Heartland Express (HTLD) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Entity Incorporation, State or Country Code	NV
Entity Registrant Name	HEARTLAND EXPRESS INC
City Area Code	319
Local Phone Number	645-7060
Entity Central Index Key	0000799233
Document Type	10-Q
Document Period End Date	Sep. 30, 2024
Entity File Number	0-15087
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		78,496,760
Entity Tax Identification Number	93-0926999
Entity Address, Address Line One	901 Heartland Way,
Entity Address, City or Town	North Liberty,
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52317
Trading Symbol	HTLD
Security Exchange Name	NASDAQ
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 30,739	$ 28,123
Trade receivables, net of $2.3 and $2.7 million allowance in 2024 and 2023, respectively	100,017	102,740
Prepaid tires	9,372	10,650
Other current assets	15,772	17,602
Income tax receivable	1,228	10,157
Total current assets	157,128	169,272
PROPERTY AND EQUIPMENT
Land and land improvements	119,182	118,682
Buildings	151,679	149,780
Furniture and fixtures	6,824	6,835
Shop and service equipment	22,106	20,822
Revenue equipment	995,743	1,021,208
Construction in progress	2,051	2,582
Property and equipment, gross	1,297,585	1,319,909
Less accumulated depreciation	536,948	434,558
Property and equipment, net	760,637	885,351
Goodwill	322,597	322,597
OTHER INTANGIBLES, NET	94,774	98,537
OTHER ASSETS	15,570	14,953
Deferred Income Taxes, Net	1,158	1,494
OPERATING LEASE RIGHT OF USE ASSETS	9,589	17,442
Assets	1,361,453	1,509,646
CURRENT LIABILITIES
Accounts payable and accrued liabilities	41,618	37,777
Compensation and benefits	29,294	28,492
Insurance accruals	24,561	21,507
Long-term debt and finance lease liabilities - current portion	8,734	9,303
Operating lease liabilities - current portion	6,790	9,259
Other accruals	23,728	17,138
Total current liabilities	134,725	123,476
LONG-TERM LIABILITIES
Income taxes payable	6,119	6,270
Long-term debt and finance lease liabilities less current portion	198,053	290,696
Operating lease liabilities less current portion	2,799	8,183
Deferred income taxes, net	163,769	189,121
Insurance accruals	30,239	26,640
Total long-term liabilities	400,979	520,910
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS' EQUITY
Preferred stock, par value $.01; authorized 5,000 shares; none issued	0	0
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2024 and 2023; outstanding 78,495 and 79,039 in 2024 and 2023, respectively	907	907
Additional paid-in capital	3,315	4,527
Retained earnings	1,027,505	1,060,094
Treasury stock, at cost; 12,194 and 11,650 shares in 2024 and 2023, respectively	(205,978)	(200,268)
Stockholders' Equity	825,749	865,260
Liabilities and Stockholders' Equity	$ 1,361,453	$ 1,509,646

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Consolidated Balance Sheets Parentheticals [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 2.3	$ 2.7
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	5,000	5,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	395,000	395,000
Common Stock, Shares, Issued	90,689	90,689
Common Stock, Shares, Outstanding	78,495	79,039
Treasury stock, shares	12,194	11,650

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Operating Revenue	$ 259,861	$ 295,026	$ 804,935	$ 932,111
Operating Expenses
Salaries, wages, and benefits	107,392	118,923	330,205	362,566
Rent and purchased transportation	18,343	26,674	63,893	88,285
Fuel	43,793	55,809	138,125	163,205
Operations and maintenance	19,338	16,596	52,334	47,669
Operating taxes and licenses	5,010	5,400	15,580	16,400
Insurance and claims	11,341	9,330	38,898	30,766
Communications and utilities	2,765	2,496	7,475	8,051
Depreciation and amortization	44,955	51,113	137,596	147,919
Other operating expenses	14,539	17,190	43,596	51,443
Gain on disposal of property and equipment	(476)	(1,065)	(1,510)	(15,873)
Total operating expenses	267,000	302,466	826,192	900,431
Operating (loss) income	(7,139)	(7,440)	(21,257)	31,680
Interest income	258	276	911	1,352
Interest Expense	(4,243)	(6,067)	(14,119)	(18,254)
(Loss) income before income taxes	(11,124)	(13,231)	(34,465)	14,778
Federal and state income taxes (benefit)	(1,841)	(2,528)	(6,596)	5,098
Net (loss) income	(9,283)	(10,703)	(27,869)	9,680
Other comprehensive income, net of tax	0	0	0	0
Comprehensive (loss) income	$ (9,283)	$ (10,703)	$ (27,869)	$ 9,680
Net (loss) income per share
Basic	$ (0.12)	$ (0.14)	$ (0.35)	$ 0.12
Diluted	$ (0.12)	$ (0.14)	$ (0.35)	$ 0.12
Weighted average shares outstanding
Basic	78,489	79,021	78,814	79,003
Diluted	78,500	79,103	78,866	79,069
Dividends declared per share	$ 0.02	$ 0.02	$ 0.06	$ 0.06

