Marten Transport Q2 2024 10-Q Filed
Ticker: MRTN · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 799167
| Field | Detail |
|---|---|
| Company | Marten Transport LTD (MRTN) |
| Form Type | 10-Q |
| Filed Date | Aug 8, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, transportation, earnings
TL;DR
**Marten Transport Q2 2024 10-Q is IN. Check financials for Brokerage, Intermodal, Dedicated, Truckload.**
AI Summary
Marten Transport Ltd. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance across its various segments, including Brokerage, Intermodal, Dedicated, and Truckload services. Specific financial figures and operational data for the second quarter and first half of 2024 are presented in comparison to the same periods in 2023.
Why It Matters
This filing provides investors with a detailed look at Marten Transport's financial health and operational performance, crucial for understanding the company's trajectory in the trucking industry.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Numbers
- Q2 2024 — Reporting Period (Second quarter financial performance detailed)
- First Half 2024 — Reporting Period (First six months financial performance detailed)
Key Players & Entities
- MARTEN TRANSPORT LTD (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240808 (date) — Filing date
- MONDOVI, WI (location) — Company headquarters state and city
- MINNEAPOLIS, MN (location) — Company mailing address state and city
FAQ
What were the key financial results for Marten Transport's Brokerage segment in Q2 2024 compared to Q2 2023?
The filing provides data for the Brokerage segment for Q2 2024 and Q2 2023, allowing for comparison of financial performance.
How did the Intermodal segment perform in the first half of 2024 versus the first half of 2023?
The 10-Q includes comparative financial data for the Intermodal segment for the periods January 1, 2024 to June 30, 2024, and January 1, 2023 to June 30, 2023.
What is Marten Transport's fiscal year end?
Marten Transport's fiscal year ends on December 31.
In which state was Marten Transport incorporated?
Marten Transport was incorporated in Delaware (DE).
What is the SIC code for Marten Transport's industry?
The Standard Industrial Classification (SIC) code for Marten Transport is 4213, categorized as TRUCKING (NO LOCAL).
Filing Stats: 4,496 words · 18 min read · ~15 pages · Grade level 13 · Accepted 2024-08-08 07:26:10
Filing Documents
- mrtn20240630_10q.htm (10-Q) — 1051KB
- ex_703429.htm (EX-31.1) — 10KB
- ex_703430.htm (EX-31.2) — 10KB
- ex_703431.htm (EX-32.1) — 6KB
- 0001437749-24-025273.txt ( ) — 3647KB
- mrtn-20240630.xsd (EX-101.SCH) — 29KB
- mrtn-20240630_def.xml (EX-101.DEF) — 196KB
- mrtn-20240630_lab.xml (EX-101.LAB) — 181KB
- mrtn-20240630_pre.xml (EX-101.PRE) — 216KB
- mrtn-20240630_cal.xml (EX-101.CAL) — 29KB
- mrtn20240630_10q_htm.xml (XML) — 405KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. MARTEN TRANSPORT, LTD. CONSOLIDATED CONDENSED BALANCE SHEETS June 30, December 31, (In thousands, except share information) 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 77,199 $ 53,213 Receivables: Trade, net 99,926 105,501 Other 11,450 10,356 Prepaid expenses and other 30,995 27,512 Total current assets 219,570 196,582 Property and equipment: Revenue equipment, buildings and land, office equipment and other 1,149,771 1,162,336 Accumulated depreciation ( 360,974 ) ( 370,103 ) Net property and equipment 788,797 792,233 Other noncurrent assets 1,520 1,524 Total assets $ 1,009,887 $ 990,339 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 47,214 $ 36,516 Insurance and claims accruals 44,296 47,017 Accrued and other current liabilities 27,466 26,709 Total current liabilities 118,976 110,242 Deferred income taxes 123,938 122,462 Noncurrent operating lease liabilities 220 249 Total liabilities 243,134 232,953 Stockholders' equity: Preferred stock, $ .01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding - - Common stock, $ .01 par value per share; 192,000,000 shares authorized; 81,414,959 shares at June 30, 2024, and 81,312,168 shares at December 31, 2023, issued and outstanding 814 813 Additional paid-in capital 51,385 49,789 Retained earnings 714,554 706,784 Total stockholders' equity 766,753 757,386 Total liabilities and stockholders' equity $ 1,009,887 $ 990,339 The accompanying notes are an integral part of these consolidated condensed financial statements. 1 MARTEN TRANSPORT, LTD. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Three Months Six Months Ended June 30, Ended June 30, (In thousands, except per share information) 2024 2023 2024 2023 Operating revenue $ 246,238 $ 2