NASDAQ$MRTN
Marten Transport Ltd · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a decrease in net income and operating revenue due to weak demand, reduced freight rates, and inflationary operating costs.
Marten Transport reported a decrease in net income to $13.6 million, or 17 cents per diluted share, for the third quarter ended September 30, 2023, compared to $25.6 million, or 32 cents per diluted share, for the third quarter of 2022. Operating revenue also decreased to $279.5 million from $324.4 million in the same quarter last year. The company faced pressure from industry-wide weak demand, reduced freight rates, and inflationary operating costs.
- Net income decreased to $13.6 million, or 17 cents per diluted share, compared to $25.6 million, or 32 cents per diluted share in Q3 2022.
- Operating revenue decreased to $279.5 million compared to $324.4 million in Q3 2022.
- Excluding fuel surcharges, operating revenue was $239.1 million compared to $269.3 million in Q3 2022.
- The company is focused on minimizing the impact of the current freight market and positioning its premium service solutions for profitable organic growth.
Headline financials
Revenue & EPS history
Marten Transport · Revenue · Quarterly
$280M
Revenue by segment
Marten Transport · $298M total across 4 segments · Q1 2023
- Truckload$159M—53.3%
- Dedicated$88.4M—29.7%
- Brokerage$37.8M—12.7%
- Intermodal$13.1M—4.4%
Forward guidance
Marten Transport is focused on minimizing the current freight market’s impact on operations, and investing in and positioning their premium service solutions to capitalize on profitable organic growth opportunities as the market recovers.
Tailwinds
- Positioning for profitable organic growth
- Investing in premium service solutions
- Focus on fair compensation for services
- Minimizing freight market impact
- No rate reductions since early August
Headwinds
- Weak demand
- Reduced freight rates
- Inflationary operating costs
- Freight market recession
- Increased mile-adjusted net fuel expense
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.4%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+3.1%
Avg return
30 days after
45%
30 / 66 earnings
Positive
+16.6%
Q2 2022
Best reaction
-10.7%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.0% | +0.5% | +12.5% | |
| Q4 2025 | +0.1% | +7.0% | +9.1% | |
| Q3 2025 | -9.0% | -7.8% | -8.0% | |
| Q2 2025 | -1.8% | -3.0% | -3.7% | |
| Q1 2025 | -3.4% | +0.1% | +3.6% | |
| Q4 2024 | -3.7% | -5.5% | -10.6% | |
| Q3 2024 | -5.3% | -8.2% | -1.5% | |
| Q2 2024 | -1.3% | -3.0% | -5.8% | |
| Q1 2024 | +2.4% | +3.5% | +11.9% | |
| Q4 2023 | -4.9% | -6.5% | -3.7% | |
| Q3 2023 | -10.1% | -8.5% | -7.9% | |
| Q2 2023 | -2.9% | +0.4% | +2.7% | |
| Q1 2023 | +2.3% | +2.3% | +4.8% | |
| Q4 2022 | +10.1% | +11.8% | +10.5% | |
| Q3 2022 | -5.8% | -8.7% | +5.3% | |
| Q2 2022 | +16.6% | +13.3% | +27.9% | |
| Q1 2022 | +7.8% | +6.3% | +3.6% | |
| Q4 2021 | +2.4% | +0.2% | +17.9% | |
| Q3 2021 | +5.9% | +5.7% | +8.9% | |
| Q2 2021 | -9.3% | -8.4% | -9.9% | |
| Q1 2021 | -0.1% | +0.3% | +0.2% | |
| Q4 2020 | -7.7% | -11.8% | -8.8% | |
| Q3 2020 | -1.5% | -5.8% | +3.1% | |
| Q2 2020 | +7.2% | +2.1% | +4.5% | |
| Q1 2020 | -0.1% | +0.3% | +9.4% | |
| Q4 2019 | -5.3% | -2.8% | +10.5% | |
| Q3 2019 | +1.9% | +4.4% | +1.8% | |
| Q2 2019 | +9.9% | +8.3% | +5.2% | |
| Q1 2019 | +9.7% | +12.4% | +6.5% | |
| Q4 2018 | -1.3% | -1.8% | -2.1% | |
| Q3 2018 | -0.6% | -1.0% | +2.2% | |
| Q2 2018 | +6.1% | +6.6% | +2.0% | |
| Q1 2018 | -10.7% | -14.3% | -10.3% | |
| Q4 2017 | +3.9% | +6.4% | +2.5% | |
| Q3 2017 | +0.6% | +1.8% | -0.8% | |
| Q2 2017 | +3.4% | +2.5% | -1.3% | |
| Q1 2017 | +10.4% | +14.3% | +9.4% | |
| Q4 2016 | -3.2% | -3.6% | +2.7% | |
| Q3 2016 | +2.8% | +3.1% | +20.7% | |
| Q2 2016 | -1.0% | -0.6% | -0.6% | |
| Q1 2016 | +2.7% | — | — | |
| Q4 2015 | -0.5% | — | — | |
| Q3 2015 | -3.1% | — | — | |
| Q2 2015 | -10.2% | — | — | |
| Q1 2015 | +5.9% | — | — | |
| Q4 2014 | -0.7% | — | — | |
| Q3 2014 | +4.4% | — | — | |
| Q2 2014 | -4.4% | — | — | |
| Q1 2014 | +8.6% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | +4.1% | — | — | |
| Q2 2013 | -6.1% | — | — | |
| Q1 2013 | +7.6% | — | — | |
| Q4 2012 | +5.8% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q4 2011 | -2.5% | — | — | |
| Q2 2012 | -0.4% | — | — | |
| Q1 2011 | +2.2% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q3 2010 | -3.2% | — | — | |
| Q3 2011 | -3.2% | — | — | |
| Q2 2010 | -2.0% | — | — | |
| Q2 2011 | -2.0% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q1 2010 | +5.5% | — | — |
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