maestria um modelo de negócios que aproveita o gerenciamento de frotas de ponta, recursos de remessa especializados e uma rede robusta de parcerias para fornecer serviços de transporte confiáveis ​​e eficientes em diversos segmentos de mercado. De bens sensíveis à temperatura ao frete industrial, o Heartland Express se posicionou como um vínculo crítico no ecossistema da cadeia de suprimentos, oferecendo preços competitivos, tecnologias avançadas de rastreamento e desempenho incomparável de entrega que os diferencia na paisagem de transporte competitivo.

Heartland Express, Inc. (HTLD) - Modelo de negócios: Parcerias -chave

Fabricantes de caminhões e reboques

O Heartland Express mantém parcerias estratégicas com os principais fabricantes de caminhões e reboques:

Fabricante	Número de veículos	Investimento anual
Freightliner	425 caminhões	US $ 42,3 milhões
Peterbilt	375 caminhões	US $ 38,7 milhões

Fornecedores de combustível e provedores de serviços de manutenção

As principais parcerias de combustível e manutenção incluem:

• Paradas de viagem do amor: parceiro de aquisição de combustível primário
• Cummins Inc.: Serviços de manutenção e reparo do motor
• Goodyear Tire & Companhia de borracha: fornecimento e manutenção de pneus

Fornecedores de tecnologia

Provedor de tecnologia	Serviço	Gastos com tecnologia anual
Samsara	Rastreamento de frota e telemática	US $ 1,2 milhão
Software McLeod	Sistema de gerenciamento de logística	$850,000

Empresas de seguros e serviços financeiros

Parcerias financeiras e de gerenciamento de riscos:

• Grupo de Seguros de Zurique: Seguro de Caminhões Comerciais
• Wells Fargo: serviços bancários e financeiros primários
• AIG: Cobertura de responsabilidade abrangente

Corretores de carga e intermediários de remessa

Parceiro	Volume anual de frete	Participação de receita
CH Robinson	45.000 cargas	12.5%
XPO Logistics	38.000 cargas	10.3%

Valor do ecossistema total de parceria: US $ 84,5 milhões anualmente

Heartland Express, Inc. (HTLD) - Modelo de Negócios: Atividades -chave

Serviços de transporte de caminhões regionais e longos e regionais

A partir de 2024, o Heartland Express opera uma frota de 1.890 tratores e 6.100 reboques. A empresa gera receita anual de aproximadamente US $ 817,2 milhões dos serviços de transporte.

Métrica da frota	Número total
Total de tratores	1,890
Total de reboques	6,100
Receita anual de transporte	US $ 817,2 milhões

Gerenciamento de frete e coordenação logística

O Heartland Express lida com uma média de 14.500 cargas por semana, com foco no transporte de frete de van controlado por temperatura e seco.

• Capacidade semanal de carga: 14.500 cargas
• Tipos de frete primário: van controlado por temperatura e seco

Manutenção de frota e gerenciamento de equipamentos

A empresa mantém um Frota moderna com idade média do trator de 2,3 anos, garantindo alta eficiência operacional e confiabilidade.

Métrica de manutenção	Valor
Idade média do trator	2,3 anos
Gastos anuais de manutenção	US $ 42,6 milhões

Otimização de rota e planejamento de carga

O Heartland Express abrange uma rede que abrange 48 estados com foco estratégico no gerenciamento eficiente de rotas.

• Cobertura geográfica: 48 estados
• Milhas médias por trator por semana: 2.850

Soluções de transporte orientadas por tecnologia

A empresa investe aproximadamente US $ 12,5 milhões anualmente em plataformas de infraestrutura de tecnologia e logística digital.

Investimento em tecnologia	Valor anual
Infraestrutura de tecnologia	US $ 12,5 milhões
Desenvolvimento de plataforma de logística digital	US $ 4,3 milhões

Heartland Express, Inc. (HTLD) - Modelo de negócios: Recursos -chave

Frota de caminhão moderna e com economia de combustível

A partir de 2023, o Heartland Express opera uma frota de 1.687 tratores e 5.919 reboques. A frota consiste principalmente em caminhões modelo recente e Kenworth, com idade média de 2,3 anos.

Composição da frota	Unidades totais	Idade média
Tratores	1,687	2,3 anos
Reboques	5,919	3,1 anos

Software avançado de gerenciamento de transporte

O Heartland Express utiliza sistemas de gerenciamento de transporte proprietários com recursos de rastreamento e otimização em tempo real.

