HTLD on Nasdaq

Heartland Express

Logo: Heartland Express, Public domain, via Wikimedia Commons5

American trucking company

Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.3 Its shares trade on Nasdaq under the symbol HTLD.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

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  • TickerHTLD on Nasdaq1
  • IndustryTrucking (No Local)1
  • HeadquartersNorth Liberty1
  • Websitewww.heartlandexpress.com
  • Legal formpublic company1
  • Incorporated inNV6
  • Business address901 Heartland Way, North Liberty, Ia 523176
  • Filer categoryAccelerated filer6
  • LEI5299005V45FZIQGLOG394
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered address901 N Kansas Ave, 52317 North Liberty, United States4
  • Registered withBusiness Center (Secretary of State), NV198610148754

Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-7.1%Operating margin8
-6.5%Net margin8
-23.1%Revenue growth, 20258
-6.9%Return on equity8
0.20×Debt to equity8
-$66.9MFree cash flow8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs98¢$790.0M
  • Income tax2¢$15.7M

Out of $805.7M in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending90¢$156.2M
  • Dividends paid4¢$6.2M
  • Share buybacks6¢$10.4M

Out of $89.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8

Financial statements

Revenue91011128$805.7M in 2025+35% since 2019
0$500.0M$1.0B$1.5B2019: $596.8M$596.8M20192020: $645.3M$645.3M2020+8%2021: $607.3M$607.3M2021−6%2022: $968.0M$968.0M2022+59%2023: $1.2B$1.2B2023+25%2024: $1.0B$1.0B2024−13%2025: $805.7M$805.7M2025−23%
Operating income91011128-$57.4M in 2025
-$100.0M0$100.0M$200.0M2019: $94.3M$94.3M20192020: $93.4M$93.4M2020−1%2021: $105.4M$105.4M2021+13%2022: $188.4M$188.4M2022+79%2023: $42.4M$42.4M2023−77%2024: -$20.2M-$20.2M20242025: -$57.4M-$57.4M2025+184%
Net income91011128-$52.5M in 2025
-$100.0M-$50.0M0$50.0M$100.0M$150.0M2019: $73.0M$73.0M20192020: $70.8M$70.8M2020−3%2021: $79.3M$79.3M2021+12%2022: $133.6M$133.6M2022+69%2023: $14.8M$14.8M2023−89%2024: -$29.7M-$29.7M20242025: -$52.5M-$52.5M2025+76%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
OPERATING REVENUE$805.7M$1.0B$1.2B
Salaries, wages and benefits$329.2M$427.7M$474.8M
Rent and purchased transportation$51.7M$80.1M$112.7M
Fuel$135.2M$177.2M$212.2M
Operations and maintenance$62.9M$70.8M$63.4M
Operating taxes and licenses$17.3M$20.4M$21.8M
Insurance and claims$57.9M$50.9M$45.3M
Communications and utilities$8.6M$9.4M$10.5M
Depreciation and amortization$159.2M$181.5M$199.0M
Impairment of trade name$19.0M$0$0
Other operating expenses$45.7M$57.2M$66.4M
Gain on disposal of property and equipment-$23.4M-$7.5M-$41.1M
Total operating expenses$863.1M$1.1B$1.2B
Operating income-$57.4M-$20.2M$42.4M
Interest income$774.0K$1.1M$1.7M
Interest expense-$11.5M-$17.6M-$24.2M
Income before income taxes-$68.1M-$36.7M$19.9M
Federal and state income tax expense-$15.7M-$7.0M$5.1M
Net Income-$52.5M-$29.7M$14.8M
Other comprehensive income, net of tax$0$0$0
Comprehensive income-$52.5M-$29.7M$14.8M
Basic-$0.67-$0.38$0.19
Diluted-$0.67-$0.38$0.19
Basic77.9M shares78.7M shares79.0M shares
Diluted77.9M shares78.8M shares79.1M shares
Dividends declared per share$0.08$0.08$0.08

