Marten Transport, Ltd. · NASDAQ:MRTN
Marten Transport — Q1 2021 Earnings Presentation
17 slides from Marten Transport's earnings presentation, Jul 15, 2021
Slide 1: LAN? EY
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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: Celebrating 75 Years!
Celebrating 75 Years! We’re proudly observing Marten’s 75th anniversary, and proudly reporting how our unique business model is keeping a 75-year-old company new. Marten began as a one-man milk truck operation in rural Wisconsin, and has evolved into an industry-leading multifaceted business providi
Slide 4: Consistent Operating Results No Matter the Market Environment
Consistent Operating Results No Matter the Market Environment 2018, 2019, 2020 and Q1 ’21 were each very different market environments Each of the last three years set the then-current record for our highest annual operating revenue and operating income. We also achieved in 2020 our best operating r
Slide 5: Regional Operating Centers Network
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 • Dedicated – customize
Slide 6: Marten's Solar Commitment
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 In Partnership with All Energy Solar, St. Paul, MN
Slide 7: Continued Organic Truckload and Dedicated Tractor Growth
Continued Organic Truckload and Dedicated Tractor Growth Growth of 543 tractors, or 20.4%, since Dec. 31, 2018 to 3,210 tractors at Mar. 31, 2021 - within a period of industry contraction 3,400 3,200 3,000 2,800 2,600 12/18 3/19 6/19 9/19 12/19 3/20 6/20 9/20 12/20 3/21 “…admit that the waters aroun
Slide 8: Marten's Dedicated, Intermodal and Brokerage Growth
Marten’s Dedicated, Intermodal and Brokerage Growth Dedicated Revenue (excluding fuel surcharges) Intermodal Revenue (excluding fuel surcharges) In millions In millions $300 $100 21% 22% $275 $90 $250 (9)% 3% 20% $80 $225 $200 22% $70 $175 $60 $150 $50 $125 $40 $100 4% $30 (6)% $75 $50 $20 $25 $10 $
Slide 9: Net Capital Expenditures
Net Capital Expenditures In millions $160 $141.7 $135 $140 $120 $104.8 $106.3 $100 $80 $60 $40 $20 $0 2018 2019 2020 2021 Estimate
Slide 10: Marten People, Model and Culture/Data-Driven Measurement/Disciplined Management
Marten People, Model and Culture/Data-Driven Measurement/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 o
Slide 11: Growth in Quarterly Operating Income Across our Dedicated, Intermodal and Brokerage Businesses
Growth in Quarterly Operating Income Across our Dedicated, Intermodal and Brokerage Businesses Since 2014 Dedicated Operating Income Intermodal Operating Income In thousands In thousands $12,000 $3,300 699% 439% 202% 135% 324% $2,800 $10,000 98% 576% $2,300 $8,000 >100% $1,800 $6,000 $1,300 $4,000 $
Slide 12: Improvement in Marten's Revenue Excluding Fuel Surcharges
Improvement in Marten’s Revenue Excluding Fuel Surcharges -2020 was the 10th straight year with our highest operating revenue excluding fuel s/c -Q1’21 overcame the severe weather in Feb. to kick-start revenue growth in 2021 In millions 7% $800 9% 8% $700 2% 4% 8% $600 3% 3% 5% 11% $500 (2)% $400 $3
Slide 13: Improvement in Marten's Operating Income
Improvement in Marten’s Operating Income -2018, 2019 and then 2020 each had the best operating income in our history -Q1 ’21 had the best operating income for any first quarter in our history In millions $100 22% $90 $80 9% 24% $70 20% (5)% (2)% $60 13% (2)% $50 7% 22% $40 20% $30 33% $20 $10 $0 200
Slide 14: Improvement in Marten's Operating Ratio, Net of Fuel S/C
Improvement in Marten’s Operating Ratio, Net of Fuel S/C 2020 had the best ratio for any year since we became a public company in 1986 94% 93.5% 93% 92.0% 92% 91.2% 91.1% 90.7% 91.0% 90.7% 91% 90.6% 90.2% 89.7% 89.7% 89.7% 90% 89% 88.2% 87.9% 88% 87% 86% 85% 200 9 201 0 201 1 201 2 201 3 201 4 201 5
Slide 15: Improvement in Marten's Earnings – Cents Per Diluted Share
Improvement in Marten’s Earnings – Cents Per Diluted Share(1) -2020 improved 13% over 2019 -Q1 ’21 improved 30% over Q1 ’20 $0.90 13% $0.80 11% 62%(2) $0.70 $0.60 $0.50 20% (3)% -%(2) 10% $0.40 12% (2)% 23% $0.30 21% 30% $0.20 $0.10 $0.00 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q
Slide 16: Consistent, Strong Operating Results
Consistent, Strong 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 very m
Slide 17: Stock Split, 50% Increase in Cash Dividend and Special Cash Dividend
Stock Split, 50% Increase in Cash Dividend and Special Cash Dividend On Aug. 13, 2020, we effected a three-for-two stock split of our common stock in the form of a 50% stock dividend. The stock split, which reflects our continued strong financial condition, increased our number of outstanding shares