Marten Transport (MRTN) Tops Q2 EPS by 10c, Revenues Beat

Marten Transport (NASDAQ: MRTN) reported Q2 EPS of $0.33, $0.10 better than the analyst estimate of $0.23. Revenue for the quarter came in at $212.4 million versus the consensus estimate of $205.37 million.

Chairman and Chief Executive Officer Randolph L. Marten said, “To each of our over 4,100 talented, hard-working drivers, maintenance personnel and employees across all functions and regions, you should be extremely proud of the strong results that you consistently drive, and of the record operating income in the second quarter that you earned. I sure am. Within an environment of significantly fluctuating customer freight volumes, we improved our Truckload miles per tractor by 4.8% over the second quarter of 2019 through our adaptive, continual redeployment of our drivers to match the changing freight demand by lane while minimizing empty miles. We plan on pursuing profitable growth opportunities in the second half of this year. We embrace our responsibility to keep our valued employees 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.”

“I am also pleased to announce this stock split which reflects our continued strong financial condition. The increased number of outstanding shares should increase trading activity, or float, in our common stock while our stockholders benefit from the 50% increase in our quarterly dividend cash payout.”

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

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