Marten Transport posts higher 3Q profit, revenue

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Marten Transport said Wednesday, Oct. 18, that its third-quarter profit grew 6 percent, as higher revenue offset bigger fuel bills and a slowdown in freight volumes. Quarterly net income rose to $6.7 million, up from $6.4 million in the prior-year period. Operating revenue grew to $135.8 million from $119.1 million.

“Our team delivered another quarter of solid results, despite a generally acknowledged slowdown in freight volumes, high diesel prices and fierce competition for drivers,” said Randolph L. Marten, chairman, president and chief executive officer of the Mondovi, Wis.-based carrier.

Overall operating revenue rose because of higher freight rates and growth in non-freight revenue, Marten said. That helped offset an increase to $37.7 million of fuel and fuel taxes, from $29.6 million in the prior-year period.