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Marten Transport (MRTN) Tops Q4 EPS by 2c, Revenues Beat

January 26, 2021 4:08 PM EST

Marten Transport (NASDAQ: MRTN) reported Q4 EPS of $0.24, $0.02 better than the analyst estimate of $0.22. Revenue for the quarter came in at $227.3 million versus the consensus estimate of $226.8 million.

Chairman and Chief Executive Officer Randolph L. Marten said, “Our relentless pursuit of continuous operating improvement just produced the highest operating revenue and operating income for any quarter and year in our 75-year history. Our 2020 operating ratio, net of fuel surcharges, was also the best ratio for any year since we became a public company in 1986. Our 21.9% operating income improvement in 2020 continues the strong growth we achieved in 2019 of 8.7% and in 2018 of 23.7%. Success breeds success, driven by the smart, disciplined work of our talented people.”

“We have been increasing and will continue to increase the compensation for our premium services within the tight freight market. We also improved our Truckload miles per tractor by 6.3% in the fourth quarter of 2020 and by 6.2% for the full year by making disciplined data-driven decisions and adjustments utilizing our in-house operating technology. We expect to continue to build on our success in expanding the capacity we provide within our unique multifaceted business model across our diverse customer base by offering the best careers for the industry’s top, experienced drivers.”

“We embrace our responsibility to keep our valued drivers, maintenance personnel and employees across all functions and regions safe and healthy as they each contribute to our transporting and distributing the food, beverages and other consumer goods essential to millions of people in North America. This includes our paying $3.4 million in 2020 for medical claims involving COVID-19, pay to employees off-work while recovering from COVID-19, and for safety measures including providing masks and hand sanitizer (purchasing the components, preparing and distributing over 6,000 bottles in March when sanitizer was not available), increasing the frequency and extent of cleaning processes to our facilities and tractors, and modifying our facilities for improved social distancing.”

For earnings history and earnings-related data on Marten Transport (MRTN) click here.



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