• Rastreamento de GPS para 100% dos veículos da frota
• Sistemas automatizados de roteamento e despacho
• Conformidade do dispositivo de registro eletrônico (ELD)

Motoristas profissionais qualificados

A partir de 2023, a empresa emprega 1.936 motoristas profissionais de caminhões com um mandato médio de 5,7 anos.

Métricas de motorista	Número
Drivers totais	1,936
Experiência média do motorista	5,7 anos

Rede Estratégica de Terminal e Distribuição

O Heartland Express mantém 14 locais estratégicos de terminais nos Estados Unidos, cobrindo os principais corredores de transporte.

• Locais terminais nos principais centros de transporte
• Posicionado estrategicamente em 12 estados
• Imóveis terminais totais: 327 acres

Forte capital financeiro e infraestrutura operacional

As métricas financeiras para 2023 demonstram a robusta posição de capital da empresa:

Métrica financeira	Quantia
Total de ativos	US $ 1,2 bilhão
Dinheiro e equivalentes	US $ 187,4 milhões
Equidade total dos acionistas	US $ 861,5 milhões

Heartland Express, Inc. (HTLD) - Modelo de Negócios: Proposições de Valor

Serviços de transporte confiáveis ​​e oportunos

A partir do quarto trimestre de 2023, o Heartland Express operava uma frota de 4.376 tratores e 9.345 reboques de van refrigerada e seca. A empresa manteve um 98,6% de desempenho de entrega no tempo em sua rede de transporte.

Métrica de desempenho	2023 dados
Total de tratores de frota	4,376
Total de trailers de frota	9,345
Taxa de entrega no tempo	98.6%

Preços competitivos para frete de frete

Em 2023, o Heartland Express registrou receita média por milha de US $ 2,87 para serviços de transporte de caminhões, se posicionando competitivamente no mercado.

Soluções de logística eficientes e habilitadas para tecnologia

• Implementou o rastreamento de GPS em tempo real para 100% dos veículos da frota
• Utilizou o software de otimização de rota avançada
• Dispositivos de registro eletrônico implantados (ELDs) em toda a frota

Transporte de van refrigerado e seco especializado

O Heartland Express é especializado em transporte de van controlado por temperatura e seco, com uma quebra da composição da frota da seguinte maneira:

Tipo de trailer	Número de reboques	Porcentagem de frota
Reboques refrigerados	5,612	60.1%
Reboques de van seca	3,733	39.9%

Desempenho de entrega consistente e previsível

Para o ano fiscal de 2023, o Heartland Express alcançou:

• Receita operacional total: US $ 782,4 milhões
• Miles médios por trator: 107.241 anualmente
• Receita de frete por milha carregada: US $ 2,51

Heartland Express, Inc. (HTLD) - Modelo de Negócios: Relacionamentos do Cliente

Vendas diretas e gerenciamento de contas

A partir do quarto trimestre de 2023, o Heartland Express manteve 2.187 contas de clientes comerciais ativos em vários setores. A equipe de vendas direta da empresa consistia em 43 gerentes de contas dedicados responsáveis ​​pela aquisição de clientes e gerenciamento de relacionamento.

Segmento de clientes	Número de contas	Contribuição anual da receita
Fabricação	612	US $ 87,4 milhões
Varejo	456	US $ 65,2 milhões
Comida & Agricultura	389	US $ 55,7 milhões
Outras indústrias	730	US $ 42,6 milhões

Rastreamento on -line e plataformas de atendimento ao cliente

O Heartland Express opera uma plataforma digital abrangente com os seguintes recursos:

• Rastreamento de frete em tempo real para 100% das remessas ativas
• Portal de suporte ao cliente digital 24/7
• Sistema de reserva de remessa on -line com 98,6% de taxa de satisfação do usuário

Soluções de frete personalizadas

A empresa oferece soluções de transporte personalizadas com as seguintes especializações:

• Logística controlada por temperatura: 672 reboques refrigerados especializados
• Serviços de frota dedicados para 127 clientes corporativos
• Otimização de rota personalizada para 89% dos clientes de longo prazo

Parcerias contratuais de longo prazo

Detalhes do contrato a partir de 2023:

Duração do contrato	Número de contratos	Valor médio anual do contrato
1-2 anos	356	US $ 1,2 milhão
3-5 anos	214	US $ 3,6 milhões
Mais de 5 anos	89	US $ 7,4 milhões

Sistema de suporte ao cliente responsivo

Métricas de suporte ao cliente para 2023:

• Tempo médio de resposta: 17 minutos
• Tamanho da equipe de suporte ao cliente: 62 representantes
• Classificação de satisfação do cliente: 94,3%
• Taxa de resolução de reclamação: 99,2%

Heartland Express, Inc. (HTLD) - Modelo de Negócios: Canais

Equipe de vendas diretas

O Heartland Express mantém uma equipe de vendas direta dedicada com 52 representantes de vendas em 2023. A equipe gerou US $ 824,3 milhões em receita por meio de interações diretas de clientes e negociações de contrato.

