Truckload Down, Dedicated Up In Marten's Fourth Wuarter
Marten Transport rode strong results in its Dedicated and Brokerage divisions to post net income for the fourth quarter of 2019 that was stable for the period, but operating income for the quarter was down 3.8%. For the full year, Marten (NASDAQ: MRTN ) reported a 7.1% increase in operating revenue and a gain of 8.7% in operating income. That led to record results in both those categories. Net income was up 11% for the year. Net income for the fourth quarters of 2018 and 2019 was essentially flat on either side of $15.74 million. The differences in the performance of the Truckload and Dedicated divisions were stark even with relatively minor differences in some benchmark numbers. Marten's truckload revenue per tractor per week, net of fuel, was up 5.2% to $3,736 compared to the fourth quarter of 2018. The same category for Dedicated showed that group's per-truck revenue up just 2.2%, to $3,286 from $3,360. But the Dedicated operating ratio improved to 88.6% from 91.1% while the OR in Truckload worsened to 92.5% from 89.9% in the corresponding quarter of 2018.
Truckload Down, Dedicated Up In Marten's Fourth Wuarter
Marten Transport rode strong results in its Dedicated and Brokerage divisions to post net income for the fourth quarter of 2019 that was stable for the period, but operating income for the quarter was down 3.8%. For the full year, Marten (NASDAQ: MRTN ) reported a 7.1% increase in operating revenue and a gain of 8.7% in operating income. That led to record results in both those categories. Net income was up 11% for the year. Net income for the fourth quarters of 2018 and 2019 was essentially flat on either side of $15.74 million. The differences in the performance of the Truckload and Dedicated divisions were stark even with relatively minor differences in some benchmark numbers. Marten's truckload revenue per tractor per week, net of fuel, was up 5.2% to $3,736 compared to the fourth quarter of 2018. The same category for Dedicated showed that group's per-truck revenue up just 2.2%, to $3,286 from $3,360. But the Dedicated operating ratio improved to 88.6% from 91.1% while the OR in Truckload worsened to 92.5% from 89.9% in the corresponding quarter of 2018.