Marten’s 1Q Income Declines
Truckload carrier Marten Transport’s first-quarter net income declined to $5.3 million, or 16 cents per share, from $7.2 million, or 22 cents, a year ago.
“Our results reflect the impact of the severe weather conditions that greatly hindered each of our operating segments in this year's first quarter,” Chairman and CEO Randolph Marten said in a statement. “The conditions were unusually harsh and widespread, significantly affecting both freight volumes and operating costs.”
Operating revenue from truckload and logistics operations declined to $159.4 million from $164.5 million the previous year, Marten said.
Marten Transport is ranked No. 42 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
