$MRTN
MARTEN TRANSPORT LTD

2020 Q2 Form 10-Q Financial Statement

#000143774920016959 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2018 Q4
Revenue $212.4M $212.1M $204.0M
YoY Change 0.14% 7.65% 11.59%
Cost Of Revenue $130.5M $138.2M $133.8M
YoY Change -5.57% 6.31% 11.04%
Gross Profit $81.90M $73.90M $70.20M
YoY Change 10.83% 10.3% 12.68%
Gross Profit Margin 38.56% 34.84% 34.42%
Selling, General & Admin $28.10M $26.20M $24.50M
YoY Change 7.25% 12.93% 6.99%
% of Gross Profit 34.31% 35.45% 34.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.97M $23.46M $22.30M
YoY Change 10.7% 5.72% 5.19%
% of Gross Profit 31.71% 31.75% 31.77%
Operating Expenses $187.1M $192.1M $52.60M
YoY Change -2.61% 7.46% 8.45%
Operating Profit $25.26M $19.94M $19.54M
YoY Change 26.63% 9.44% 36.31%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $13.00K $395.0K $200.0K
YoY Change -96.71% 186.23% -300.0%
Pretax Income $25.27M $20.34M $19.80M
YoY Change 24.24% 10.77% 39.44%
Income Tax $7.135M $5.149M $4.000M
% Of Pretax Income 28.24% 25.32% 20.2%
Net Earnings $18.13M $15.19M $15.74M
YoY Change 19.38% 10.86% -75.82%
Net Earnings / Revenue 8.54% 7.16% 7.72%
Basic Earnings Per Share $0.22 $0.19 $0.29
Diluted Earnings Per Share $0.22 $0.18 $0.29
COMMON SHARES
Basic Shares Outstanding 82.53M 54.62M
Diluted Shares Outstanding 83.13M 55.08M

Balance Sheet

Concept 2020 Q2 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.30M $82.80M $56.80M
YoY Change -9.06% 276.36% 259.49%
Cash & Equivalents $75.32M $82.79M $56.76M
Short-Term Investments
Other Short-Term Assets $22.90M $19.70M $2.971M
YoY Change 16.24% -1.01% 6.64%
Inventory
Prepaid Expenses
Receivables $83.85M $87.04M $83.03M
Other Receivables $12.60M $3.400M $3.800M
Total Short-Term Assets $194.7M $192.9M $163.5M
YoY Change 0.94% 43.3% 40.23%
LONG-TERM ASSETS
Property, Plant & Equipment $644.2M $600.6M $588.2M
YoY Change 7.26% 2.2% 2.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.916M $3.107M $2.146M
YoY Change -38.33% 43.25% 15.07%
Total Long-Term Assets $646.1M $603.7M $590.4M
YoY Change 7.03% 2.35% 2.89%
TOTAL ASSETS
Total Short-Term Assets $194.7M $192.9M $163.5M
Total Long-Term Assets $646.1M $603.7M $590.4M
Total Assets $840.8M $796.6M $753.9M
YoY Change 5.55% 9.96% 9.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.18M $24.29M $15.70M
YoY Change 7.75% -46.96% -4.7%
Accrued Expenses $25.60M $30.00M $28.17M
YoY Change -14.67% 30.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $87.58M $85.18M $71.97M
YoY Change 2.82% 19.37% 11.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $600.0K $500.0K
YoY Change 20.0%
Total Long-Term Liabilities $600.0K $500.0K $0.00
YoY Change 20.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.58M $85.18M $71.97M
Total Long-Term Liabilities $600.0K $500.0K $0.00
Total Liabilities $211.4M $194.2M $178.0M
YoY Change 8.87% 10.85% 7.91%
SHAREHOLDERS EQUITY
Retained Earnings $545.0M $524.1M $498.6M
YoY Change 4.0% 11.42% 11.16%
Common Stock $84.37M $78.34M $77.36M
YoY Change 7.7% -0.73% 0.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $629.4M $602.4M $576.0M
YoY Change
Total Liabilities & Shareholders Equity $840.8M $796.6M $753.9M
YoY Change 5.55% 9.96% 9.2%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2018 Q4
OPERATING ACTIVITIES
Net Income $18.13M $15.19M $15.74M
YoY Change 19.38% 10.86% -75.82%
Depreciation, Depletion And Amortization $25.97M $23.46M $22.30M
YoY Change 10.7% 5.72% 5.19%
Cash From Operating Activities $60.60M $35.90M $42.10M
YoY Change 68.8% -18.78% 54.78%
INVESTING ACTIVITIES
Capital Expenditures -$32.80M -$48.60M -$31.20M
YoY Change -32.51% -0.41% 65.08%
Acquisitions
YoY Change
Other Investing Activities $10.30M $11.20M $15.30M
YoY Change -8.04% -34.12% 101.32%
Cash From Investing Activities -$22.60M -$37.50M -$16.10M
YoY Change -39.73% 17.92% 42.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.200M -1.200M -5.100M
YoY Change -200.0% 50.0% 292.31%
NET CHANGE
Cash From Operating Activities 60.60M 35.90M 42.10M
Cash From Investing Activities -22.60M -37.50M -16.10M
Cash From Financing Activities 1.200M -1.200M -5.100M
Net Change In Cash 39.20M -2.800M 20.90M
YoY Change -1500.0% -124.14% 43.15%
FREE CASH FLOW
Cash From Operating Activities $60.60M $35.90M $42.10M
Capital Expenditures -$32.80M -$48.60M -$31.20M
Free Cash Flow $93.40M $84.50M $73.30M
YoY Change 10.53% -9.14% 59.0%

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us-gaap Increase Decrease In Insurance Liabilities
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2804000 USD
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mrtn Increase Decrease In Accrued Other Current Liabilities
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us-gaap Payments For Proceeds From Other Investing Activities
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mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
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mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
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mrtn Operating Lease Assets And Liabilities Acquired
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us-gaap Income Taxes Paid Net
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987000 USD
us-gaap Income Taxes Paid Net
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us-gaap Interest Paid Net
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us-gaap Net Income Loss
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0.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
us-gaap Earnings Per Share Diluted
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0.52
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30000000.0 USD
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16300000 USD
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13700000 USD
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us-gaap Payments Of Dividends Common Stock
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65000000 USD
us-gaap Stock Option Plan Expense
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972000 USD
us-gaap Stock Option Plan Expense
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1000000.0 USD
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1100000 USD
us-gaap Number Of Reportable Segments
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4 pure
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2100000 USD
us-gaap Capitalized Contract Cost Impairment Loss
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0 USD
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Revenues
212384000 USD
CY2019Q2 us-gaap Revenues
Revenues
212090000 USD
us-gaap Revenues
Revenues
431030000 USD
us-gaap Revenues
Revenues
411113000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
43288000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
37677000 USD
us-gaap Reclassifications
Reclassifications
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">(<em style="font: inherit;">14</em>) Consolidated Condensed Statements of Cash Flows Reclassifications</p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"> </p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Tires in service amortization and operating leases in our consolidated condensed statements of cash flows have been reclassified to be consistent with the current presentation, resulting in a $1.6 million reclassification from investing to operating activities for the <em style="font: inherit;">six</em> months ended <em style="font: inherit;"> June 30, 2019.</em></p>

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