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Capital Stock, Common	Additional Paid-in Capital	Retained Earnings	Treasury Stock
Balance at Dec. 31, 2022	$ 855,477	$ 907	$ 4,165	$ 1,051,641	$ (201,236)
Net income (loss)	12,612	0	0	12,612	0
Dividends on common stock, $0.02 per share	(1,581)	0	0	(1,581)	0
Stock-based compensation, net of tax	111	0	32	0	79
Balance at Mar. 31, 2023	866,619	907	4,197	1,062,672	(201,157)
Net income (loss)	7,771	0	0	7,771	0
Dividends on common stock, $0.02 per share	(1,580)	0	0	(1,580)	0
Stock-based compensation, net of tax	127	0	(299)	0	426
Balance at Jun. 30, 2023	872,937	907	3,898	1,068,863	(200,731)
Net income (loss)	(10,703)	0	0	(10,703)	0
Dividends on common stock, $0.02 per share	(1,581)	0	0	(1,581)	0
Stock-based compensation, net of tax	477	0	363	0	114
Balance at Sep. 30, 2023	861,130	907	4,261	1,056,579	(200,617)
Balance at Dec. 31, 2023	865,260	907	4,527	1,060,094	(200,268)
Net income (loss)	(15,108)	0	0	(15,108)	0
Dividends on common stock, $0.02 per share	(1,582)	0	0	(1,582)	0
Stock-based compensation, net of tax	220	0	(9)	0	229
Balance at Mar. 31, 2024	848,790	907	4,518	1,043,404	(200,039)
Net income (loss)	(3,478)	0	0	(3,478)	0
Repurchases of common stock	(7,281)	0	0	0	(7,281)
Dividends on common stock, $0.02 per share	(1,569)	0	0	(1,569)	0
Stock-based compensation, net of tax	304	0	(185)	0	489
Balance at Jun. 30, 2024	836,766	907	4,333	1,038,357	(206,831)
Net income (loss)	(9,283)	0	0	(9,283)	0
Dividends on common stock, $0.02 per share	(1,569)	0	0	(1,569)	0
Stock-based compensation, net of tax	(165)	0	(1,018)	0	853
Balance at Sep. 30, 2024	$ 825,749	$ 907	$ 3,315	$ 1,027,505	$ (205,978)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity Parentheticals - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Dividends declared per share	$ 0.02	$ 0.02	$ 0.06	$ 0.06

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES
Net (loss) income	$ (27,869)	$ 9,680
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	137,596	147,919
Deferred income taxes	(25,016)	(11,903)
Stock-based compensation expense	742	928
Debt-related amortization	789	806
Gain on disposal of property and equipment	(1,510)	(15,873)
Changes in certain working capital items:
Trade receivables	2,723	25,874
Prepaid expenses and other current assets	2,297	4,604
Accounts payable, accrued liabilities, and accrued expenses	8,030	(25,176)
Accrued income taxes	8,778	(12,408)
Net cash provided by operating activities	106,560	124,451
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	27,698	94,660
Purchases of property and equipment	(26,229)	(176,861)
Change in other assets	30	382
Net cash provided by (used in) investing activities	1,499	(81,819)
FINANCING ACTIVITIES
Payments of cash dividends	(3,151)	(3,161)
Shares withheld for employee taxes related to stock-based compensation	(383)	(213)
Repayments of finance leases and debt	(94,001)	(69,887)
Repurchases of common stock	(7,281)	0
Net cash used in financing activities	(104,816)	(73,261)
Net increase (decrease) in cash, cash equivalents and restricted cash	3,243	(30,629)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period	41,188	64,478
End of period	44,431	33,849
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest expense	14,296	16,779
Cash paid during the period for income taxes, net of refunds	10,030	29,138
Noncash investing and financing activities:
Purchased property and equipment in accounts payable	12,086	22,270
Sold revenue equipment and property in other current assets	1,253	2,089
Common stock dividends declared in accounts payable	1,569	1,581
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents	30,739	20,101
Restricted cash included in other current assets	312	299
Restricted cash included in other assets	13,380	13,449
Total cash, cash equivalents and restricted cash	$ 44,431	$ 33,849

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Basis of Presentation and Accounting Pronouncements [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Basis of Presentation and New Accounting Pronouncements Heartland Express, Inc. is a holding company incorporated in Nevada, which directly or indirectly owns all of the stock of the following active legal entities: Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc. ("Heartland Express"), and Midwest Holding Group, LLC and Millis Transfer, LLC ("Millis Transfer"), and Smith Transport, LLC and Franklin Logistics, LLC ("Smith Transport"), and CFI entities, Transportation Resources, Inc. and Contract Freighters, Inc. (collectively with certain Mexican entities, "CFI"). Effective December 31, 2023, Smith Trucking, Inc. was merged into Smith Transport, Inc. Further, effective December 31, 2023, Smith Transport, Inc. and Franklin Logistics, Inc. were converted to Smith Transport, LLC and Franklin Logistics, LLC, respectively. On May 31, 2022, Heartland Express, Inc. of Iowa acquired Smith Transport, a truckload carrier headquartered in Roaring Spring, Pennsylvania. On August 31, 2022, Heartland Express, Inc. of Iowa acquired CFI's non-dedicated U.S. dry van and temperature-controlled truckload business located in Joplin, Missouri, and certain Mexican entities (collectively "CFI Logistica") with operations located in Mexico. We, together with our subsidiaries, are a short, medium, and long-haul truckload carrier and transportation services provider. We primarily provide nationwide asset-based dry van truckload service for major shippers across the United States, along with cross-border freight and other transportation services offered through third party partnerships in Mexico. The accompanying consolidated financial statements include the parent company, Heartland Express, Inc., and its subsidiaries, all of which are wholly owned. All material intercompany items and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and notes to the financial statements required by U.S. GAAP for complete financial statements. In the opinion of management, all normal, recurring adjustments considered necessary for a fair presentation have been included. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2023 included in the Annual Report on Form 10-K the Company filed with the Securities and Exchange Commission (the "SEC") on February 28, 2024. Interim results of operations are not necessarily indicative of the results to be expected for the full year or any other interim periods. There were no changes to the Company's significant accounting policies during the three and nine months ended September 30, 2024. In November 2023, the FASB issued Update 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". The amendments in the update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new standard although based on initial evaluation we do not believe there will be a material impact from adoption. In December 2023, the FASB issued Update 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The amendments in the update improve income tax disclosures primarily related to the rate reconciliation and income taxes paid information as well as the effectiveness of certain other income tax disclosures. The new standard is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adopting this new standard although based on initial evaluation we do not believe there will be a material impact from adoption.

