Marten Transport Announces Fourth Quarter and Year End Results
27 Gennaio 2025 - 10:05PM
Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported net income
of $5.6 million, or 7 cents per diluted share, for the fourth
quarter ended December 31, 2024, compared with $12.4 million, or 15
cents per diluted share, for the fourth quarter of 2023. The 2024
fourth-quarter earnings improved 50.1% sequentially from 2024
third-quarter net income of $3.8 million, or 5 cents per diluted
share. For the year ended December 31, 2024, net income was $26.9
million, or 33 cents per diluted share, compared with $70.4
million, or 86 cents per diluted share, for 2023.
Operating revenue was $230.4 million for the
fourth quarter of 2024 compared with $268.2 million for the fourth
quarter of 2023. Excluding fuel surcharges, operating revenue was
$202.9 million for the 2024 quarter compared with $229.4 million
for the 2023 quarter. Fuel surcharge revenue decreased to $27.6
million for the 2024 quarter from $38.8 million for the 2023
quarter.
Operating revenue was $963.7 million for 2024
compared with $1.131 billion for 2023. Excluding fuel surcharges,
operating revenue was $840.0 million for 2024 compared with $972.0
million for 2023. Fuel surcharge revenue decreased to $123.7
million for 2024 compared with $159.4 million for 2023.
Operating income was $6.7 million for the fourth
quarter of 2024 compared with $15.7 million for the fourth quarter
of 2023. The 2024 fourth-quarter operating income improved 57.6%
from operating income of $4.3 million for the third quarter of
2024.
Operating income was $33.2 million for 2024
compared with $90.1 million for 2023.
Operating expenses as a percentage of operating
revenue were 97.1% for the 2024 fourth quarter and 94.2% for the
2023 fourth quarter. Operating expenses as a percentage of
operating revenue, with both amounts net of fuel surcharges, were
96.7% for the 2024 fourth quarter and 93.2% for the 2023 fourth
quarter – compared with 97.9% for the third quarter of 2024.
Operating expenses as a percentage of operating
revenue were 96.6% for 2024 and 92.0% for 2023. Operating expenses
as a percentage of operating revenue, with both amounts net of fuel
surcharges, were 96.0% for 2024 and 90.7% for 2023.
Executive Chairman Randolph L. Marten stated,
“We are encouraged by this quarter being the first quarter with
sequential improvement in each of our net income, operating income
and operating ratio, net of fuel surcharges, since the second
quarter of 2022, a period that preceded the freight market
recession’s severe inflationary operating costs, freight rate
reductions and freight network disruptions. Our people also drove
sequential increases this quarter in our revenue per tractor, rate
per total mile and miles per tractor within each of our truckload
and dedicated operations.”
“We continue to focus on minimizing the freight
market’s impact on our operations while investing in and
positioning our operations to capitalize on profitable organic
growth opportunities, with fair compensation for our premium
services, across each of our business operations for what comes
next in the freight cycle as the market moves toward
equilibrium.”
Current Investor Presentation
Marten Transport, with headquarters in Mondovi,
Wis., is a multifaceted business offering a network of refrigerated
