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Sep 30, 2022
Marten Transport Q3 2022 Earnings Report
Net income improved by 20.6% marking the fifteenth consecutive quarter of year-over-year profit growth.
Key Takeaways
Marten Transport reported a 20.6% increase in net income for Q3 2022, reaching $25.6 million, or 32 cents per diluted share, compared to $21.3 million, or 26 cents per diluted share, in Q3 2021. Operating revenue increased by 29.1% to $324.4 million.
Net income increased by 20.6% compared to Q3 2021.
Operating revenue grew by 29.1% year-over-year.
Excluding fuel surcharges, operating revenue improved by 21.8%.
The company overcame the negative effects of Hurricane Ian and a decrease in intermodal volumes.
Marten Transport
Marten Transport
Marten Transport Revenue by Segment
Revenue by Segment
Truckload Revenue
CapyFin.comDedicated Revenue
CapyFin.comIntermodal Revenue
CapyFin.comBrokerage Revenue
CapyFin.com Forward Guidance
The company continues to drive fleet growth by focusing on improving drivers' jobs and work-life balance and increasing driver compensation.
Positive Outlook
- Strong fleet growth due to emphasis on improving drivers' jobs.
- Collaboration with customers to improve work-life balance for drivers.
- Increased driver compensation.
- Momentum from fleet growth expected in coming quarters.
- Increased number of drivers by 621 since June 30, 2021.
Challenges Ahead
- Significantly less gain on disposition of revenue equipment.
- Negative effect of Hurricane Ian on Southeast operations.
- Decrease in intermodal volumes and margins.
- Weakness in rail service.
- Threat of a rail labor strike in mid-September.
Revenue & Expenses
Visualization of income flow from segment revenue to net income