Marten Transport

Marten revenue up, but net income growth lowest in over 2 years

Truckload carrier Marten Transport brought in a lot more revenue in the fourth quarter of 2022 compared to a year earlier but posted a much smaller gain in net income.

Net of fuel, operating revenue at Marten (NASDAQ: MRTN) rose 15.8%, though total operating revenue, which included fuel, climbed 20.9%, to $322.6 million from $266.9 million in the fourth quarter of 2021. Operating income rose to $32.78 million from $30.67 million, and after taxes and other charges last quarter of about $500,000,...

https://www.freightwaves.com/news/marten-revenue-up-but-net-income-growth-lowest-in-over-2-years

Marten’s Q3 mixed compared to year ago but slows from Q2

Marten Transport’s earnings, the first out of the gate for truckload carriers, showed some signs of the market weakness that is evident in growing capacity and falling rates, but they weren’t quite flashing red.

Some operating comparisons to the third quarter of 2021 were flat to weaker depending on the segment. There also was some sequential data from the second quarter reflecting lower numbers, though in a business as seasonal as trucking, sequential numbers have their shortcomings. 

For the...

https://www.freightwaves.com/news/martens-q3-mixed-compared-to-year-ago-but-slows-from-q2

Refrigerated carrier Marten posts record results in Q2

A Marten tractor and trailer on the highway

Refrigerated carrier Marten Transport achieved another record financial performance during the second quarter of 2022. After the market closed on Monday, the company reported revenue and earnings per share well ahead of consensus expectations.

Second-quarter consolidated revenue of $330 million was 42% higher year over year and 12% better than the consensus estimate. Diluted EPS of 39 cents was 13 cents higher y/y and 6 cents better than analysts had forecast.

A news release credited the...

https://www.freightwaves.com/news/refrigerated-carrier-marten-posts-record-results-in-q2

CPG margin pressure no longer surprises Wall Street

Procter & Gamble highlights the combination of commodity, freight and foreign exchange as having a combined 22% headwind on core EPS in its fiscal 2022 (ending June 30). The company’s organic sales grew 10% in its just-reported fiscal Q3 2022, broken down into pricing, volume and sales mix contributing 5, 3 and 2 points, respectively. Despite 5% higher prices and 170 basis points in productivity savings, the company’s core gross margin contracted 400 bps. The implication is that the company’s...

https://www.freightwaves.com/news/cpg-margin-pressure-no-longer-surprises-wall-street

Truckload carrier Marten racks up records in strong Q1

Marten truck

Marten Transport had a record-breaking first quarter, with all-time highs in several key categories. 

Operating revenue was a record at $287.3 million, up 28.8% from the first quarter of 2021, but it was boosted significantly by fuel surcharge revenue, which came in at $42 million. That was up from $24.9 million from the prior year.

Most significantly, Marten’s (NASDAQ: MRTN) operating ratio net of fuel surcharges came in at 85.4%, according to an investors slide released by the company in...

https://www.freightwaves.com/news/truckload-carrier-marten-racks-up-records-in-strong-q1

Marten’s metrics and bottom line improved in 4th quarter of 2021

Marten rode a significant increase in total fourth-quarter revenue to offset higher salaries and purchased transportation costs, resulting in a 20% increase in operating income and a 26.1% improvement in net income compared to the corresponding quarter of 2020.

After relatively constrained increases in operating income in the second and third quarters, compared to the corresponding quarters of the prior year, the fourth-quarter performance marked a bounce back. Operating income at Marten (NASDAQ:...

https://www.freightwaves.com/news/martens-metrics-and-bottom-line-improved-in-4th-quarter-of-2021

6 lessons learned about cybersecurity and freight in 2021

An illustration of a hacker holding a laptop with a tractor trailer to the right.

It was once again another rough year for cybersecurity and freight. The main reason: ransomware attacks, in which criminals encrypt data and demand payment, sometimes in the millions of dollars, in exchange for unlocking it. Even though the U.S. government has been taking an increasingly aggressive approach to fighting ransomware, the attacks have continued. They hit companies across the supply chain, including trucking, logistics, freight factoring, freight forwarding — and even fuel...

Cybercriminals selling access to shipping, logistics firm networks, report warns

A container ship travels on the water to illustrate an article about cybercriminals selling access to shipping firms

Cybercriminals have attempted to sell network access to multiple transportation, logistics and shipping companies in recent months, highlighting the risk of devastating ransomware attacks in the supply chain, a new report warns. 

Intel 471, a cybercrime intelligence firm, observed seven instances since July of brokers advertising network credentials or other types of network access. The companies affected consist of a Japanese container shipping provider, a U.S. transportation management and...

https://www.freightwaves.com/news/cybercriminals-selling-access-to-shipping-logistics-firm-networks-report-warns

Marten Transport discloses cyberattack, warns employee data could be at risk

A tractor-trailer of Marten Transport travels on a highway with mountains in the background.

Wisconsin-based trucking company Marten Transport has confirmed it was the victim of a cyberattack earlier in October and warned that employee data could have been compromised, according to a Securities and Exchange Commission filing on Wednesday.

Marten said in the filing that the company detected the attack on Oct. 3 and were accessed and encrypted as part of the incident. It came three days after a cybercriminal group posted a claim — which was quickly taken down — to the dark web alleging...

https://www.freightwaves.com/news/marten-transport-discloses-cyberattack-warns-employee-data-could-be-at-risk

Marten brokerage unit’s strong performance contrasts with sluggish truckload results

Marten Transport reported improved earnings for the third quarter but most of it came from an unusual place: its brokerage division. 

In a quarter in which truckload carriers Heartland Express (NASDAQ: HTLD) and P.A.M. Transport (NASDAQ: PTSI) both reported operating ratios less than 80%, the truckload OR at Marten (NASDAQ: MRTN) improved just slightly, to 88.3% from 88.7% in the third quarter of 2020. Its dedicated division did significantly worse, declining to 89.6% from 85.9% a year ago. 

And...

https://www.freightwaves.com/news/marten-brokerage-units-strong-performance-contrasts-with-sluggish-truckload-results

+ More