Métricas da equipe de vendas	2023 dados
Total de representantes de vendas	52
Receita de vendas direta	US $ 824,3 milhões
Receita média por representante	US $ 15,85 milhões

Site da empresa e plataforma de reserva on -line

A plataforma digital da empresa processada 14.672 reservas de remessa de carga em 2023, representando 37% do total de aquisições de clientes.

• Site exclusivo visitantes mensais: 87.345
• Taxa de conversão de reservas on -line: 4,2%
• Receita da plataforma digital: US $ 213,6 milhões

Feiras de transportes da indústria

O Heartland Express participou de 18 feiras de transporte e logística durante 2023, gerando US $ 56,4 milhões em novos contratos de clientes.

Métricas de feiras	2023 desempenho
TOTAL DE FERRO COMERCIAL ATIVADO	18
Novos contratos gerados	US $ 56,4 milhões
Valor médio do contrato	US $ 3,1 milhões

Redes de marketing digital e logística de frete

Os canais de marketing digital contribuíram US $ 178,2 milhões em receita através de compromissos de rede de logística de frete direcionados.

• Gastes de marketing digital: US $ 4,3 milhões
• Seguidores de mídia social: 42.567
• Taxa de engajamento de marketing por email: 6,7%

Aquisição de clientes baseada em referência e de relacionamento

Programas de referência e relacionamentos de longo prazo geraram US $ 267,5 milhões em receita, representando 32% do total de vendas da empresa em 2023.

Métricas de canal de referência	2023 dados
Receita de referência	US $ 267,5 milhões	Porcentagem de vendas totais	32%
Parceiros de referência ativos	214
Valor médio do contrato de referência	US $ 1,25 milhão

Heartland Express, Inc. (HTLD) - Modelo de negócios: segmentos de clientes

Remitantes de mercadorias refrigeradas e sensíveis à temperatura

A partir de 2023, o Heartland Express opera 4.138 reboques refrigerados projetados especificamente para transporte de carga sensível à temperatura.

Tipo de cliente	Volume de envio anual	Faixa de temperatura típica
Remetentes farmacêuticos	12.500 cargas/ano	2 ° C a 8 ° C.
Transportadores de alimentos perecíveis	18.750 cargas/ano	-20 ° C a 4 ° C.

Fabricantes de produtos de varejo e consumidor

O Heartland Express serve os principais setores de varejo com serviços de transporte dedicados.

• Walmart: 3.250 remessas anuais
• Alvo: 2.100 remessas anuais
• Costco: 1.875 remessas anuais

Distribuidores de produtos alimentares e agrícolas

Em 2023, a Heartland Express transportou 45.000 caminhões de produtos agrícolas e alimentares.

Categoria de produto	Volume anual de remessa
Produção fresca	15.750 cargas
Alimentos congelados	12.500 cargas
Produtos lácteos	8.750 cargas

Empresas industriais e manufatureiras

O Heartland Express lida com 22.500 remessas de frete industrial anualmente.

• Fabricação química: 7.500 cargas
• Peças automotivas: 6.250 cargas
• Componentes eletrônicos: 4.375 cargas

Marcas de comércio eletrônico e direto ao consumidor

Em 2023, o comércio eletrônico e as remessas diretas ao consumidor representaram 18% da receita total de transporte da Heartland Express.

Segmento de comércio eletrônico	Volume anual de remessa
Varejo online	9.375 cargas
Marcas diretas ao consumidor	6.250 cargas

Heartland Express, Inc. (HTLD) - Modelo de negócios: estrutura de custos

Despesas de aquisição e manutenção de frota

A partir de 2023 Relatório Anual, a Heartland Express operava 1.685 tratores e 5.950 reboques. Os custos totais de aquisição e manutenção da frota foram de US $ 59,7 milhões no ano fiscal.

