$MRTN
MARTEN TRANSPORT LTD

2021 Q1 Form 10-Q Financial Statement

#000143774921011225 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $223.0M $218.6M
YoY Change 2.01% 9.86%
Cost Of Revenue $142.7M $141.5M
YoY Change 0.85% 9.27%
Gross Profit $80.30M $77.10M
YoY Change 4.15% 10.78%
Gross Profit Margin 36.0% 35.26%
Selling, General & Admin $27.30M $29.10M
YoY Change -6.19% 13.23%
% of Gross Profit 34.0% 37.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.69M $25.43M
YoY Change 1.02% 12.79%
% of Gross Profit 31.99% 32.98%
Operating Expenses $199.0M $200.6M
YoY Change -0.78% 10.66%
Operating Profit $24.00M $18.03M
YoY Change 33.09% 1.69%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $10.00K $97.00K
YoY Change -89.69% -65.11%
Pretax Income $24.01M $18.13M
YoY Change 32.43% 0.66%
Income Tax $6.002M $4.411M
% Of Pretax Income 25.0% 24.33%
Net Earnings $18.01M $13.72M
YoY Change 31.26% 1.27%
Net Earnings / Revenue 8.07% 6.27%
Basic Earnings Per Share $0.22 $0.17
Diluted Earnings Per Share $0.22 $0.17
COMMON SHARES
Basic Shares Outstanding 82.76M 82.21M
Diluted Shares Outstanding 83.36M 82.86M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.60M $36.10M
YoY Change 145.43% -57.78%
Cash & Equivalents $88.58M $36.14M
Short-Term Investments
Other Short-Term Assets $19.40M $19.10M
YoY Change 1.57% 6.11%
Inventory
Prepaid Expenses
Receivables $89.55M $94.28M
Other Receivables $3.400M $10.10M
Total Short-Term Assets $201.1M $159.5M
YoY Change 26.02% -17.45%
LONG-TERM ASSETS
Property, Plant & Equipment $652.6M $663.3M
YoY Change -1.62% 14.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.698M $2.029M
YoY Change -16.31% -38.16%
Total Long-Term Assets $654.3M $665.4M
YoY Change -1.67% 14.47%
TOTAL ASSETS
Total Short-Term Assets $201.1M $159.5M
Total Long-Term Assets $654.3M $665.4M
Total Assets $855.3M $824.9M
YoY Change 3.69% 6.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.06M $34.82M
YoY Change -7.93% 88.1%
Accrued Expenses $24.10M $21.90M
YoY Change 10.05% -30.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $97.85M $91.13M
YoY Change 7.38% 14.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $600.0K
YoY Change -50.0% 20.0%
Total Long-Term Liabilities $300.0K $600.0K
YoY Change -50.0% 20.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $97.85M $91.13M
Total Long-Term Liabilities $300.0K $600.0K
Total Liabilities $220.4M $215.5M
YoY Change 2.24% 15.39%
SHAREHOLDERS EQUITY
Retained Earnings $549.1M $529.1M
YoY Change 3.79% 3.64%
Common Stock $85.85M $80.28M
YoY Change 6.94% 3.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $635.0M $609.4M
YoY Change
Total Liabilities & Shareholders Equity $855.3M $824.9M
YoY Change 3.69% 6.51%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $18.01M $13.72M
YoY Change 31.26% 1.27%
Depreciation, Depletion And Amortization $25.69M $25.43M
YoY Change 1.02% 12.79%
Cash From Operating Activities $43.57M $43.48M
YoY Change 0.21% 15.55%
INVESTING ACTIVITIES
Capital Expenditures -$31.30M -$46.10M
YoY Change -32.1% 220.14%
Acquisitions
YoY Change
Other Investing Activities $37.00K $39.00K
YoY Change -5.13% 56.0%
Cash From Investing Activities -$17.42M -$36.63M
YoY Change -52.45% 443.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $597.0K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$3.697M -$2.173M
YoY Change 70.13% 2.07%
NET CHANGE
Cash From Operating Activities $43.57M $43.48M
Cash From Investing Activities -$17.42M -$36.63M
Cash From Financing Activities -$3.697M -$2.173M
Net Change In Cash $22.46M $4.675M
YoY Change 380.34% -83.75%
FREE CASH FLOW
Cash From Operating Activities $43.57M $43.48M
Capital Expenditures -$31.30M -$46.10M
Free Cash Flow $74.87M $89.58M
YoY Change -16.42% 72.18%

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17000000.0 USD
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LineOfCreditFacilityRemainingBorrowingCapacity
13000000.0 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
18006000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
13718000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82758000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82214000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
601000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
650000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83359000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82864000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
17000000.0 USD
CY2020Q4 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit
0.25 pure
CY2020Q4 mrtn Line Of Credit Facility Waiver To Pay Dividends Maximum
LineOfCreditFacilityWaiverToPayDividendsMaximum
60000000 USD
CY2019Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
34000000 USD
CY2019Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1800000
CY2020Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2700000
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
53064
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
597000 USD
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
33400000 USD
CY2021Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2600000
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3300000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2200000 USD
CY2020Q4 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit
0.25 pure
CY2020Q4 mrtn Line Of Credit Facility Waiver To Pay Dividends Maximum
LineOfCreditFacilityWaiverToPayDividendsMaximum
60000000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
18032000 USD
CY2021Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
336000 USD
CY2020Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
246000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
826000 USD
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5 pure
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 pure
CY2021Q1 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 USD
CY2021Q1 us-gaap Revenues
Revenues
223046000 USD
CY2020Q1 us-gaap Revenues
Revenues
218646000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
23998000 USD

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