Marten Transport Ltd. on Thursday reported its second quarter net income increased 7.2% from a year earlier to $9.1 million, or 17 cents per share, 2 cents better than analysts' expectations.
This compares to income of $8.5 million, or 16 cents per share, for the second quarter of 2016 for the temperature controlled carrier based in Wisconsin.
Operating revenue increased to $171.5 million for the second quarter of 2017 from $166.1 million a year earlier. Operating revenue, net of fuel surcharges, improved 2% to $155.9.
Total revenue in the company's dedicated and intermodal operations rose 5.7% and 7.5%, respectively, during the quarter from a year earlier. Dedicated revenue totaled $41.5 million while intermodal was $19.1 million.
Total truckload revenue increased 0.9% to $94.9 million as brokerage revenue improved 6.6% to $15.9 million.
“We are encouraged by our growth in revenue and profitability driven by our continued disciplined execution of Marten's unique multifaceted business model,” said Randolph L. Marten, chairman and CEO. “Excluding the one-time facility disposition gain in our first quarter of 2015, we earned the highest net income in our history in this quarter and achieved our best operating ratio, net of fuel surcharges, over the last ten quarters.
Marten reported a consolidated operating ratio of 90.9% in the second quarter of this year compared to 91.1% a year earlier.
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