Heartland Express Inc.

Three months ended September 30, 2025 Operating Revenue of $196.5 million, Net Loss of $8.3 million, Basic Loss per Share of $0.11, Operating Ratio of 103.7% and 103.5% Non-GAAP Adjusted Operating Ratio (1) , Total Assets of $1.3 billion, including $32.7 million of Cash, Stockholders' Equity of $775.6 million, Repurchased $1.4 million of our Common Stock, Acquisition-related debt and finance lease obligations reduced from $494 million in 2022 to $185 million ($309 million reduction in 3 years).

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Nine months ended September 30, 2025 Operating Revenue of $626.4 million, Net Loss of $33.0 million, Basic Loss per Share of $0.42, Operating Ratio of 105.5% and 105.6% Non-GAAP Adjusted Operating Ratio (1) , Repurchased $10.4 million of our Common Stock, Payments of approx.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

$16 million to reduce outstanding debt and finance lease obligations.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

We remain confident in the future and our operating model and as a result we invested in our fleet and terminal network ($6.9 million, net), reduced our debt and financing leases ($8.6 million paid), and repurchased 175,000 shares of our common stock ($1.4 million paid) during the three months ended September 30, 2025.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

We have repaid $309 million of debt and financing leases and additionally we have repurchased 1.8 million shares of our Common Stock for $17.6 million, both during a difficult and challenging past three years of operations.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Balance Sheet, Liquidity, and Capital Expenditures As of September 30, 2025, the Company had $32.7 million in cash balances, an increase of $19.9 million since December 31, 2024.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Heartland Express Chief Executive Officer Mike Gerdin commented on the quarterly operating results and ongoing initiatives of the Company, Our consolidated operating results for the three and nine months ended September 30, 2025, reflect sequential operating ratio improvement over the second quarter of 2025.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

We believe these strategic changes have CFI well positioned for improving driver utilization and enhancing the driver experience.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

CFI will continue to focus on operational and cost reduction efforts over the remaining three months of 2025 to improve their financial results.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Such statements may be identified by their use of terms or phrases such as seek, expects, estimates, anticipates, projects, believes, hopes, plans, goals, intends, may, might, likely, will, should, would, could, potential, predict, continue, strategy, future, ensure, outlook, and similar terms and phrases.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

In this press release, the statements relating to freight supply and demand, our ability to react to and capitalize on changing market conditions, the expected impact of operational improvements and strategic changes, progress toward our goals, future capital expenditures, future dispositions of revenue equipment and gains therefrom, future profitability, and future stock repurchases, dividends, and debt repayment are forward-looking statements.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

These statements and assumptions involve certain risks and uncertainties, and undue reliance should not be placed on such statements.

SEC original ↗Heartland Express Inc. — Earnings release (8-K exhibit)EX-99Nov 6, 2025

Legal Proceedings 27 Item 1A.

SEC original ↗Heartland Express Inc. — 10-Q Quarterly report10-QAug 10, 2026

Commitments and Contingencies We are a party to ordinary, routine litigation and administrative proceedings incidental to our business.

SEC original ↗Heartland Express Inc. — 10-Q Quarterly report10-QAug 10, 2026

In the opinion of management, our potential exposure under pending legal proceedings is adequately provided for in the accompanying consolidated financial statements.

SEC original ↗Heartland Express Inc. — 10-Q Quarterly report10-QAug 10, 2026

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.

SEC original ↗Heartland Express Inc. — 10-Q Quarterly report10-QAug 10, 2026

However, general consumer product output and inventory volatility, consumer demand, the political landscape, governmental regulations and enforcement, potential tariffs, foreign wars, and disruption in oil and diesel markets all could create additional volatility regarding future freight demand, capacity, rates, and fuel prices.

SEC original ↗Heartland Express Inc. — 10-Q Quarterly report10-QAug 10, 2026