Refrigerated truckload carrier Marten Transport is bullish on its net income targets for the second quarter, predicting that it will post earnings between 63 to 68 cents a share. That compares to 46 cents a share in the same period in 2001 and the 16 cents a share it earned in the first quarter of this year.
President Randolph L. Marten said that earnings growth reflects a modest but encouraging rise in freight demand during the second quarter, coupled with more effective cost and fleet management strategies.
"Equipment utilization measured by miles per tractor is running slightly ahead of a year ago and substantially ahead of the first quarter this year," Marten said. "At the same time, we have experienced some easing of the pressure on freight rates that has undercut earnings in recent quarters."
Mondovi, WI-based Marten Transport currently operates a fleet of 1,946 tractors and 2,719 53-foot trailers.