- Marten Transport, Ltd (NASDAQ: MRTN) reported second-quarter operating revenue growth of 41.8% year-over-year to $329.6 million, beating the consensus of $282.7 million.
- The operating income improved 43.6% Y/Y to $40.94 million, and the margin expanded by 15 bps to 12.4%.
- EPS was $0.39, beating the consensus of $0.32.
- Operating expenses as a percentage of operating revenue improved to 87.6% from 87.7% in 2Q21.
- During the quarter, the Company repurchased and retired 963,000 shares of common stock for $16.8 million.
- MRTN generated cash from operating activities year-to-date of $98.67 million, compared to $83.36 million a year ago
- As of June 30, 2022, the Company has 3,395 (+7.4% Y/Y) tractors and 5,521 (+4.2% Y/Y) trailers.
- MRTN has increased the number of drivers by 422, or 15.4%, since June 30, 2021.
- Price Action: MRTN shares are trading higher by 3.15% at $17.69 during the post-market session on Monday.
Read at Benzinga