Marten Transport Reports Company Record Revenue
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Marten Transport Ltd. reported the highest operating revenue and operating income in the company’s 73-year history, according to a July 18 news release.
Marten reported net income of $15.2 million, or 28 cents per share, in the three months ending June 30, a 10.9% jump compared with $13.7 million, or 25 cents per share, in the same period a year ago.
Operating revenue jumped 7.6% to $212.1 million in the second quarter of 2019, compared with $197 million in operating revenue during the same period of 2018. Operating income was $19.9 million, up from $18.2 million in the second quarter last year.
For the six months ending on June 30, the company’s operating revenue jumped 7.1% and its operating income went up 18.4%, compared to the six months ending June 30, 2018, Marten reported.
Randolph L. Marten, chairman and CEO of the Mondovi, Wis.-based carrier, credited his employees for the record performance. He said the company added 41 truckload and 138 dedicated tractors in the second quarter. The company had previously added 65 truckload and 51 dedicated tractors during the first quarter of 2019.
“We expect to carry forward this success in recruiting and retaining the industry’s top experienced drivers to capitalize on the strong current and expected demand for our premium services,” Marten said in a news release.
The carrier specializes in hauling food and packaged goods that require refrigeration. Marten also provides dedicated contract carriage, and intermodal and freight brokerage, along with dry van truckload service in the United States, Canada and Mexico.
Marten Transport employs about 3,500 people. Marten Transport was founded by a 17-year-old member of the Marten family who delivered milk and other dairy products from the Modena Co-op Creamery, according to the company’s website.
Marten Transport ranks No. 48 on the Transport Topics Top 100 list of largest for-hire carriers in North America.