Use of Estimates

Use of Estimates	9 Months Ended
	Sep. 30, 2024
Use of Estimates [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. There were no significant changes in estimates and assumptions used by management related to our critical accounting policies during the three and nine months ended September 30, 2024.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We provide truckload services across the United States (U.S.), Mexico, and parts of Canada. These truckload services are primarily asset-based transportation services in the dry van truckload market, and we also offer truckload temperature-controlled transportation services and Mexico logistics services, which are not significant to our consolidated operations. Our Chief Operating Decision Maker (“CODM”) oversees and manages all of our transportation services, on a combined basis, including previously acquired entities. As a result of the foregoing, we have determined that we have one reportable segment, consistent with the authoritative accounting guidance on disclosures about segments of an enterprise and related information.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition The Company recognizes revenue over time as control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services. The delivery of the shipment and completion of the performance obligation allows for the collection of payment generally within 30 days after the delivery date of the shipment for the majority of our customers. The Company's operations are consistent with those in the trucking industry where freight is hauled twenty-four hours a day and seven days a week, subject to hours of service rules. The Company’s average length of haul is approximately 400 loaded miles per trip and each individual shipment accepted by the Company is considered a separate contract with the performance obligation being the delivery of the freight. Our average length of haul for each load of freight generally equals less than two days of continuous transit time. The Company estimates revenue for multiple-stop loads based on miles run and estimates revenue for single stop loads based on transit time, as the customer simultaneously receives and consumes the benefit provided. The Company hauls freight and earns revenue on a consistent basis throughout the periods presented. A corresponding contract asset existed for the estimated revenue of these in-process loads for $1.9 million and $1.9 million at September 30, 2024 and December 31, 2023, respectively. Recorded contract assets are included in the accounts receivable line item of the balance sheet. Corresponding liabilities are recorded in the accounts payable and accrued liabilities and compensation and benefits line items for the estimated expenses on these same in-process loads. The Company had no contract liabilities associated with our operations as of September 30, 2024 and December 31, 2023, respectively. Total revenues recorded were $259.9 million and $295.0 million for the three months ended September 30, 2024 and 2023, respectively. Fuel surcharge revenues were $32.8 million and $42.9 million for the three months ended September 30, 2024 and 2023, respectively. Accessorial, brokerage and other revenues recorded in the consolidated statements of comprehensive income (loss) collectively represented $18.4 million and $22.4 million for the three months ended September 30, 2024 and 2023, respectively. Total revenues recorded were $804.9 million and $932.1 million for the nine months ended September 30, 2024 and 2023, respectively. Fuel surcharge revenues were $105.9 million and $134.1 million for the nine months ended September 30, 2024 and 2023, respectively. Accessorial, brokerage and other revenues recorded in the consolidated statements of comprehensive income (loss) collectively represented $58.6 million and $71.7 million for the nine months ended September 30, 2024 and 2023, respectively.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents are short-term, highly liquid investments with insignificant interest rate risk and original maturities of three months or less at acquisition. At September 30, 2024, restricted and designated cash and investments totaled $13.7 million, of which $0.3 million was included in other current assets and $13.4 million was included in other non-current assets in the consolidated balance sheet. Restricted and designated cash and investments totaled $13.0 million at December 31, 2023, of which $0.3 million was included in other current assets and $12.7 million was included in other non-current assets in the consolidated balance sheet. The restricted funds represent deposits required by state agencies for self-insurance purposes and designated funds that are earmarked for a specific purpose and not for general business use.

Prepaid Tires, Property, Equipm

Prepaid Tires, Property, Equipment and Depreciation	9 Months Ended
	Sep. 30, 2024
Property, Plant and Depreciation [Abstract]
Property, Equipment, and Depreciation	Prepaid Tires, Property, Equipment, and Depreciation Property and equipment are reported at cost, net of accumulated depreciation. Maintenance and repairs are charged to operations as incurred. New tires are capitalized separately from revenue equipment and are reported separately as “Prepaid tires” in the consolidated balance sheets and amortized over two years. Depreciation for financial statement purposes is computed by the straight-line method for all assets other than new tractors. We recognize depreciation expense on new tractors (excludes assets acquired through an acquisition) using the 125% declining balance method. Revenue equipment acquired through acquisitions is generally revalued to current market values as of the acquisition date. Assets obtained more than a year prior to the acquisition by the acquired company are depreciated on a straight-line basis aligned with the remaining period of expected use, whereas those obtained less than a year prior are depreciated consistent with newly purchased assets. As acquired equipment is replaced, our fleet returns to our base methods of declining balance depreciation for tractors and straight-line depreciation for trailers. New tractors are depreciated to salvage values of $15,000 while new trailers are depreciated to salvage values of $4,000. For equipment acquired through acquisitions the salvage values on used equipment is determined based upon factors including the age of the equipment, estimated market value, and expected period of usage. At September 30, 2024, there were $1.3 million receivable related to equipment sales recorded in other current assets compared to $2.5 million at December 31, 2023.

Other Intangible, Net and Goodw

Other Intangible, Net and Goodwill	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Other Intangibles, Net and Goodwill All intangible assets determined to have finite lives are amortized over their estimated useful lives. The useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to future cash flows. There was no change in the gross amount of identifiable intangible assets during the nine months ended September 30, 2024. The $94.8 million of other intangibles, net recorded in the consolidated balance sheet at September 30, 2024 includes $31.6 million of indefinite lived trade name intangible assets, not subject to amortization, along with $63.2 million finite lived intangible assets, net. Amortization expense of $1.3 million and $1.3 million for the three months ended September 30, 2024 and 2023, respectively, was included in depreciation and amortization in the consolidated statements of comprehensive income (loss). Amortization expense of $3.8 million and $3.9 million for the nine months ended September 30, 2024 and 2023, respectively, was included in depreciation and amortization in the consolidated statements of comprehensive income (loss). Intangible assets subject to amortization consisted of the following at September 30, 2024: Amortization period (years) Gross Amount Accumulated Amortization Net finite intangible assets (in thousands) Customer relationships 15-20 $ 75,836 $ 15,876 $ 59,960 Trade name 0.5-10 12,900 10,540 2,360 Covenants not to compete 1-10 5,839 5,009 830 $ 94,575 $ 31,425 $ 63,150

