Marten Transport Announces Second Quarter Results
Marten Transport (NASDAQ:MRTN) reported Q2 2025 financial results showing a decline in performance. The company posted net income of $7.2 million ($0.09 per diluted share), down from $7.9 million ($0.10 per share) in Q2 2024. Operating revenue decreased to $229.9 million from $246.2 million year-over-year.
Key metrics include operating income of $9.7 million (vs. $10.0 million in Q2 2024) and operating expenses at 95.8% of revenue. The company's dedicated and brokerage operations showed resilience, though earnings were pressured by the freight market recession's oversupply and weak demand, along with inflationary costs and freight rate reductions.
Management remains focused on minimizing market impacts while pursuing profitable organic growth opportunities, particularly those expected from industry capacity exits due to increased English Language Proficiency and B-1 visa regulation enforcement.
Marten Transport (NASDAQ:MRTN) ha riportato i risultati finanziari del secondo trimestre 2025 evidenziando un calo delle performance. La società ha registrato un utile netto di 7,2 milioni di dollari (0,09 dollari per azione diluita), in diminuzione rispetto ai 7,9 milioni di dollari (0,10 dollari per azione) del secondo trimestre 2024. I ricavi operativi sono scesi a 229,9 milioni di dollari dai 246,2 milioni di dollari anno su anno.
Le metriche chiave includono un reddito operativo di 9,7 milioni di dollari (contro i 10,0 milioni del secondo trimestre 2024) e spese operative pari al 95,8% dei ricavi. Le operazioni dedicate e di intermediazione dell'azienda hanno mostrato resilienza, sebbene i guadagni siano stati influenzati dalla recessione del mercato del trasporto merci, caratterizzata da un eccesso di offerta e debole domanda, oltre che da costi inflazionistici e riduzioni delle tariffe di trasporto.
La direzione rimane concentrata nel minimizzare gli impatti di mercato perseguendo opportunità di crescita organica redditizie, in particolare quelle attese dall'uscita di capacità nel settore dovuta all'aumento del livello di competenza nella lingua inglese e all'applicazione delle normative sui visti B-1.
Marten Transport (NASDAQ:MRTN) presentó los resultados financieros del segundo trimestre de 2025 mostrando un descenso en su desempeño. La compañía reportó un ingreso neto de 7,2 millones de dólares (0,09 dólares por acción diluida), frente a 7,9 millones de dólares (0,10 dólares por acción) en el segundo trimestre de 2024. Los ingresos operativos disminuyeron a 229,9 millones de dólares desde 246,2 millones año con año.
Las métricas clave incluyen un ingreso operativo de 9,7 millones de dólares (vs. 10,0 millones en el segundo trimestre de 2024) y gastos operativos que representan el 95,8% de los ingresos. Las operaciones dedicadas y de corretaje de la empresa mostraron resiliencia, aunque las ganancias se vieron presionadas por la recesión del mercado de carga debido al exceso de oferta y la débil demanda, junto con costos inflacionarios y reducciones en las tarifas de flete.
La dirección sigue enfocada en minimizar los impactos del mercado mientras busca oportunidades de crecimiento orgánico rentable, especialmente aquellas esperadas por las salidas de capacidad en la industria derivadas del aumento en la competencia en inglés y la aplicación de regulaciones para visas B-1.
Marten Transport (NASDAQ:MRTN)는 2025년 2분기 재무 실적을 발표하며 실적 감소를 보였습니다. 회사는 순이익 720만 달러(희석 주당 0.09달러)를 기록했으며, 이는 2024년 2분기의 790만 달러(주당 0.10달러)에서 감소한 수치입니다. 영업 수익은 전년 동기 대비 2억 2,990만 달러로 줄었습니다.
주요 지표로는 영업 이익 970만 달러(2024년 2분기 1,000만 달러 대비)와 수익 대비 95.8%의 영업 비용이 포함됩니다. 회사의 전용 및 중개 사업은 견조한 모습을 보였으나, 화물 시장 경기 침체에 따른 공급 과잉과 약한 수요, 인플레이션 비용, 운임 인하로 인해 수익성이 압박받았습니다.
경영진은 시장 영향 최소화에 집중하면서 산업 내 용량 감소에 따른 유기적 수익성 성장 기회를 모색하고 있으며, 이는 영어 능력 향상과 B-1 비자 규제 강화에 따른 결과로 기대되고 있습니다.
