Marten Transport Reports Record Annual Income
January 22, 2014
Photo: Evan Lockridge
Refrigerated trucking company Marten Transport has reported the highest net income for any year in its history.
For 2013 it improved 10.6% to $30.1 million, or 90 cents per diluted share, from $27.3 million, or 82 cents per diluted share, in 2012.
For the fourth quarter of 2013, net income decreased to $7.3 million, or 22 cents per diluted share, from $7.7 million, or 23 cents per diluted share, in the fourth quarter of 2012.
Operating revenue for the Wisconsin-based company, consisting of revenue from truckload and logistics operations, decreased slightly to $166.2 million in the fourth quarter of 2013 from $166.4 million in the fourth quarter of 2012, but increased to $659.2 million in 2013 from $638.5 million in 2012.
“These results were earned in a challenging rate environment with significant industry headwinds including higher equipment and maintenance costs, pay inflation to drivers within a contracting driver market and revised hours of service regulations,” said Randolph L. Marten, chairman and CEO. “We continued to grow our business with our total truckload, intermodal and broker loads up 7.5% in the fourth quarter of 2013 and up 10.2% in 2013 over the prior year’s periods, and expect continued growth in 2014, principally with our dedicated truckload, intermodal and Mexico operations.”
He said Marten saw revenue per tractor increase 3.9% in the fourth quarter of 2013 and 3.8% in 2013 over the prior year’s periods.
More details are on the Marten Transport website.