Heartland Express Inc (HTLD)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	359,311	437,067	439,321	390,988	314,008	252,736	203,153	192,071	191,865	318,931	327,907	334,218	340,174	351,612	340,994	334,116	327,637	307,413	312,048	312,888
Revenue (ttm)	US$ in thousands	1,207,458	1,287,007	1,265,957	1,147,609	967,968	761,214	639,850	606,157	607,284	614,931	624,601	631,373	645,289	656,727	642,353	623,597	596,815	576,591	579,962	593,644
Gross profit margin		29.76%	33.96%	34.70%	34.07%	32.44%	33.20%	31.75%	31.69%	31.59%	51.86%	52.50%	52.94%	52.72%	53.54%	53.09%	53.58%	54.90%	53.32%	53.80%	52.71%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $359,311K ÷ $1,207,458K
= 29.76%

Heartland Express, Inc. has shown a consistent and high gross profit margin in the range of 89.92% to 100% over the past eight quarters. This indicates that the company is effectively managing its production costs and selling its products at a significantly higher price than the cost of producing them. The slight fluctuation in the gross profit margin from 99.47% to 100% in Q1 to Q4 2023 may suggest stable pricing strategies and operational efficiency. The improvement in gross profit margin from 89.92% in Q1 2022 to 100% in Q4 2023 indicates a positive trend in the company's profitability and financial performance. Overall, Heartland Express, Inc. has maintained a strong gross profit margin, reflecting its ability to generate revenue efficiently.