Dive Brief:
- Brokerage and Dedicated segments improved in Q4 for Marten Transport, contributing to a record $143.3 million in operating income for 2022, the company said Jan. 24 in a news release.
- To round out the year, Brokerage increased 34.7% to $5.8 million for Q4, and Dedicated jumped 54.8% to $12.9 million, while TL and intermodal segments saw setbacks.
- The carrier has enjoyed more than three years of consecutive-quarter YoY profit growth.
Marten segments see mix of growth, decline
Dive Insight:
Marten’s brokerage services contributed to a record in operating income in the company’s 77-year history. The segment led the biggest uptick across divisions with a shift from $14.8 million to $22.7 million for the entire year.
Brokerage services for Marten benefit from rate per mile and customer charges, and the segment’s jump in Q2 operating income was unlike any other increase it had in recent years. In the first nine months of 2022, the segment’s revenue increased 52%, primarily due to upticks in the number of loads and revenue per load, the company said for a Q3 earnings report.
Signs of challenges are happening across the industry, too. Knight-Swift’s operating income shot down 41% to $203 million for Q4 YoY. ArcBest saw its operating income drop from $86.9 million to $51.2 million during that same timeframe, too.
“Despite the challenges in 2022 as a result of ongoing macro trends, the ArcBest team remained focused on serving our customers and advancing our strategic initiatives,” CEO, President and Chairman Judy McReynolds said in a news release. “We see tremendous opportunity ahead.”
