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Marten Transport, Ltd. (MRTN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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17.11-0.50 (-2.81%)
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Previous Close17.61
Open17.70
Bid16.60 x 800
Ask16.72 x 800
Day's Range16.53 - 17.85
52 Week Range10.67 - 20.13
Volume83,730
Avg. Volume358,111
Market Cap1.415B
Beta (5Y Monthly)1.06
PE Ratio (TTM)21.66
EPS (TTM)0.79
Earnings DateApr 14, 2021 - Apr 19, 2021
Forward Dividend & Yield0.16 (0.89%)
Ex-Dividend DateDec 11, 2020
1y Target Est19.33
  • Marten Transport, Ltd. (MRTN) Q4 Earnings and Revenues Surpass Estimates
    Zacks

    Marten Transport, Ltd. (MRTN) Q4 Earnings and Revenues Surpass Estimates

    Marten Transport, Ltd. (MRTN) delivered earnings and revenue surprises of 9.09% and 1.88%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Benzinga

    Marten Transport: Q4 Earnings Insights

    Shares of Marten Transport (NASDAQ:MRTN) moved higher after the company reported Q4 results. Quarterly Results Earnings per share were down 17.24% over the past year to $0.24, which beat the estimate of $0.22. Revenue of $227,333,000 up by 4.67% from the same period last year, which beat the estimate of $226,800,000. Outlook Earnings guidance hasn't been issued by the company for now. View more earnings on MRTN Revenue guidance hasn't been issued by the company for now. Recent Stock Performance 52-week high: $30.19 52-week low: $15.13 Price action over last quarter: Up 3.73% Company Overview Marten Transport Ltd is a temperature-sensitive truckload carrier in the United States. It is engaged in transporting and distributing food and other consumer packaged goods which requires a temperature-controlled or insulated environment. The company operates through four segments including Truckload, Dedicated, Intermodal, and Brokerage. See more from BenzingaClick here for options trades from BenzingaP/E Ratio Insights for Marten TransportEarnings Scheduled For January 26, 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • GlobeNewswire

