MRTN - More on Marten Transport Q1 results

Marten Transport ([[MRTN]] +0.7%) reports Q1 revenue of $223.1M which was +2% Y/Y with fuel surcharge revenue slightly down to $24.9M.Segment revenue: Truckload $94.9M (-0.2% Y/Y); Dedicated $78.2M (+4.3% Y/Y); Intermodal $22M (-7.1% Y/Y) & Brokerage of $27.9M (+12.5% Y/Y).Operating ratio: Total declined 260 bps to 89.2%; Truckload declined 490 bps to 88%; Dedicated was flat at 88.6%; Intermodal declined 110 bps to 93.4% & Brokerage too declined 210 bps to 92.2%.Average revenue, net of fuel surcharges, per tractor per week: Truckload $4,057M (+6.4% Y/Y); Dedicated $3,214M (-2.7% Y/Y).Average tractors: Truckload 1,609 (-4.8% Y/Y); Dedicated 1,619 (+8.4% Y/Y) & Intermodal 134 (+34% Y/Y).Average miles per trip: Truckload 534 (-4.5% Y/Y); Dedicated 307 (+0.3% Y/Y).Net cash provided by operating activities for the quarter was $43.57M (+0.2% Y/Y).“The 33.1% operating income improvement in our Q1 2021 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.” said Randolph

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More on Marten Transport Q1 results