NASDAQ$MRTN
Marten Transport Ltd · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Marten Transport's financial performance declined in Q3 2024 due to freight market recession.
Marten Transport reported a decrease in net income to $3.8 million, or 5 cents per diluted share, for Q3 2024, compared to $13.6 million, or 17 cents per diluted share, in Q3 2023. Operating revenue also decreased to $237.4 million from $279.5 million year-over-year. The results were impacted by the freight market recession and inflationary operating costs.
- Net income decreased to $3.8 million, or 5 cents per diluted share, compared to $13.6 million, or 17 cents per diluted share in Q3 2023.
- Operating revenue was $237.4 million, down from $279.5 million in the same quarter last year.
- Operating income was $4.3 million, compared to $17.2 million in the third quarter of 2023.
- The company is focused on positioning its operations to capitalize on profitable organic growth opportunities.
Headline financials
Revenue & EPS history
Marten Transport · Revenue · Quarterly
$237M
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 freight market’s impact on operations while investing in and positioning operations to capitalize on profitable organic growth opportunities.
Tailwinds
- Increased interest by customers to secure dedicated capacity.
- Addition of new multi-year dedicated programs for an additional 149 drivers expected to be substantially in service by the end of this year.
- Extended each of the contracts for dedicated programs due in the third quarter covering 337 of our drivers.
- Sequential improvement in our combined truckload and dedicated rate per total mile since the fourth quarter of 2022.
- Focus on fair compensation for premium services across each of our business operations.
Headwinds
- Earnings were heavily pressured by the considerable duration and depth of the freight market recession’s oversupply and weak demand.
- Cumulative impact of inflationary operating costs and freight rate reductions.
- Freight network disruptions.
- Operating expenses as a percentage of operating revenue increased to 98.2% for the 2024 quarter from 93.8% for the 2023 quarter.
- Operating income decreased from $17.2 million to $4.3 million.
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 2024
+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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