Marten Transport reported a significant firming in refrigerated truckload fundamentals during its second quarter, with CEO Randy Marten stating the freight market is now breaking out from the longest freight market recession on record. Revenue from the company's non-dedicated truckload fleet increased 9% year over year to $116 million, though it was flat at $93 million excluding fuel surcharges, as an 8% decline in average tractors was offset by a 9% increase in revenue per tractor. Revenue per loaded mile rose 6% to $2.81, and the unit's operating ratio excluding fuel improved 10 basis points to 97.4%. The smaller dedicated segment saw a 14% decline in revenue excluding fuel, with a 17% drop in truck count partially offset by a 3% increase in revenue per tractor, while brokerage revenue was flat at $40 million. Consolidated revenue of $224 million was 3% lower year over year and $4 million below consensus, and earnings per share of 7 cents missed estimates by a penny, partly due to a $3.5 million decline in gains on equipment sales. The company maintained a debt-free balance sheet and generated $61 million in cash flow from operations in the first half of 2026, down 12% year over year.
Marten Transport LtdCEO reports firming refrigerated freight market and 9% revenue increase in non-dedicated fleet, indicating improving demand.
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