Marten Transport Ltd. (MRTN, Financial) filed Quarterly Report for the period ended 2010-09-30.
Marten Transport Ltd. has a market cap of $492.4 million; its shares were traded at around $22.45 with a P/E ratio of 26.4 and P/S ratio of 1. The dividend yield of Marten Transport Ltd. stocks is 0.4%. Marten Transport Ltd. had an annual average earning growth of 3.6% over the past 10 years. GuruFocus rated Marten Transport Ltd. the business predictability rank of 2.5-star.MRTN is in the portfolios of NWQ Managers of NWQ Investment Management Co, RS Investment Management, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Our operating expenses as a percentage of operating revenue, or “operating ratio,” was 93.1% in the first nine months of 2010 compared with 94.4% in the first nine months of 2009. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharge revenue, improved to 91.9% for the 2010 nine-month period from 93.7% for the 2009 nine-month period. Our net income increased to $14.5 million in the first nine months of 2010 from $12.0 million in the first nine months of 2009. The increased profitability in 2010 was primarily due to the improvement in our overall cost structure and the increase in revenue per tractor per week in our Truckload segment.
Read the The complete Report
Marten Transport Ltd. has a market cap of $492.4 million; its shares were traded at around $22.45 with a P/E ratio of 26.4 and P/S ratio of 1. The dividend yield of Marten Transport Ltd. stocks is 0.4%. Marten Transport Ltd. had an annual average earning growth of 3.6% over the past 10 years. GuruFocus rated Marten Transport Ltd. the business predictability rank of 2.5-star.MRTN is in the portfolios of NWQ Managers of NWQ Investment Management Co, RS Investment Management, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Our operating revenue increased $3.2 million, or 0.8%, in the first nine months of 2010. This increase was primarily due to fuel surcharge revenue increasing by $16.0 million, or 41.0%, caused by significantly higher fuel prices in the first nine months of 2010. Our operating revenue, net of fuel surcharges, decreased $12.8 million, or 3.8%, compared with the first nine months of 2009. Truckload segment revenue, net of fuel surcharges, decreased 7.6% primarily due to a decrease in our average fleet size of 285 tractors, or 11.9%, partially offset by an increase in our average truckload revenue, net of fuel surcharges, per tractor per week of 4.9% in the first nine months of 2010. The changes in our operating statistics are primarily the result of the continued growth of our regional temperature-controlled operations, which we have increased to 48.2% of our truckload fleet as of September 30, 2010 from 21.7% as of September 30, 2009. By focusing on shorter lengths of haul in certain defined areas, we are addressing customer trends toward regional distribution to lower their transportation expense, furthering our own objectives of reducing fuel consumption per load, and matching some of our drivers desires to stay closer to home. The concentration of a portion of our fleet in these markets is evident in a 15.0% reduction from the first nine months of 2009 in average length of haul to 664 miles. Logistics segment revenue, net of intermodal fuel surcharges, increased 9.5% compared with the first nine months of 2009. The increase in logistics revenue primarily resulted from volume growth in each of our internal brokerage and intermodal services and in the logistics services provided by MWL. Logistics revenue represented 23.3% of our operating revenue in the first nine months of 2010 compared to 21.0% in the first nine months of 2009.Our operating expenses as a percentage of operating revenue, or “operating ratio,” was 93.1% in the first nine months of 2010 compared with 94.4% in the first nine months of 2009. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharge revenue, improved to 91.9% for the 2010 nine-month period from 93.7% for the 2009 nine-month period. Our net income increased to $14.5 million in the first nine months of 2010 from $12.0 million in the first nine months of 2009. The increased profitability in 2010 was primarily due to the improvement in our overall cost structure and the increase in revenue per tractor per week in our Truckload segment.
Read the The complete Report