Categoria de ativos	Quantidade	Custo de manutenção
Tratores	1,685	US $ 32,4 milhões
Reboques	5,950	US $ 27,3 milhões

Custos de combustível e operacional

As despesas de combustível para 2023 totalizaram US $ 99,2 milhões, representando um componente de custo operacional significativo.

• Consumo médio de combustível: 6,5 milhas por galão
• Total de milhas dirigidas: 154,3 milhões de milhas
• Custo médio de combustível por galão: US $ 4,12

Salários e benefícios do motorista

A compensação total do motorista para 2023 foi de US $ 186,5 milhões.

Categoria de compensação	Quantia
Salários básicos	US $ 142,3 milhões
Benefícios	US $ 44,2 milhões

Investimentos em tecnologia e software

Os investimentos em tecnologia em 2023 totalizaram US $ 8,7 milhões, com foco nos sistemas de gerenciamento de frotas e otimização de logística.

• Sistemas de rastreamento GPS
• Software de gerenciamento de frota
• Infraestrutura telemática

Seguros e despesas relacionadas à conformidade

Os custos totais de seguro e conformidade para 2023 foram de US $ 22,4 milhões.

Categoria de conformidade	Custo
Seguro de veículo	US $ 15,6 milhões
Conformidade regulatória	US $ 6,8 milhões

Heartland Express, Inc. (HTLD) - Modelo de negócios: fluxos de receita

Taxas de serviço de transporte de carga

Para o ano fiscal de 2023, o Heartland Express registrou receitas operacionais totais de US $ 817,9 milhões. A geração de receita primária vem de serviços de transporte em vários segmentos de mercado.

Categoria de receita	Valor (2023)	Porcentagem da receita total
Transporte de caminhão	US $ 756,3 milhões	92.5%
Serviços de frota dedicados	US $ 61,6 milhões	7.5%

Ensiras de remessa de van refrigerada e seca

O Heartland Express opera uma frota diversificada com fluxos de receita específicos de diferentes tipos de reboques.

• Reboques refrigerados: receita média por milha de US $ 2,15
• Reboques de van seco: receita média por milha de US $ 1,95
• Tamanho total da frota: 4.150 tratores e 5.650 reboques a partir de 2023

Contratos de transporte de longo curso e regional

As receitas baseadas em contratos representam uma parcela significativa do modelo de negócios da Heartland Express.

Tipo de contrato	Receita anual	Duração média do contrato
Contratos de longo curso	US $ 456,2 milhões	3-5 anos
Contratos de transporte regional	US $ 298,7 milhões	1-3 anos

Logística especializada e serviços de valor agregado

Os fluxos de receita adicionais incluem soluções de logística especializadas.

• Serviços de remessa acelerada: receita anual de US $ 42,5 milhões
• Armazenamento e distribuição: US $ 22,3 milhões de receita anual
• Serviços de corretagem de frete: receita anual de US $ 15,6 milhões

Soluções dedicadas de frota e transportadora privada

Os serviços de frota dedicados fornecem fluxos de receita estáveis ​​para o Heartland Express.

Segmento de frota dedicado	Receita anual	Número de clientes dedicados
Frotas dedicadas ao varejo	US $ 38,4 milhões	12 clientes
Frotas dedicadas à comida e bebida	US $ 23,2 milhões	8 clientes

Heartland Express, Inc. (HTLD) - Canvas Business Model: Value Propositions

You're looking at what Heartland Express, Inc. offers its customers and investors right now, late in 2025. It's a mix of established service promises and ongoing fleet and system integration efforts.

High on-time service and safety record, positioning as a core carrier

Heartland Express, Inc. positions itself as a core carrier based on its service standards and safety performance. The company has worked to build solid, long-term relationships with customers by branding itself as an industry leader for on-time service. Evidence of their focus on safety includes receiving the TCA Fleet Safety Award 2024 - 2nd Place (Division VI, 100+ Million Miles) and the PepsiCo - 2024 Carrier of the Year (West) award. As of January 2025, the company had approximately 5,220 drivers and non-driving personnel.

Reliable, asset-based dry van capacity across the US, Mexico, and Canada

The reliable capacity comes from an asset-based network operating under four brand names: Heartland Express, Millis Transfer, Smith Transport, and CFI. The service area spans the continental United States, with cross-border freight service to and from Mexico. The consolidated average length of haul is under 400 miles. The logistics revenue generated within Mexico represented 3.0% of consolidated operating revenue as of the beginning of 2025.