Marten Transport (NASDAQ:MRTN) a publié ses résultats financiers du deuxième trimestre 2025 montrant un déclin de ses performances. La société a enregistré un bénéfice net de 7,2 millions de dollars (0,09 dollar par action diluée), en baisse par rapport à 7,9 millions de dollars (0,10 dollar par action) au deuxième trimestre 2024. Le chiffre d'affaires opérationnel a diminué à 229,9 millions de dollars contre 246,2 millions d'une année sur l'autre.
Les indicateurs clés comprennent un résultat opérationnel de 9,7 millions de dollars (contre 10,0 millions au T2 2024) et des charges opérationnelles représentant 95,8 % du chiffre d'affaires. Les opérations dédiées et de courtage de l'entreprise ont montré une certaine résilience, bien que les bénéfices aient été impactés par la récession du marché du fret due à une offre excédentaire et une demande faible, ainsi que par des coûts inflationnistes et des réductions des tarifs de fret.
La direction reste concentrée sur la minimisation des impacts du marché tout en poursuivant des opportunités de croissance organique rentable, notamment celles attendues suite aux sorties de capacité dans le secteur dues à l'amélioration de la maîtrise de l'anglais et à l'application des réglementations sur les visas B-1.
Marten Transport (NASDAQ:MRTN) meldete die Finanzergebnisse für das zweite Quartal 2025 mit einem Rückgang der Leistung. Das Unternehmen verzeichnete einen Nettoertrag von 7,2 Millionen US-Dollar (0,09 US-Dollar je verwässerter Aktie), verglichen mit 7,9 Millionen US-Dollar (0,10 US-Dollar je Aktie) im zweiten Quartal 2024. Der Betriebsumsatz sank im Jahresvergleich auf 229,9 Millionen US-Dollar von 246,2 Millionen US-Dollar.
Wichtige Kennzahlen umfassen einen Betriebsgewinn von 9,7 Millionen US-Dollar (gegenüber 10,0 Millionen US-Dollar im zweiten Quartal 2024) und Betriebskosten von 95,8 % des Umsatzes. Die dedizierten und Vermittlungsaktivitäten des Unternehmens zeigten Widerstandsfähigkeit, obwohl die Gewinne durch das Überangebot und die schwache Nachfrage auf dem Frachtmarkt sowie durch inflationsbedingte Kosten und Frachtratenkürzungen unter Druck standen.
Das Management bleibt darauf fokussiert, Markteinflüsse zu minimieren und gleichzeitig rentable organische Wachstumschancen zu verfolgen, insbesondere solche, die durch Kapazitätsabgänge in der Branche aufgrund verbesserter Englischkenntnisse und der Durchsetzung von B-1-Visa-Vorschriften erwartet werden.
- Brokerage revenue increased 6.6% to $39.9 million in Q2 2025
- Truckload operating income improved 110.2% to $2.3 million
- Operating ratio improved slightly to 95.8% from 95.9% year-over-year
- Strong cash position with $35.1 million in cash and cash equivalents
- Net income decreased 8.9% to $7.2 million in Q2 2025
- Operating revenue declined 6.6% to $229.9 million
- Dedicated revenue dropped 11.6% to $71.9 million
- Intermodal revenue fell 22.3% to $11.7 million
- Total fleet size reduced to 2,928 tractors from 3,126 year-over-year
Insights
Marten Transport's Q2 earnings show continued pressure from freight recession despite some operational bright spots.
Marten Transport's Q2 2025 results reveal the ongoing challenges in the freight transportation sector, with net income declining to $7.2 million ($0.09 per share) from $7.9 million ($0.10 per share) year-over-year. Revenue contracted by 6.6% to $229.9 million, reflecting the persistent freight market recession characterized by oversupply and weak demand.
Looking deeper at segment performance, there's an interesting dichotomy. The Truckload segment showed remarkable resilience with a 110.2% increase in operating income despite a 5.4% revenue decline. This suggests effective cost management and operational efficiency improvements in their core business. Meanwhile, the Dedicated segment saw operating income decrease by 18.4%, Intermodal continued to operate at a loss, and Brokerage income declined slightly.
The six-month results tell a more concerning story with a 34.3% drop in net income compared to H1 2024. Operating ratio (expenses as percentage of revenue) deteriorated from 94.8% to 96.1% excluding fuel surcharges, indicating margin compression from inflationary pressures.
