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Sep 30, 2021
Marten Transport Q3 2021 Earnings Report
Reported a 17.9% improvement in net income and a 16.3% increase in operating revenue compared to the same quarter last year.
Key Takeaways
Marten Transport reported a strong third quarter with a 17.9% increase in net income to $21.3 million and a 16.3% increase in operating revenue to $251.3 million compared to the third quarter of 2020.
Net income improved by 17.9% to $21.3 million, or 26 cents per diluted share.
Operating revenue increased by 16.3% to $251.3 million.
Operating income improved by 16.8% to $28.5 million.
The company increased its number of refrigerated containers by 53 during the third quarter, expanding its fleet to 607 containers.
Forward Guidance
Marten is confident in their ability to continue to deliver profitable growth.
Positive Outlook
- Talented and dedicated people continue to drive consistent profitable growth.
- Emphasis on structurally improving drivers’ jobs and work-life balance by collaborating with customers, while also increasing driver compensation.
- Approach is working despite the unrelenting national shortage of qualified drivers.
- Began the fourth quarter with 181 more of the industry’s top drivers than we employed at the beginning of the third quarter.
- Success breeds success.
Historical Earnings Impact
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