Marten’s 4Q Income Declines
Refrigerated truckload carrier Marten Transport’s fourth-quarter net income fell to $4.3 million, or 19 cents a share, from $5.8 million, or 27 cents, a year ago.
For the full year, net income slipped to $16.3 million, or 74 cents per share, from $18.1 million, or 82 cents, the company said late Tuesday.
Operating revenue, consisting of revenue from truckload and logistics operations, fell 8.3% to $128.7 million for the quarter, and declined 16.7% to $505.9 million for the full year.
Revenue net of fuel surcharges fell 4.3% to $112.1 million for the quarter and dropped 5.1% to $450.1 million for the year, primarily due to a decrease in average miles per tractor.
Marten is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
