The Mondovi, Wis.-based temperature-sensitive truckload carrier posted a net income of $8.44 million for the third quarter of 2016 and $25.16 million for the first nine months of the year.
Marten Transport, Ltd. reported a net income of $8.44 million for the third quarter of 2016, a slight increase from a net income of $8.41 million for the third quarter of 2015.
The temperature-sensitive truckload carrier’s operating revenues for the quarter totaled $170.46 million, down from $171.35 million from the third quarter last year.
For the first nine months of 2016, Marten’s net income reached $25.16 million, down from $26.96 million for the first nine months of 2015.
Operating revenues for the first nine months of 2016 rose from $496.22 million from the corresponding period last year to $498.48 million, despite substantially lower fuel surcharges due to decreased fuel prices in 2016.
“The balanced strength of our multifaceted and diverse business model and the smart, disciplined work of our people drove increased results despite a continued soft freight market with excess capacity, which we expect to continue into 2017,” Marten Chairman and CEO Randolph L. Marten said. “This quarter we achieved our sixth consecutive year-over-year increase in quarterly profitability within each of our dedicated, intermodal and brokerage segments. We successfully grew our average number of truckload and dedicated tractors by 283 tractors, or 11.6%, in this year’s first nine months over the first nine months of 2015. We believe that we are well-positioned to capitalize on further profitable growth opportunities with our unique business model.”
Marten Transport reports Q3, first nine-month results
