The Mondovi, Wis.-based temperature-sensitive truckload carrier recorded earnings per share of $0.25 for the quarter, surpassing the street consensus and Stifel estimate of $0.21.
Temperature-sensitive truckload carrier Marten Transport, Ltd. had a net income of $8.2 million for the first quarter of 2017, ticking up 0.3 percent from the corresponding 2016 period, the company’s latest financial statements revealed.
Marten Transport’s earnings per share (EPS) for the quarter were flat at $0.25, but surpassed the street consensus and Stifel estimate of $0.21, Stifel said.
Operating revenues totaled $173.2 million for the quarter, an increase of 6.9 percent year-over-year.
As of March 31, Marten Transport had a total of 2,827 tractors (including those driven by independent contractors) and 4,955 trailers, a year-over-year increase of 1.5 percent and 4.9 percent, respectively. Marten said its dry freight services are expanding, and that it had 925 dry trailers operating as of March 31.
Looking ahead, Stifel said its 2017 EPS estimate for Marten Transport remains at $1.00, but the industry analyst decreased its 2018 EPS estimate for the carrier from $1.15 to $1.10, and its 2019 EPS estimate from $1.30 to $1.22.
Founded in 1946, Marten Transport currently offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers.
Marten Transport speeds past analyst expectations in Q1
