Heartland Express : Second Quarter Earnings Release

NORTH LIBERTY, IOWA - July 28, 2016 - Heartland Express, Inc. (Nasdaq: HTLD) announced today financial results for the three and six months ended June 30, 2016.

Three months ended June 30, 2016 highlights included:

• Net Income of $16.4 million, Earnings per Share of $0.20, and Operating Revenue of $160.8 million,

• Net Income increased 13.8% sequentially to 1st quarter of 2016,

• Operating Ratio of 84.8% and 83.2% Non-GAAP Adjusted Operating Ratio(1).

Six months ended June 30, 2016 highlights included:

• Net Income of $30.7 million, Earnings per Share of $0.37, and Operating Revenue of $323.6 million,

• Cash generated from operations was $77.9 million,

• Cash balance of $77.6 million, a $44.4 million increase since December 31, 2015,

• Operating Ratio of 86.2% and 84.8% Non-GAAP Adjusted Operating Ratio(1).

Heartland Express Chief Executive Officer Michael Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, "Throughout the first half of 2016 we continued to experience downward pressure on freight rates due to the softness in freight volumes resulting from the available capacity in the industry. Typically, freight volumes improve during the second quarter as compared to the first three months of the year but that has not been our experience during 2016 as freight volumes didn't improve until mid-June. During this time, our commitment and dedication to on-time service for our customers has helped carry us through the current freight rate pressures. We remain committed and focused to returning our operating ratio to the low 80's and we've now delivered four consecutive quarters of improvement, excluding gains on disposals of property and equipment, which tend to be volatile based on timing of fleet upgrades. Further, we were able to generate another quarter of solid cash flows from operations, which allowed us to increase our cash reserves and pay for capital expenditures while remaining debt free. This foundation of financial discipline allows us to maintain a fleet of tractors and trailers equipped with the latest technology available in the industry."

Financial Results

Heartland Express ended the second quarter of 2016 with net income of $16.4 million, compared to $23.3 million in the second quarter of 2015. Basic earnings per share were $0.20 during the quarter compared to $0.27 earnings per share in the second quarter of 2015. Operating revenues were $160.8 million, compared to $191.7 million in the second quarter of 2015. Operating revenues for the quarter included fuel surcharge revenues of $15.3 million compared to $25.7 million in the same period of 2015, a $10.4 million decrease. Operating revenues decreased 12.4% excluding the impact of fuel surcharge revenues primarily due to lower miles driven due to softer freight volumes in the second quarter compared to the same period in 2015. Operating income for the three-month period decreased $5.2 million as a result of lower gains on disposal of property and equipment from lower trade volumes. The Company posted an adjusted operating ratio(1) of 83.2% and a 10.2% net margin (net income as a percentage of operating revenues) in the second quarter of 2016 compared to 78.5% and 12.2%, respectively in the second quarter of 2015.

For the six month period ended June 30, 2016, the Company recorded net income of $30.7 million, compared to $40.9 million in the same period of 2015. Basic earnings per share were $0.37 compared to $0.47 earnings per share in the same period of 2015. Operating revenues were $323.6 million, compared to

$379.2 million in the same period of 2015. Operating revenues included fuel surcharge revenues of $28.4 million compared to $51.8 million in the same period of 2015, a $23.4 million decrease. Operating revenues

decreased 9.9% excluding the impact of fuel surcharge revenues. Operating income for the six-month period decreased $14.0 million as a result of lower gains on disposal of property and equipment from lower trade volumes. The Company posted an adjusted operating ratio(1) of 84.8% and a 9.5% net margin (net income as a percentage of operating revenues) in the six months ended June 30, 2016 compared to 80.5% and 10.8%, respectively in 2015.

Balance Sheet, Liquidity, and Capital Expenditures

At June 30, 2016, the Company had $77.6 million in cash balances and no borrowings under the Company's unsecured line of credit. The Company had $194.5 million in available borrowing capacity on the line of credit at June 30, 2016 after consideration of outstanding letters of credit. The Company continues to be in compliance with associated financial covenants. The Company ended the quarter with total assets of

$742.1 million and stockholders' equity of $483.3 million.

Net cash flows from operations for the first six months of 2016 were $77.9 million. The primary use of cash during the six month period ended June 30, 2016 was $15.6 million for equipment purchases, $14.7 million for stock repurchases and $3.3 million for dividends. The average age of the Company's tractor fleet was

Adjusted operating ratio is a non-GAAP financial measure and is not intended to replace financial measures calculated in accordance with GAAP. This non-GAAP financial measure supplements our GAAP results. We believe that using this measure affords a more consistent basis for comparing our results of operations from period to period. The information required by Item 10(e) of Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934 and Regulation G under the Securities Exchange Act of 1934, including a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP, is included in the table at the end of this press release.

This press release may contain statements that might be considered as forward-looking statements or predictions of future operations. Such statements are based on management's belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties.

Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission.

Contact: Heartland Express, Inc.

Mike Gerdin, Chief Executive Officer or John Cosaert, Chief Financial Officer 319-626-3600

(In thousands, except per share amounts) (unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

Weighted average shares outstanding