Marten Transport, Ltd. · NASDAQ:MRTN
Marten Transport — Q3 2022 Earnings Presentation
18 slides from Marten Transport's earnings presentation, October 2022
Slide 1: WAI Te]
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Slide 2: Disclosure
Disclosure This presentation and discussion will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “anticipates,” “intends,” “estimates,” or similar expressions are intended to identify these forward-looking statem
Slide 3: Consistently Improving Organic Operating Results No Matter the Market Environment
Consistently Improving Organic Operating Results No Matter the Market Environment Each year since 2018 has had a very different market environment In each year from 2018 through 2021, we set the then-current record for our highest annual operating revenue and operating income. We also achieved in ea
Slide 4: Consistent Profitable Organic Growth During the Pandemic
Consistent Profitable Organic Growth During the Pandemic Quarter-over-quarter for the ten consecutive quarters since the pandemic began, we have delivered consistently improving top- and bottom-line results Operating Results Since the Pandemic Began – Percentage Increase Over Same Quarter of Prior Y
Slide 5: Expanding Regional Operating Centers Network
Expanding Regional Operating Centers Network THE FOUNDATION of Marten’s growing business platform network designed for the best, most-efficient transportation service solutions for Marten’s customers • Truckload – regional temp and dry and OTR operating from 15 regional service centers--40% of reven
Slide 6: Marten's Solar Commitment
ra cbs 2 53 y he ¥- Marten’s Solartcommftment Wi vol ae Tractor, Auxiliary Power Unit and Refrigerated Trailer Power Unit Integration + Nationwide Terminal and Office Installations Mondovi Memphis Carlisle Dallas Richmond Laredo Atlanta Jurupa Valley Tampa Phoenix Kansas City’ Portland Indianapolis
Slide 7: Marten's Consistent Dedicated, Intermodal and Brokerage Growth
Marten’s Consistent Dedicated, Intermodal and Brokerage Growth Dedicated Revenue (excluding fuel surcharges) Intermodal Revenue (excluding fuel surcharges) In millions In millions $300 $100 21% 2% 22% 9% $275 $90 $250 (9)% 3% 20% $80 $225 22% $70 $200 $175 $60 $150 $50 $125 $40 $100 26% 25% 32% 26%
Slide 8: Consistent Growth in Quarterly Operating Income Across Dedicated, Intermodal and Brokerage
Consistent Growth in Quarterly Operating Income Across our Dedicated, Intermodal and Brokerage Businesses Since 2014 Dedicated Operating Income Intermodal Operating Income In thousands In thousands $16,000 $5,400 880% 536% 943% $14,000 $4,600 $12,000 748% 705% 256% $3,800 262% $10,000 >100% $3,000 $
Slide 9: Consistent Growth in Dry Regional Truckload Operations Since the Pandemic Began
Consistent Growth in Dry Regional Truckload Operations Since the Pandemic Began -We built our regional service centers with the vision to expand into dry operations – a market 5X > temp -Operating out of our Kansas City, Phoenix, Atlanta and Tampa facilities through 2021 -1H ’22 expansion of our dry
Slide 10: MRTN de Mexico Growth
MRTN de Mexico Growth -Results-driven performance –- operating revenue excluding fuel surcharges has increased 35% from $57.6 million for the TTM ended September 30, ’21 to $77.7 million for the TTM ended September 30, ’22 -Temperature growth history with more expansive growth in the works -Dry expa
Slide 11: Net Capital Expenditures
Net Capital Expenditures In millions $180 $160 $160 $141.7 $140 $123.7 $120 $104.8 $106.3 $100 $80 $60 $40 $20 $0 2018 2019 2020 2021 2022 Estimate
Slide 12: Marten People, Model and Culture/Data-Driven Measured/Disciplined Management
Marten People, Model and Culture/Data-Driven Measured/Disciplined Management COVID-19 Pandemic has required accelerated disciplined data management changes • Marten people initiate and implement our strategic vision and key strategic initiatives • Marten people developed and continuously update our
Slide 13: Consistent Record Improvement in Marten's Operating Revenue Excluding Fuel Surcharges
Consistent Record Improvement in Marten’s Operating Revenue Excluding Fuel Surcharges -2021 was the 11th straight year with our highest operating revenue excluding fuel s/c -In Q3YTD ’22 we had the best operating revenue excluding fuel s/c for any year’s first nine months in our history In millions
Slide 14: Consistent Record Improvement in Marten's Operating Income No Matter the Environment
Consistent Record Improvement in Marten’s Operating Income No Matter the Environment -Each year from 2018 through 2021 we had the then-best operating income in our history - In Q3YTD ’22 we had the best operating income for any year’s first nine months in our history In millions $120 20% $110 $100 2
Slide 15: Consistent Record Improvement in Marten's Operating Ratio, Net of Fuel S/C
Consistent Record Improvement in Marten’s Operating Ratio, Net of Fuel S/C -In each of 2020 and 2021 we achieved our then-best ratios for any year since we became a public company in 1986 - In Q3YTD ’22 we had our best ratio for any year’s first nine months since we became a public company 94% 93.5%
Slide 16: Consistent Improvement in Marten's Earnings – Cents Per Diluted Share
Consistent Improvement in Marten’s Earnings – Cents Per Diluted Share(1) -2021 improved 23% over 2020 -Q3YTD ’22 improved 42% over Q3YTD ’21 $1.10 23% $1.00 $0.90 13% $0.80 11% 62%(2) $0.70 $0.60 $0.50 20% (3)% -%(2) 50% 10% $0.40 12% (2)% 53% 24% 23% $0.30 21% $0.20 $0.10 $0.00 2009 2010 2011 2012
Slide 17: Stock Buyback and 50% Increase in Quarterly Cash Dividend
Stock Buyback and 50% Increase in Quarterly Cash Dividend Reflecting our confidence in Marten’s financial strength and commitment to enhancing stockholder value, we repurchased and retired 2.3 million shares of our common stock for $41.8 million during 1H ’22 and increased our regular quarterly cash
Slide 18: Consistently Improving Operating Results
Consistently Improving Operating Results Nothing has changed since Chris Henry wrote this in Dec. 2018: “Quarter-over-quarter, year-over-year, Marten Transport (NASDAQ: MRTN) has delivered consistent, top quartile results. Key word is consistent. When compared to many of the others, you don’t see ve