Marten Transport earnings skyrocket in first half 2015

The temperature-sensitive truckload carrier reported net income increased 40.4 percent in the first half of 2015 compared to the first half of 2014.    Marten Transport reported net income reached $8.4 million for the second quarter of 2015 and $18.5 million for the first six months of 2015, up 5.4 percent and 40.4 percent year-over-year, respectively, according to the company’s most recent unaudited financial statements.
   The company increased diluted earnings per share from $0.24 to $0.25 per diluted share in the second quarter of 2015, compared to last year’s second quarter. On a half-year basis, Marten Transport drastically increased diluted earnings per share from $0.39 to $0.55 per diluted share. Results for the first six months of 2015 included a $3.7 million gain on the disposition of a facility as part of the company’s expansion plan.
   Total operating revenues at the company reached $163.6 million for the second quarter of 2015 and $324.9 million for the first six months of 2015, down 2.9 percent and 0.9 percent, respectively.
   The operating revenues, net of fuel surcharges, reached $143.9 million for the second quarter of 2015 and $284.6 million for the first six months of 2015, up 6.1 percent and 8.1 percent, respectively.
   “We are encouraged by our continued growth in both our profitability and tractor fleet size, with our average truckload and dedicated tractor count up 201 tractors, or 9.2%, over last year’s second quarter,” Marten Transport Chairman and CEO Randolph L. Marten said in a statement. “Looking forward to the third quarter and beyond, we secured multi-year dedicated contracts for an additional 279 tractors in this year’s second quarter.”
   Marten Transport is a temperature-sensitive truckload carrier that operates in the United States, Canada and Mexico.