$MRTN
MARTEN TRANSPORT LTD

2022 Q4 Form 10-Q Financial Statement

#000143774922026248 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $322.6M $324.4M $251.3M
YoY Change 20.87% 29.12% 16.33%
Cost Of Revenue $220.9M $221.5M $167.9M
YoY Change 22.99% 31.94% 23.34%
Gross Profit $101.7M $103.0M $83.42M
YoY Change 16.53% 23.44% 4.4%
Gross Profit Margin 31.53% 31.74% 33.2%
Selling, General & Admin $32.85M $31.69M $26.97M
YoY Change 22.71% 17.48% -5.02%
% of Gross Profit 32.3% 30.77% 32.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.63M $28.38M $25.37M
YoY Change 14.1% 11.86% -0.82%
% of Gross Profit 29.13% 27.56% 30.41%
Operating Expenses $71.87M $70.28M $222.8M
YoY Change 17.76% -68.46% 16.27%
Operating Profit $29.83M $32.70M $28.50M
YoY Change 13.66% 14.74% 16.79%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $520.0K $264.0K $8.000K
YoY Change 3150.0% 3200.0% -52.94%
Pretax Income $33.30M $34.03M $28.50M
YoY Change 8.5% 19.39% 16.74%
Income Tax $7.789M $8.384M $7.230M
% Of Pretax Income 23.39% 24.64% 25.36%
Net Earnings $25.51M $25.65M $21.27M
YoY Change 3.17% 20.55% 17.9%
Net Earnings / Revenue 7.91% 7.9% 8.47%
Basic Earnings Per Share $0.32 $0.26
Diluted Earnings Per Share $313.5K $315.3K $0.26
COMMON SHARES
Basic Shares Outstanding 81.10M 81.02M 82.91M
Diluted Shares Outstanding 81.35M 83.37M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.60M $71.49M $83.90M
YoY Change 41.42% -14.79% -4.98%
Cash & Equivalents $80.60M $71.49M $83.90M
Short-Term Investments
Other Short-Term Assets $27.32M $24.79M $22.15M
YoY Change 679.68% 11.91% 7.52%
Inventory
Prepaid Expenses
Receivables $120.7M $124.6M $99.69M
Other Receivables $7.218M $4.443M $6.208M
Total Short-Term Assets $235.8M $225.3M $211.9M
YoY Change 26.15% 6.31% 10.07%
LONG-TERM ASSETS
Property, Plant & Equipment $728.2M $712.0M $689.9M
YoY Change 6.73% 3.2% 3.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.672M $1.421M $1.539M
YoY Change 14.21% -7.67% -21.08%
Total Long-Term Assets $729.8M $713.4M $691.4M
YoY Change 6.74% 3.18% 3.74%
TOTAL ASSETS
Total Short-Term Assets $235.8M $225.3M $211.9M
Total Long-Term Assets $729.8M $713.4M $691.4M
Total Assets $965.7M $938.7M $903.4M
YoY Change 10.91% 3.91% 5.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.30M $43.19M $33.69M
YoY Change 85.11% 28.2% 37.15%
Accrued Expenses $41.26M $36.61M $32.67M
YoY Change 31.43% 12.05% 21.89%
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 $124.3M $125.5M $152.3M
YoY Change 32.87% -17.61% 73.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $409.0K $214.0K $336.0K
YoY Change 40.55% -36.31% -32.8%
Total Long-Term Liabilities $409.0K $214.0K $336.0K
YoY Change 40.55% -36.31% -32.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $124.3M $125.5M $152.3M
Total Long-Term Liabilities $409.0K $214.0K $336.0K
Total Liabilities $261.8M $256.3M $273.3M
YoY Change 19.52% -6.23% 27.5%
SHAREHOLDERS EQUITY
Retained Earnings $655.9M $635.3M $543.7M
YoY Change 16.07% 16.84% -2.82%
Common Stock $48.00M $47.18M $86.37M
YoY Change -44.54% -45.38% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $703.9M $682.4M $630.1M
YoY Change
Total Liabilities & Shareholders Equity $965.7M $938.7M $903.4M
YoY Change 10.91% 3.91% 5.16%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $25.51M $25.65M $21.27M
YoY Change 3.17% 20.55% 17.9%
Depreciation, Depletion And Amortization $29.63M $28.38M $25.37M
YoY Change 14.1% 11.86% -0.82%
Cash From Operating Activities $56.27M $64.55M $44.54M
YoY Change 29.96% 44.92% -11.97%
INVESTING ACTIVITIES
Capital Expenditures $55.72M -$62.09M -$60.23M
YoY Change -244.11% 3.07% -6.32%
Acquisitions
YoY Change
Other Investing Activities $13.18M $4.673M $19.53M
YoY Change -22.82% -76.07% -34.24%
Cash From Investing Activities -$42.54M -$57.41M -$40.70M
YoY Change 97.03% 41.05% 17.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.618M -4.021M -612.0K
YoY Change -90.5% 557.03% -80.26%
NET CHANGE
Cash From Operating Activities 56.27M 64.55M 44.54M
Cash From Investing Activities -42.54M -57.41M -40.70M
Cash From Financing Activities -4.618M -4.021M -612.0K
Net Change In Cash 9.108M 3.118M 3.228M
YoY Change -133.85% -3.41% -75.17%
FREE CASH FLOW
Cash From Operating Activities $56.27M $64.55M $44.54M
Capital Expenditures $55.72M -$62.09M -$60.23M
Free Cash Flow $550.0K $126.6M $104.8M
YoY Change -99.33% 20.86% -8.81%

Facts In Submission

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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1610000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1926000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-56308000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7994000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14497000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17773000 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
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
71492000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
83900000 usd
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 usd
CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
44789000 usd
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
10132000 usd
mrtn Increase Decrease Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseCapitalExpendituresIncurredButNotYetPaid
692000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
16413000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
17214000 usd
us-gaap Interest Paid Net
InterestPaidNet
52000 usd
us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
25646000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
21274000 usd
us-gaap Net Income Loss
NetIncomeLoss
84840000 usd
us-gaap Net Income Loss
NetIncomeLoss
60698000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81061000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82907000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81889000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82835000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
286000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
465000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
266000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
545000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81347000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83372000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82155000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83380000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.73
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
30000000.0 usd
CY2022Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
16100000 usd
CY2022Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
13900000 usd
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
18500000 usd
CY2022Q3 mrtn Line Of Credit Facility Dividends Payment Maximum
LineOfCreditFacilityDividendsPaymentMaximum
150000000 usd
CY2022Q3 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit
0.25 pure
CY2022Q3 mrtn Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit1
LineOfCreditFacilityDividendRestrictionsPercentageOfNetIncomeLimit1
0.25 pure
CY2022Q3 mrtn Line Of Credit Facility Waiver To Pay Dividends Maximum
LineOfCreditFacilityWaiverToPayDividendsMaximum
80000000 usd
CY2021Q4 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
CY2022Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
33200000 usd
CY2022Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2200000
CY2021Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
44800000 usd
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.04
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2200000 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1800000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
459000 usd
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022Q3 us-gaap Revenues
Revenues
324448000 usd
CY2021Q3 us-gaap Revenues
Revenues
251280000 usd
us-gaap Revenues
Revenues
941294000 usd
us-gaap Revenues
Revenues
706768000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
33766000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
28496000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
110561000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
81012000 usd

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