Gains from Equipment Sales Save Heartland’s Q2 Heartland Express, one of the struggling truckload carriers in the US, has managed to turn its second quarter financials around thanks to a $22 million gain from equipment sales.
The significant boost, equivalent to 22 cents per share at a normalized tax rate, masks the company's otherwise dismal performance.
The absence of this one time windfall would have resulted in an operating ratio (OR) closer to 103%, far from the industry's benchmark of 90%.