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share Basic (loss) earnings per share is based upon the weighted average common shares outstanding during each year. Diluted (loss) earnings per share is based on the basic weighted (loss) earnings per share with additional weighted common shares for common stock equivalents. During the three and nine months ended September 30, 2024 and September 30, 2023, we had outstanding restricted shares of common stock to certain of our employees and directors, under the Company's restricted stock award plans. A reconciliation of the numerator (net (loss) income) and denominator (weighted average number of shares outstanding of basic and diluted) for the three and nine months ended September 30, 2024 and September 30, 2023 is as follows (in thousands, except per share data): Three months ended September 30, 2024 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (9,283) 78,489 $ (0.12) Effect of restricted stock — 11 Diluted loss per share $ (9,283) 78,500 $ (0.12) Three months ended September 30, 2023 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (10,703) 79,021 $ (0.14) Effect of restricted stock — 82 Diluted loss per share $ (10,703) 79,103 $ (0.14) Nine months ended September 30, 2024 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (27,869) 78,814 $ (0.35) Effect of restricted stock — 52 Diluted loss per share $ (27,869) 78,866 $ (0.35) Nine months ended September 30, 2023 Net Income (numerator) Shares (denominator) Per Share Amount Basic earnings per share $ 9,680 79,003 $ 0.12 Effect of restricted stock — 66 Diluted earnings per share $ 9,680 79,069 $ 0.12

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Share Repurchases [Abstract]
Stockholders' Equity	Equity We have a stock repurchase program with 6.0 million shares remaining authorized for repurchase as of September 30, 2024. During the three months ended September 30, 2024 and 2023, there were no shares repurchased in the open market. There were 0.6 million shares repurchased in the open market during the nine months ended September 30, 2024 and there were no shares repurchased in the open market during the nine months ended September 30, 2023. Repurchases are expected to continue from time to time, as determined by market conditions, cash flow requirements, securities law limitations, long-term debt balances, and other factors, until the number of shares authorized have been repurchased, or until the authorization is terminated. The share repurchase authorization is discretionary and has no expiration date. During the three months ended September 30, 2024 and 2023, our Board of Directors declared dividends totaling $1.6 million and $1.6 million, respectively. During the nine months ended September 30, 2024 and 2023, our Board of Directors declared dividends totaling $4.7 million and $4.7 million, respectively. Future payment of cash dividends and the amount of such dividends will depend upon our financial conditions, our results of operations, our cash requirements, our tax treatment, and certain corporate law requirements, as well as factors deemed relevant by our Board of Directors.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Stock-Based Compensation In July 2011, a Special Meeting of Stockholders of Heartland Express, Inc. was held, at which meeting the approval of the Heartland Express, Inc. 2011 Restricted Stock Award Plan (the "2011 Plan") was ratified. The 2011 Plan made available up to 0.9 million shares for the purpose of making restricted stock grants to our eligible officers and employees. The 2011 Plan has no shares that remain available for the purpose of making restricted stock grants at September 30, 2024. In May 2021, at the 2021 Annual Meeting of Stockholders, the Heartland Express, Inc. 2021 Restricted Stock Award Plan (the "2021 Plan") was approved. The 2021 Plan made available up to 0.6 million shares for the purpose of making restricted stock grants to our eligible employees, directors and consultants. The 2021 Plan has 0.4 million shares that remain available for the purpose of making restricted stock grants at September 30, 2024. There were no shares that were granted during the period 2011 to 2021 that remain unvested at September 30, 2024. Shares granted in 2022 through 2024 have various vesting terms that range from immediate to four years from the date of grant. Compensation expense associated with these awards is based on the market value of our stock on the grant date. Compensation expense associated with restricted stock awards to employees is included in salaries, wages, and benefits, while expense associated with awards to directors or consultants is included in other operating expenses in the consolidated statements of comprehensive income (loss). There were no significant assumptions made in determining fair value. Compensation expense associated with restricted stock awards was $0.1 million and $0.7 million respectively, for the three and nine months ended September 30, 2024. Compensation expense associated with restricted stock awards was $0.5 million and $0.9 million respectively, for the three and nine months ended September 30, 2023. Unrecognized compensation expense was $0.1 million at September 30, 2024 which will be recognized over a weighted average period of 0.8 years. The following tables summarize our restricted stock award activity for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 62.5 $ 14.85 Granted 26.3 12.97 Vested (63.8) 14.05 Forfeited (14.0) 14.81 Outstanding (unvested) at end of period 11.0 $ 15.05 Three Months Ended September 30, 2023 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 95.0 $ 15.23 Granted — — Vested (15.0) 15.17 Forfeited — — Outstanding (unvested) at end of period 80.0 $ 15.24 Nine Months Ended September 30, 2024 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 85.8 $ 14.84 Granted 54.2 12.39 Vested (115.0) 13.67 Forfeited (14.0) 14.81 Outstanding (unvested) at end of period 11.0 $ 15.05 Nine Months Ended September 30, 2023 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 40.1 $ 16.01 Granted 93.3 14.82 Vested (53.4) 15.09 Forfeited — — Outstanding (unvested) at end of period 80.0 $ 15.24

