Marten Transport, Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 25, 2024 at 04:08 pm EST
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Marten Transport, Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 268.22 million compared to USD 322.58 million a year ago. Net income was USD 12.4 million compared to USD 25.51 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.31 a year ago.
For the full year, sales was USD 1,131.46 million compared to USD 1,263.88 million a year ago. Net income was USD 70.37 million compared to USD 110.35 million a year ago. Basic earnings per share from continuing operations was USD 0.87 compared to USD 1.35 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 1.35 a year ago.
Marten Transport, Ltd. provides temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Its segments include Truckload, Dedicated, Intermodal and Brokerage. Truckload segment provides a combination of regional short-haul and medium-to-long-haul full-load transportation services. Dedicated segment provides customized transportation solutions utilizing temperature-controlled trailers, dry vans and other specialized equipment within the United States. Intermodal segment transports its customers freight within the United States, utilizing its refrigerated containers on railroad flatcars for portions of trips, with the balance of the trips using its tractors or, to a lesser extent, contracted carriers. Brokerage segment develops contractual relationships with and arranges for third-party carriers to transport freight for its customers.
MARTEN TRANSPORT, LTD. 