Compare Heartland Express with another company

Corporate structure

Heartland Express sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Heartland Express

  • Heartland Express North Liberty, Iowa, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Heartland Express reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$119.8M8 Dec 31, 2025$120.4M8 Dec 31, 2024−0.5%
Buildings and improvements$171.5M8 Dec 31, 2025$150.6M8 Dec 31, 2024+13.9%
Machinery and equipment$20.4M8 Dec 31, 2025$21.1M8 Dec 31, 2024−3.7%
Furniture and fixtures$6.7M8 Dec 31, 2025$6.8M8 Dec 31, 2024−2.0%
Construction in progress$1.3M8 Dec 31, 2025$9.2M8 Dec 31, 2024−85.4%
Property and equipment, before depreciation$1.1B8 Dec 31, 2025$1.3B8 Dec 31, 2024−10.5%
Accumulated depreciation$481.5M8 Dec 31, 2025$519.6M8 Dec 31, 2024−7.3%
Property and equipment, net$667.2M8 Dec 31, 2025$764.4M8 Dec 31, 2024−12.7%
Operating-lease assets (leased space)$1.6M8 Dec 31, 2025$7.9M8 Dec 31, 2024−79.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$18.5M8 Dec 31, 2025$12.8M8 Dec 31, 2024+44.2%
Debt securities held to maturity$200.0K8 Dec 31, 2025$900.0K8 Dec 31, 2024−77.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$322.6M8 Dec 31, 2025$322.6M8 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$69.5M8 Dec 31, 2025$93.5M8 Dec 31, 2024−25.7%
Finite-lived intangibles, gross$94.6M8 Dec 31, 2025$94.6M8 Dec 31, 20240%
Accumulated amortization$37.7M8 Dec 31, 2025$32.7M8 Dec 31, 2024+15.4%
Finite-lived intangibles, net$56.9M8 Dec 31, 2025$61.9M8 Dec 31, 2024−8.1%

Properties, in its own words

Our corporate headquarters is located in North Liberty, Iowa which is located on Interstate 380 near the intersection of Interstates 380 and 80. The headquarters is located on 33 acres of land along the Cedar Rapids/Iowa City business corridor and includes a 65,000 square foot office building and a 32,600 square foot shop and maintenance building.

The following table provides information regarding our terminal facilities with shop and maintenance, fueling services or other significant operations:

The rest of Item 2

Company Location · Office · Shop · Fuel · Owned or Leased

Albany, Georgia · No · Yes · No · Owned

Alvarado, Texas (2) · Yes · Yes · Yes · Owned

Atlanta, Georgia · Yes · Yes · Yes · Owned

Black River Falls, Wisconsin · Yes · Yes · No · Owned

Carlisle, Pennsylvania · Yes · Yes · Yes · Owned

Cartersville, Georgia · Yes · Yes · Yes · Owned

Chester, Virginia · Yes · Yes · Yes · Owned

Columbus, Ohio · Yes · Yes · Yes · Owned

Eden, North Carolina · Yes · Yes · No · Owned

Frederick, Colorado · Yes · Yes · Yes · Owned

Jacksonville, Florida · Yes · Yes · Yes · Owned

Joplin, Missouri · Yes · Yes · Yes · Owned

Kingsport, Tennessee · Yes · Yes · Yes · Owned

Laredo, Texas · Yes · Yes · Yes · Owned

Medford, Oregon · Yes · Yes · Yes · Owned

Mt. Juliet, Tennessee · Yes · Yes · Yes · Owned

North Liberty, Iowa (1) · Yes · Yes · Yes · Owned

Nuevo Laredo, Mexico · Yes · No · No · Owned

Phoenix, Arizona · Yes · Yes · Yes · Owned

Pontoon Beach, Illinois · Yes · Yes · No · Owned

Richfield, Wisconsin · Yes · Yes · No · Owned

Ridgeway, Virginia · Yes · No · Yes · Owned

Roaring Spring, Pennsylvania · Yes · Yes · Yes · Owned

Sanford, Florida · Yes · No · No · Owned

Tacoma, Washington · Yes · Yes · Yes · Owned

Trenton, Ohio · Yes · Yes · No · Owned

West Memphis, Arkansas · Yes · No · Yes · Owned

(1) Corporation headquarters.

