Heartland Express Inc. Announces Increase to Driver Pay Package With 5th Driver Pay Increase in Last 6 Years
November 04 2020 - 3:25PM
Heartland Express, Inc. (www.heartlandexpress.com) (Nasdaq: HTLD),
an industry leader in financial performance within the dry van
truckload industry and delivering premium customer service to its
customers, is pleased to announce substantial enhancements to its
driver pay offerings. The announced increases will impact Heartland
Express, Inc. of Iowa, a wholly owned subsidiary of Heartland
Express, Inc. The specifics of the driver pay package are as
follows:
- Rate increases
to drivers as high as 12.2%, depending on driving region and
related home time,
- An average
increase of approximately 6% across the current driver fleet,
- New hire rates
starting as high as $0.56 per mile (1 year of qualified experience,
depending on driving region and related home time) to $0.60 per
mile (10 years of qualified experience, depending on driving region
and related home time),
- Continue to
recognize up to 10 years of verifiable experience for new drivers
joining the Company which we believe is in excess of the industry
average of approximately 5 years for new hires,
- Current Company
driver rates as high as $0.65 per mile based on longevity with the
Company, driving region and related home time,
- Continue to pay
drivers fixed wage increases, for up to 20 years of combined
driving experience,
- Continue to pay
drivers an annual safety bonus of up to $0.03 on all miles driven
plus and an additional $0.05 per mile, for all miles driven in
Northeast United States “Green Zone” and Canadian miles. Both of
these rates are in addition to a driver’s base rate of pay.
Heartland Express Chief Executive Officer Mike
Gerdin, commented on the driver pay increase and ongoing
initiatives of the Company, “As we reflected back on what has
transpired over the course of 2020, and what our drivers have been
through, this pay increase is a sign of appreciation for everything
they have overcome. Their dedication to keep America moving and
maintaining Heartland Express as an industry leader has been
outstanding. With this latest driver pay package, we also wanted to
extend our gratitude to other professional drivers within our
industry should they choose to join the Heartland Express team.
Throughout the volatile times of 2020, our drivers have weathered
the effects of an ongoing global pandemic, numerous natural
disasters, and political unrest to keep America moving in times of
need. Often the unsung hero, but a critical component to America’s
supply chain, our drivers have continued to perform at their very
best throughout these challenging times. Their service is the
underlying cornerstone to our ability to provide premium service to
our customers and maintain our history of financial success over
the long haul. Our customers expect us to deliver and our drivers
have done exactly that through the many obstacles they have faced
this year.”
Heartland Express is an irregular route
truckload carrier based in North Liberty, Iowa. The Company
operates 20 terminals serving customers with shipping lanes
throughout the United States. Heartland focuses on medium to short
haul regional freight, offering shippers industry leading on-time
service so they can achieve their strategic goals for their
customers. More information about Heartland Express can be found on
the company website at www.heartlandexpress.com.
Contact: Heartland Express, Inc.
(319-626-3600)Mike Gerdin, Chief Executive OfficerChris Strain,
Chief Financial Officer
Heartland Express (NASDAQ:HTLD)
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