{"id":477099,"date":"2021-04-15T16:04:06","date_gmt":"2021-04-15T20:04:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/"},"modified":"2021-04-15T16:04:06","modified_gmt":"2021-04-15T20:04:06","slug":"marten-transport-announces-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/","title":{"rendered":"Marten Transport Announces First Quarter Results"},"content":{"rendered":"

\nNet income improves 31.3% to kick off 2021
\n<\/h2>\n
\n

MONDOVI, Wisc., April 15, 2021 (GLOBE NEWSWIRE) — Marten Transport, Ltd. (Nasdaq\/GS:MRTN) today reported a 31.3% improvement in net income to $18.0 million, or 22 cents per diluted share, for the first quarter ended March 31, 2021, from $13.7 million, or 17 cents per diluted share, for the first quarter of 2020.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Operating Results Comparison<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nPercentage<\/td>\n\u00a0<\/td>\nPercentage<\/td>\n\u00a0<\/td>\nPercentage<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nIncrease<\/td>\n\u00a0<\/td>\nIncrease<\/td>\n\u00a0<\/td>\nIncrease<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\nYear<\/td>\n\u00a0<\/td>\nYear<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021 vs. 2020<\/td>\n\u00a0<\/td>\n2020 vs. 2019<\/td>\n\u00a0<\/td>\n2019 vs. 2018<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOperating revenue<\/td>\n\u00a0<\/td>\n2.0<\/td>\n%\u00a0<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n\u00a0<\/td>\n7.1<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOperating revenue, net of fuel surcharges<\/td>\n\u00a0<\/td>\n2.5<\/td>\n%<\/td>\n\u00a0<\/td>\n6.8<\/td>\n%<\/td>\n\u00a0<\/td>\n8.6<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOperating income<\/td>\n\u00a0<\/td>\n33.1<\/td>\n%<\/td>\n\u00a0<\/td>\n21.9<\/td>\n%<\/td>\n\u00a0<\/td>\n8.7<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNet income<\/td>\n\u00a0<\/td>\n31.3<\/td>\n%<\/td>\n\u00a0<\/td>\n13.8<\/td>\n%<\/td>\n\u00a0<\/td>\n11.0<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Operating revenue improved 2.0% to $223.0 million for the first quarter of 2021 from $218.6 million for the first quarter of 2020. Excluding fuel surcharges, operating revenue improved 2.5% to $198.2 million for the 2021 quarter from $193.4 million for the 2020 quarter. Fuel surcharge revenue decreased slightly to $24.9 million for the 2021 quarter from $25.2 million for the 2020 quarter.<\/p>\n

Operating income improved 33.1% to $24.0 million for the first quarter of 2021 from $18.0 million for the first quarter of 2020.<\/p>\n

Operating expenses as a percentage of operating revenue improved to 89.2% for the first quarter of 2021 from 91.8% for the first quarter of 2020. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 87.9% from 90.7%.<\/p>\n

Chairman and Chief Executive Officer Randolph L. Marten said, \u201cOur talented and determined people followed up the impact of the severe winter weather in February with an extremely strong finish to our first quarter, earning 10 cents per diluted share in the month of March. The 33.1% operating income improvement in our 2021 first quarter continues the consistent solid growth we achieved in 2020 of 21.9% and in 2019 of 8.7%, demonstrating our earnings leverage across some challenging operating environments.\u201d<\/p>\n

\u201cWe have been increasing and will continue to increase the compensation from our customers for our premium services within the tightening freight market, which is the result of both accelerating demand and constraining capacity driven by the intensifying national driver shortage. We expect to continue to build on our momentum in expanding the capacity we provide within our unique multifaceted business model across our diverse customer base with our continued improvements to our aggressive levels of driver compensation and benefits, safety and technology.\u201d<\/p>\n

\u201cWe embrace our responsibility to keep our valued drivers, maintenance personnel and employees across all functions and regions safe and healthy as they each contribute to our transporting and distributing the food, beverages and other consumer goods essential to millions of people in North America. We paid our drivers $876,000 this February for their available hours not driven due to the persistent unsafe weather conditions, compared with $46,000 in February of 2020.\u201d<\/p>\n

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across the Company\u2019s five distinct business platforms – Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten\u2019s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.<\/p>\n

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of Marten\u2019s prospects for future growth and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n

CONTACTS: Tim Kohl, President, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.<\/p>\n