(2) Two separate facilities with one currently occupied.

Item 2 of the 10-K filed Mar 3, 2026.16

The story

Heartland Express was founded in 1978 by Russell A. Gerdin.

Heartland Express went public in 1986. By 1988, the company had a fleet of more than 300 tractors and a net income of more than $5 million.

Heartland Express acquired Illinois-based Munson Transportation in 1994, doubling the size of the company. By the end of the following year, the company reported a net income of more than $20.5 million.

In 2013, Heartland Express purchased Gordon Trucking for $300 million. The acquisition made the company the fifth-largest asset-based trucking company in the United States.

In 2017, the company acquired Interstate Distributor from Saltchuk for $113 million. Heartland express acquired Millis Transfer in 2019 for $150 Million.

In 2022, Heartland Express acquired Smith Transport for $170 million. The company acquired the trucking assets of Contract Freighters, Inc. (CFI) from TFI International for $525 million later the same year.

From Wikipedia’s article on Heartland Express, shared under CC BY-SA 4.0.7

Leadership

Who has led Heartland Express, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (23)

Products and brands

Heartland Express offers long-haul, regional, and dedicated truckload services. As of 2025, the company operates terminals in fourteen U.S. states.

From Wikipedia’s article on Heartland Express, shared under CC BY-SA 4.0.7

Timeline

  1. Sep 17, 20268-K Other events46
  2. Sep 2, 20268-K Executive or director change47
  3. Aug 5, 20268-K Results of operations48
  4. Jun 17, 20268-K Other events49
  5. May 19, 20268-K Executive or director change50
  6. May 15, 20268-K Shareholder vote51
  7. Apr 27, 20268-K Results of operations52
  8. Apr 22, 20268-K Executive or director change53
  9. Mar 31, 20268-K Executive or director change54
  10. Mar 18, 20268-K Other events55
  11. Feb 9, 20268-K Results of operations56
  12. Jan 7, 20268-K Executive or director change57
  13. Dec 2, 2011New chief executive Michael J. Gerdin becomes CEO17
  14. Feb 3, 2006New chief executive Russell A. Gerdin becomes CEO18
  15. 1986Went public Listed on NASDAQ1

Calendar

Coming up

  1. Oct 30, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.11) a share, on Oct 31, 2025.58

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results48
  2. Apr 27, 2026Reported quarterly or annual results52
  3. Feb 9, 2026Reported quarterly or annual results56
  4. Nov 6, 2025Reported quarterly or annual results59
  5. Jul 29, 2025Reported quarterly or annual results60
  6. May 2, 2025Reported quarterly or annual results61
  7. Feb 3, 2025Reported quarterly or annual results62
  8. Oct 29, 2024Reported quarterly or annual results63

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

261 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 71 major events, 119 insider forms, 26 large holders, 24 other. The latest 20:

  1. Sep 17, 20268-K EDGAR
  2. Sep 2, 20264 EDGAR
  3. Sep 2, 20268-K EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 10, 202610-Q EDGAR
  6. Aug 5, 20268-K EDGAR
  7. Jun 17, 20264 EDGAR
  8. Jun 17, 20268-K EDGAR
  9. Jun 12, 20264 EDGAR
  10. May 21, 20264 EDGAR
  11. May 21, 20264 EDGAR
  12. May 19, 20268-K EDGAR
  13. May 18, 20264 EDGAR
  14. May 18, 20264 EDGAR
  15. May 18, 20264 EDGAR
  16. May 18, 20264 EDGAR
  17. May 18, 20264 EDGAR
  18. May 15, 20268-K EDGAR
  19. May 14, 20263 EDGAR
  20. May 11, 202610-Q EDGAR

