Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Heartland Express (NASDAQ:HTLD) and its peers.
The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 16 ground transportation stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates.
Thankfully, share prices of the companies have been resilient as they are up 6.4% on average since the latest earnings results.
Heartland Express (NASDAQ:HTLD)
Founded by the son of a trucker, Heartland Express (NASDAQ:HTLD) offers full-truckload deliveries across the United States and Mexico.
Heartland Express reported revenues of $196.5 million, down 24.4% year on year. This print fell short of analysts’ expectations by 4.4%. Overall, it was a slower quarter for the company with a significant miss of analysts’ revenue and EBITDA estimates.
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. During the third quarter of 2025, we also noted operating ratio improvement in each month as the quarter progressed. We continue to recognize the prolonged and challenged industry-wide operating environment where current capacity continues to outpace weak freight demand and current freight rates have not kept pace with rising operating costs. Despite the operating loss during the quarter, we continue to have positive cash flows from operations. 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. 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.
Heartland Express delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. Interestingly, the stock is up 22.2% since reporting and currently trades at $9.24.
Read our full report on Heartland Express here, it’s free for active Edge members.
Best Q3: Hertz (NASDAQ:HTZ)
Started with a dozen Model T Fords, Hertz (NASDAQ:HTZ) is a global car rental company providing vehicle rental services to leisure and business travelers.
Hertz reported revenues of $2.48 billion, down 3.8% year on year, outperforming analysts’ expectations by 3.1%. The business had a stunning quarter with a beat of analysts’ EPS and EBITDA estimates.
Hertz delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 6.6% since reporting. It currently trades at $5.29.
Is now the time to buy Hertz? Access our full analysis of the earnings results here, it’s free for active Edge members.
Weakest Q3: Universal Logistics (NASDAQ:ULH)
Founded in 1932, Universal Logistics (NASDAQ:ULH) is a provider of customized transportation and logistics solutions operating throughout the United States and in Mexico, Canada, and Colombia.
Universal Logistics reported revenues of $396.8 million, down 7% year on year, falling short of analysts’ expectations by 1%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
The stock is flat since the results and currently trades at $15.39.
Read our full analysis of Universal Logistics’s results here.
ArcBest (NASDAQ:ARCB)
Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ:ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight.
ArcBest reported revenues of $1.05 billion, down 1.4% year on year. This number was in line with analysts’ expectations. Overall, it was a very strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates.
The stock is up 7.7% since reporting and currently trades at $76.89.
Read our full, actionable report on ArcBest here, it’s free for active Edge members.
Old Dominion Freight Line (NASDAQ:ODFL)
With its name deriving from the Commonwealth of Virginia’s nickname, Old Dominion (NASDAQ:ODFL) delivers less-than-truckload (LTL) and full-container load freight.
Old Dominion Freight Line reported revenues of $1.41 billion, down 4.3% year on year. This result met analysts’ expectations. It was a very strong quarter as it also logged a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.
The stock is up 17% since reporting and currently trades at $159.27.
Market Update
The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.
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