MRTN - Why Marten Transport Stock Motored Today
Shares of Wisconsin temperature-controlled trucking operator Marten Transport (NASDAQ: MRTN) are red hot Tuesday afternoon, rising 15.3% as of 12:45 p.m. after beating second-quarter earnings estimates with a stick last night.
Expected to report a $0.32 per-share profit on sales of just $286.6 million, Marten wowed Wall Street instead with a report of $0.3 9 per share in profit and sales of $329.6 million.
Sales for fiscal Q2 surged 42% for Marten, and while about 10 percentage points of that came from fuel surcharges imposed by the company to offset "significantly higher fuel prices," the bulk of the growth was from stronger demand for the company's services, resulting in "the highest amount [of revenue] for any quarter in Marten's 77-year history," said management -- and at very strong profit margins to boot.
For further details see:
Why Marten Transport Stock Motored Today