The 261 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

80 open-market trades by officers, directors and large owners since October 2021: 79 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2026Millis David PaulDirectorSale31,402$15.67$492.1KForm 4
Jun 10, 2026SPALDING DAVID PDirectorBuy2,000$15.69$31.4KForm 4
Aug 18, 2025GERDIN MICHAEL JChief Executive OfficerBuy24,798$8.19$203.1KForm 4
Aug 15, 2025GERDIN MICHAEL JChief Executive OfficerBuy3,888$8.20$31.9KForm 4
Aug 14, 2025GERDIN MICHAEL JChief Executive OfficerBuy1,314$8.20$10.8KForm 4
May 14, 2025PRATT JAMES GDirectorBuy6,571$8.96$58.9KForm 4
May 12, 2025Hupfeld AmandaDirectorBuy2,000$8.76$17.5KForm 4
May 12, 2025Janssen Angela KBuy167,644$8.95$1.5MForm 4
May 9, 2025GERDIN MICHAEL JChief Executive OfficerBuy148,272$8.50$1.3MForm 4
May 8, 2025Janssen Angela KBuy100,149$8.23$824.2KForm 4
May 7, 2025Janssen Angela KBuy148,272$7.70$1.1MForm 4
May 6, 2025Janssen Angela KBuy148,272$7.60$1.1MForm 4
May 5, 2025GERDIN MICHAEL JChief Executive OfficerBuy148,272$7.85$1.2MForm 4
Nov 18, 2024Janssen Angela KBuy49,506$12.24$606.0KForm 4
Nov 12, 2024GERDIN MICHAEL JChief Executive OfficerBuy1,683$11.99$20.2KForm 4
Nov 8, 2024GERDIN MICHAEL JChief Executive OfficerBuy35,960$11.97$430.4KForm 4
Nov 7, 2024GERDIN MICHAEL JChief Executive OfficerBuy10,951$11.99$131.3KForm 4
Nov 6, 2024GERDIN MICHAEL JChief Executive OfficerBuy5,210$11.49$59.9KForm 4
Nov 4, 2024GERDIN MICHAEL JChief Executive OfficerBuy63,074$10.95$690.7KForm 4
Sep 11, 2024GERDIN MICHAEL JChief Executive OfficerBuy50,000$11.67$583.5KForm 4

All 80 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Mr. Michael J. GerdinChief Executive Officer, Chairman, President and Director56$1.1M71
2025Mr. Christopher A. StrainVice President of Finance, Treasurer, and Chief Financial Officer$364.0K$392.4K71
2025Mr. Kent D. RigdonChief Operating Officer$327.6K$345.1K71
2025Mr. Joshua S. HelmichChief Administrative Officer and Secretary$286.0K$311.4K71
2025Mr. David P. MillisDirector and Millis Transfer President65$190.4K$294.8K71
2024Mr. Michael J. GerdinChief Executive Officer, Chairman, President and Director56$1.1M71
2024Mr. Christopher A. StrainVice President of Finance, Treasurer, and Chief Financial Officer$372.9K71
2024Mr. Kent D. RigdonChief Operating Officer$343.3K71
2024Mr. Joshua S. HelmichChief Administrative Officer and Secretary$298.8K71
2024Mr. David P. MillisDirector and Millis Transfer President65$190.8K$295.7K71
2023Mr. Michael J. GerdinChief Executive Officer, Chairman, President and Director56$1.0M71
2023Mr. Kent D. RigdonChief Operating Officer$334.4K71
2023Mr. Christopher A. StrainVice President of Finance, Treasurer, and Chief Financial Officer$331.2K71
2023Mr. David P. MillisDirector and Millis Transfer President65$177.0K$328.5K71

