Heartland Express profits up 35% in second quarter

Heartland Express reported sharply higher profits in the second quarter of its fiscal year, as demand for freight services increased.

The North Liberty-based truckload carrier reported net income of $22.5 million for the quarter ended June 30, up from $16.7 million in the year-earlier quarter. Earnings per share increased 38.9 percent to 25 cents from 18 cents in the second quarter of 2010.

Despite the improvements, Heartland Express said earnings were negatively affected by the limited availability of qualified drivers and escalating fuel prices. The average price of diesel fuel nationwide during the quarter was $4.007 per gallon, up 32.3 percent from the same period of 2010.

Heartland Express plans to focus on expense management through fuel surcharges and by reducing idling time and managing fuel purchasing decisions in the upcoming quarters, according to a statement released Tuesday, July 19.