Lower Gains On Sale Weigh On Results At Heartland Express Iowa-based truckload (TL) carrier Heartland Express, Inc. (NASDAQ: HTLD ) generated better than expected results during the first quarter of 2020. The carrier's $0.16 earnings per share was $0.03 ahead of the consensus estimate. "Our operating results for the three months ended March 31, 2020 showed strength in terms of profit and overall operating efficiency during these challenging times we face currently as a company and a country," said Heartland Express CEO Mike Gerdin in the press release. Of note, the company's financial results had a headwind in the form of a loss on equipment sales. In the first quarter, Heartland Express incurred a $229,000 loss replacing tractors and trailers. Typically, this line item provides Heartland Express and other carriers with gains on sale, booked as an offset to operating expenses, from the disposal of equipment. In the past, these gains have lowered expenses by a few million dollars. However, prices for used trucks have fallen significantly after record purchasing of new tractors through and after the freight peak of 2018.