$MRTN
MARTEN TRANSPORT LTD

2022 Q3 Form 10-Q Financial Statement

#000143774922019247 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $324.4M $329.6M $287.3M
YoY Change 29.12% 41.78% 28.8%
Cost Of Revenue $221.5M $225.3M $191.0M
YoY Change 31.94% 47.91% 33.87%
Gross Profit $103.0M $104.3M $96.25M
YoY Change 23.44% 30.14% 19.87%
Gross Profit Margin 31.74% 31.64% 33.51%
Selling, General & Admin $31.69M $31.70M $29.92M
YoY Change 17.48% 25.13% 9.6%
% of Gross Profit 30.77% 30.39% 31.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.38M $26.87M $26.14M
YoY Change 11.86% 5.19% 1.78%
% of Gross Profit 27.56% 25.76% 27.16%
Operating Expenses $70.28M $288.6M $251.4M
YoY Change -68.46% 41.54% 26.31%
Operating Profit $32.70M $40.94M $35.86M
YoY Change 14.74% 43.55% 49.42%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $264.0K $36.00K $7.000K
YoY Change 3200.0% 300.0% -30.0%
Pretax Income $34.03M $40.97M $35.87M
YoY Change 19.39% 43.63% 49.39%
Income Tax $8.384M $9.312M $8.332M
% Of Pretax Income 24.64% 22.73% 23.23%
Net Earnings $25.65M $31.66M $27.53M
YoY Change 20.55% 47.82% 52.91%
Net Earnings / Revenue 7.9% 9.61% 9.58%
Basic Earnings Per Share $0.32 $0.39 $0.33
Diluted Earnings Per Share $315.3K $0.39 $0.33
COMMON SHARES
Basic Shares Outstanding 81.02M 81.69M 82.94M
Diluted Shares Outstanding 81.35M 82.02M 83.25M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.49M $68.37M $66.53M
YoY Change -14.79% -15.24% -24.91%
Cash & Equivalents $71.49M $68.37M $66.53M
Short-Term Investments
Other Short-Term Assets $24.79M $27.44M $22.38M
YoY Change 11.91% 17.03% 15.34%
Inventory
Prepaid Expenses
Receivables $124.6M $138.4M $126.8M
Other Receivables $4.443M $3.681M $4.317M
Total Short-Term Assets $225.3M $237.9M $220.0M
YoY Change 6.31% 17.8% 9.44%
LONG-TERM ASSETS
Property, Plant & Equipment $712.0M $681.8M $663.8M
YoY Change 3.2% 0.15% 1.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.421M $1.483M $1.545M
YoY Change -7.67% -12.46% -9.01%
Total Long-Term Assets $713.4M $683.2M $665.4M
YoY Change 3.18% 0.12% 1.69%
TOTAL ASSETS
Total Short-Term Assets $225.3M $237.9M $220.0M
Total Long-Term Assets $713.4M $683.2M $665.4M
Total Assets $938.7M $921.1M $885.4M
YoY Change 3.91% 4.16% 3.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.19M $48.46M $29.16M
YoY Change 28.2% 23.38% -9.05%
Accrued Expenses $36.61M $36.57M $37.63M
YoY Change 12.05% 39.18% 56.15%
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 $125.5M $130.7M $109.4M
YoY Change -17.61% 22.18% 11.78%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $214.0K $275.0K $336.0K
YoY Change -36.31% -34.68% 12.0%
Total Long-Term Liabilities $214.0K $275.0K $336.0K
YoY Change -36.31% -34.68% 12.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $125.5M $130.7M $109.4M
Total Long-Term Liabilities $214.0K $275.0K $336.0K
Total Liabilities $256.3M $261.0M $236.6M
YoY Change -6.23% 13.11% 7.38%
SHAREHOLDERS EQUITY
Retained Earnings $635.3M $614.5M $587.7M
YoY Change 16.84% 8.33% 7.02%
Common Stock $47.18M $45.68M $61.08M
YoY Change -45.38% -47.14% -28.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $682.4M $660.2M $648.8M
YoY Change
Total Liabilities & Shareholders Equity $938.7M $921.1M $885.4M
YoY Change 3.91% 4.16% 3.51%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $25.65M $31.66M $27.53M
YoY Change 20.55% 47.82% 52.91%
Depreciation, Depletion And Amortization $28.38M $26.87M $26.14M
YoY Change 11.86% 5.19% 1.78%
Cash From Operating Activities $64.55M $58.73M $39.94M
YoY Change 44.92% 47.69% -8.33%
INVESTING ACTIVITIES
Capital Expenditures -$62.09M -$46.90M -$11.92M
YoY Change 3.07% -32.12% -61.92%
Acquisitions
YoY Change
Other Investing Activities $4.673M $11.49M $38.00K
YoY Change -76.07% -54.15% 2.7%
Cash From Investing Activities -$57.41M -$35.41M $409.0K
YoY Change 41.05% -19.59% -102.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.021M -21.47M -$30.82M
YoY Change 557.03% 483.11% 733.57%
NET CHANGE
Cash From Operating Activities 64.55M 58.73M $39.94M
Cash From Investing Activities -57.41M -35.41M $409.0K
Cash From Financing Activities -4.021M -21.47M -$30.82M
Net Change In Cash 3.118M 1.847M $9.532M
YoY Change -3.41% -123.22% -57.55%
FREE CASH FLOW
Cash From Operating Activities $64.55M $58.73M $39.94M
Capital Expenditures -$62.09M -$46.90M -$11.92M
Free Cash Flow $126.6M $105.6M $51.86M
YoY Change 20.86% -2.97% -30.74%

Facts In Submission

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ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
497000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1253000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-52287000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7382000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11379000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14545000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
56995000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
66127000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68374000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
80672000 usd
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
9765000 usd
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
10585000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9045000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8319000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
31661000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
21418000 usd
us-gaap Net Income Loss
NetIncomeLoss
59194000 usd
us-gaap Net Income Loss
NetIncomeLoss
39424000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81689000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82840000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82310000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82799000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
326000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
557000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
307000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
585000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82015000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83397000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82617000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83384000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2022Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
30000000.0 usd
CY2022Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
16100000 usd
CY2022Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
13900000 usd
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
18500000 usd
CY2022Q2 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit
0.25 pure
CY2022Q2 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit
0.25 pure
CY2022Q2 mrtn Line Of Credit Facility Waiver To Pay Dividends Maximum
LineOfCreditFacilityWaiverToPayDividendsMaximum
80000000 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
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000.0 usd
CY2022Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
3100000
CY2022Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1300000
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
963000
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16800000 usd
CY2022Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
33200000 usd
CY2022Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2200000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
521000 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1600000 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1300000 usd
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022Q2 us-gaap Revenues
Revenues
329565000 usd
CY2021Q2 us-gaap Revenues
Revenues
232442000 usd
us-gaap Revenues
Revenues
616846000 usd
us-gaap Revenues
Revenues
455488000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
40937000 usd
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
28518000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
76795000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
52516000 usd

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