Marten’s Third-Quarter Income Declines

Refrigerated truckload carrier Marten Transport’s third-quarter net income plunged 54% due to weakened freight demand and higher costs.
 
Net income fell to $3.1 million or 14 cents a share, from $6.7 million or 31 cents a year ago, Marten said late Monday.

Operating revenue from trucking and logistics operations rose 6.7% to $145 million.

Truckload revenue rose 1.4% to $125.5 million, while logistics revenue, including brokerage and intermodal operations, jumped 61.9% to $19.5 million.

Marten is ranked No. 51 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.