Overview
Marten Transport Q3 revenue misses analyst expectations, declining from the previous year
Net income for Q3 falls to $2.2 mln from $3.8 mln year-over-year
Company completes sale of intermodal assets to Hub Group for $51.8 mln
Outlook
Marten Transport expects immigration enforcement to positively impact growth opportunities
Result Drivers
FREIGHT MARKET RECESSION - CEO Randolph L. Marten attributes earnings pressure to oversupply and weak demand in freight market
DEDICATED AND BROKERAGE PERFORMANCE - Co highlights positive results from dedicated and brokerage operations despite market challenges
ASSET SALE TO HUB GROUP - Co completes sale of intermodal assets to Hub Group to focus on core operations
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $220.47 mln | $227.28 mln (3 Analysts) |
Q3 EPS | $0.03 | ||
Q3 Net Income | $2.22 mln | ||
Q3 EBIT | $2.73 mln | ||
Q3 Operating Expenses | $217.73 mln | ||
Q3 Pretax Profit | $2.95 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the ground freight & logistics peer group is "buy."
Wall Street's median 12-month price target for Marten Transport Ltd is $11.50, about 4.9% above its October 21 closing price of $10.94
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 31 three months ago
Press Release: ID:nGNX8VfG6V
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)