From a balance sheet perspective, Marten has maintained financial stability with cash more than doubling to $35.1 million from $17.3 million at year-end 2024. This liquidity provides a cushion against continued market challenges and positions them for potential opportunistic investments as competitors struggle.
The company's strategy focuses on its multifaceted business model, particularly leveraging dedicated and brokerage operations which have shown relative strength. Management anticipates potential relief from capacity exits driven by increased regulatory enforcement, which could gradually improve the supply-demand balance in the coming quarters.
MONDOVI, Wis., July 16, 2025 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported net income of
Operating revenue was
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Operating expenses as a percentage of operating revenue were
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Executive Chairman Randolph L. Marten stated, “Our unique multifaceted business model’s value continued to be highlighted by the operating results of our dedicated and brokerage operations for the first six months of this year and throughout last year. Our earnings have continued to be heavily pressured by the considerable duration and depth of the freight market recession’s oversupply and weak demand - and the cumulative impact of inflationary operating costs, freight rate reductions and freight network disruptions.”
“We remain focused on minimizing the freight market’s impact - and the impact of the U.S. and global economies with the current trade policy volatility - while investing in and positioning our operations to capitalize on profitable organic growth opportunities. We expect such growth opportunities to be positively impacted by anticipated additional industry capacity exits relating to increased enforcement of the English Language Proficiency and B-1 visa regulations.”
Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of time and temperature-sensitive and dry truck-based transportation and distribution capabilities across Marten’s six distinct business platforms – Temperature-Sensitive and Dry Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food, beverages and other consumer packaged goods that require a temperature-controlled or insulated environment. The Company offers service in the United States, Mexico and Canada, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of Marten’s prospects for future growth, including the impact of the freight market and U.S. and global economies with the current trade policy volatility along with the impact of additional industry capacity exits relating to increased enforcement of the English Language Proficiency and B-1 visa regulations, and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACTS: Tim Kohl, Chief Executive Officer, Doug Petit, President, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.
| MARTEN TRANSPORT, LTD. CONSOLIDATED CONDENSED BALANCE SHEETS | ||||||||
| June 30, | December 31, | |||||||
| (In thousands, except share information) | 2025 | 2024 | ||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 35,052 | $ | 17,267 | ||||
| Receivables: | ||||||||
| Trade, net | 91,432 | 89,992 | ||||||
| Other | 7,387 | 5,364 | ||||||
| Prepaid expenses and other | 21,942 | 25,888 | ||||||
| Total current assets | 155,813 | 138,511 | ||||||
| Property and equipment: | ||||||||
| Revenue equipment, buildings and land, office equipment and other | 1,207,399 | 1,198,737 | ||||||
| Accumulated depreciation | (373,131 | ) | (370,124 | ) | ||||
| Net property and equipment | 834,268 | 828,613 | ||||||
| Other noncurrent assets | 1,735 | 1,633 | ||||||