and dry truck-based transportation capabilities across Marten’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, Mexico and Canada, 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, 2023. 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, Chief Executive Officer,
Doug Petit, 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 |
|
(In thousands, except share information) |
December 31,2024 |
|
December 31,2023 |
|
|
(Unaudited) |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
17,267 |
|
|
$ |
53,213 |
|
|
Receivables: |
|
|
|
|
|
|
|
|
Trade, net |
|
89,992 |
|
|
|
105,501 |
|
|
Other |
|
5,364 |
|
|
|
10,356 |
|
|
Prepaid expenses and other |
|
25,888 |
|
|
|
27,512 |
|
|
Total current assets |
|
138,511 |
|
|
|
196,582 |
|
|
|
|
|
|
|
|
|
|
|
Property and equipment: |
|
|
|
|
|
|
|
|
Revenue equipment, buildings and land, office equipment and
other |
|
1,198,737 |
|
|
|
1,162,336 |
|
|
Accumulated depreciation |
|
(370,124 |
) |
|
|
(370,103 |
) |
|
Net property and equipment |
|
828,613 |
|
|
|
792,233 |
|
|
Other noncurrent assets |
|
1,633 |
|
|
|
1,524 |
|
|
Total assets |
$ |
968,757 |
|
|
$ |
990,339 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
$ |
25,781 |
|
|
$ |
36,516 |
|
|
Insurance and claims accruals |
|
44,246 |
|
|
|
47,017 |
|
|
Accrued and other current liabilities |
|
23,492 |
|
|
|
26,709 |
|
|
Total current liabilities |
|
93,519 |
|
|
|
110,242 |
|
|
Deferred income taxes |
|
107,034 |
|
|
|
122,462 |
|
|
Noncurrent operating lease liabilities |
|
282 |
|
|
|
249 |
|
|
Total liabilities |
|
200,835 |
|
|
|
232,953 |
|
|
|
|
|
|
|
|
|
|
|
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; 81,463,938 shares at December 31,
2024, and 81,312,168 shares at December
31, 2023, issued and outstanding |
|
815 |
|
|
|
813 |
|
|
Additional paid-in capital |
|
52,941 |
|
|
|
49,789 |
|
|
Retained earnings |
|
714,166 |
|
|
|
706,784 |
|
|
Total stockholders’ equity |
|
767,922 |
|
|
|
757,386 |
|
|
Total liabilities and stockholders’ equity |
$ |
968,757 |
|
|
$ |
990,339 |
|
|
|
MARTEN TRANSPORT, LTD.CONSOLIDATED
CONDENSED STATEMENTS OF
OPERATIONS(Unaudited) |
|
|
Three MonthsEnded December 31, |
|
|
YearEnded December 31, |
|
|
(In thousands, except per share information) |
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating revenue |
$ |
230,432 |
|
|
$ |
268,222 |
|
|
$ |
963,708 |
|
|
$ |
1,131,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses (income): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries, wages and benefits |
|
83,009 |
|
|
|
91,350 |
|
|
|
341,732 |
|
|
|
378,818 |
|
|
Purchased transportation |
|
39,231 |
|
|
|
47,259 |
|
|
|
169,142 |
|
|
|
199,334 |
|
|
Fuel and fuel taxes |
|
32,992 |
|
|
|
42,731 |
|
|
|
147,143 |
|
|
|
180,437 |
|
|
Supplies and maintenance |
|
14,331 |
|
|
|
16,120 |
|
|
|
63,337 |
|
|
|
67,411 |
|
|
Depreciation |
|
27,528 |
|
|
|
28,748 |
|
|
|
111,653 |
|
|
|
116,722 |
|
|
Operating taxes and licenses |
|
2,683 |
|
|
|
2,708 |
|
|
|
10,302 |
|
|
|
11,053 |
|
|
Insurance and claims |
|
15,134 |
|
|
|
15,209 |
|
|
|
53,109 |
|
|
|
56,014 |
|
|
Communications and utilities |
|
2,195 |
|
|
|
2,524 |
|
|
|
9,029 |
|
|
|
10,149 |
|
|
Gain on disposition of revenue equipment |
|
(387 |
) |
|
|
(1,802 |
) |
|
|
(4,971 |
) |
|
|
(13,612 |
) |
|
Other |
|
6,989 |
|
|
|
7,718 |
|
|
|
30,012 |
|
|
|
35,019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses |
|
223,705 |
|
|
|
252,565 |
|
|
|
930,488 |
|
|
|
1,041,345 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income |
