Marten Transport Q3 net income falls 47% to $13.6M; EPS $0.17 vs $0.32

MARTEN TRANSPORT LTD

2023-Q3 EPS reported $0.71 revenue$863,233,000

Net income $13.6M ($0.17/diluted) vs $25.6M ($0.32) YoY; revenue $279.5M vs $324.4M.
Operating income $17.2M, down 49% YoY; operating expenses ex-fuel at 92.8% vs 87.5% in Q3'22.
Weak demand, reduced rates, and $3.9M add'l net fuel expense vs Q2 pressured results.
Management says no rate cuts since early Aug; focus on positioning for market recovery.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARTEN TRANSPORT LTD reported the third quarter ended September 30, 2023 results: revenue $279.5 million, net income $13.6 million, EPS 17 cents per diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $279.5 million
Net income: $13.6 million
EPS: 17 cents per diluted share
Result: reported results

Exact text from the filing

2023, net income was $58.0 million, or 71 cents per diluted share, compared with $84.8 million, or $1.03 per diluted share, for the 2022 nine-month period. Operating revenue was $279.5 million for the third quarter of 2023 compared with $324.4 million for the third quarter of 2022. Excluding fuel surcharges, operating revenue was $239.1 million for the 2023 quarter

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Source: SEC EDGAR

accession 0001437749-23-028511

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