Heartland Express to buy 1,000 new trailers in 2012

Heartland Express, which completed an upgrade of its tractor fleet last quarter, plans to buy 1,000 new trailers during 2012.

The North Liberty-based company will take delivery of 1,000 new Wabash trailers during the year as it sells its remaining 2002 through 2006 trailers, the company said in a regulatory filing last week.

A strong market for used trailers will provide a boost to the fleet upgrade, the company said.

Heartland Express was already modernizing its trailer fleet, which has an average age of 4.1 years compared to 5.7 years on March 31, 2011.

A strong cash position and improved earnings has allowed the company to have one of the most modern truck and trailer fleets.

Heartland reported revenues up 5.6 percent to $134.8 million and net income up 11.5 percent to $16.6 million in the quarter ending March 31. Earnings per share increased 18.8 percent, to 19 cents.