MRTN earnings analysis
What we found in MRTN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Marten Transport reported a decline in total revenue to $203.5 million for Q1 2026, down 8.8% from $223.2 million in Q1 2025, coupled with a significant drop in diluted EPS to $0.02 from $0.05 a year prior. The company faced challenges including decreased revenue in its Dedicated segment and a 72.8% fall in operating income, narrowing its profitability margins. Management highlighted ongoing market pressures, especially in fuel costs and competition.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Total revenue decreased by 8.8% to $203.5 million from $223.2 million year-over-year.
- Operating Income Drop
- Operating income fell 72.8% to $1.6 million, down from $5.9 million year-over-year.
- EPS Consistency
- EPS remained stable at $0.02, matching estimates but reflecting a decrease from $0.05 in the prior year.
- Cash Flow Generation
- Net cash provided by operating activities amounted to $33.0 million in Q1 2026.
- Cash Holdings Increase
- Cash and cash equivalents increased to $74.8 million amidst ongoing capital expenditures.
- Dedicated Segment Revenue Decline
- Dedicated segment revenue dropped 14.8% to $63.5 million, impacting overall profitability.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Revenue Contraction
- Total operating revenue decreased by $19.6 million, or 8.8%, compared to Q1 2025.
- Profitability Compression
- Operating ratio worsened to 99.2% from 97.4%, signaling increased costs relative to revenue.
- Segment Weakness
- Dedicated segment saw a 14.8% decline in revenue, challenging future growth prospects.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.02
- Segment
- Truckload: $105.4M
- Segment
- Dedicated: $63.5M
- Segment
- Brokerage: $34.7M
- Segment
- Intermodal: $0.0M
What they said about what is next.
No numeric forward guidance provided; management cited market risks in their discussion.
The filing reads worse than the one before it.
What came before.
- 10-K · February 27, 2026
- Marten Transport reported $883.7 million in operating revenue for 2025 while continuing to transition its business (Intermodal sold effective September 30, 2025) toward Truckload, Dedicated and Brokerage services. The…
- 10-Q · August 8, 2024
- Marten reported Q2 operating revenue of $246,238 (in thousands), down $39,434, or 13.8%, versus Q2 2023, with consolidated operating income falling to $9,974 (in thousands) and diluted EPS of $0.10. Profitability…
- 10-Q · May 9, 2024
- Marten Transport's Q1 2024 performance showed a significant decline in revenue and profitability compared to both the prior period and prior year. Revenue decreased by 16.2% year-over-year to $249.7 million, driven by…
- 10-K · February 28, 2024
- Marten Transport reports it is a leading temperature-sensitive truckload carrier and generated $1.131 billion in operating revenue in 2023, operating four reporting segments (Truckload, Dedicated, Intermodal and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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