|
6,727 |
|
|
|
15,657 |
|
|
|
33,220 |
|
|
|
90,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other |
|
(394 |
) |
|
|
(868 |
) |
|
|
(3,126 |
) |
|
|
(3,806 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
7,121 |
|
|
|
16,525 |
|
|
|
36,346 |
|
|
|
93,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes expense |
|
1,488 |
|
|
|
4,126 |
|
|
|
9,424 |
|
|
|
23,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
5,633 |
|
|
$ |
12,399 |
|
|
$ |
26,922 |
|
|
$ |
70,373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share |
$ |
0.07 |
|
|
$ |
0.15 |
|
|
$ |
0.33 |
|
|
$ |
0.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per common share |
$ |
0.07 |
|
|
$ |
0.15 |
|
|
$ |
0.33 |
|
|
$ |
0.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared per common share |
$ |
0.06 |
|
|
$ |
0.06 |
|
|
$ |
0.24 |
|
|
$ |
0.24 |
|
|
|
MARTEN TRANSPORT, LTD. SEGMENT
INFORMATION (Unaudited) |
|
|
Three MonthsEndedDecember 31, |
|
|
DollarChangeThree MonthsEndedDecember 31, |
|
|
PercentageChangeThree MonthsEndedDecember 31, |
|
|
(Dollars in thousands) |
2024 |
|
|
2023 |
|
|
2024 vs. 2023 |
|
|
2024 vs. 2023 |
|
|
Operating revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload revenue, net of fuel surcharge revenue |
$ |
93,106 |
|
|
$ |
95,461 |
|
|
$ |
(2,355 |
) |
|
|
(2.5 |
)% |
|
Truckload fuel surcharge revenue |
|
14,188 |
|
|
|
18,023 |
|
|
|
(3,835 |
) |
|
|
(21.3 |
) |
|
Total Truckload revenue |
|
107,294 |
|
|
|
113,484 |
|
|
|
(6,190 |
) |
|
|
(5.5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dedicated revenue, net of fuel surcharge revenue |
|
64,997 |
|
|
|
77,731 |
|
|
|
(12,734 |
) |
|
|
(16.4 |
) |
|
Dedicated fuel surcharge revenue |
|
11,391 |
|
|
|
17,310 |
|
|
|
(5,919 |
) |
|
|
(34.2 |
) |
|
Total Dedicated revenue |
|
76,388 |
|
|
|
95,041 |
|
|
|
(18,653 |
) |
|
|
(19.6 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermodal revenue, net of fuel surcharge revenue |
|
11,238 |
|
|
|
15,610 |
|
|
|
(4,372 |
) |
|
|
(28.0 |
) |
|
Intermodal fuel surcharge revenue |
|
1,971 |
|
|
|
3,467 |
|
|
|
(1,496 |
) |
|
|
(43.1 |
) |
|
Total Intermodal revenue |
|
13,209 |
|
|
|
19,077 |
|
|
|
(5,868 |
) |
|
|
(30.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage revenue |
|
33,541 |
|
|
|
40,620 |
|
|
|
(7,079 |
) |
|
|
(17.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating revenue |
$ |
230,432 |
|
|
$ |
268,222 |
|
|
$ |
(37,790 |
) |
|
|
(14.1 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income/(loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
$ |
1,821 |
|
|
$ |
2,487 |
|
|
$ |
(666 |
) |
|
|
(26.8 |
)% |
|
Dedicated |
|
4,073 |
|
|
|
9,234 |
|
|
|
(5,161 |
) |
|
|
(55.9 |
) |
|
Intermodal |
|
(1,502 |
) |
|
|
296 |
|
|
|
(1,798 |
) |
|
|
(607.4 |
) |
|
Brokerage |
|
2,335 |
|
|
|
3,640 |
|
|
|
(1,305 |
) |
|
|
(35.9 |
) |
|
Total operating income |
$ |
6,727 |
|
|
$ |
15,657 |
|
|
$ |
(8,930 |
) |
|
|
(57.0 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating ratio: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
|
98.3 |
% |
|
|
97.8 |
% |
|
|
|
|
|
|
|
|
|
Dedicated |
|
94.7 |
|
|
|
90.3 |
|
|
|
|
|
|
|
|
|
|
Intermodal |
|
111.4 |
|
|
|
98.4 |
|
|
|
|
|
|
|
|
|
|
Brokerage |
|
93.0 |
|
|
|
91.0 |
|
|
|
|
|
|
|
|
|
|
Consolidated operating ratio |
|
97.1 |
% |
|
|
94.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating ratio, net of fuel surcharges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