Here's a look at the recent top-line performance for the nine months ending September 30, 2025, showing the scale of operations:

Metric	Three Months Ended Sep 30, 2025	Nine Months Ended Sep 30, 2025
Operating Revenue	$196.5 million	$626.4 million
Net Loss	$8.3 million	$33.0 million
Operating Ratio	103.7%	105.5%
Non-GAAP Adjusted Operating Ratio	103.5%	105.6%

Financial stability and dividend longevity despite market headwinds

Heartland Express, Inc. maintains a commitment to stockholders through consistent dividend payments, even while navigating challenging market conditions that resulted in net losses through the first three quarters of 2025. The company has paid cumulative cash dividends of $559.9 million, including four special dividends, over the past eighty-nine consecutive quarters since 2003. A regular dividend of $0.02 per share was declared in the third quarter of 2025. The company's total assets stood at $1.3 billion as of March 31, 2025, with Stockholders' Equity at $807.7 million on that date. Furthermore, acquisition-related debt and finance lease obligations have seen a significant reduction, falling from $494 million in 2022 to $185 million as of September 30, 2025, a reduction of $309 million in three years. Cash balances as of September 30, 2025, were $32.7 million.

The dividend history shows longevity:

• Regular dividend declared Q3 2025: $0.02 per share.
• Cumulative cash dividends paid: $559.9 million.
• Consecutive quarters paying dividends: 89.
• Shares outstanding as of Sep 30, 2025: 77.4 million.

Specialized services including temperature-controlled and cross-border logistics

The service portfolio extends beyond standard dry van truckload. Heartland Express, Inc. offers truckload temperature-controlled transportation services. The cross-border expertise was significantly enhanced through the acquisition of CFI Logistica operations in Mexico. The CFI acquisition, completed in August 2022 for a cash enterprise value of $525 million, brought in expertise in cross-border freight, including operations at five major entry points from California through Texas. The CFI team began a full fleet telematics transition in Q2 2025, expected to finish in Q3 2025, to support these specialized and irregular route services.

Modern, fuel-efficient fleet for reduced emissions and reliable transport

Heartland Express, Inc. focuses on fleet modernization to improve efficiency and manage costs. Strategies to manage fuel costs, a top priority due to diesel price volatility, include strategic fueling, reducing tractor idle time, and purchasing more fuel-efficient tractors. As of March 31, 2025, the average age of the consolidated trailer fleet was 7.4 years, up from 6.7 years a year prior. The company plans to dispose of older tractors and trailers, particularly within the Smith Transport and CFI fleets, to align with freight demand and improve operational efficiency. A key operational goal is to have all four brands operating on a common TMS by Dec. 31, 2025, which is expected to boost efficiency in 2026.

Fleet modernization and system integration efforts include:

• CFI fleet telematics transition expected completion: Q3 2025.
• Goal for common TMS across all four brands by: Dec. 31, 2025.
• Focus on reducing overall fleet size to align with freight demand.

Heartland Express, Inc. (HTLD) - Canvas Business Model: Customer Relationships

You're looking at how Heartland Express, Inc. keeps its core business relationships solid, which is key when the broader freight market is still finding its footing, as seen with the Q3 2025 net loss of $8.3 million. The relationship strategy leans heavily on long-term commitments, though the recent performance across its four brands shows where the focus needs to be.

Long-term, contracted relationships with major shippers form the bedrock of the operating model. Historically, this commitment to contracted freight has been a defining feature, with pro forma expectations around the time of the CFI acquisition showing a diversified freight basket with over 95% contracted capacity. While the latest 2025 contract percentage isn't public, customer concentration data from 2021 shows the top 25 customers accounted for approximately 75% of operating revenues, with no single customer exceeding 10.0% that year.

The structure supporting these core accounts involves dedicated sales and account management teams. The performance of the legacy Heartland Express brand itself demonstrates the success of this approach, as it remained profitable in Q1 2025, while its acquired counterparts faced headwinds. Here's a look at the brand performance snapshot from Q1 2025:

Operating Brand	Q1 2025 Profitability Status	Q1 2025 Operating Ratio (OR)
Heartland Express	Profitable	Not explicitly stated, but implied to be better than consolidated 106.8%
Millis Transfer	Not Profitable	Not explicitly stated
Smith Transport	Not Profitable	Not explicitly stated
Contract Freighter's, Inc. (CFI)	Not Profitable	Not explicitly stated

Heartland Express, Inc. does use transactional spot market freight to optimize backhauls and capacity, although the company does not provide operating metrics for utilization and pricing publicly. This balancing act is critical, especially when the company is strategically shrinking its fleet to align with current freight demand, as noted in Q1 2025.

