Heartland Express rises on higher Q1 profit, cash balance

Heartland Express

21/04/2022 19:11

** Shares of truckload carrier company  HTLD.O  rise 2.5%
to $13.73 in afternoon trade
    ** HTLD's Q1 net income rises to $16.78 mln from $13.73 mln
the previous year, helped by lower spending on salaries and 
wages and maintenance  urn:newsml:reuters.com:*:nGNX7gnMT0
    ** Says at end of Q1, it had 187.1 mln in cash balances, a
26.2% jump from previous year
    ** However, co's operating revenue falls marginally to
$151.3 mln vs prior year, due to lower freight demand in quarter
    
    ** HTLD says it expects volatile freight demand throughout
2022 but at volumes that would exceed its available capacity;
adds it is still facing hiring and retention challenges 
    ** Stock down 18.4% YTD

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))