|
98.0 |
% |
|
|
97.4 |
% |
|
|
|
|
|
|
|
|
|
Dedicated |
|
93.7 |
|
|
|
88.1 |
|
|
|
|
|
|
|
|
|
|
Intermodal |
|
113.4 |
|
|
|
98.1 |
|
|
|
|
|
|
|
|
|
|
Brokerage |
|
93.0 |
|
|
|
91.0 |
|
|
|
|
|
|
|
|
|
|
Consolidated operating ratio, net of fuel
surcharges |
|
96.7 |
% |
|
|
93.2 |
% |
|
|
|
|
|
|
|
|
|
|
MARTEN TRANSPORT, LTD.SEGMENT
INFORMATION(Unaudited) |
|
|
YearEndedDecember 31, |
|
|
DollarChangeYearEndedDecember 31, |
|
|
PercentageChangeYearEndedDecember 31, |
|
|
(Dollars in thousands) |
2024 |
|
|
2023 |
|
|
2024 vs. 2023 |
|
|
2024 vs. 2023 |
|
|
Operating revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload revenue, net of fuel surcharge revenue |
$ |
377,452 |
|
|
$ |
395,565 |
|
|
$ |
(18,113 |
) |
|
|
(4.6 |
)% |
|
Truckload fuel surcharge revenue |
|
62,340 |
|
|
|
69,910 |
|
|
|
(7,570 |
) |
|
|
(10.8 |
) |
|
Total Truckload revenue |
|
439,792 |
|
|
|
465,475 |
|
|
|
(25,683 |
) |
|
|
(5.5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dedicated revenue, net of fuel surcharge revenue |
|
267,077 |
|
|
|
334,962 |
|
|
|
(67,885 |
) |
|
|
(20.3 |
) |
|
Dedicated fuel surcharge revenue |
|
52,058 |
|
|
|
73,310 |
|
|
|
(21,252 |
) |
|
|
(29.0 |
) |
|
Total Dedicated revenue |
|
319,135 |
|
|
|
408,272 |
|
|
|
(89,137 |
) |
|
|
(21.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermodal revenue, net of fuel surcharge revenue |
|
49,468 |
|
|
|
75,887 |
|
|
|
(26,419 |
) |
|
|
(34.8 |
) |
|
Intermodal fuel surcharge revenue |
|
9,286 |
|
|
|
16,191 |
|
|
|
(6,905 |
) |
|
|
(42.6 |
) |
|
Total Intermodal revenue |
|
58,754 |
|
|
|
92,078 |
|
|
|
(33,324 |
) |
|
|
(36.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage revenue |
|
146,027 |
|
|
|
165,630 |
|
|
|
(19,603 |
) |
|
|
(11.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating revenue |
$ |
963,708 |
|
|
$ |
1,131,455 |
|
|
$ |
(167,747 |
) |
|
|
(14.8 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income/(loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
$ |
3,283 |
|
|
$ |
24,835 |
|
|
$ |
(21,552 |
) |
|
|
(86.8 |
)% |
|
Dedicated |
|
23,037 |
|
|
|
48,377 |
|
|
|
(25,340 |
) |
|
|
(52.4 |
) |
|
Intermodal |
|
(3,922 |
) |
|
|
(156 |
) |
|
|
(3,766 |
) |
|
|
(2,414.1 |
) |
|
Brokerage |
|
10,822 |
|
|
|
17,054 |
|
|
|
(6,232 |
) |
|
|
(36.5 |
) |
|
Total operating income |
$ |
33,220 |
|
|
$ |
90,110 |
|
|
$ |
(56,890 |
) |
|
|
(63.1 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating ratio: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
|
99.3 |
% |
|
|
94.7 |
% |
|
|
|
|
|
|
|
|
|
Dedicated |
|
92.8 |
|
|
|
88.2 |
|
|
|
|
|
|
|
|
|
|
Intermodal |
|
106.7 |
|
|
|
100.2 |
|
|
|
|
|
|
|
|
|
|
Brokerage |
|
92.6 |
|
|
|
89.7 |
|
|
|
|
|
|
|
|
|
|
Consolidated operating ratio |
|
96.6 |
% |
|
|
92.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating ratio, net of fuel surcharges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Truckload |
|
99.1 |
% |
|
|
93.7 |
% |
|
|
|
|
|
|
|
|
|
Dedicated |
|
91.4 |
|
|
|
85.6 |
|
|
|
|
|
|
|
|
|
|
Intermodal |
|
107.9 |
|
|
|
100.2 |
|
|
|
|
|
|
|
|
|
|
Brokerage |
|
92.6 |
|
|
|
89.7 |
|
|
|
|
|
|
|
|
|
|
Consolidated operating ratio, net of fuel
surcharges |
|
96.0 |
% |
|
|
90.7 |
% |
|
|
|
|
|
|
|
|
|
|
MARTEN TRANSPORT, LTD.OPERATING
STATISTICS(Unaudited) |
|
|
Three MonthsEnded December 31, |
|
|
YearEnded December 31, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
