Marten Transport(US:MRTN)2025-01-27 21:07Financial Performance - Net income for Q4 2024 was $5.6 million, or $0.07 per diluted share, down from $12.4 million, or $0.15 per diluted share in Q4 2023[1] - For the full year 2024, net income was $26.9 million, or $0.33 per diluted share, compared to $70.4 million, or $0.86 per diluted share in 2023[1] - Operating income for Q4 2024 was $6.7 million, down from $15.7 million in Q4 2023, but improved 57.6% sequentially from Q3 2024[4] - Total operating income dropped to $6,727 in Q4 2024, down 57.0% from $15,657 in Q4 2023[16] - Truckload operating income for the year decreased by 86.8% to $3,283 from $24,835 in 2023[18] Revenue Trends - Operating revenue for Q4 2024 was $230.4 million, a decrease from $268.2 million in Q4 2023; excluding fuel surcharges, it was $202.9 million compared to $229.4 million[2] - Operating revenue for 2024 totaled $963.7 million, down from $1.131 billion in 2023; excluding fuel surcharges, it was $840.0 million compared to $972.0 million[3] - Total operating revenue for Q4 2024 was $230,432, a decrease of 14.1% compared to $268,222 in Q4 2023[16] - For the year ended December 31, 2024, total operating revenue was $963,708, a decline of 14.8% from $1,131,455 in 2023[18] Revenue Breakdown - Truckload revenue, net of fuel surcharge revenue, decreased by 2.5% to $93,106 in Q4 2024 from $95,461 in Q4 2023[16] - Dedicated revenue, net of fuel surcharge revenue, fell by 16.4% to $64,997 in Q4 2024 compared to $77,731 in Q4 2023[16] - Intermodal revenue, net of fuel surcharge revenue, decreased by 28.0% to $11,238 in Q4 2024 from $15,610 in Q4 2023[16] Operating Expenses and Ratios - Operating expenses as a percentage of operating revenue were 97.1% for Q4 2024, compared to 94.2% for Q4 2023[5] - The consolidated operating ratio increased to 97.1% in Q4 2024 from 94.2% in Q4 2023[16] Cash Flow and Assets - Net cash provided by operating activities for Q4 2024 was $23,793, down from $38,045 in Q4 2023[20] - Total current assets decreased to $138.5 million in 2024 from $196.6 million in 2023[12] - Total liabilities decreased to $200.8 million in 2024 from $233.0 million in 2023[12] Performance Trends - The company reported a sequential improvement in net income, operating income, and operating ratio since Q2 2022, indicating a positive trend in performance[7] - Average revenue per tractor per week for the Truckload segment was $4,227 in Q4 2024, slightly up from $4,183 in Q4 2023[20] Fuel Surcharge Impact - Fuel surcharge revenue decreased to $27.6 million in Q4 2024 from $38.8 million in Q4 2023[2]