2 months ago
29
Todd Maiden
Fri, July 24, 2026 astatine 10:05 AM CDT 3 min read
Refrigerated bearer Marten Transport noted a important firming successful truckload fundamentals erstwhile it reported second-quarter results Thursday aft the marketplace closed. A overmuch tighter capableness backdrop is allowing the institution to amended its freight enactment and rise rates.
"The freight marketplace has sharply tightened successful caller months and is present breaking retired from the longest freight marketplace recession connected record," stated CEO Randy Marten successful a quality release. He said the regulatory crackdown is "contracting meaningful levels of freight capableness by removing noncompliant and unqualified drivers."
(The Mondovi, Wisconsin-based institution does not big a quarterly call.)
Revenue from Marten's (NASDAQ: MRTN) non-dedicated TL fleet accrued 9% y/y to $116 million, but was level astatine $93 cardinal excluding substance surcharges. An 8% diminution successful mean tractors successful work was offset by a 9% summation successful gross per tractor.
Like astir ample carriers, Marten has been managing motortruck counts to amended plus utilization. Revenue per loaded mile accrued 6% y/y to $2.81. The portion booked a 97.4% operating ratio (ex-fuel), which was 10 ground points amended y/y.
The company's smaller dedicated conception saw a 14% y/y diminution successful gross (ex-fuel) arsenic a 17% driblet successful motortruck number was lone partially offset by a 3% summation successful gross per tractor. Revenue per loaded mile was down 5% y/y to $2.36. The portion posted a 95.4% OR (ex-fuel), 430 bps worse y/y.
Brokerage gross was level y/y astatine $40 million, arsenic a 2% summation successful loads was offset by a 2% diminution successful gross per load. The segment's OR worsened 160 bps to 94.8%, but really compares favorably to different akin brokerages. Third-party capableness bargain rates (purchased transportation) are overmuch higher than in-place merchantability rates connected contractual concern fixed the accelerated run-up successful the broader spot market.
Consolidated gross of $224 cardinal was 3% little y/y and $4 cardinal airy of the statement estimate. (Revenue excluding substance surcharges was 9% little y/y.) The 2025 merchantability of its intermodal portion to Hub Group (NASDAQ: HUBG) was an $11.7-million gross headwind during the quarter.
Marten reported net per stock of 7 cents (net income of $5.3 million), which was 2 cents little twelvemonth implicit twelvemonth and a penny airy of consensus. Earnings per stock faced a 3-cent headwind owed to a $3.5 cardinal y/y driblet successful gains connected instrumentality sales.
Cash travel from operations was $61 cardinal for the archetypal fractional of 2026, a 12% y/y decline. The institution maintained a debt-free equilibrium expanse successful the quarter.
English (CA) · 
English (US) · 
Spanish (MX) ·