Dive Brief:
- Heartland Express’s Q3 operating ratio improved to 98.7%, compared to 103.7% a year ago, amid a better freight environment, the carrier said in an Oct. 20 earnings release.
- Stronger freight volumes and capacity constraints driving up pricing helped the Iowa-headquartered carrier, CEO Mike Gerdin said in the release. The carrier reversed an operating loss for the quarter from 2025 with $1 million in net income.
- While the improvements in conditions helped with existing core profits, the company projects operations to further improve. Ongoing contract negotiations will be better captured in 2027, Gerdin said.
Dive Insight:
Trucking leaders are continuing to express optimism over new pricing meeting the needs of their operations.
Knight-Swift Transportation Holdings and J.B. Hunt Transport Services both noted on Q3 earnings calls their commitment to seek higher rates, adding that capacity constraints are helping elevate more lucrative standards.
Knight-Swift CEO Adam Miller suggested on the company’s earnings call that double-digit percent increases could occur in early bid season accounts that develop in November. Various factors could curb that, though, such as recent repricing with a customer, he added.
Both Knight-Swift and J.B. Hunt saw momentum with brokerage pricing in Q3, and J.B. Hunt is further repricing in that segment and dedicated, EVP of Sales & Marketing Spencer Frazier said on an earnings call.
“The '26 bid season was a tale of two halves, and we built momentum on pricing as we moved through, especially in the last few months,” J.B. Hunt EVP and President of Intermodal Darren Field also said. “For the overall network, we realized low single-digit increases in pricing during the last bid season and are seeing positive contribution from these pricing actions in our results.”
