Marten Transport Ltd - MRTN STOCK NEWS

Marten Transport, Ltd. (Nasdaq/GS:MRTN) declares a regular quarterly cash dividend of $0.06 per share, marking its 53rd consecutive quarterly cash dividend. The company has paid a total of $227.2 million in cash dividends, including special dividends totaling $134.9 million since 2010. Marten Transport is a leading temperature-sensitive truckload carrier specializing in transporting food, beverages, and other consumer packaged goods.

Marten Transport, Ltd. (MRTN) reported a net income of $22.5 million, or 28 cents per diluted share, for Q1 2023, down from $27.5 million or 33 cents per diluted share in Q1 2022. Despite a 3.7% increase in operating revenue to $298 million, operating income fell to $29 million, compared to $35.9 million in the previous year. Operating expenses rose as a percentage of revenue to 90.3%, compared with 87.5% a year prior. Fuel surcharge revenue also saw a slight increase, reaching $43.1 million. Executive Chairman Randolph L. Marten noted the challenges posed by severe winter weather and a softened freight market, but expressed confidence in the company’s growth strategies through its five business platforms.

Marten Transport, Ltd. (Nasdaq/GS:MRTN) has declared a quarterly cash dividend of $0.06 per share, payable on March 31, 2023, to stockholders of record by the close of business on March 17, 2023. This marks Marten's 51st consecutive quarterly dividend, contributing to a total of $217.5 million paid in cash dividends since the program was launched in 2010. The company is recognized as a leading temperature-sensitive truckload carrier in the U.S., focusing on refrigerated and dry freight transportation across its five business platforms, including services in the U.S., Mexico, and Canada.

Marten Transport reported a net income increase of 3.2% to $25.5 million for Q4 2022, continuing its sixteenth consecutive quarter of year-over-year profit growth. For the year, net income rose 29.2% to $110.4 million, with $1.264 billion in total operating revenue, marking the highest revenue in Marten's history. Operating income also improved by 28.3% to $143.3 million. The company achieved the best operating ratio since going public in 1986, at 86.4% for 2022. Fuel surcharge revenue was significantly higher, reflecting rising fuel prices, yet operating expenses as a percentage of revenue remained stable.

Marten Transport, Ltd. (Nasdaq/GS:MRTN) has announced a quarterly cash dividend of $0.06 per share, payable on December 27, 2022. This marks the company's 50th consecutive quarterly dividend, contributing to a total of $212.6 million paid since the inception of its dividend program in 2010. Marten specializes in temperature-sensitive transportation across the U.S., Mexico, and Canada, focusing on expedited services for high-volume customers. The company remains a leader in the truckload sector.

Marten Transport, Ltd. (MRTN) reported a robust 20.6% year-over-year increase in net income for Q3 2022, reaching $25.6 million, or 32 cents per diluted share. For the first nine months, net income rose 39.8% to $84.8 million. Operating revenue surged 29.1% to $324.4 million, with a notable 21.8% increase when excluding fuel surcharges. Operating income also improved by 18.5% to $33.8 million. Despite challenges like Hurricane Ian and rail service issues, the company continues its strong fleet growth, increasing its driver count by 22.6% since mid-2021.