Fuel surcharge allowed Heartland Express to shift gears, keep on trucking
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North Liberty-based trucking company Heartland Express Inc. experienced a decrease in freight revenues in 2008 but more than made up the difference with income from a fuel surcharge.
According to the company’s annual report filed with the Securities and Exchange Commission, Heartland’s operating revenues for 2008 were $625.6 million, an increase of $33.7 million, or 5.7 percent, compared with 2007. Freight revenues were down $10.5 million from a year earlier, but fuel surcharge revenues were $44.2 million higher.
The company said salaries, wages, and benefits increased 0.9 percent in 2008. That was the net result of a decrease in driver wages of $2.6 million, a $1 million increase in office and shop wages, a $2.1 million increase in workers’ compensation, a $1.4 million increase in health insurance and a decrease in other benefits and payroll taxes of $0.2 million.