Truckload Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (in thousands) |
$ |
107,294 |
|
|
$ |
113,484 |
|
|
$ |
439,792 |
|
|
$ |
465,475 |
|
|
Average revenue, net of fuel surcharges, per tractor per
week(1) |
$ |
4,227 |
|
|
$ |
4,183 |
|
|
$ |
4,123 |
|
|
$ |
4,377 |
|
|
Average tractors(1) |
|
1,676 |
|
|
|
1,737 |
|
|
|
1,751 |
|
|
|
1,733 |
|
|
Average miles per trip |
|
535 |
|
|
|
533 |
|
|
|
533 |
|
|
|
519 |
|
|
Non-revenue miles percentage(2) |
|
11.8 |
% |
|
|
12.4 |
% |
|
|
12.1 |
% |
|
|
12.4 |
% |
|
Total miles (in thousands) |
|
39,147 |
|
|
|
39,278 |
|
|
|
158,985 |
|
|
|
155,929 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dedicated Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (in thousands) |
$ |
76,388 |
|
|
$ |
95,041 |
|
|
$ |
319,135 |
|
|
$ |
408,272 |
|
|
Average revenue, net of fuel surcharges, per tractor per
week(1) |
$ |
3,841 |
|
|
$ |
3,895 |
|
|
$ |
3,767 |
|
|
$ |
3,936 |
|
|
Average tractors(1) |
|
1,288 |
|
|
|
1,518 |
|
|
|
1,356 |
|
|
|
1,632 |
|
|
Average miles per trip |
|
313 |
|
|
|
335 |
|
|
|
319 |
|
|
|
335 |
|
|
Non-revenue miles percentage(2) |
|
1.5 |
% |
|
|
1.2 |
% |
|
|
1.3 |
% |
|
|
1.2 |
% |
|
Total miles (in thousands) |
|
26,799 |
|
|
|
31,215 |
|
|
|
110,681 |
|
|
|
133,163 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intermodal Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (in thousands) |
$ |
13,209 |
|
|
$ |
19,077 |
|
|
$ |
58,754 |
|
|
$ |
92,078 |
|
|
Loads |
|
3,803 |
|
|
|
5,289 |
|
|
|
16,975 |
|
|
|
25,160 |
|
|
Average tractors |
|
88 |
|
|
|
133 |
|
|
|
110 |
|
|
|
159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (in thousands) |
$ |
33,541 |
|
|
$ |
40,620 |
|
|
$ |
146,027 |
|
|
$ |
165,630 |
|
|
Loads |
|
21,749 |
|
|
|
23,594 |
|
|
|
89,138 |
|
|
|
91,077 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2024 and December 31, 2023: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total tractors(1) |
|
3,006 |
|
|
|
3,349 |
|
|
|
|
|
|
|
|
|
|
Average age of company tractors (in years) |
|
1.9 |
|
|
|
1.9 |
|
|
|
|
|
|
|
|
|
|
Total trailers |
|
5,440 |
|
|
|
5,653 |
|
|
|
|
|
|
|
|
|
|
Average age of company trailers (in years) |
|
5.3 |
|
|
|
4.6 |
|
|
|
|
|
|
|
|
|
|
Ratio of trailers to tractors(1) |
|
1.8 |
|
|
|
1.7 |
|
|
|
|
|
|
|
|
|
|
Total refrigerated containers |
|
786 |
|
|
|
787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three MonthsEnded December 31, |
|
|
YearEnded December 31, |
|
|
(In thousands) |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities |
$ |
23,793 |
|
|
$ |
38,045 |
|
|
$ |
134,814 |
|
|
$ |
164,378 |
|
|
Net cash used for investing activities |
|
(44,891 |
) |
|
|
(48,070 |
) |
|
|
(152,138 |
) |
|
|
(172,540 |
) |
|
Net cash used for financing activities |
|
(4,625 |
) |
|
|
(4,829 |
) |
|
|
(18,622 |
) |
|
|
(19,225 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
81,457 |
|
|
|
81,309 |
|
|
|
81,406 |
|
|
|
81,272 |
|
|
Diluted |
|
81,507 |
|
|
|
81,418 |
|
|
|
81,472 |
|
|
|
81,413 |
|
|
|
|
|
(1) |
Includes tractors driven by both company-employed drivers and
independent contractors. Independent contractors provided 88 and 94
tractors as of December 31, 2024 and 2023, respectively. |
|
(2) |
Represents the percentage of miles for which the company is not
compensated. |
|
Grafico Azioni Marten Transport (NASDAQ:MRTN)
Storico
Da Gen 2025 a Feb 2025
Grafico Azioni Marten Transport (NASDAQ:MRTN)
Storico
Da Feb 2024 a Feb 2025