Marten Reports Lower Third-Quarter Income

Refrigerated truckload carrier Marten Transport’s third-quarter net income fell 43% to $3.5 million, or 16 cents a share, from $6.1 million, or 28 cents, a year ago.

Operating revenue from trucking operations fell 26.8%, to $100.3 million, while revenue from logistics operations fell 10.6%, to $29.3 million, the company said late Tuesday.

Marten said that the drop in revenue was primarily due to decreases in fuel surcharge revenues. Truckload fuel surcharges dropped 63.7% to $38.4 million and intermodal fuel surcharges fell 38.3% to $2.9 million.

Purchased transportation fell 0.2% to $29,192,000, from $29,125,000.

Marten is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.