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2024
Long-Term Line of Credit [Abstract]
Long-Term Debt	Long-Term Debt In conjunction with the acquisition of CFI on August 31, 2022, (the “CFI Closing Date”), Heartland entered into a $550.0 million unsecured credit facility which included a $100.0 million revolving line of credit (“Revolving Facility”) and $450.0 million in term loans (“Term Facility” and, together with the Revolving Facility, the “Credit Facilities”). The Credit Facilities includes a consortium of lenders, including joint bookrunners JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association (“Wells Fargo”). The Credit Facilities replaced the previous credit arrangements in place for the Company which consisted of a November 2013 Credit Agreement with Wells Fargo, along with an asset-based credit facility with Citizens Bank of Pennsylvania that was assumed as part of the acquisition of Smith Transport on May 31, 2022. The full amount of the Term Facility was made in a single draw on August 31, 2022 and amounts borrowed under the Term Facility that are repaid or prepaid may not be reborrowed. The Term Facility amortizes in quarterly installments which began in September 2023, at 5% per annum through June 2025 and 10% per annum from September 2025 through June 2027, with the balance due on the date that is five years from the CFI Closing Date. Based on debt repayments made through September 30, 2024, required minimum payments have been covered until the term loan maturity on August 31, 2027. The Revolving Facility consists of a five-year revolving credit facility with aggregate commitments in an amount equal to $100.0 million, of which up to $50.0 million is available for the issuance of letters of credit, and including a swingline facility in an amount equal to $20.0 million. The Revolving Facility will mature and the commitments thereunder will terminate on the date that is five years after the CFI Closing Date. Amounts repaid under the Revolving Facility may be reborrowed. The Credit Facilities include an uncommitted accordion feature pursuant to which the Company may request up to $275.0 million in incremental revolving or term loans, subject to lender approvals. The indebtedness, obligations, and liabilities under the Credit Facilities are unconditionally guaranteed, jointly and severally, on an unsecured basis by the Company, borrower, and certain other subsidiaries of the Company. The borrower may voluntarily prepay outstanding loans under the Credit Facilities in whole or in part at any time without premium or penalty, subject to payment of customary breakage costs in the case of Secured Overnight Financing Rate (“SOFR”) rate loans. The Credit Facilities contain usual and customary events of default and negative covenants for a facility of this nature including, among other things, restrictions on the Company’s ability to incur certain additional indebtedness or issue guarantees, to create liens on the Company’s assets, to make distributions on or redeem equity interests (subject to certain exceptions, including that (a) the Company may pay regularly scheduled dividends on the Company’s common stock not to exceed $10.0 million during any fiscal year and (b) the Company may make any other distributions so long as it maintains a net leverage ratio not greater than 2.50 to 1.00), to make investments and to engage in mergers, consolidations, or acquisitions. The Credit Facilities contain customary financial covenants, including (i) a maximum net leverage ratio of 2.75 to 1.00, measured quarterly on a trailing twelve-month basis, and (ii) a minimum interest coverage ratio of 3.00 to 1.00, measured quarterly on a trailing twelve-month basis. We were in compliance with the respective financial covenants at September 30, 2024 and have been in compliance since the inception of the Credit Facilities. Outstanding borrowings under the Credit Facilities will accrue interest, at the option of the borrower, at a per annum rate of (i) for an “ABR Loan”, the alternate base rate (defined as the interest rate per annum equal to the highest of (a) the variable rate of interest announced by the administrative agent as its “prime rate”, (b) 0.50% above the Federal Funds Rate, (c) the Term SOFR for an interest period of one-month plus 1.1%, or (d) 1.00%) plus the applicable margin or (ii) for a “SOFR Loan”, the Term SOFR Rate for an interest period of one, three or six-months as selected by Company plus the applicable margin. The applicable margin for ABR Loans ranges from 0.250% to 0.875% and the applicable margin for SOFR Loans ranges from 1.250% to 1.875%, depending on the Company’s net leverage ratio. We had $188.0 million outstanding on the Term Facility and nothing outstanding under the Revolving Facility at September 30, 2024. Outstanding letters of credit associated with the Revolving Facility at September 30, 2024 were $11.7 million. As of September 30, 2024, the Revolving Facility available for future borrowing was $88.3 million. As of September 30, 2024 the weighted average interest rate on outstanding borrowings under the Credit Facilities was 6.8%. Unamortized loan origination fees of $0.4 million at September 30, 2024 are included in long-term debt and finance lease liabilities. The May 31, 2022 acquisition of Smith Transport included the assumption of $46.8 million of debt and financing lease obligations associated with the fleet of revenue equipment of which $19.2 million was outstanding at September 30, 2024, (the "Smith Debt"). The Smith Debt has $6.3 million of outstanding principal and is made up of installment notes with a weighted average interest rate of 4.4% at September 30, 2024, due in monthly installments with final maturities at various dates ranging from February 2027 to January 2029, secured by related revenue equipment. The remaining Smith Debt of $12.9 million are finance lease obligations with a weighted average interest rate of 4.0% at September 30, 2024, due in monthly installments with final maturities at various dates ranging from October 2024 to April 2026 with the weighted average remaining lease term of 1.2 years.

Lease Obligations

Lease Obligations	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Operating Leases	Lease Obligations During 2023, we sold multiple properties for a combined $25.6 million gain. In separate transactions related to the respective sales, we entered into operating lease agreements, each with a base term of two years. The right-of-use assets associated with terminal leases was $5.7 million as of September 30, 2024. Smith Transport has revenue equipment operating lease right-of-use assets from leases entered into before the May 31, 2022 acquisition. These right-of-use equipment operating lease assets have a total balance of $3.9 million as of September 30, 2024. The equipment and property operating leases have a weighted average interest rate of 5.4% at September 30, 2024, due in monthly installments with final maturities at various dates ranging from October 2024 to April 2027 with the weighted average remaining lease term of 1.5 years. The Company has related party operating leases with the founder of Smith Transport, where the Company is both a lessor and lessee of certain real estate properties. These leases represent an insignificant portion of the right-of-use lease assets discussed above. See Note 11. Long-Term Debt for additional details on the finance leases. Our future minimum lease payments as of September 30, 2024, are summarized as follows by lease category: (in thousands) Operating Finance 2024 (remaining) $ 1,846 $ 1,977 2025 6,391 7,557 2026 1,497 3,840 2027 320 — 2028 — — Thereafter — — Total minimum lease payments $ 10,054 $ 13,374 Less: future payment amount for interest 465 506 Present value of minimum lease payments $ 9,589 $ 12,868 Less: current portion 6,790 6,924 Lease obligations, long-term $ 2,799 $ 5,944

