Refrigerated truckload carrier Marten Transport’s first-quarter profit fell slightly, though trucking and logistics revenue improved due in part to higher fuel surcharges.
Net income slipped to $3.9 million, from $4.1 million a year ago, while per-share net income held at 18 cents.
Revenue from truckload and logistics operations rose 3.2% to $125.8 million due to higher fuel surcharges totaling $17.3 million, up from $10.8 million last year.
Operating revenue net of fuel surcharges fell 2.4% to $108.5 million, the company said in a statement late Tuesday.
Logistics revenue, net of intermodal fuel surcharges, rose to $27.6 million in the quarter, up 21.7% from a year ago, Chairman and Chief Executive Officer Randolph Marten said in the statement.
Logistics revenue consists of revenue from the company’s internal brokerage and intermodal operations and revenue associated with its 45% interest in MW Logistics LLC, a third-party provider of logistics services, he said.
Marten Transport is ranked No. 44 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