\n \n <\/p>\n

\n \n <\/p>\n

\n MARTEN TRANSPORT, LTD.
<\/strong>
\n CONSOLIDATED CONDENSED BALANCE SHEETS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
(In thousands, except share information)<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n(Unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n$<\/td>\n88,583<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n66,127<\/td>\n\u00a0<\/td>\n<\/tr>\n
Receivables:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trade, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89,552<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,426<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,489<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,202<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,434<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,903<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201,058<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n175,658<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue equipment, buildings and land, office equipment and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n934,405<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n930,123<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(281,812<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(275,950<\/td>\n)<\/td>\n<\/tr>\n
Net property and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n652,593<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n654,173<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other noncurrent assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,698<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,805<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n855,349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n831,636<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n$<\/td>\n32,060<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n25,702<\/td>\n\u00a0<\/td>\n<\/tr>\n
Insurance and claims accruals<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,712<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,595<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued and other current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,079<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,497<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,851<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89,794<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,098<\/td>\n\u00a0<\/td>\n<\/tr>\n
Noncurrent operating lease liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n337<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n411<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220,371<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211,303<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, $.01 par value per share; 192,000,000 shares authorized; 82,774,936 shares at March 31, 2021, and 82,705,005 shares at December 31, 2020, issued and outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n828<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n827<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,019<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,070<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n549,131<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n534,436<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n634,978<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n620,333<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n$<\/td>\n855,349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n831,636<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n MARTEN TRANSPORT, LTD.<\/strong>
\n
\n CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS<\/strong>
\n
\n (Unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree\u00a0Months<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nEnded March 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
(In thousands, except per share information)<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n223,046<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n218,646<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses (income):<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Salaries, wages and benefits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,998<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,761<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchased transportation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,765<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,445<\/td>\n\u00a0<\/td>\n<\/tr>\n
Fuel and fuel taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,937<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,297<\/td>\n\u00a0<\/td>\n<\/tr>\n
Supplies and maintenance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,015<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,228<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,687<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,427<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating taxes and licenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,712<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,639<\/td>\n\u00a0<\/td>\n<\/tr>\n
Insurance and claims<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,284<\/td>\n\u00a0<\/td>\n<\/tr>\n
Communications and utilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,083<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,985<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gain on disposition of revenue equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,984<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,555<\/td>\n)<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,389<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,103<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n199,048<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n200,614<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,998<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,032<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(97<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,008<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,129<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,002<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,411<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n18,006<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,718<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic earnings per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.17<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.17<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dividends declared per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.027<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n MARTEN TRANSPORT, LTD.
<\/strong>
\n SEGMENT INFORMATION
<\/strong>
\n (Unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDollar<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nPercentage<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nChange<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nEnded<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nMarch 31,<\/td>\n\u00a0<\/td>\nMarch 31,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Dollars in thousands)<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021 vs. 2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2021 vs. 2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating revenue:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Truckload revenue, net of fuel surcharge revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n83,919<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n83,857<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.1<\/td>\n%<\/td>\n<\/tr>\n
Truckload fuel surcharge revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,996<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,275<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(279<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2.5<\/td>\n)<\/td>\n<\/tr>\n
Total Truckload revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94,915<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(217<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.2<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dedicated revenue, net of fuel surcharge revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n66,902<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n64,159<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,743<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dedicated fuel surcharge revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,878<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n457<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Dedicated revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,037<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,200<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intermodal revenue, net of fuel surcharge revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,594<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,148<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5.6<\/td>\n)<\/td>\n<\/tr>\n
Intermodal fuel surcharge revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,558<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(528<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(17.1<\/td>\n)<\/td>\n<\/tr>\n
Total Intermodal revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,004<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,680<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,676<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7.1<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Brokerage revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,890<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,797<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,093<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n223,046<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n218,646<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,400<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.0<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Truckload<\/td>\n\u00a0<\/td>\n$<\/td>\n11,415<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,785<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n<\/tr>\n
Dedicated<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,936<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,533<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,461<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,306<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n155<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Brokerage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,186<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,408<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n778<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating income<\/td>\n\u00a0<\/td>\n$<\/td>\n23,998<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n18,032<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,966<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33.1<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating ratio:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Truckload<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n92.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dedicated<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intermodal<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Brokerage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n92.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Consolidated operating ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n MARTEN TRANSPORT, LTD.<\/strong>
\n
\n OPERATING STATISTICS<\/strong>
\n
\n (Unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nEnded March 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
Truckload Segment:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue (in thousands)<\/td>\n\u00a0<\/td>\n$<\/td>\n94,915<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n95,132<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average revenue, net of fuel surcharges, per tractor per week(1)<\/sup><\/td>\n\u00a0<\/td>\n$<\/td>\n4,057<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,814<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average tractors(1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,609<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,691<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average miles per trip<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n534<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n559<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-revenue miles percentage(2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.2<\/td>\n%<\/td>\n<\/tr>\n
Total miles (in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,283<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,039<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Dedicated Segment:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue (in thousands)<\/td>\n\u00a0<\/td>\n$<\/td>\n78,237<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n75,037<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average revenue, net of fuel surcharges, per tractor per week(1)<\/sup><\/td>\n\u00a0<\/td>\n$<\/td>\n3,214<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,304<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average tractors(1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,619<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,494<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average miles per trip<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n307<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n306<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-revenue miles percentage(2)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n<\/tr>\n
Total miles (in thousands)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,999<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,536<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intermodal Segment:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue (in thousands)<\/td>\n\u00a0<\/td>\n$<\/td>\n22,004<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n23,680<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loads<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,982<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,737<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average tractors<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Brokerage Segment:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue (in thousands)<\/td>\n\u00a0<\/td>\n$<\/td>\n27,890<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n24,797<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loads<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,575<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,108<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
At March 31, 2021 and March 31, 2020:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total tractors(1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,361<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,377<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average age of company tractors (in years)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total trailers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,344<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,420<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average age of company trailers (in years)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Ratio of trailers to tractors(1)<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nEnded March 31,<\/td>\n\u00a0<\/td>\n<\/tr>\n
(In thousands)<\/td>\n\u00a0<\/td>\n2021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash provided by operating activities<\/td>\n\u00a0<\/td>\n$<\/td>\n43,570<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n43,480<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash used for investing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(17,417<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36,632<\/td>\n)<\/td>\n<\/tr>\n
Net cash used for financing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,697<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,173<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,758<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,214<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,359<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,864<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n
(1)\u00a0<\/td>\n\u00a0<\/td>\nIncludes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 133 and 106 tractors as of March 31, 2021 and 2020, respectively.\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(2)<\/td>\n\u00a0<\/td>\nRepresents the percentage of miles for which the company is not compensated.<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Net income improves 31.3% to kick off 2021 MONDOVI, Wisc., April 15, 2021 (GLOBE NEWSWIRE) — Marten Transport, Ltd. (Nasdaq\/GS:MRTN) today reported a 31.3% improvement in net income to $18.0 million, or 22 cents per diluted share, for the first quarter ended March 31, 2021, from $13.7 million, or 17 cents per diluted share, for the first quarter of 2020. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Operating Results Comparison \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Percentage \u00a0 Percentage \u00a0 Percentage \u00a0 \u00a0 \u00a0 \u00a0 Increase \u00a0 Increase \u00a0 Increase \u00a0 \u00a0 \u00a0 \u00a0 Three Months \u00a0 Year \u00a0 Year \u00a0 \u00a0 \u00a0 \u00a0 Ended \u00a0 Ended \u00a0 Ended \u00a0 \u00a0 \u00a0 \u00a0 March 31, \u00a0 December 31, \u00a0 … <\/p>\n

