Marten Transport

The Daily Dash: TRATON to acquire Navistar; early earnings disappoint

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Volkswagen’s truck division TRATON has formally agreed to acquire Navistar. Plus, carriers remain firmly in charge when it comes to rates and the first truckload earnings are out and they are not as good as expected.

A marriage made in truck heaven

TRATON has formally agreed to acquire U.S. truck maker Navistar, concluding a nearly yearlong saga that was first rumored years ago.

Alan Adler has the...

https://s29755.pcdn.co/news/the-daily-dash-traton-to-acquire-navistar-early-earnings-disappoint

First 3Q earnings report is from Marten and it isn’t a blockbuster

FreightWaves’ initial coverage of Marten earnings can be found here.

With Marten Transport’s earnings taking the role of first out of the box this quarter, the numbers show a quarter with some strength but one that overall didn’t significantly exceed what happened last year, despite all the talk about how strong the freight market is. 

Investors didn’t like what they heard. At approximately 5:30 p.m. EDT, Marten’s stock was down 7.88% from Thursday’s close to $16.60. 

Marten did keep its costs...

https://www.freightwaves.com/news/first-3q-earnings-report-is-from-marten-and-it-isnt-a-blockbuster

News Alert: Marten shows big jump in truckload OR, sluggish growth in TL revenue

Marten Transport, the first publicly traded truckload carrier to report third-quarter earnings, saw a significant improvement in operating ratio in its key divisions, though truckload revenue rose by a relatively small amount.

As the first company to report Thursday, Marten’s numbers might be looked at as a signal to how other trucking companies did in the third quarter.

Truckload revenue of $85 million was up only $2.1 million from the third quarter of 2019. That is a gain of 2.5%.

But dedicated...

https://www.freightwaves.com/news/news-alert-marten-shows-big-jump-in-truckload-or-sluggish-growth-in-tl-revenue

Table set for 3Q truckload earnings blowout

Unidentified truck on highway

The rubber will soon meet the road for trucking companies. After a couple of months of improving data points, positive commentary from management and analysts raising their earnings expectations, the third-quarter earnings season kicks off later this week. Temperature-controlled truckload (TL) carrier Marten Transport (NASDAQ: MRTN) is first up with results on Thursday, followed by J.B. Hunt Transport Services (NASDAQ: JBHT) on Friday.

Favorable data points throughout the third quarter

After a...

https://s29755.pcdn.co/news/table-set-for-3q-truckload-earnings-blowout

The Daily Dash: Freight volumes, capacity and earnings remain strong

The Daily Dash is a quick look at what is happening today in the state of freight.

Freight volumes remain strong through July 

There was little evidence that freight volumes would weaken beyond the Fourth of July holiday peak — and this bullish outlook proved correct. The outbound tender volume index (OTVI) remains strong after the traditional holiday peak and finished this week 25% above 2019 volumes. Truck capacity remains tight. Tender rejections climbed again this week and are now at 16.55%. 

S...

https://s29755.pcdn.co/news/the-daily-dash-freight-volumes-capacity-and-earnings-remain-strong

Truckload earnings have good start, Cass data still ‘lagging’

Truck on highway with intermodal train in the background

The Cass Freight Index recorded sequential improvement from May to June, but the year-over-year declines remain large.

The June shipments component of the index was up 3.5% from May with freight expenditures improving 6.4%. However, the year-over-year declines for shipments (-17.8%) and expenditures (-18.3%) keep the indexes below pre-pandemic levels.

Chart: Cass Shipments – Cass Information Systems, Inc and Stifel research

“We were thinking the June rebound would have been stronger, based on what...

https://s29755.pcdn.co/news/truckload-earnings-have-good-start-cass-data-still-lagging

Marten, Heartland stock prices get boost after strong quarters

Tightened capacity seen as a spur to both Heartland and Marten beating estimates, with optimism from analysts going forward

The earnings reports of truckload carriers Heartland Express and Marten Transport released on Thursday, July 16 continued to resonate with investors a day later, with the stock prices of both companies recording significant gains. 

At approximately 11:50 a.m. EDT, Marten had risen $2.47 per share to $29.43, a gain of 9.16%. It has traded Friday in excess of $30. 

While its...

https://s29755.pcdn.co/news/marten-heartland-stock-prices-get-boost-after-strong-quarters

Marten rides dedicated division to a strong quarter

Marten Transport has reported a strong second quarter, with a significant operating ratio increase in both its dedicated and truckload segments.  

The improvement in OR for the company overall was 250 basis points to 88.1% from 90.6%. The gains in the company’s truckload and dedicated divisions were offset in part by deterioration in the company’s intermodal and brokerage divisions. The truckload OR was up to 88.3% from 91.6%, or 330 basis points, while dedicated rose to 84.8% from 88.5%, 270...

https://www.freightwaves.com/news/marten-rides-dedicated-division-to-a-strong-quarter

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