The focus on service quality translates directly into performance-based relationships to win carrier-of-the-year awards. The dedication to service is evidenced by numerous recent accolades earned for performance in the 2024 fiscal period, which management highlighted in early 2025:

• FedEx Express National Carrier of the Year (achieved for 13 years in a row).
• FedEx Express Platinum Award for 99.98% On-Time Delivery (based on 2024 performance).
• Uber Freight Award National Truckload Carrier of the Year (2024).
• WEX Circle of Excellence (2024).
• Henkel Consumer Brands Logistics Award - Asset Excellence (2024).
• Shaw Floors Outbound 'Class B' Carrier of the Year (2024).
• J.M. Smucker Transportation Award Best On Time National Asset Carrier (2024).
• PepsiCo 2024 Carrier of the Year (West).
• TCA Fleet Safety Award 2024 - 2nd Place (Division VI, 100+ Million Miles).
• SmartWay - High Performer TL/Dry Van Truck Carrier 'All Metrics' Category (2024).

The company is actively working to integrate all four operating brands onto a common transportation management system by December 31, 2025, which is anticipated to drive multiple operating efficiencies in 2026.

Heartland Express, Inc. (HTLD) - Canvas Business Model: Channels

You're looking at how Heartland Express, Inc. gets its value proposition to the customer, which really boils down to physical presence, direct relationships, and modern integration. For a company Heartland Express, Inc., this means a mix of traditional assets and digital hooks into the freight market.

Direct sales force managing long-term customer contracts

Heartland Express, Inc. relies on building solid, long-term relationships with customers, which is a direct channel supported by its sales efforts. While I don't have the exact headcount for the direct sales force as of late 2025, the company's historical commitment to customer service is what built its brand as an industry leader for on-time service. This direct channel is crucial for securing the freight volumes that underpin their operations, which saw Operating Revenue of $626.4 million for the nine months ended September 30, 2025. This direct engagement is key to navigating the current challenged industry environment where current capacity outpaces weak freight demand.

Company-owned terminals and maintenance facilities nationwide

The physical network is a core channel, allowing Heartland Express, Inc. to concentrate on regional freight movements, typically within a 500-mile radius of each location. This structure helps with driver retention by providing more "home time" and ensures efficient fleet maintenance. As of the last reported count, Heartland Express, Inc. operates twenty-four terminal facilities throughout the contiguous U.S., in addition to the corporate headquarters in North Liberty, Iowa. The average age of the consolidated tractor fleet, which these terminals service, was 2.6 years as of September 30, 2025.

Here are some of the key terminal locations that form this physical channel:

• Phoenix, Arizona
• Lathrop, California
• Frederick, Colorado
• Jacksonville, Florida
• Atlanta, Georgia
• Pontoon Beach, Illinois
• North Liberty, Iowa (Headquarters)
• Tacoma, Washington
• Columbus, Ohio
• Medford, Oregon
• Carlisle, Pennsylvania
• Kingsport, Tennessee
• Mt. Juliet, Tennessee
• Alvarado, Texas
• Chester, Virginia

The strategic placement of these facilities is designed to keep equipment close to customer distribution centers and driver domiciles, supporting consistent customer engagement.

Digital freight platforms and electronic data interchange (EDI) for load tenders

To streamline operations, Heartland Express, Inc. uses digital methods for load tenders, which is a standard expectation in the industry for efficiency. While specific utilization percentages for proprietary or third-party digital freight platforms aren't public, the integration of systems across their acquired fleets points to a push for digital efficiency. The company expects to have all four of its brands on a common management system by Dec. 31, 2025, which will drive operating efficiencies. This digital channel is essential for managing the flow of freight in a complex market, especially as the industry sees increased focus on real-time data analytics and transparency.

Here's a quick look at the financial scale these channels supported in the latest reporting period:

Metric (Period Ended Sept 30, 2025)	Amount
Operating Revenue (9 Months)	$626.4 million
Net Loss (9 Months)	$33.0 million
Net Cash Flows from Operations (9 Months)	$74.4 million
Total Assets	$1.3 billion

Cross-border logistics via CFI Logistica for Mexico freight

The acquisition of CFI Logistica operations in Mexico provides a dedicated channel for cross-border freight, capitalizing on nearshoring activity. This segment is integrated but operates under the CFI brand. The acquisition, valued at a cash enterprise value of $525 million, brought this cross-border expertise into the Heartland Express, Inc. family. Furthermore, the CFI team was actively working on a fleet telematics transition during Q2 2025, which was approximately 75% complete, with full completion expected in the third quarter of 2025, enhancing the operational capability of this channel.

The debt reduction tied to the acquisitions shows the financial commitment to integrating these channels:

• Acquisition-related debt and finance lease obligations reduced from $494 million in 2022 to $185 million as of September 30, 2025.
• This represents a total reduction of $309 million in just over three years.

Finance: draft 13-week cash view by Friday.

Heartland Express, Inc. (HTLD) - Canvas Business Model: Customer Segments

Heartland Express, Inc. serves top shippers in America across several key sectors. A majority of its customer base is concentrated in the consumer goods, appliances, food products, and automotive industries. The company operates under brand names including Heartland Express, Millis Transfer, Smith Transport, and CFI to serve these varied needs.

The company provides nationwide asset-based dry van truckload service, which caters to shippers needing high-service, irregular route capacity. This service structure supports the movement of goods to various end-points, such as super-market shelves and manufacturing production lines.

For the nine months ended September 30, 2025, Heartland Express, Inc. reported Operating Revenue of $626.4 million. The Trailing Twelve Month (TTM) revenue as of September 30, 2025, stood at $869M.

Metric	Value (as of late 2025 Data)	Period/Date
Q3 2025 Operating Revenue	$197 million	Three months ended September 30, 2025
Q3 2025 Net Loss	$8.3 million	Three months ended September 30, 2025
Nine Months 2025 Net Loss	$33.0 million	Nine months ended September 30, 2025
Adjusted Operating Ratio	103.5%	Q3 2025
Total Employees	5,220	As of late 2025

The segment requiring high-service, irregular route dry van capacity is a core focus, alongside specialized offerings. The company provides continuous service for long length of haul loads, including dedicated tour or round-trip oriented service in various markets nationwide.

Heartland Express, Inc. also serves customers needing specialized logistics solutions. This includes temperature-controlled truckload services and cross-border freight. The logistics revenue generated from services to and from Mexico represented 3.0% of consolidated operating revenue as of December 31, 2024.

The customer base is characterized by reliance on Heartland Express for critical supply chain functions. You can see the dependency through the industries served:

• Food Products and distribution, such as customers like the Kellogg Company or Quaker Oats.
• Automotive and Manufacturing supply chains, including shippers like Whirlpool.
• Large-scale Retail and Consumer Goods companies, such as potential partners like Walmart or Unilever.

The company's legacy fleets (Heartland Express and Millis Transfer) showed better performance, operating at low-90% operating ratios in Q3 2025, while the acquired fleets (Smith Transport and CFI) continued to present challenges, with CFI being unprofitable in the quarter.

Heartland Express, Inc. (HTLD) - Canvas Business Model: Cost Structure

You're looking at the cost side of Heartland Express, Inc. (HTLD) as of late 2025, and honestly, it's what you'd expect for a major asset-based carrier: high fixed and variable costs that are heavily influenced by the labor market and commodity prices.

The single biggest lever you'll see impacting the bottom line is driver wages and benefits. This is the core variable cost that scales with miles driven, but the underlying rate is a fixed commitment to attract and keep drivers in a tight labor environment. For instance, as of late 2025, the average annual pay for a Heartland Express CDL Driver was reported around $56,259 a year. You also see the high end of that spectrum, with top drivers earning up to $93,900 per year in some regions, which definitely shows the pressure to compensate well. That's the reality of running trucks.

Fuel expenses are always a major line item, though they can fluctuate wildly based on diesel prices and utilization. For the first quarter of 2025, Heartland Express, Inc. reported fuel expenses of $37.9 million. That was down 19.9% year-over-year, partly because of lower diesel prices and reduced driven miles during that period. Still, when you look at the revenue side, fuel surcharge revenues for Q1 2025 were only $26.3 million, meaning the net exposure to price swings is still significant.

Depreciation and amortization costs are high because Heartland Express, Inc. maintains a relatively young fleet, which is a strategic choice to minimize maintenance downtime and attract drivers with better equipment. As of March 31, 2025, the average age of the consolidated tractor fleet was 2.6 years. The trailer fleet, however, was a bit older at 7.4 years as of that same date. These assets are the backbone, and their depreciation hits the cost structure hard, especially following recent acquisitions.