| Total assets | $ | 991,816 | $ | 968,757 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 44,894 | $ | 25,781 | ||||
| Insurance and claims accruals | 43,817 | 44,246 | ||||||
| Accrued and other current liabilities | 27,974 | 23,492 | ||||||
| Total current liabilities | 116,685 | 93,519 | ||||||
| Deferred income taxes | 104,098 | 107,034 | ||||||
| Noncurrent operating lease liabilities | 317 | 282 | ||||||
| Total liabilities | 221,100 | 200,835 | ||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding | - | - | ||||||
| Common stock, $.01 par value per share; 192,000,000 shares authorized; 81,520,424 shares at June 30, 2025, and 81,463,938 shares at December 31, 2024, issued and outstanding | 815 | 815 | ||||||
| Additional paid-in capital | 53,994 | 52,941 | ||||||
| Retained earnings | 715,907 | 714,166 | ||||||
| Total stockholders’ equity | 770,716 | 767,922 | ||||||
| Total liabilities and stockholders’ equity | $ | 991,816 | $ | 968,757 | ||||
| MARTEN TRANSPORT, LTD. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) | ||||||||||||||||
| Three Months | Six Months | |||||||||||||||
| Ended June 30, | Ended June 30, | |||||||||||||||
| (In thousands, except per share information) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Operating revenue | $ | 229,922 | $ | 246,238 | $ | 453,074 | $ | 495,910 | ||||||||
| Operating expenses (income): | ||||||||||||||||
| Salaries, wages and benefits | 78,570 | 86,519 | 157,370 | 175,281 | ||||||||||||
| Purchased transportation | 43,123 | 43,235 | 80,779 | 85,049 | ||||||||||||
| Fuel and fuel taxes | 32,591 | 38,809 | 65,708 | 78,370 | ||||||||||||
| Supplies and maintenance | 15,606 | 16,472 | 31,119 | 32,542 | ||||||||||||
| Depreciation | 27,307 | 28,206 | 54,777 | 56,733 | ||||||||||||
| Operating taxes and licenses | 2,451 | 2,539 | 4,868 | 5,114 | ||||||||||||
| Insurance and claims | 15,852 | 12,559 | 29,229 | 24,216 | ||||||||||||
| Communications and utilities | 2,164 | 2,297 | 4,443 | 4,668 | ||||||||||||
| Gain on disposition of revenue equipment | (5,182 | ) | (2,532 | ) | (6,847 | ) | (3,703 | ) | ||||||||
| Other | 7,706 | 8,160 | 16,035 | 15,416 | ||||||||||||
| Total operating expenses | 220,188 | 236,264 | 437,481 | 473,686 | ||||||||||||
| Operating income | 9,734 | 9,974 | 15,593 | 22,224 | ||||||||||||
| Other | (436 | ) | (1,014 | ) | (785 | ) | (1,810 | ) | ||||||||
| Income before income taxes | 10,170 | 10,988 | 16,378 | 24,034 | ||||||||||||
| Income taxes expense | 2,984 | 3,099 | 4,857 | 6,499 | ||||||||||||
| Net income | $ | 7,186 | $ | 7,889 | $ | 11,521 | $ | 17,535 | ||||||||
| Basic earnings per common share | $ | 0.09 | $ | 0.10 | $ | 0.14 | $ | 0.22 | ||||||||
| Diluted earnings per common share | $ | 0.09 | $ | 0.10 | $ | 0.14 | $ | 0.22 | ||||||||
| Dividends declared per common share | $ | 0.06 | $ | 0.06 | $ | 0.12 | $ | 0.12 | ||||||||
| MARTEN TRANSPORT, LTD. SEGMENT INFORMATION (Unaudited) | ||||||||||||||||
| Dollar | Percentage | |||||||||||||||
| Change | Change | |||||||||||||||
| Three Months | Three Months | Three Months | ||||||||||||||
| Ended | Ended | Ended | ||||||||||||||
| June 30, | June 30, | June 30, | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 vs. 2024 | 2025 vs. 2024 | ||||||||||||
| Operating revenue: | ||||||||||||||||
| Truckload revenue, net of fuel surcharge revenue | $ | 92,484 | $ | 96,046 | $ | (3,562 | ) | (3.7 | )% | |||||||
| Truckload fuel surcharge revenue | 14,002 | 16,477 | (2,475 | ) | (15.0 | ) | ||||||||||
| Total Truckload revenue | 106,486 | 112,523 | (6,037 | ) | (5.4 | ) | ||||||||||
| Dedicated revenue, net of fuel surcharge revenue | 61,338 | 67,444 | (6,106 | ) | (9.1 | ) | ||||||||||
| Dedicated fuel surcharge revenue | 10,536 | 13,822 | (3,286 | ) | (23.8 | ) | ||||||||||
| Total Dedicated revenue | 71,874 | 81,266 | (9,392 | ) | (11.6 | ) | ||||||||||
| Intermodal revenue, net of fuel surcharge revenue | 10,093 | 12,660 | (2,567 | ) | (20.3 | ) | ||||||||||
| Intermodal fuel surcharge revenue | 1,610 | 2,404 | (794 | ) | (33.0 | ) | ||||||||||
| Total Intermodal revenue | 11,703 | 15,064 | (3,361 | ) | (22.3 | ) | ||||||||||
| Brokerage revenue | 39,859 | 37,385 | 2,474 | 6.6 | ||||||||||||
| Total operating revenue | $ | 229,922 | $ | 246,238 | $ | (16,316 | ) | (6.6 | )% | |||||||
| Operating income/(loss): | ||||||||||||||||
| Truckload | $ | 2,344 | $ | 1,115 | $ | 1,229 | 110.2 | % | ||||||||
| Dedicated | 5,429 | 6,650 | (1,221 | ) | (18.4 | ) | ||||||||||
| Intermodal | (735 | ) | (684 | ) | (51 | ) | (7.5 | ) | ||||||||
| Brokerage | 2,696 | 2,893 | (197 | ) | (6.8 | ) | ||||||||||
| Total operating income | $ | 9,734 | $ | 9,974 | $ | (240 | ) | (2.4 | )% | |||||||
| Operating ratio: | ||||||||||||||||
| Truckload | 97.8 | % | 99.0 | % | ||||||||||||
| Dedicated | 92.4 | 91.8 | ||||||||||||||
| Intermodal | 106.3 | 104.5 | ||||||||||||||
| Brokerage | 93.2 | 92.3 | ||||||||||||||
| Consolidated operating ratio | 95.8 | % | 95.9 | % | ||||||||||||
| Operating ratio, net of fuel surcharges: | ||||||||||||||||
| Truckload | 97.5 | % | 98.8 | % | ||||||||||||
| Dedicated | 91.1 | 90.1 | ||||||||||||||
| Intermodal | 107.3 | 105.4 | ||||||||||||||
| Brokerage | 93.2 | 92.3 | ||||||||||||||
| Consolidated operating ratio, net of fuel surcharges | 95.2 | % | 95.3 | % | ||||||||||||
| MARTEN TRANSPORT, LTD. SEGMENT INFORMATION (Unaudited) | ||||||||||||||||
| Dollar | Percentage | |||||||||||||||
| Change | Change | |||||||||||||||
| Six Months | Six Months | Six Months | ||||||||||||||
| Ended | Ended | Ended | ||||||||||||||
| June 30, | June 30, | June 30, | ||||||||||||||
| (Dollars in thousands) | 2025 | 2024 | 2025 vs. 2024 | 2025 vs. 2024 | ||||||||||||
| Operating revenue: | ||||||||||||||||
| Truckload revenue, net of fuel surcharge revenue | $ | 182,590 | $ | 191,068 | $ | (8,478 | ) | (4.4 | )% | |||||||
| Truckload fuel surcharge revenue | 28,287 | 33,006 | (4,719 | ) | (14.3 | ) | ||||||||||
| Total Truckload revenue | 210,877 | 224,074 | (13,197 | ) | (5.9 | ) | ||||||||||
| Dedicated revenue, net of fuel surcharge revenue | 123,743 | 139,182 | (15,439 | ) | (11.1 | ) | ||||||||||
| Dedicated fuel surcharge revenue | 21,756 | 28,544 | (6,788 | ) | (23.8 | ) | ||||||||||
| Total Dedicated revenue | 145,499 | 167,726 | (22,227 | ) | (13.3 | ) | ||||||||||
| Intermodal revenue, net of fuel surcharge revenue | 20,361 | 25,941 | (5,580 | ) | (21.5 | ) | ||||||||||
| Intermodal fuel surcharge revenue | 3,459 | 5,095 | (1,636 | ) | (32.1 | ) | ||||||||||
| Total Intermodal revenue | 23,820 | 31,036 | (7,216 | ) | (23.3 | ) | ||||||||||
| Brokerage revenue | 72,878 | 73,074 | (196 | ) | (0.3 | ) | ||||||||||
| Total operating revenue | $ | 453,074 | $ | 495,910 | $ | (42,836 | ) | (8.6 | )% | |||||||
| Operating income/(loss): | ||||||||||||||||
| Truckload | $ | 2,044 | $ | 1,604 | $ | 440 | 27.4 | % | ||||||||
| Dedicated | 10,283 | 15,908 | (5,625 | ) | (35.4 | ) | ||||||||||
| Intermodal | (1,590 | ) | (878 | ) | (712 | ) | (81.1 | ) | ||||||||
| Brokerage | 4,856 | 5,590 | (734 | ) | (13.1 | ) | ||||||||||
| Total operating income | $ | 15,593 | $ | 22,224 | $ | (6,631 | ) | (29.8 | )% | |||||||
| Operating ratio: | ||||||||||||||||
| Truckload | 99.0 | % | 99.3 | % | ||||||||||||
| Dedicated | 92.9 | 90.5 | ||||||||||||||
| Intermodal | 106.7 | 102.8 | ||||||||||||||
| Brokerage | 93.3 | 92.4 | ||||||||||||||