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We use the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when temporary differences reverse. The effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted. A valuation allowance is recorded to reduce the Company's deferred tax assets to the amount that is more likely than not to be realized. We had no recorded valuation allowance at September 30, 2024 and December 31, 2023. Our effective tax rate was 16.5% and 19.1% for the three months ended September 30, 2024 and 2023, respectively. The decrease in the effective tax rate is the result of an increase in unfavorable permanent differences offsetting the tax benefit generated on the net loss for the respective quarters. Our effective tax rate was 19.1% and 34.5% for the nine months ended September 30, 2024 and 2023, respectively. The decrease in the effective tax rate is primarily the result of permanent differences and items not correlated to income reducing the rate for 2024 calculated on a loss before tax. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. At September 30, 2024 and December 31, 2023, we had a total of $5.2 million and $5.5 million in gross unrecognized tax benefits, respectively included in long-term income taxes payable in the consolidated balance sheet. Of this amount, $4.1 million and $4.4 million represents the amount of unrecognized tax benefits that, if recognized, would impact our effective tax rate as of September 30, 2024 and December 31, 2023. The net change in unrecognized tax benefits was no change and an increase of $0.1 million during the three months ended September 30, 2024 and September 30, 2023, respectively. The net change in unrecognized tax benefits was a decrease of $0.3 million and $0.1 million during the nine months ended September 30, 2024 and September 30, 2023, respectively. The total net amount of accrued interest and penalties for such unrecognized tax benefits was $0.9 million and $0.7 million at September 30, 2024 and December 31, 2023, respectively and is included in long-term income taxes payable in the consolidated balance sheets. These unrecognized tax benefits relate to state income tax filing positions. Income tax expense is increased each period for the accrual of interest on outstanding positions and penalties when the uncertain tax position is initially recorded. Income tax expense is reduced in periods by the amount of accrued interest and penalties associated with reversed uncertain tax positions due to lapse of applicable statute of limitations, when applicable or when a position is settled. Net interest and penalties included in income tax expense was nominal for both the three and nine month period ended September 30, 2024 and September 30, 2023, respectively. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2024 (in thousands) Balance at December 31, 2023 $ 5,522 Additions based on tax positions related to current year 37 Reductions due to lapse of applicable statute of limitations (362) Balance at September 30, 2024 $ 5,197 A number of years may elapse before an uncertain tax position is audited and ultimately settled. It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions. It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. These changes could result from the expiration of the statute of limitations, examinations, or other unforeseen circumstances. We do not have any outstanding litigation related to income tax matters. At this time, management’s best estimate of the reasonably possible change in the amount of gross unrecognized tax benefits is approximately no change to an increase of $1.0 million during the next twelve months, due to the combination of expiration of certain statute of limitations and estimated additions. The federal statute of limitations remains open for the years 2021 and forward. Tax years 2014 and forward are subject to audit by state tax authorities depending on the tax code and administrative practice of each state.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are a party to ordinary, routine litigation and administrative proceedings incidental to our business. In the opinion of management, our potential exposure under pending legal proceedings is adequately provided for in the accompanying consolidated financial statements. The total estimated purchase commitments for tractors (net of tractor sale commitments) and trailer equipment as of September 30, 2024 was $58.6 million. These commitments extend into 2025.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (9,283)	$ (3,478)	$ (15,108)	$ (10,703)	$ 7,771	$ 12,612

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2024
Basis of Presentation [Abstract]
Basis of Presentation [Policy Text Block]	Basis of Presentation and New Accounting Pronouncements Heartland Express, Inc. is a holding company incorporated in Nevada, which directly or indirectly owns all of the stock of the following active legal entities: Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc. ("Heartland Express"), and Midwest Holding Group, LLC and Millis Transfer, LLC ("Millis Transfer"), and Smith Transport, LLC and Franklin Logistics, LLC ("Smith Transport"), and CFI entities, Transportation Resources, Inc. and Contract Freighters, Inc. (collectively with certain Mexican entities, "CFI"). Effective December 31, 2023, Smith Trucking, Inc. was merged into Smith Transport, Inc. Further, effective December 31, 2023, Smith Transport, Inc. and Franklin Logistics, Inc. were converted to Smith Transport, LLC and Franklin Logistics, LLC, respectively. On May 31, 2022, Heartland Express, Inc. of Iowa acquired Smith Transport, a truckload carrier headquartered in Roaring Spring, Pennsylvania. On August 31, 2022, Heartland Express, Inc. of Iowa acquired CFI's non-dedicated U.S. dry van and temperature-controlled truckload business located in Joplin, Missouri, and certain Mexican entities (collectively "CFI Logistica") with operations located in Mexico. We, together with our subsidiaries, are a short, medium, and long-haul truckload carrier and transportation services provider. We primarily provide nationwide asset-based dry van truckload service for major shippers across the United States, along with cross-border freight and other transportation services offered through third party partnerships in Mexico.
New Accounting Pronouncements, Policy [Policy Text Block]	In November 2023, the FASB issued Update 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". The amendments in the update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new standard although based on initial evaluation we do not believe there will be a material impact from adoption. In December 2023, the FASB issued Update 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The amendments in the update improve income tax disclosures primarily related to the rate reconciliation and income taxes paid information as well as the effectiveness of certain other income tax disclosures. The new standard is effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact of adopting this new standard although based on initial evaluation we do not believe there will be a material impact from adoption.
Use of Estimates, Policy [Policy Text Block]	Use of EstimatesThe preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Segment Reporting, Policy [Policy Text Block]	Segment Information We provide truckload services across the United States (U.S.), Mexico, and parts of Canada. These truckload services are primarily asset-based transportation services in the dry van truckload market, and we also offer truckload temperature-controlled transportation services and Mexico logistics services, which are not significant to our consolidated operations. Our Chief Operating Decision Maker (“CODM”) oversees and manages all of our transportation services, on a combined basis, including previously acquired entities. As a result of the foregoing, we have determined that we have one reportable segment, consistent with the authoritative accounting guidance on disclosures about segments of an enterprise and related information.
Revenue [Policy Text Block]	The Company recognizes revenue over time as control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services. The delivery of the shipment and completion of the performance obligation allows for the collection of payment generally within 30 days after the delivery date of the shipment for the majority of our customers.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash EquivalentsCash equivalents are short-term, highly liquid investments with insignificant interest rate risk and original maturities of three months or less at acquisition.
Property, Plant and Equipment, Policy [Policy Text Block]	Prepaid Tires, Property, Equipment, and Depreciation Property and equipment are reported at cost, net of accumulated depreciation. Maintenance and repairs are charged to operations as incurred. New tires are capitalized separately from revenue equipment and are reported separately as “Prepaid tires” in the consolidated balance sheets and amortized over two years. Depreciation for financial statement purposes is computed by the straight-line method for all assets other than new tractors. We recognize depreciation expense on new tractors (excludes assets acquired through an acquisition) using the 125% declining balance method. Revenue equipment acquired through acquisitions is generally revalued to current market values as of the acquisition date. Assets obtained more than a year prior to the acquisition by the acquired company are depreciated on a straight-line basis aligned with the remaining period of expected use, whereas those obtained less than a year prior are depreciated consistent with newly purchased assets. As acquired equipment is replaced, our fleet returns to our base methods of declining balance depreciation for tractors and straight-line depreciation for trailers. New tractors are depreciated to salvage values of $15,000 while new trailers are depreciated to salvage values of $4,000. For equipment acquired through acquisitions the salvage values on used equipment is determined based upon factors including the age of the equipment, estimated market value, and expected period of usage. At September 30, 2024, there were $1.3 million receivable related to equipment sales recorded in other current assets compared to $2.5 million at December 31, 2023.
Earnings Per Share, Policy [Policy Text Block]	Earnings per ShareBasic (loss) earnings per share is based upon the weighted average common shares outstanding during each year. Diluted (loss) earnings per share is based on the basic weighted (loss) earnings per share with additional weighted common shares for common stock equivalents.
Income Tax, Policy [Policy Text Block]	We use the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when temporary differences reverse. The effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted. A valuation allowance is recorded to reduce the Company's deferred tax assets to the amount that is more likely than not to be realized.
Income Tax Uncertainties, Policy [Policy Text Block]	We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense.