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,867,465$104.5M0.0%+76,125
Dimensional Fund Advisors LP4,003,566$60.9M0.0%+129,913
Vanguard Capital Management LLC2,067,376$31.5M0.0%−175,056
State Street Corp1,979,911$30.2M0.0%−85,955
American Century Companies Inc1,735,169$26.4M0.0%−95,174
Arrowstreet Capital, Limited Partnership1,374,534$20.9M0.0%+785,724
Two Sigma Investments, LP1,371,702$20.9M0.0%−68,432
Geode Capital Management, LLC1,174,602$17.9M0.0%−9,356
Ameriprise Financial Inc1,096,054$16.7M0.0%+112,563
Charles Schwab Investment Management Inc973,500$14.8M0.0%−116,050
Wallace Capital Management Inc.965,007$14.7M1.6%−6,060
Vanguard Portfolio Management LLC819,448$12.5M0.0%+7,804
Bridgeway Capital Management, LLC533,534$8.1M0.1%+25,740
Morgan Stanley493,746$7.5M0.0%+23,029
Goldman Sachs Group Inc491,186$7.5M0.0%−139,495
Citadel Advisors LLC485,506$7.4M0.0%+436,333
EVR Research LP480,000$7.3M3.6%+150,000
Frontier Capital Management Co LLC468,578$7.1M0.1%New
Dean Investment Associates, LLC458,623$7.0M0.9%+110,092
Northern Trust Corp444,818$6.8M0.0%−4,467
Nuveen, LLC432,034$6.6M0.0%+310,247
Aqr Capital Management LLC380,401$5.8M0.0%−21,862
Russell Investments Group, Ltd.358,005$5.4M0.0%+256,159
Empowered Funds, LLC356,418$5.4M0.0%+25,740
Invesco Ltd.350,290$5.3M0.0%−74,594

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 26, 2024Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+57.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Heartland Express is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHEARTLAND EXPRESS INC2
  • CIK0000799233
  • Employer ID (EIN)93-092699916
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company16
  • Incorporated inNevada16
  • Fiscal year endsDecember 312
  • Industry code (SIC)4213 Trucking (No Local)2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address901 Heartland Way, North Liberty, IA 523172
  • Phone31964570602
  • Shares outstanding77,332,611 as of Aug 6, 202614
  • Public float$366.4M as of Jun 30, 202516
  • AuditorGRANT THORNTON LLP, Tulsa, Oklahoma PCAOB ID 248; it also attests to the company’s internal control over financial reporting16
  • On EDGAR sinceMay 12, 19952
  • Filings1,074 in all: 4 (333), 8-K (289), 10-Q (96), SC 13G/A (88), SC 13D/A (48), DEF 14A (32), 10-K (31), SC 13G (24)2
    All 31 form types

    3 (23), 5 (23), UPLOAD (17), DEFA14A (16), CORRESP (10), SCHEDULE 13G/A (6), 8-K/A (5), ARS (5), SC 13D (4), 424B1 (3), S-3 (3), 10-C (2), 10-K/A (2), 4/A (2), PRE 14A (2), S-3/A (2), S-3ASR (2), 10-Q/A (1), 424B4 (1), 424B5 (1), EFFECT (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 3, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Sep 17, 2026

Securities registered for trading

ClassSymbolExchange
HTLDNASDAQ

From the cover page of the 10-K filed Mar 3, 2026 (Section 12(b) of the Exchange Act).16

Risk factors and legal proceedings

The risks Heartland Express names in Item 1A of its 10-K filed Mar 3, 2026: 30 risks under these headings, as written.16

