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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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