Marten Transport Expands Dry Truckload Operations Into Mexico

Rhea-AI Summary

Marten Transport, Ltd. (Nasdaq: MRTN) has successfully begun transporting dry van products between Mexico and the U.S., with the first load delivered on February 11, 2022. This new service aims to enhance the profitability of Marten’s existing dry truckload operations. The expansion includes new facilities in Dallas, Laredo, and Otay Mesa, broadening their service from current terminals in Atlanta, Kansas City, Tampa, and Phoenix. Marten is recognized for its refrigerated and dry truck transportation, focusing on temperature-sensitive goods across the U.S., Canada, and Mexico.

Positive

• Launch of dry van transportation services between Mexico and the U.S.
• First load delivered on time, indicating operational efficiency.
• Expansion of service capabilities in key U.S. locations, enhancing market reach.

Negative

• None.

MONDOVI, Wis., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) today announced its dry truckload operations have begun hauling dry van products between Mexico and the U.S. with the first load delivering on time, as expected, February 11^th.

This added dry van transportation service solution for Marten’s customers will enhance the already strong profitable growth of both Marten’s dry regional truckload operations and MRTN de Mexico’s refrigerated operations. With these additional services, Marten is broadening its dry truckload operations from the Company’s terminal facilities in Atlanta, Kansas City, Tampa and Phoenix into its Dallas, Laredo, and Otay Mesa facilities.

	Dry Regional Truckload Profitable Growth
						Percentage			Percentage			Percentage
						Increase			Increase			Increase
						Year			Year			Year
						Ended			Ended			Ended
						December 31,			December 31,			December 31,
						2021 vs. 2020			2020 vs. 2019			2019 vs. 2018
	Operating revenue					26.4	%		5.9	%		85.2	%
	Operating revenue, net of fuel surcharges					21.5	%		9.5	%		86.5	%
	Operating income					81.8	%		59.5	%		34.8	%

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across the Company’s five distinct business platforms - Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of Marten’s prospects for future growth and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and in Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS: Tim Kohl, Chief Executive Officer, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.

FAQ

What is the latest news from Marten Transport (MRTN)?

Marten Transport has started hauling dry van products between Mexico and the U.S., with successful delivery of its first load on February 11, 2022.

How will the new services impact Marten Transport's operations?

The new dry van transportation services are expected to enhance the profitability of Marten's existing operations and expand their service capabilities.

What locations are included in Marten Transport's service expansion?

Marten Transport is expanding its operations into Dallas, Laredo, and Otay Mesa, in addition to existing terminals in Atlanta, Kansas City, Tampa, and Phoenix.

What products is Marten Transport focusing on with the new services?

Marten Transport specializes in transporting temperature-sensitive goods, including food, beverages, and consumer packaged goods.