Marten Transport Ltd. said second-quarter net income improved 3.4% to $7.93 million, or 24 cents per share, reflecting strong results in June.
The refrigerated carrier based in Mondovi, Wisconsin, raised revenue 4% to $168.4 million. Marten, which ranks No. 45 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers, compiled net income of $3.1 million last month. In the year-earlier period, net income was $7.7 million, or 23 cents per share.
“We remain confident that we are well-positioned for the remainder of 2014 and beyond with our rate initiatives that will continue through this year's third quarter,” CEO Randolph Marten said in a statement. “The operating environment is becoming more favorable with tightening capacity.”
Truckload profit before interest and taxes rose 4.1% to $11.1 million as margins improved faster than a 1.8% rise in revenue. The logistics business raised revenue 14%, but profit before interest and taxes fell 37% to $1.1 million.