Markets

Stock Alert: Upbeat Results Drives Marten Transport Up

(RTTNews) - Shares of Marten Transport, Ltd. (MRTN), a temperature-sensitive truckload carrier for shippers are climbing more than 10% on the news of upbeat second-quarter results. The stock touched a new high of $30.09.

Net income in the second quarter increased 19.4% to $18.1 million, or $0.33 per share, from $15.2 million, or $0.28 per share in the same period a year ago.

Revenue for the quarter edged up to $212.4 million from $212.1 million last year.

Analysts polled by Thomson Reuters were expecting earnings of $0.23 per share on revenue of $205.37 million for the quarter.

Marten Transport also declared a three-for-two stock split and a regular quarterly cash dividend of $0.04 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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