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![MARTEN TRANSPORT LTD [MRTN] reports annual net loss of $70.4 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FMRTN.png&w=1200&q=75)
MARTEN TRANSPORT LTD [MRTN] has reported a net loss of $70.4 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.1 billion
Based in MONDOVI, Wisconsin, MARTEN TRANSPORT LTD operates in the TRANSPORT sector.
In the 12 months ended on December 31, 2023, the operating revenue for the company amounted to $1.131 billion, showing a decrease compared to the previous year's revenue of $1.264 billion in the same period.
Cost of goods sold and operating expenses for the period included salaries, wages, and benefits totaling $378.818 million, a decrease from $390.304 million in the previous year. Purchased transportation costs were $199.334 million, down from $249.792 million in the previous year. However, fuel and fuel taxes increased to $180.437 million from $218.571 million in the prior period. Other operating expenses totaled $1.041 billion, compared to $1.121 billion the previous year.
The company reported a net income of $70.373 million for the current reporting period, which was lower than the net income of $110.354 million in the same period last year.
Basic earnings per common share for the current period were $0.87, a decrease from $1.35 in the previous year. Diluted earnings per common share were $0.86, down from $1.35 in the comparable period.
It is important to note that the company declared dividends per common share at $0.24 for both the current and previous periods.
In conclusion, the company experienced a decrease in operating revenue, net income, and earnings per share for the 12 months ended December 31, 2023, compared to the same period in 2022.