Other Intangible, Net and Goo_2

Other Intangible, Net and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Amortization period (years) Gross Amount Accumulated Amortization Net finite intangible assets (in thousands) Customer relationships 15-20 $ 75,836 $ 15,876 $ 59,960 Trade name 0.5-10 12,900 10,540 2,360 Covenants not to compete 1-10 5,839 5,009 830 $ 94,575 $ 31,425 $ 63,150

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended September 30, 2024 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (9,283) 78,489 $ (0.12) Effect of restricted stock — 11 Diluted loss per share $ (9,283) 78,500 $ (0.12) Three months ended September 30, 2023 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (10,703) 79,021 $ (0.14) Effect of restricted stock — 82 Diluted loss per share $ (10,703) 79,103 $ (0.14) Nine months ended September 30, 2024 Net Loss (numerator) Shares (denominator) Per Share Amount Basic loss per share $ (27,869) 78,814 $ (0.35) Effect of restricted stock — 52 Diluted loss per share $ (27,869) 78,866 $ (0.35) Nine months ended September 30, 2023 Net Income (numerator) Shares (denominator) Per Share Amount Basic earnings per share $ 9,680 79,003 $ 0.12 Effect of restricted stock — 66 Diluted earnings per share $ 9,680 79,069 $ 0.12

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Disclosure of restricted stock award activity	The following tables summarize our restricted stock award activity for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 62.5 $ 14.85 Granted 26.3 12.97 Vested (63.8) 14.05 Forfeited (14.0) 14.81 Outstanding (unvested) at end of period 11.0 $ 15.05 Three Months Ended September 30, 2023 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 95.0 $ 15.23 Granted — — Vested (15.0) 15.17 Forfeited — — Outstanding (unvested) at end of period 80.0 $ 15.24 Nine Months Ended September 30, 2024 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 85.8 $ 14.84 Granted 54.2 12.39 Vested (115.0) 13.67 Forfeited (14.0) 14.81 Outstanding (unvested) at end of period 11.0 $ 15.05 Nine Months Ended September 30, 2023 Number of Shares of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of period 40.1 $ 16.01 Granted 93.3 14.82 Vested (53.4) 15.09 Forfeited — — Outstanding (unvested) at end of period 80.0 $ 15.24

Lease Obligations (Tables)

Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	Our future minimum lease payments as of September 30, 2024, are summarized as follows by lease category: (in thousands) Operating Finance 2024 (remaining) $ 1,846 $ 1,977 2025 6,391 7,557 2026 1,497 3,840 2027 320 — 2028 — — Thereafter — — Total minimum lease payments $ 10,054 $ 13,374 Less: future payment amount for interest 465 506 Present value of minimum lease payments $ 9,589 $ 12,868 Less: current portion 6,790 6,924 Lease obligations, long-term $ 2,799 $ 5,944

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2024 (in thousands) Balance at December 31, 2023 $ 5,522 Additions based on tax positions related to current year 37 Reductions due to lapse of applicable statute of limitations (362) Balance at September 30, 2024 $ 5,197

Segment Information (Details)

Segment Information (Details)	9 Months Ended
	Sep. 30, 2024 segments
Segment Reporting Information [Line Items]
Number of Segments	1

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Asset, after Allowance for Credit Loss	$ 1,900		$ 1,900		$ 1,900
Operating Revenue	259,861	$ 295,026	804,935	$ 932,111
Accessorial and other revenues	18,400	22,400	58,600	71,700
fuel surcharge [Member]
Disaggregation of Revenue [Line Items]
Fuel surcharge revenue	$ 32,800	$ 42,900	$ 105,900	$ 134,100

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Restricted Cash and Cash Equivalents	$ 13.7	$ 13
Restricted Cash included in other current assets	0.3	0.3	$ 0.3
Restricted Cash included in other assets	$ 13.4	$ 12.7	$ 13.4

Prepaid Tires, Property, Equi_2

Prepaid Tires, Property, Equipment and Depreciation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Amortization Period of Tires	two years
Sold revenue equipment in other current assets	$ 1,300	$ 2,500
Tractors [Member]
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Salvage Value	15
Trailers [Member]
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Salvage Value	$ 4

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets Acquired	$ 0		$ 0
Goodwill	322,597		322,597		$ 322,597
Other Intangible Assets, Net	94,800		94,800
Indefinite-Lived Trade Names	31,600		31,600
Finite-Lived Intangible Assets, Amortization Expense	1,300	$ 1,300	3,800	$ 3,900
Finite-Lived Intangible Assets, Gross	94,575		94,575
Finite-Lived Intangible Assets, Accumulated Amortization	31,425		31,425
Finite-Lived Intangible Assets, Net	63,150		63,150
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	75,836		75,836
Finite-Lived Intangible Assets, Accumulated Amortization	15,876		15,876
Finite-Lived Intangible Assets, Net	59,960		59,960
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	12,900		12,900
Finite-Lived Intangible Assets, Accumulated Amortization	10,540		10,540
Finite-Lived Intangible Assets, Net	2,360		2,360
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	5,839		5,839
Finite-Lived Intangible Assets, Accumulated Amortization	5,009		5,009
Finite-Lived Intangible Assets, Net	$ 830		$ 830
Maximum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	20 years		20 years
Maximum [Member] | Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	10 years		10 years
Maximum [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	10 years		10 years
Minimum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	15 years		15 years
Minimum [Member] | Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	6 months		6 months
Minimum [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period (years)	1 year		1 year

