Marten Transport increases earnings, revenues in Q2 2017

The Mondovi, Wis.-based temperature-sensitive truckload carrier recorded a net income of $9.1 million and operating revenues of $171.5 million for the quarter, up 7.2 percent and 3.3 percent year-over-year, respectively.    Temperature-sensitive truckload carrier Marten Transport, Ltd. had a net income of $9.1 million for the second quarter of 2017, up 7.2 percent year-over-year, the company said.
   Earnings per share (ESPS) totaled $0.17, up from $0.16 per share from last year’s second quarter.
   Operating revenues rose 3.3 percent year-over-year during the quarter to $171.5 million.
   Martin Transport’s dry freight services are expanding, with 933 dry trailers operating as of June 30, the company said.
   “The company remains debt free and still has one of the youngest fleets out of the public companies – giving it ample financial flexibility to grow,” investment bank Stifel said.
   Stifel increased its EPS estimates for Marten Transport from $0.60 to $0.62 for 2017, from $0.66 to $0.68 for 2018, and from $0.73 to $0.75 for 2019.
   Based out of Mondovi, Wis., Marten Transport offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers.