Marten Transport (MRTN) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 26, 2021
Document Information [Line Items]
Entity Central Index Key	0000799167
Entity Registrant Name	MARTEN TRANSPORT LTD
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Entity File Number	0-15010
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-1140809
Entity Address, Address Line One	129 Marten Street
Entity Address, City or Town	Mondovi
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54755
City Area Code	715
Local Phone Number	926-4216
Title of 12(b) Security	COMMON STOCK, PAR VALUE
Trading Symbol	MRTN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82,775,487

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 88,583	$ 66,127
Trade, net	89,552	83,426
Other	3,489	4,202
Prepaid expenses and other	19,434	21,903
Total current assets	201,058	175,658
Property and equipment:
Revenue equipment, buildings and land, office equipment and other	934,405	930,123
Accumulated depreciation	(281,812)	(275,950)
Net property and equipment	652,593	654,173
Other noncurrent assets	1,698	1,805
Total assets	855,349	831,636
Current liabilities:
Accounts payable	32,060	25,702
Insurance and claims accruals	41,712	39,595
Accrued and other current liabilities	24,079	24,497
Total current liabilities	97,851	89,794
Deferred income taxes	122,183	121,098
Noncurrent operating lease liabilities	337	411
Total liabilities	220,371	211,303
Stockholders’ equity:
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $.01 par value per share; 192,000,000 shares authorized; 82,774,936 shares at March 31, 2021, and 82,705,005 shares at December 31, 2020, issued and outstanding	828	827
Additional paid-in capital	85,019	85,070
Retained earnings	549,131	534,436
Total stockholders’ equity	634,978	620,333
Total liabilities and stockholders’ equity	$ 855,349	$ 831,636

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	192,000,000	192,000,000
Common stock, shares issued (in shares)	82,774,936	82,705,005
Common stock, shares outstanding (in shares)	82,774,936	82,705,005

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating revenue	$ 223,046	$ 218,646
Operating expenses (income):
Salaries, wages and benefits	72,998	72,761
Purchased transportation	40,765	40,445
Fuel and fuel taxes	28,937	28,297
Supplies and maintenance	11,015	12,228
Depreciation	25,687	25,427
Operating taxes and licenses	2,712	2,639
Insurance and claims	11,446	12,284
Communications and utilities	2,083	1,985
Other	5,389	6,103
Total operating expenses	199,048	200,614
Operating income	23,998	18,032
Other	(10)	(97)
Income before income taxes	24,008	18,129
Income taxes expense	6,002	4,411
Net income	$ 18,006	$ 13,718
Basic earnings per common share (in dollars per share)	$ 0.22	$ 0.17
Diluted earnings per common share (in dollars per share)	0.22	0.17
Dividends declared per common share (in dollars per share)	$ 0.04	$ 0.027
Revenue Equipment [Member]
Operating expenses (income):
Gain on disposition of property, plant and equipment	$ (1,984)	$ (1,555)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	82,055,000
Balance at Dec. 31, 2019	$ 821,000	$ 79,465,000	$ 517,303,000	$ 597,589,000
Net income	$ 0	0	13,718,000	$ 13,718,000
Repurchase and retirement of common stock (in shares)	(53,000)			(53,064)
Repurchase and retirement of common stock	$ (1,000)	(596,000)	0	$ (597,000)
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	259,000
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 3,000	1,052,000	(1,000)	1,054,000
Employee taxes paid in exchange for shares withheld	0	(437,000)	0	(437,000)
Share-based payment arrangement compensation expense	0	246,000	0	246,000
Dividends on common stock	$ 0	0	(2,193,000)	(2,193,000)
Balance (in shares) at Mar. 31, 2020	82,261,000
Balance at Mar. 31, 2020	$ 823,000	79,730,000	528,827,000	609,380,000
Net income	$ 0	0	55,782,000	$ 55,782,000
Repurchase and retirement of common stock (in shares)				0
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	444,000
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 4,000	3,735,000	0	$ 3,739,000
Share-based payment arrangement compensation expense	0	1,605,000	0	1,605,000
Dividends on common stock	$ 0	0	(50,173,000)	(50,173,000)
Balance (in shares) at Dec. 31, 2020	82,705,000
Balance at Dec. 31, 2020	$ 827,000	85,070,000	534,436,000	620,333,000
Net income	$ 0	0	18,006,000	$ 18,006,000
Repurchase and retirement of common stock (in shares)				0
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	70,000
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 1,000	160,000	0	$ 161,000
Employee taxes paid in exchange for shares withheld	0	(547,000)	0	(547,000)
Share-based payment arrangement compensation expense	0	336,000	0	336,000
Dividends on common stock	$ 0	0	(3,311,000)	(3,311,000)
Balance (in shares) at Mar. 31, 2021	82,775,000
Balance at Mar. 31, 2021	$ 828,000	$ 85,019,000	$ 549,131,000	$ 634,978,000

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Cash flows provided by operating activities:
Net income	$ 18,006	$ 13,718	$ 55,782
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	25,687	25,427
Tires in service amortization	1,642	1,706
Deferred income taxes	1,085	1,768
Share-based payment arrangement compensation expense	336	246
Changes in other current operating items:
Receivables	(4,241)	(782)
Prepaid expenses and other	1,445	930
Accounts payable	677	617
Insurance and claims accruals	2,117	2,695
Accrued and other current liabilities	(1,200)	(1,290)
Net cash provided by operating activities	43,570	43,480
Cash flows used for investing activities:
Other	(37)	(39)
Net cash used for investing activities	(17,417)	(36,632)
Cash flows used for financing activities:
Dividends on common stock	(3,311)	(2,193)
Repurchase and retirement of common stock	0	(597)
Issuance of common stock from share-based payment arrangement exercises	161	1,054
Employee taxes paid in exchange for shares withheld	(547)	(437)
Net cash used for financing activities	(3,697)	(2,173)
Net change in cash and cash equivalents	22,456	4,675
Cash and cash equivalents:
Beginning of period	66,127	31,461	36,136
End of period	88,583	36,136	$ 66,127
Supplemental non-cash disclosure:
Change in property and equipment not yet paid	5,505	11,107
Operating lease assets and liabilities acquired	0	88
Supplemental disclosure of cash flow information:
Income taxes	1,350	0
Interest	0	0
Revenue Equipment [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposition of property, plant and equipment	(1,984)	(1,555)
Cash flows used for investing activities:
Property, plant and equipment additions	(30,226)	(44,086)
Proceeds from property, plant and equipment dispositions	13,896	9,459
Buildings And Land Office Equipment And Other [Member]
Cash flows used for investing activities:
Property, plant and equipment additions	$ (1,050)	$ (1,966)

Note 1 - Consolidated Condensed

Note 1 - Consolidated Condensed Financial Statements	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 1 The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial statements, and therefore do not not 2020 10

Note 2 - Earnings per Common Sh

Note 2 - Earnings per Common Share	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	( 2 Basic and diluted earnings per common share were computed as follows: Three Months Ended March 31, (In thousands, except per share amounts) 2021 2020 Numerator: Net income $ 18,006 $ 13,718 Denominator: Basic earnings per common share - weighted-average shares 82,758 82,214 Effect of dilutive stock options 601 650 Diluted earnings per common share - weighted-average shares and assumed conversions 83,359 82,864 Basic earnings per common share $ 0.22 $ 0.17 Diluted earnings per common share $ 0.22 $ 0.17 Options totaling 193,750 and 294,450 equivalent shares for the three March 31, 2021 2020, not Unvested performance unit awards totaling 40,263 and 77,066 equivalent shares for the three March 31, 2021 2020, not

Note 3 - Stock Split

Note 3 - Stock Split	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Stock Split Disclosure [Text Block]	( 3 On August 13, 2020, three two $.01

Note 4 - Long-term Debt

Note 4 - Long-term Debt	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	( 4 We maintain a credit agreement that provides for an unsecured committed credit facility with an aggregate principal amount of $30.0 million which matures in August 2023. March 31, 2021, December 31, 2020, March 31, 2021. Our credit facility prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of 25% of our net income from the prior fiscal year. A waiver allowing stock redemptions and dividends in excess of the 25% 2020 November 2020. March 31, 2021 December 31, 2020.

Note 5 - Related Party Transact

Note 5 - Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	( 5 We purchase fuel and tires and obtain related services from Bauer Built, Inc., or BBI. Jerry M. Bauer, the chairman of the board and chief executive officer of BBI, is one first three 2021 first three 2020 first three 2021 first three 2020

Note 6 - Share Repurchase Progr

Note 6 - Share Repurchase Program	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Treasury Stock [Text Block]	( 6 In August 2019, August 2020 three two August 13, 2020. 10b 18 not We repurchased and retired 53,064 shares of common stock for $597,000 in the first 2020. not 2020 first 2021. March 31, 2021,

Note 7 - Dividends

Note 7 - Dividends	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Dividends [Text Block]	( 7 In 2010, first 2021 first 2020 Our ability to pay cash dividends is currently limited by restrictions contained in our revolving credit facility, which prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of 25% of our net income from the prior fiscal year. A waiver allowing stock redemptions and dividends in excess of the 25% 2020 November 2020.

Note 8 - Accounting for Share-b

Note 8 - Accounting for Share-based Payment Arrangement Compensation	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 8 We account for share-based payment arrangements in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, 718, Compensation Stock Compensation first three 2021, no first three 2021 2020

Note 9 - Termination of Deferre

Note 9 - Termination of Deferred Compensation Plan	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Compensation Related Costs, General [Text Block]	( 9 On May 5, 2020, May 5, 2021.

Note 10 - Fair Value of Financi

Note 10 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 10 The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments.

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 11 We are committed to new revenue equipment purchases of $89.3 million through the remainder of 2021. 2025 We self-insure, in part, for losses relating to workers’ compensation, auto liability, general liability, cargo and property damage claims, along with employees’ health insurance with varying risk retention levels. We maintain insurance coverage for per-incident and total losses in excess of these risk retention levels in amounts we consider adequate based upon historical experience and our ongoing review, and reserve currently for the estimated cost of the uninsured portion of pending claims. We are also involved in other legal actions that arise in the ordinary course of business. In the opinion of management, based upon present knowledge of the facts, it is remote that the ultimate outcome of any such legal actions will have a material adverse effect upon our long-term financial position or results of operations.

Note 12 - Revenue and Business

Note 12 - Revenue and Business Segments	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 12 We account for our revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers four 606. We have strategically transitioned from a refrigerated long-haul carrier to a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across our five The primary source of our operating revenue is provided by our Truckload segment through a combination of regional short-haul and medium-to-long-haul full-load transportation services. We transport food and other consumer packaged goods that require a temperature-controlled or insulated environment, along with dry freight, across the United States and into and out of Mexico and Canada. Our agreements with customers are typically for one Our Dedicated segment provides customized transportation solutions tailored to meet individual customers’ requirements, utilizing temperature-controlled trailers, dry vans and other specialized equipment within the United States. Our agreements with customers range from three five Generally, we are paid by the mile for our Truckload and Dedicated services. We also derive Truckload and Dedicated revenue from fuel surcharges, loading and unloading activities, equipment detention and other accessorial services. The main factors that affect our Truckload and Dedicated revenue are the rate per mile we receive from our customers, the percentage of miles for which we are compensated, the number of miles we generate with our equipment and changes in fuel prices. We monitor our revenue production primarily through average Truckload and Dedicated revenue, net of fuel surcharges, per tractor per week. We also analyze our average Truckload and Dedicated revenue, net of fuel surcharges, per total mile, non-revenue miles percentage, the miles per tractor we generate, our fuel surcharge revenue, our accessorial revenue and our other sources of operating revenue. Our Intermodal segment transports our customers’ freight within the United States utilizing our temperature-controlled trailers and, beginning in September 2019, Our Brokerage segment develops contractual relationships with and arranges for third 2007 Operating results of our MRTN de Mexico business which offers our customers door-to-door service between the United States and Mexico with our Mexican partner carriers is reported within our Truckload and Brokerage segments. Our customer agreements are typically for one three five 606, four four no four one March 31, 2021 December 31, 2020, first 2021 2020. 30 We account for revenue of our Intermodal and Brokerage segments and revenue on freight transported by independent contractors within our Truckload and Dedicated segments on a gross basis because we are the principal service provider controlling the promised service before it is transferred to each customer. We are primarily responsible for fulfilling the promise to provide each specified service to each customer. We bear the primary risk of loss in the event of cargo claims by our customers. We also have complete control and discretion in establishing the price for each specified service. Accordingly, all such revenue billed to customers is classified as operating revenue and all corresponding payments to carriers for transportation services we arrange in connection with brokerage and intermodal activities and to independent contractor providers of revenue equipment are classified as purchased transportation expense within our consolidated condensed statements of operations. The following table sets forth for the periods indicated our operating revenue and operating income by segment. We do not not Three Months Ended March 31, (In thousands) 2021 2020 Operating revenue: Truckload revenue, net of fuel surcharge revenue $ 83,919 $ 83,857 Truckload fuel surcharge revenue 10,996 11,275 Total Truckload revenue 94,915 95,132 Dedicated revenue, net of fuel surcharge revenue 66,902 64,159 Dedicated fuel surcharge revenue 11,335 10,878 Total Dedicated revenue 78,237 75,037 Intermodal revenue, net of fuel surcharge revenue 19,446 20,594 Intermodal fuel surcharge revenue 2,558 3,086 Total Intermodal revenue 22,004 23,680 Brokerage revenue 27,890 24,797 Total operating revenue $ 223,046 $ 218,646 Operating income: Truckload $ 11,415 $ 6,785 Dedicated 8,936 8,533 Intermodal 1,461 1,306 Brokerage 2,186 1,408 Total operating income $ 23,998 $ 18,032 Truckload segment depreciation expense was $13.2 million and $13.8 million, Dedicated segment depreciation expense was $10.7 million and $9.9 million, Intermodal segment depreciation expense was $1.5 million and $1.4 million, and Brokerage segment depreciation expense was $282,000 and $362,000 in the three March 31, 2021 2020,

Note 13 - Use of Estimates

Note 13 - Use of Estimates	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 13 We must make estimates and assumptions to prepare the consolidated condensed financial statements in conformity with U.S. generally accepted accounting principles. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities in the consolidated condensed financial statements and the reported amount of revenue and expenses during the reporting period. These estimates are primarily related to insurance and claims accruals and depreciation. Ultimate results could differ from these estimates.

Note 2 - Earnings per Common _2

Note 2 - Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, (In thousands, except per share amounts) 2021 2020 Numerator: Net income $ 18,006 $ 13,718 Denominator: Basic earnings per common share - weighted-average shares 82,758 82,214 Effect of dilutive stock options 601 650 Diluted earnings per common share - weighted-average shares and assumed conversions 83,359 82,864 Basic earnings per common share $ 0.22 $ 0.17 Diluted earnings per common share $ 0.22 $ 0.17

Note 12 - Revenue and Busines_2

Note 12 - Revenue and Business Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, (In thousands) 2021 2020 Operating revenue: Truckload revenue, net of fuel surcharge revenue $ 83,919 $ 83,857 Truckload fuel surcharge revenue 10,996 11,275 Total Truckload revenue 94,915 95,132 Dedicated revenue, net of fuel surcharge revenue 66,902 64,159 Dedicated fuel surcharge revenue 11,335 10,878 Total Dedicated revenue 78,237 75,037 Intermodal revenue, net of fuel surcharge revenue 19,446 20,594 Intermodal fuel surcharge revenue 2,558 3,086 Total Intermodal revenue 22,004 23,680 Brokerage revenue 27,890 24,797 Total operating revenue $ 223,046 $ 218,646 Operating income: Truckload $ 11,415 $ 6,785 Dedicated 8,936 8,533 Intermodal 1,461 1,306 Brokerage 2,186 1,408 Total operating income $ 23,998 $ 18,032

Note 2 - Earnings per Common _3

Note 2 - Earnings per Common Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	193,750	294,450
Unvested Performance Unit Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	40,263	77,066

Note 2 - Earnings per Common _4

Note 2 - Earnings per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Numerator:
Net income	$ 18,006	$ 13,718	$ 55,782
Denominator:
Basic earnings per common share - weighted-average shares (in shares)	82,758	82,214
Effect of dilutive stock options (in shares)	601	650
Diluted earnings per common share - weighted-average shares and assumed conversions (in shares)	83,359	82,864
Basic earnings per common share (in dollars per share)	$ 0.22	$ 0.17
Diluted earnings per common share (in dollars per share)	$ 0.22	$ 0.17

Note 3 - Stock Split (Details T

Note 3 - Stock Split (Details Textual)	Aug. 13, 2020$ / shares	Mar. 31, 2021$ / shares	Dec. 31, 2020$ / shares
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01	$ 0.01
Stock Split To [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3
Stock Split from [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2
Stock Split [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01
Stockholders' Equity Note, Stock Split, Dividend Settlement, Percent	50.00%

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Nov. 30, 2020	Aug. 31, 2018
Line of Credit Facility, Maximum Borrowing Capacity				$ 30,000
Long-term Line of Credit, Total	$ 0	$ 0
Letters of Credit Outstanding, Amount	17,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 13,000
Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit			25.00%
Line of Credit Facility, Waiver to Pay Dividends, Maximum			$ 60,000
Credit Facility [Member]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	0.78%

Note 5 - Related Party Transa_2

Note 5 - Related Party Transactions (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Purchase of Fuel, Tires and Related Services [Member]
Related Party Transaction, Amounts of Transaction	$ 76,000	$ 90,000
Tire Purchases [Member]
Related Party Transaction, Amounts of Transaction	$ 396,000	$ 917,000

Note 6 - Share Repurchase Pro_2

Note 6 - Share Repurchase Program (Details Textual)	Aug. 13, 2020	Mar. 31, 2021USD ($)shares	Mar. 31, 2020USD ($)shares	Dec. 31, 2020shares	Aug. 31, 2020shares	Aug. 31, 2019USD ($)shares
Stock Repurchase Program, Authorized Amount | $						$ 34,000,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | shares					2,700,000	1,800,000
Stock Repurchased and Retired During Period, Shares (in shares) | shares		0	53,064	0
Stock Repurchased and Retired During Period, Value | $			$ 597,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 33,400,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | shares		2,600,000
Stock Split To [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3
Stock Split from [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2

Note 7 - Dividends (Details Tex

Note 7 - Dividends (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Nov. 30, 2020
Payments of Ordinary Dividends, Common Stock	$ 3,311	$ 2,193
Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit			25.00%
Line of Credit Facility, Waiver to Pay Dividends, Maximum			$ 60,000
Paid Quarterly [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.04	$ 0.027

Note 8 - Accounting for Share_2

Note 8 - Accounting for Share-based Payment Arrangement Compensation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock or Unit Option Plan Expense	$ 336,000	$ 246,000

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual)	Mar. 31, 2021USD ($)
Lessee, Operating Lease, Liability, to be Paid, Total	$ 826,000
Capital Addition Purchase Commitments [Member] | Revenue Equipment [Member]
Purchase Obligation, to be Paid, Remainder of Fiscal Year	$ 89,300,000

Note 12 - Revenue and Busines_3

Note 12 - Revenue and Business Segments (Details Textual)	3 Months Ended		15 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Number of Operating Segments	5
Number of Reportable Segments	4
Customer Contract Term (Year)	1 year
Capitalized Contract Cost, Impairment Loss	$ 0		$ 0
Prepaid Expenses and Other Current Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Total	2,400,000		$ 2,400,000	$ 1,500,000
Dedicated [Member]
Depreciation, Depletion and Amortization, Total	$ 10,700,000	$ 9,900,000
Dedicated [Member] | Minimum [Member]
Customer Contract Term (Year)	3 years
Dedicated [Member] | Maximum [Member]
Customer Contract Term (Year)	5 years
Truckload [Member]
Depreciation, Depletion and Amortization, Total	$ 13,200,000	13,800,000
Intermodal [Member]
Depreciation, Depletion and Amortization, Total	1,500,000	1,400,000
Brokerage [Member]
Depreciation, Depletion and Amortization, Total	$ 282,000	$ 362,000

Note 12 - Revenue and Busines_4

Note 12 - Revenue and Business Segments - Operating Revenue and Operating Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating revenue	$ 223,046	$ 218,646
Operating Income	23,998	18,032
Truckload [Member]
Operating revenue	94,915	95,132
Operating Income	11,415	6,785
Truckload [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	83,919	83,857
Truckload [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	10,996	11,275
Dedicated [Member]
Operating revenue	78,237	75,037
Operating Income	8,936	8,533
Dedicated [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	66,902	64,159
Dedicated [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	11,335	10,878
Intermodal [Member]
Operating revenue	22,004	23,680
Operating Income	1,461	1,306
Intermodal [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	19,446	20,594
Intermodal [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	2,558	3,086
Brokerage [Member]
Operating revenue	27,890	24,797
Operating Income	$ 2,186	$ 1,408