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss)	$ (9,283)	$ (10,703)	$ (27,869)	$ 9,680
Basic EPS, Shares	78,489	79,021	78,814	79,003
Basic EPS, Per Share Amount	$ (0.12)	$ (0.14)	$ (0.35)	$ 0.12
Effect of restricted stock	$ 0	$ 0	$ 0	$ 0
Effect of restricted stock, Shares	11	82	52	66
Diluted EPS, Net Income	$ (9,283)	$ (10,703)	$ (27,869)	$ 9,680
Diluted EPS, Shares	78,500	79,103	78,866	79,069
Diluted EPS, Per Share Amount	$ (0.12)	$ (0.14)	$ (0.35)	$ 0.12

Equity (Details)

Equity (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share Repurchases [Abstract]
Number of Shares Authorized to be Repurchased	6,000		6,000
Treasury Stock, Shares, Acquired	0	0	600	0
Dividends, Common Stock, Cash	$ 1.6	$ 1.6	$ 4.7	$ 4.7

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	May 13, 2021	Jul. 11, 2011
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			9 months 18 days
Restricted Stock Shares Authorized					600,000	900,000
Stock-based Compensation	$ 100	$ 500	$ 700	$ 900
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 100		$ 100
Restricted Stock Shares, Remaining Available	406,731		406,731
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Unvested at beginning of year, Number of Restricted Stock Awards (in shares)	62,500	95,000	85,800	40,100
Unvested at beginning of year, Weighted Average Grant Date Fair Value (in dollars)	$ 14.85	$ 15.23	$ 14.84	$ 16.01
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	26,300	0	54,200	93,300
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 12.97	$ 0	$ 12.39	$ 14.82
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(63,800)	(15,000)	(115,000)	(53,400)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 14.05	$ 15.17	$ 13.67	$ 15.09
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(14,000)	0	(14,000)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 14.81	$ 0	$ 14.81	$ 0
Outstanding (unvested) at end of year, Number of Restricted Stock Awards (in shares)	11,000	80,000	11,000	80,000
Outstanding (unvested) at end of year, Weighted Average Grant Date Fair Value (in dollars)	$ 15.05	$ 15.24	$ 15.05	$ 15.24

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) Rate	Aug. 31, 2022 USD ($)	May 31, 2022 USD ($)
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 11,700
Business combination, assumption of debt and financing leases	$ 19,200		$ 46,800
Debt Acquired, Weighted Average Interest Rate | Rate	4.40%
Finance Lease, Weighted Average Discount Rate, Percent | Rate	4%
Finance Lease, Weighted Average Remaining Lease Term	1 year 2 months 12 days
Finance Lease Obligations	$ 12,900
Debt Acquired	6,300
Unsecured Credit Facility		$ 550,000
Revolving Line of Credit		100,000
Term Facility		450,000
Swingline Facility		20,000
Available amount for issuance of letters of credit		50,000
Uncommitted Accordion Feature		$ 275,000
Outstanding Debt on Term Facility	188,000
Outstanding Debt on Revolving Facility	0
Line of Credit Facility, Current Borrowing Capacity	$ 88,300
Weighted Average Interest Rate, Credit Facility | Rate	6.80%
Debt Instrument, Covenant, Distributions Max Leverage Ratio	2.5
Debt Instrument, Covenant, Minimum Interest Coverage Ratio	3
Debt Instrument, Covenant, Maximum Net Leverage Ratio	2.75
Max Annual Dividend	$ 10,000
Applicable Margin Base | Rate	1%
Term SOFR one-month spread | Rate	1.10%
Unamortized Debt Issuance Expense	$ 400
Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Minimum [Member] | ABR Loan
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	0.25%
Minimum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Financing Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.25%
Maximum [Member] | ABR Loan
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	0.875%
Maximum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Financing Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate	1.875%

Lease Obligations (Details)

Lease Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases [Abstract]
2024 (remaining)	$ 1,846
2025	6,391
2026	1,497
2027	320
2028	0
Thereafter	0
Lessee, Operating Lease, Liability, to be Paid	10,054
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	465
Operating Lease, Liability	9,589
Operating lease liabilities - current portion	6,790	$ 9,259
Operating lease liabilities less current portion	2,799	8,183
Right of Use Asset associated with the leased terminal facilities	$ 5,700
Operating Lease, Weighted Average Remaining Lease Term	1 year 6 months
Operating Lease, Weighted Average Discount Rate, Percent	5.40%
Right of Use Operating Lease Assets Acquired	$ 3,900
Finance Leases [Abstract]
2024 (remaining)	1,977
2025	7,557
2026	3,840
2027	0
2028	0
Thereafter	0
Finance Lease, Liability, Payment, Due	13,374
Finance Lease, Liability, Undiscounted Excess Amount	506
Finance Lease, Liability	12,868
Finance Lease, Liability, Current	6,924
Finance Lease, Liability, Noncurrent	$ 5,944
Gain on Sale of Properties		$ 25,600

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective Income Tax Rate, Percent	16.50%	19.10%	19.10%	34.50%
Valuation Allowance [Abstract]
Valuation Allowance, Amount	$ 0		$ 0		$ 0
Income Tax Uncertainties [Abstract]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	4,100		4,100		4,400
Unrecognized Tax Benefits, Period Increase (Decrease)	0	$ 100	(300)	$ (100)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	900		900		$ 700
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	100	$ 100	200	$ 0
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance beginning of period			5,522
Additions based on tax positions related to current year			37
Reductions due to lapse of applicable statute of limitations			(362)
Balance end of period	5,197		5,197
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	0		0
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 1,000		$ 1,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Unrecorded Unconditional Purchase Obligation	$ 58.6