Marten Transport’s net income falls 19.6% in Q1

However, the temperature-sensitive truckload carrier’s operating revenues inched up 0.4 percent year-over-year for the quarter to $161.9 million, despite significantly lower fuel surcharges.    Mondovi, Wis.-based temperature-sensitive truckload carrier Marten Transport, Ltd. had a net income of $8.2 million for the first quarter of 2016, a 19.6 percent decline from the first quarter of 2015, according to the company’s most recent unaudited financial statements.
   Basic earnings per share for the quarter totaled $0.25 per share, down from $0.30 per share for the first quarter of 2015.
   However, Marten Transport’s operating revenues inched up 0.4 percent year-over-year for the quarter to $161.9 million, despite significantly lower fuel surcharges from decreased fuel prices in 2016.
   “We successfully grew our average number of truckload and dedicated tractors by 384 tractors, or 16.5%, year over year, and paid off our December 31, 2015 debt balance of $37.9 million during the quarter,” Marten Transport Chairman and CEO Randolph L. Marten said. “We believe that we are well-positioned to profitably capitalize on further growth opportunities within each of our transportation service platforms in 2016.”
   Founded in 1946, Marten Transport currently offers service throughout the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers.