HEARTLAND EXPRESS INC

Heartland Express, Inc. operates as a holding company that owns and manages several transportation subsidiaries including Heartland Express of Iowa, Millis Transfer, Smith Transport, and Contract Freighters (CFI), which was integrated and rebranded into Heartland Express effective December 31, 2025. The company trades on the NASDAQ under the ticker symbol HTLD and maintains its corporate headquarters and website at www.heartlandexpress.com.

The company provides short, medium, and long-haul truckload transportation services primarily across the United States, with consolidated average length of haul under 400 miles. Heartland Express specializes in asset-based dry van truckload service for major shippers, complemented by temperature-controlled transportation services and Mexico logistics services through third-party partnerships. Approximately 77 percent of loads transported are less than 500 miles in length, positioning the company as a specialist in the short-to-medium haul market where single drivers can typically handle loads directly from origin to destination.

The company operates twenty-five terminal facilities throughout the contiguous United States plus one in Mexico, strategically located near major shipping corridors and within 200 miles of the thirty largest metropolitan areas. This geographic positioning supports driver recruiting and retention while enabling efficient fleet maintenance and customer engagement. Heartland Express generated total revenues of $805.7 million in 2025, representing significant growth from $21.6 million in 1986 when the company went public.

The company's customer base includes retailers, manufacturers, and parcel carriers, with the twenty-five largest customers accounting for approximately 63 percent of operating revenues in 2025. The company maintains a modern fleet of predominantly company-owned tractors and trailers, with average tractor age of 2.6 years and average trailer age of 7.3 years as of December 31, 2025. All over-the-road tractors are equipped with event recorders, accident avoidance technology, and mobile communication systems compliant with electronic log device regulations.

As of January 2026, the company employed approximately 3,630 drivers and non-driving personnel. The company also operates two driver training institutes, Millis Training Institute and Heartland Training Institute, dedicated to identifying and developing professional truck drivers. Heartland Express has completed ten acquisitions since 1986, with the most recent being CFI in August 2022 and Smith Transport in May 2022.