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Marten Transport, Ltd. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in operating revenue to $237.4 million from $279.5 million in the same quarter the previous year. The decrease is attributed to a reduction in revenue across all segments, including Truckload, Dedicated, Intermodal, and Brokerage.
Operating income for the quarter was $4.3 million, down from $17.2 million in the previous year, with the decline attributed to decreased revenue and higher operating expenses.
Net income for the quarter was $3.8 million, down from $13.6 million in the previous year. Basic and diluted earnings per common share were $0.05, compared to $0.17 in the previous year.
Cash provided by operating activities was $111.0 million for the first nine months of 2024, while cash used in investing and financing activities was $107.2 million and $14.0 million, respectively.
Marten had a working capital of $766.5 million as of September 30, 2024, with no long-term debt outstanding. The company maintains a credit facility with an aggregate principal amount of $30.0 million, with no outstanding balance as of the end of the quarter.
The filing also details various financial activities, including share repurchase programs and dividend payments. No shares were repurchased in the first nine months of 2024.
Marten Transport continues to focus on its diversified business platforms, including Truckload, Dedicated, Intermodal, Brokerage, and MRTN de Mexico, despite the challenging market conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Marten Transport Ltd. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.