$MRTN
MARTEN TRANSPORT LTD

2021 Q2 Form 10-Q Financial Statement

#000143774921018838 Filed on August 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $232.4M $212.4M
YoY Change 9.44% 0.14%
Cost Of Revenue $152.3M $130.5M
YoY Change 16.71% -5.57%
Gross Profit $80.14M $81.90M
YoY Change -2.15% 10.83%
Gross Profit Margin 34.48% 38.56%
Selling, General & Admin $25.33M $28.10M
YoY Change -9.85% 7.25%
% of Gross Profit 31.61% 34.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.54M $25.97M
YoY Change -1.66% 10.7%
% of Gross Profit 31.87% 31.71%
Operating Expenses $203.9M $187.1M
YoY Change 8.98% -2.61%
Operating Profit $28.52M $25.26M
YoY Change 12.92% 26.63%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $9.000K $13.00K
YoY Change -30.77% -96.71%
Pretax Income $28.53M $25.27M
YoY Change 12.89% 24.24%
Income Tax $7.109M $7.135M
% Of Pretax Income 24.92% 28.24%
Net Earnings $21.42M $18.13M
YoY Change 18.11% 19.38%
Net Earnings / Revenue 9.21% 8.54%
Basic Earnings Per Share $0.26 $0.22
Diluted Earnings Per Share $0.26 $0.22
COMMON SHARES
Basic Shares Outstanding 82.84M 82.53M
Diluted Shares Outstanding 83.40M 83.13M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.67M $75.30M
YoY Change 7.13% -9.06%
Cash & Equivalents $80.67M $75.32M
Short-Term Investments
Other Short-Term Assets $23.44M $22.90M
YoY Change 2.38% 16.24%
Inventory
Prepaid Expenses
Receivables $92.92M $83.85M
Other Receivables $4.904M $12.60M
Total Short-Term Assets $201.9M $194.7M
YoY Change 3.71% 0.94%
LONG-TERM ASSETS
Property, Plant & Equipment $680.7M $644.2M
YoY Change 5.67% 7.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.694M $1.916M
YoY Change -11.59% -38.33%
Total Long-Term Assets $682.4M $646.1M
YoY Change 5.62% 7.03%
TOTAL ASSETS
Total Short-Term Assets $201.9M $194.7M
Total Long-Term Assets $682.4M $646.1M
Total Assets $884.4M $840.8M
YoY Change 5.18% 5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.28M $26.18M
YoY Change 50.06% 7.75%
Accrued Expenses $26.27M $25.60M
YoY Change 2.63% -14.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $107.0M $87.58M
YoY Change 22.16% 2.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $421.0K $600.0K
YoY Change -29.83% 20.0%
Total Long-Term Liabilities $421.0K $600.0K
YoY Change -29.83% 20.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $107.0M $87.58M
Total Long-Term Liabilities $421.0K $600.0K
Total Liabilities $230.7M $211.4M
YoY Change 9.12% 8.87%
SHAREHOLDERS EQUITY
Retained Earnings $567.2M $545.0M
YoY Change 4.07% 4.0%
Common Stock $86.41M $84.37M
YoY Change 2.42% 7.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $653.6M $629.4M
YoY Change
Total Liabilities & Shareholders Equity $884.4M $840.8M
YoY Change 5.18% 5.55%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $21.42M $18.13M
YoY Change 18.11% 19.38%
Depreciation, Depletion And Amortization $25.54M $25.97M
YoY Change -1.66% 10.7%
Cash From Operating Activities $39.76M $60.60M
YoY Change -34.38% 68.8%
INVESTING ACTIVITIES
Capital Expenditures -$69.10M -$32.80M
YoY Change 110.66% -32.51%
Acquisitions
YoY Change
Other Investing Activities $25.06M $10.30M
YoY Change 143.29% -8.04%
Cash From Investing Activities -$44.04M -$22.60M
YoY Change 94.86% -39.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.682M 1.200M
YoY Change -406.83% -200.0%
NET CHANGE
Cash From Operating Activities 39.76M 60.60M
Cash From Investing Activities -44.04M -22.60M
Cash From Financing Activities -3.682M 1.200M
Net Change In Cash -7.955M 39.20M
YoY Change -120.29% -1500.0%
FREE CASH FLOW
Cash From Operating Activities $39.76M $60.60M
Capital Expenditures -$69.10M -$32.80M
Free Cash Flow $108.9M $93.40M
YoY Change 16.55% 10.53%

Facts In Submission

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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
39000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-61438000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59190000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6626000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4398000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
597000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
497000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4417000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1253000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
437000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7382000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1015000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14545000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43862000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66127000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31461000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
80672000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
75323000 USD
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
10585000 USD
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
-5985000 USD
mrtn Operating Lease Assets And Liabilities Acquired
OperatingLeaseAssetsAndLiabilitiesAcquired
0 USD
mrtn Operating Lease Assets And Liabilities Acquired
OperatingLeaseAssetsAndLiabilitiesAcquired
88000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8319000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
987000 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
21418000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
18134000 USD
us-gaap Net Income Loss
NetIncomeLoss
39424000 USD
us-gaap Net Income Loss
NetIncomeLoss
31852000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82840000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82527000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82799000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82371000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
832000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5 pure
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 pure
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 USD
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83133000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83384000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83018000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
30000000.0 USD
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
18500000 USD
CY2021Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
11500000 USD
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2020Q4 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
CY2021Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
33400000 USD
CY2021Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2600000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6600000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4400000 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
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1300000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
972000 USD
CY2021Q2 us-gaap Revenues
Revenues
232442000 USD
CY2020Q2 us-gaap Revenues
Revenues
212384000 USD
us-gaap Revenues
Revenues
455488000 USD
us-gaap Revenues
Revenues
431030000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
28518000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25256000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
52516000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
43288000 USD

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