Continue reading “Marten Transport Announces First Quarter Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-477099","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMarten Transport Announces First Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marten Transport Announces First Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Net income improves 31.3% to kick off 2021 MONDOVI, Wisc., April 15, 2021 (GLOBE NEWSWIRE) — Marten Transport, Ltd. (Nasdaq\/GS:MRTN) today reported a 31.3% improvement in net income to $18.0 million, or 22 cents per diluted share, for the first quarter ended March 31, 2021, from $13.7 million, or 17 cents per diluted share, for the first quarter of 2020. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Operating Results Comparison \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Percentage \u00a0 Percentage \u00a0 Percentage \u00a0 \u00a0 \u00a0 \u00a0 Increase \u00a0 Increase \u00a0 Increase \u00a0 \u00a0 \u00a0 \u00a0 Three Months \u00a0 Year \u00a0 Year \u00a0 \u00a0 \u00a0 \u00a0 Ended \u00a0 Ended \u00a0 Ended \u00a0 \u00a0 \u00a0 \u00a0 March 31, \u00a0 December 31, \u00a0 … Continue reading "Marten Transport Announces First Quarter Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-15T20:04:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxNzg4MiM0MTE0MzExIzIwMjYzNzQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Marten Transport Announces First Quarter Results\",\"datePublished\":\"2021-04-15T20:04:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/\"},\"wordCount\":1159,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxNzg4MiM0MTE0MzExIzIwMjYzNzQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/marten-transport-announces-first-quarter-results\\\/\",\"name\":\"Marten Transport Announces First Quarter Results - 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(Nasdaq\/GS:MRTN) today reported a 31.3% improvement in net income to $18.0 million, or 22 cents per diluted share, for the first quarter ended March 31, 2021, from $13.7 million, or 17 cents per diluted share, for the first quarter of 2020. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Operating Results Comparison \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Percentage \u00a0 Percentage \u00a0 Percentage \u00a0 \u00a0 \u00a0 \u00a0 Increase \u00a0 Increase \u00a0 Increase \u00a0 \u00a0 \u00a0 \u00a0 Three Months \u00a0 Year \u00a0 Year \u00a0 \u00a0 \u00a0 \u00a0 Ended \u00a0 Ended \u00a0 Ended \u00a0 \u00a0 \u00a0 \u00a0 March 31, \u00a0 December 31, \u00a0 … Continue reading \"Marten Transport Announces First Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-15T20:04:06+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxNzg4MiM0MTE0MzExIzIwMjYzNzQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Marten Transport Announces First Quarter Results","datePublished":"2021-04-15T20:04:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/"},"wordCount":1159,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxNzg4MiM0MTE0MzExIzIwMjYzNzQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/marten-transport-announces-first-quarter-results\/","name":"Marten Transport Announces First Quarter Results - 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