    Marten Transport Announces Fourth Quarter and Year End Results

    Reports highest operating revenue and operating income for any quarter and year in Marten’s historyMONDOVI, Wis., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported the highest operating revenue and operating income for any quarter and year in Marten’s history. For the fourth quarter ended December 31, 2020, net income improved 24.5% to $19.6 million, or 24 cents per diluted share, from $15.7 million, or 19 cents per diluted share, for the fourth quarter of 2019. For the year ended December 31, 2020, net income improved 13.8% to $69.5 million, or 84 cents per diluted share, from $61.1 million, or 74 cents per diluted share, for 2019. Operating Results Comparison Percentage Percentage Increase Increase Three Months Year Ended Ended December 31, December 31, 2020 vs. 2019 2020 vs. 2019 Operating revenue4.7% 3.7% Operating revenue, net of fuel surcharges8.8% 6.8% Operating income36.0% 21.9% Net income24.5% 13.8% Operating revenue improved 4.7% to a record $227.3 million for the fourth quarter of 2020 from $217.2 million for the fourth quarter of 2019, and improved 3.7% to a record $874.4 million for 2020 from $843.3 million for 2019. Excluding fuel surcharges, operating revenue improved 8.8% to $207.0 million for the 2020 quarter from $190.2 million for the 2019 quarter, and improved 6.8% to $790.6 million for 2020 from $739.9 million for 2019. Fuel surcharge revenue decreased to $20.4 million for the 2020 quarter from $27.0 million for the 2019 quarter and decreased to $83.8 million for 2020 from $103.4 million for 2019 due to significantly lower fuel prices. Operating income improved 36.0% to a record $25.6 million for the fourth quarter of 2020 from $18.8 million for the fourth quarter of 2019, and improved 21.9% to a record $93.2 million for 2020 from $76.5 million for 2019. Operating expenses as a percentage of operating revenue improved to 88.8% for the fourth quarter of 2020 from 91.3% for the fourth quarter of 2019. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 87.7% from 90.1%. Operating expenses as a percentage of operating revenue improved to 89.3% for 2020 from 90.9% for 2019. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 88.2% from 89.7%. Chairman and Chief Executive Officer Randolph L. Marten said, “Our relentless pursuit of continuous operating improvement just produced the highest operating revenue and operating income for any quarter and year in our 75-year history. Our 2020 operating ratio, net of fuel surcharges, was also the best ratio for any year since we became a public company in 1986. Our 21.9% operating income improvement in 2020 continues the strong growth we achieved in 2019 of 8.7% and in 2018 of 23.7%. Success breeds success, driven by the smart, disciplined work of our talented people.” “We have been increasing and will continue to increase the compensation for our premium services within the tight freight market. We also improved our Truckload miles per tractor by 6.3% in the fourth quarter of 2020 and by 6.2% for the full year by making disciplined data-driven decisions and adjustments utilizing our in-house operating technology. We expect to continue to build on our success in expanding the capacity we provide within our unique multifaceted business model across our diverse customer base by offering the best careers for the industry’s top, experienced drivers.” “We embrace our responsibility to keep our valued drivers, maintenance personnel and employees across all functions and regions safe and healthy as they each contribute to our transporting and distributing the food, beverages and other consumer goods essential to millions of people in North America. This includes our paying $3.4 million in 2020 for medical claims involving COVID-19, pay to employees off-work while recovering from COVID-19, and for safety measures including providing masks and hand sanitizer (purchasing the components, preparing and distributing over 6,000 bottles in March when sanitizer was not available), increasing the frequency and extent of cleaning processes to our facilities and tractors, and modifying our facilities for improved social distancing.” Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across the Company’s five distinct business platforms - Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN. This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of Marten’s prospects for future growth and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and in Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACTS: Tim Kohl, President, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216. MARTEN TRANSPORT, LTD.CONSOLIDATED CONDENSED BALANCE SHEETS December 31, December 31, (In thousands, except share information)2020 2019 (Unaudited) ASSETS Current assets: Cash and cash equivalents$66,127 $31,461 Receivables: Trade, net 83,426 90,712 Other 4,202 11,055 Prepaid expenses and other 21,903 20,938 Total current assets 175,658 154,166 Property and equipment: Revenue equipment, buildings and land, office equipment and other 930,123 904,237 Accumulated depreciation (275,950) (263,843) Net property and equipment 654,173 640,394 Other noncurrent assets 1,805 2,026 Total assets$831,636 $796,586 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$25,702 $22,917 Insurance and claims accruals 39,595 31,729 Accrued and other current liabilities 24,497 21,680 Total current liabilities 89,794 76,326 Deferred income taxes 121,098 122,022 Noncurrent operating lease liabilities 411 649 Total liabilities 211,303 198,997 Stockholders’ equity: Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding - - Common stock, $.01 par value per share; 192,000,000 shares authorized; 82,705,005 shares at December 31, 2020, and 82,055,199 shares at December 31, 2019, issued and outstanding 827 821 Additional paid-in capital 85,070 79,465 Retained earnings 534,436 517,303 Total stockholders’ equity 620,333 597,589 Total liabilities and stockholders’ equity$831,636 $796,586 MARTEN TRANSPORT, LTD. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Three Months Year Ended December 31, Ended December 31, (In thousands, except per share information)2020 2019 2020 2019 Operating revenue$227,333 $217,185 $874,374 $843,271 Operating expenses (income): Salaries, wages and benefits 79,121 72,707 300,155 274,156 Purchased transportation 40,937 41,596 154,613 158,948 Fuel and fuel taxes 24,700 31,437 98,133 121,341 Supplies and maintenance 11,314 11,998 47,815 46,737 Depreciation 25,914 24,842 102,893 95,137 Operating taxes and licenses 2,837 2,678 10,840 10,100 Insurance and claims 12,294 8,846 47,454 38,201 Communications and utilities 2,050 1,908 8,011 7,709 Gain on disposition of revenue equipment (2,834) (3,343) (8,733) (8,680)Gain on disposition of facility - - (1,718) - Other 5,442 5,729 21,665 23,124 Total operating expenses 201,775 198,398 781,128 766,773 Operating income 25,558 18,787 93,246 76,498 Other (13) (262) (140) (1,190) Income before income taxes 25,571 19,049 93,386 77,688 Income taxes expense 5,967 3,301 23,886 16,617 Net income$19,604 $15,748 $69,500 $61,071 Basic earnings per common share$0.24 $0.19 $0.84 $0.75 Diluted earnings per common share$0.24 $0.19 $0.84 $0.74 Dividends declared per common share$0.54 $0.02 $0.633 $0.513 MARTEN TRANSPORT, LTD. SEGMENT INFORMATION (Unaudited) Dollar Percentage Change Change Three Months Three Months Three Months Ended Ended Ended December 31, December 31, December 31, (Dollars in thousands)2020 2019 2020 vs. 2019 2020 vs. 2019 Operating revenue: Truckload revenue, net of fuel surcharge revenue$87,460 $82,991 $4,469 5.4%Truckload fuel surcharge revenue 8,733 12,278 (3,545) (28.9)Total Truckload revenue 96,193 95,269 924 1.0 Dedicated revenue, net of fuel surcharge revenue 71,313 59,570 11,743 19.7 Dedicated fuel surcharge revenue 9,670 11,345 (1,675) (14.8)Total Dedicated revenue 80,983 70,915 10,068 14.2 Intermodal revenue, net of fuel surcharge revenue 20,817 21,132 (315) (1.5)Intermodal fuel surcharge revenue 1,959 3,391 (1,432) (42.2)Total Intermodal revenue 22,776 24,523 (1,747) (7.1) Brokerage revenue 27,381 26,478 903 3.4 Total operating revenue$227,333 $217,185 $10,148 4.7% Operating income: Truckload$11,270 $7,110 $4,160 58.5%Dedicated 9,900 8,110 1,790 22.1 Intermodal 2,166 1,472 694 47.1 Brokerage 2,222 2,095 127 6.1 Total operating income$25,558 $18,787 $6,771 36.0% Operating ratio: Truckload 88.3% 92.5% Dedicated 87.8 88.6 Intermodal 90.5 94.0 Brokerage 91.9 92.1 Consolidated operating ratio 88.8% 91.3% MARTEN TRANSPORT, LTD.SEGMENT INFORMATION(Unaudited) Dollar Percentage Change Change Year Year Year Ended Ended Ended December 31, December 31, December 31, (Dollars in thousands)2020 2019 2020 vs. 2019 2020 vs. 2019 Operating revenue: Truckload revenue, net of fuel surcharge revenue$342,357 $329,304 $13,053 4.0%Truckload fuel surcharge revenue 36,791 48,696 (11,905) (24.4)Total Truckload revenue 379,148 378,000 1,148 0.3 Dedicated revenue, net of fuel surcharge revenue 271,550 223,935 47,615 21.3 Dedicated fuel surcharge revenue 38,234 42,049 (3,815) (9.1)Total Dedicated revenue 309,784 265,984 43,800 16.5 Intermodal revenue, net of fuel surcharge revenue 79,944 77,750 2,194 2.8 Intermodal fuel surcharge revenue 8,789 12,644 (3,855) (30.5)Total Intermodal revenue 88,733 90,394 (1,661) (1.8) Brokerage revenue 96,709 108,893 (12,184) (11.2) Total operating revenue$874,374 $843,271 $31,103 3.7% Operating income: Truckload$39,637 $29,666 $9,971 33.6%Dedicated 40,909 31,245 9,664 30.9 Intermodal 5,730 6,612 (882) (13.3)Brokerage 6,970 8,975 (2,005) (22.3)Total operating income$93,246 $76,498 $16,748 21.9% Operating ratio: Truckload 89.5% 92.2% Dedicated 86.8 88.3 Intermodal 93.5 92.7 Brokerage 92.8 91.8 Consolidated operating ratio 89.3% 90.9% MARTEN TRANSPORT, LTD. OPERATING STATISTICS (Unaudited) Three Months Year Ended December 31, Ended December 31, 2020 2019 2020 2019 Truckload Segment: Revenue (in thousands)$96,193 $95,269 $379,148 $378,000 Average revenue, net of fuel surcharges, per tractor per week(1)$4,116 $3,736 $3,926 $3,797 Average tractors(1) 1,617 1,690 1,668 1,663 Average miles per trip 526 554 547 548 Non-revenue miles percentage(2) 10.4% 12.0% 10.7% 11.6%Total miles (in thousands) 40,185 39,538 165,267 155,177 Dedicated Segment: Revenue (in thousands)$80,983 $70,915 $309,784 $265,984 Average revenue, net of fuel surcharges, per tractor per week(1)$3,350 $3,286 $3,316 $3,378 Average tractors(1) 1,620 1,380 1,566 1,272 Average miles per trip 303 313 305 315 Non-revenue miles percentage(2) 0.7% 0.6% 0.7% 0.7%Total miles (in thousands) 34,044 29,114 132,597 108,814 Intermodal Segment: Revenue (in thousands)$22,776 $24,523 $88,733 $90,394 Loads 8,708 9,731 36,444 36,309 Average tractors 125 107 106 91 Brokerage Segment: Revenue (in thousands)$27,381 $26,478 $96,709 $108,893 Loads 13,928 15,690 58,986 63,200 At December 31, 2020 and December 31, 2019: Total tractors(1) 3,331 3,212 Average age of company tractors (in years) 1.6 1.8 Total trailers 5,395 5,464 Average age of company trailers (in years) 3.0 2.4 Ratio of trailers to tractors(1) 1.6 1.7 Three Months Year Ended December 31, Ended December 31, (In thousands)2020 2019 2020 2019 Net cash provided by operating activities$34,891 $34,439 $189,598 $156,460 Net cash (used for) investing activities (12,577) (42,020) (106,325) (140,509)Net cash (used for) financing activities (44,466) (1,438) (48,607) (41,253) Weighted average shares outstanding: Basic 82,690 82,043 82,527 81,945 Diluted 83,311 82,824 83,164 82,670 (1)Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 143 and 92 tractors as of December 31, 2020 and 2019, respectively. (2)Represents the percentage of miles for which the company is not compensated.