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…
Earnings analysis · 10-Q
MRTN earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.02
What stood out
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Revenue Decline
Total revenue decreased by 8.8% to $203.5 million from $223.2 million year-over-year.
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Operating Income Drop
Operating income fell 72.8% to $1.6 million, down from $5.9 million year-over-year.
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EPS Consistency
EPS remained stable at $0.02, matching estimates but reflecting a decrease from $0.05 in the prior year.
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Cash Flow Generation
Net cash provided by operating activities amounted to $33.0 million in Q1 2026.
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Cash Holdings Increase
Cash and cash equivalents increased to $74.8 million amidst ongoing capital expenditures.
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Dedicated Segment Revenue Decline
Dedicated segment revenue dropped 14.8% to $63.5 million, impacting overall profitability.
What to watch
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Revenue Contraction
Total operating revenue decreased by $19.6 million, or 8.8%, compared to Q1 2025.
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Profitability Compression
Operating ratio worsened to 99.2% from 97.4%, signaling increased costs relative to revenue.
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Segment Weakness
Dedicated segment saw a 14.8% decline in revenue, challenging future growth prospects.
Management's outlook
No numeric forward guidance provided; management cited market risks in their discussion.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.