Overview

* Marten Transport ( MRTN ) Q3 revenue misses analyst expectations, declining from the previous year

* Net income for Q3 falls to $2.2 mln from $3.8 mln year-over-year

* Company completes sale of intermodal assets to Hub Group for $51.8 mln

Outlook

* Marten Transport ( MRTN ) expects immigration enforcement to positively impact growth opportunities

Result Drivers

* FREIGHT MARKET RECESSION - CEO Randolph L. Marten attributes earnings pressure to oversupply and weak demand in freight market

* DEDICATED AND BROKERAGE PERFORMANCE - Co highlights positive results from dedicated and brokerage operations despite market challenges

* ASSET SALE TO HUB GROUP - Co completes sale of intermodal assets to Hub Group to focus on core operations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $220.47 $227.28

Revenue mln mln (3

Analysts

)

Q3 EPS $0.03

Q3 Net $2.22

Income mln

Q3 EBIT $2.73

mln

Q3 $217.73

Operatin mln

g

Expenses

Q3 $2.95

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the ground freight & logistics peer group is "buy."

* Wall Street's median 12-month price target for Marten Transport Ltd ( MRTN ) is $11.50, about 4.9% above its October 21 closing price of $10.94

* The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 31 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)