  • STRATEGIC RISKS
  • We may not maintain our current level of operations, and any decrease in revenues, increase in losses, or inability to improve our profitability may impair our ability to implement our business strategy, which could have a materially adverse effect on our results of operations.
  • We operate in a highly competitive and fragmented industry, and numerous competitive factors could impair our ability to improve our profitability, limit growth opportunities, and could have a materially adverse effect on our results of operations.
  • We may not make acquisitions in the future, or if we do, we may not be successful in integrating the acquired company, either of which could have a materially adverse effect on our business.
  • Global conflicts could adversely impact our business and financial results.
  • OPERATIONAL RISKS
  • Increases in driver compensation or difficulties in attracting and retaining qualified drivers may have a materially adverse effect on our profitability and the ability to maintain or grow our fleet.
  • We are dependent on major customers, the loss of one or more of which could have a materially adverse effect on our business.
  • Our acquisition of CFI and integration and rebranding of the U.S. operations of CFI into Heartland Express present certain additional risks to our business and operations.
  • If fuel prices increase significantly, our results of operations could be adversely affected.
  • We depend on the proper functioning and availability of our management information and communication systems and other technology assets (and the data contained therein) and a system failure or unavailability, including those caused by cybersecurity breaches internally or with third parties, or an inability to effectively upgrade such systems and assets, including operating system integration of acquired companies, could cause a significant disruption to our business and have a materially adverse effect on our results of operations.
  • If we are unable to retain our key employees or find, develop and retain a core group of managers, our business, financial condition, and results of operations could be materially adversely affected.
The other 20 risks
  • Seasonality and the impact of weather and climate change and other catastrophic events affect our operations and profitability.
  • The effects of a widespread outbreak of an illness or disease, or any other public health crisis, as well as regulatory measures implemented in response to such events, could negatively impact the health and safety of our workforce and/or adversely impact our business, results of operations, financial condition, and cash flows.
  • COMPLIANCE RISKS
  • We self-insure for a significant portion of our claims and have exposure outside of our insurance coverage, which could significantly increase the volatility of, and decrease the amount of, our earnings.
  • We operate in a highly regulated industry, and changes in existing regulations or violations of existing or future regulations could have a materially adverse effect on our operations and profitability.
  • Developments in labor and employment law and any unionizing efforts by employees or employees of related businesses could have a materially adverse effect on our results of operations.
  • The CSA program adopted by the FMCSA could adversely affect our profitability and operations, our ability to maintain or grow our fleet, and our customer relationships.
  • Receipt of an unfavorable DOT safety rating could have a materially adverse effect on our operations and profitability.
  • Ineffective internal controls could have a negative impact on our business, results of operations, and our reputation.
  • Compliance with various environmental laws and regulations may increase our costs of operations and non-compliance with such laws and regulations could result in substantial fines or penalties.
  • Changes to trade regulation, quotas, duties, export restrictions, or tariffs, caused by the changing U.S. and geopolitical environments or otherwise, may increase our costs and materially adversely affect our business.
  • Litigation may adversely affect our business, financial condition, and results of operations.
  • Conflicting views on environmental and societal matters may have a negative impact on our business, impose additional costs on us, and expose us to additional risks.
  • FINANCIAL RISKS
  • Our existing and future indebtedness could limit our flexibility in operating our business or adversely affect our business and our liquidity position.
  • Our profitability may be materially adversely impacted if our capital investments do not match customer demand or if there is a decline in the availability of funding sources for these investments.
  • Increased prices for new revenue equipment, design changes of new engines, decreased availability of new revenue equipment, and decreased demand for and value of used equipment could have a materially adverse effect on our business, financial condition, results of operations, and profitability.
  • We could determine that our goodwill and other intangible assets are impaired, thus recognizing a related loss.
  • Concentrated ownership of our stock and our leadership structure can influence stockholder decisions, may discourage a change in control, and may have an adverse effect on share price of our stock.
  • The market price of our common stock may be volatile.
  • We may change our dividend policy at any time.
  • Changes in taxation could lead to an increase of our tax exposure and could affect the Company’s financial results.

Legal proceedings

We are a party to ordinary, routine litigation and administrative proceedings incidental to our business. These proceedings primarily involve claims for personal injury, property damage, cargo, and workers’ compensation incurred in connection with the transportation of freight. We maintain insurance to cover liabilities arising from the transportation of freight for amounts in excess of certain self-insured retentions.

The opening of Item 3, Legal Proceedings.16

Sources

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    SEC EDGAROther events
  47. 47
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    SEC EDGAROther events
  50. 50
  51. 51
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    SEC EDGAROther events
  56. 56
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  61. 61
  62. 62
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  64. 64
  65. 65
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