| Consolidated operating ratio | 96.6 | % | 95.5 | % | ||||||||||||
| Operating ratio, net of fuel surcharges: | ||||||||||||||||
| Truckload | 98.9 | % | 99.2 | % | ||||||||||||
| Dedicated | 91.7 | 88.6 | ||||||||||||||
| Intermodal | 107.8 | 103.4 | ||||||||||||||
| Brokerage | 93.3 | 92.4 | ||||||||||||||
| Consolidated operating ratio, net of fuel surcharges | 96.1 | % | 94.8 | % | ||||||||||||
| MARTEN TRANSPORT, LTD. OPERATING STATISTICS (Unaudited) | ||||||||||||||||
| Three Months | Six Months | |||||||||||||||
| Ended June 30, | Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Truckload Segment: | ||||||||||||||||
| Revenue (in thousands) | $ | 106,486 | $ | 112,523 | $ | 210,877 | $ | 224,074 | ||||||||
| Average revenue, net of fuel surcharges, per tractor per week(1) | $ | 4,209 | $ | 4,093 | $ | 4,203 | $ | 4,044 | ||||||||
| Average tractors(1) | 1,690 | 1,805 | 1,680 | 1,817 | ||||||||||||
| Average miles per trip | 524 | 528 | 531 | 533 | ||||||||||||
| Non-revenue miles percentage(2) | 11.0 | % | 11.6 | % | 11.1 | % | 12.1 | % | ||||||||
| Total miles (in thousands) | 39,221 | 40,847 | 77,494 | 80,550 | ||||||||||||
| Dedicated Segment: | ||||||||||||||||
| Revenue (in thousands) | $ | 71,874 | $ | 81,266 | $ | 145,499 | $ | 167,726 | ||||||||
| Average revenue, net of fuel surcharges, per tractor per week(1) | $ | 3,807 | $ | 3,754 | $ | 3,827 | $ | 3,768 | ||||||||
| Average tractors(1) | 1,239 | 1,382 | 1,251 | 1,421 | ||||||||||||
| Average miles per trip | 301 | 323 | 305 | 326 | ||||||||||||
| Non-revenue miles percentage(2) | 1.3 | % | 1.1 | % | 1.4 | % | 1.1 | % | ||||||||
| Total miles (in thousands) | 25,132 | 28,231 | 50,368 | 57,311 | ||||||||||||
| Intermodal Segment: | ||||||||||||||||
| Revenue (in thousands) | $ | 11,703 | $ | 15,064 | $ | 23,820 | $ | 31,036 | ||||||||
| Loads | 3,555 | 4,464 | 7,212 | 9,053 | ||||||||||||
| Average tractors | 77 | 121 | 77 | 123 | ||||||||||||
| Brokerage Segment: | ||||||||||||||||
| Revenue (in thousands) | $ | 39,859 | $ | 37,385 | $ | 72,878 | $ | 73,074 | ||||||||
| Loads | 24,094 | 22,700 | 44,510 | 42,761 | ||||||||||||
| At June 30, 2025 and June 30, 2024: | ||||||||||||||||
| Total tractors(1) | 2,928 | 3,126 | ||||||||||||||
| Average age of company tractors (in years) | 2.1 | 1.8 | ||||||||||||||
| Total trailers | 5,164 | 5,539 | ||||||||||||||
| Average age of company trailers (in years) | 5.0 | 5.0 | ||||||||||||||
| Ratio of trailers to tractors(1) | 1.8 | 1.8 | ||||||||||||||
| Total refrigerated containers | 786 | 787 | ||||||||||||||
| Three Months | Six Months | |||||||||||||||
| Ended June 30, | Ended June 30, | |||||||||||||||
| (In thousands) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net cash provided by operating activities | $ | 33,153 | $ | 35,821 | $ | 69,368 | $ | 81,543 | ||||||||
| Net cash used for investing activities | (33,115 | ) | (27,776 | ) | (41,528 | ) | (48,025 | ) | ||||||||
| Net cash used for financing activities | (4,891 | ) | (4,576 | ) | (10,055 | ) | (9,532 | ) | ||||||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic | 81,510 | 81,381 | 81,502 | 81,365 | ||||||||||||
| Diluted | 81,517 | 81,446 | 81,512 | 81,442 | ||||||||||||
| (1 ) | Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 80 and 90 tractors as of June 30, 2025 and 2024, respectively. | |
| (2) | Represents the percentage of miles for which the company is not compensated. | |
FAQ
What was Marten Transport's (MRTN) earnings per share in Q2 2025?
How much revenue did MRTN generate in Q2 2025?
What was Marten Transport's operating income for Q2 2025?
How did MRTN's different segments perform in Q2 2025?
What factors affected Marten Transport's Q2 2025 performance?