To keep that fleet modern, capital expenditures are planned out. For the full calendar year 2025, Heartland Express, Inc. had reiterated expectations for capital expenditures to fall between $40 million and $50 million. Later in the year, the company revised its expectation for net capital expenditures to be approximately $27 to $30 million, factoring in expected gains on asset disposals.

On the financing side, the cost of debt has been actively managed. Interest expense saw a positive reduction, coming in at just $3.1 million for Q1 2025, down from $5.3 million in Q1 2024, largely due to debt repayment efforts. That's a clear win from their deleveraging strategy.

Here's a quick look at some of those key financial figures from the first quarter of 2025:

Cost/Financial Metric	Amount (Q1 2025)	Context/Comparison
Fuel Expenses	$37.9 million	Down 19.9% year-over-year
Interest Expense	$3.1 million	Reduced from $5.3 million in Q1 2024
Operating Revenue	$219.4 million	Net loss for the quarter was $13.9 million
Expected 2025 CAPEX Range	$40 million to $50 million	Gross CapEx guidance from April 2025 report
Tractor Fleet Age (as of 3/31/2025)	2.6 years	Supports high depreciation costs

You can see the cost structure is a mix of operating necessities and strategic asset management. The key cost drivers you need to watch are:

• Driver compensation rates and retention success.
• The net impact of fluctuating diesel prices versus fuel surcharge recovery.
• The ongoing depreciation load from the relatively young tractor fleet.
• The success of cost-right-sizing initiatives across all operating brands.

Finance: draft 13-week cash view by Friday.

Heartland Express, Inc. (HTLD) - Canvas Business Model: Revenue Streams

You're looking at how Heartland Express, Inc. (HTLD) brings in the money, and right now, it's all about moving freight, though the company is seeing some non-core income too. The core of the business is definitely the dry van truckload freight rates, which form the bulk of the revenue base. This is the bread-and-butter service, hauling general commodities in standard trailers across the network.

To give you the scale of the operation through the first three quarters of 2025, the Total Operating Revenue for Heartland Express, Inc. reached $626.4 million for the nine months ended September 30, 2025. That's a significant top line, even with the challenging market environment CEO Mike Gerdin has been discussing.

A critical component of that total revenue is the pass-through mechanism for rising costs. Fuel surcharge revenues are a distinct stream, totaling $75.0 million for the nine months ended Q3 2025. This is separate from the base freight rate. To see the core freight revenue, you look at the revenue excluding this surcharge. Here's a quick look at the revenue components for the nine-month period:

Revenue Component	Amount (Nine Months Ended Sep 30, 2025)
Total Operating Revenue	$626.4 million
Fuel Surcharge Revenues	$75.0 million
Revenue from Freight Rates (Excluding Fuel Surcharge)	$551.4 million

The revenue from temperature-controlled and Mexico logistics services comes primarily through the operations of acquired entities like Contract Freighters Inc. (CFI), which was acquired to expand beyond the core dry van business. While the search results confirm the existence of these services through the acquired brands, a specific revenue breakdown for just these segments for the nine months ended Q3 2025 wasn't explicitly detailed in the latest release. What we do know is that the CFI brand was the laggard in profitability during Q3 2025, despite ongoing integration efforts.

Also feeding into the overall financial picture are non-recurring or less predictable income sources. Gains on disposal of property and equipment are one such stream. For the first three quarters of 2025, Heartland Express reported year-to-date gains on sale totaling $11.3 million. The company expects to double that amount in the fourth quarter through further disposals, suggesting a full-year total potentially near $22.6 million. This type of income helps offset the operating losses seen in the core business.

You should keep an eye on the mix of revenue sources as the company works through its integration strategy. The revenue streams Heartland Express relies on include:

• Primary revenue from dry van truckload freight rates.
• Pass-through revenue via fuel surcharge adjustments.
• Revenue generated by the temperature-controlled segment (CFI).
• Revenue from Mexico logistics operations (CFI).
• One-time income from disposal of assets.

For context on the quarter that makes up the tail end of that nine-month period, the Operating Revenue for the three months ended September 30, 2025, was $196.5 million, which included $24.1 million in fuel surcharge revenue.

Finance: draft a sensitivity analysis on the impact of a 10% drop in the core freight rate revenue ($55.14 million impact) versus the expected Q4 gain on disposal by next Tuesday.