Marten Transport, Ltd. (NASDAQ/GS:MRTN) has reported net income of $4.3 million, or 5 cents per diluted share, for the first quarter ended March 31, 2025, compared with $9.6 million, or 12 cents per diluted share, for the first quarter of 2024.
Operating revenue was $223.2 million for the first quarter of 2025 compared with $249.7 million for the first quarter of 2024. Excluding fuel surcharges, operating revenue was $195.8 million for the 2025 quarter compared with $215.7 million for the 2024 quarter. Fuel surcharge revenue decreased to $27.4 million for the 2025 quarter from $33.9 million for the 2024 quarter.
Operating income was $5.9 million for the first quarter of 2025 compared with $12.3 million for the first quarter of 2024.
Operating expenses as a percentage of operating revenue were 97.4% for the 2025 first quarter and 95.1% for the 2024 first quarter. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, were 97.0% for the 2025 first quarter and 94.3% for the 2024 first quarter.
Executive Chairman Randolph L. Marten stated, “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.”
The company remains 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 its operations to capitalize on profitable organic growth opportunities.
Marten Transport is pleased to have been certified by the Truckload Carriers Association (TCA) as a TCA Elite Fleet – 2025 Best Place to Drive.
Marten Transport, headquartered in Mondovi, Wisconsin, is a multifaceted business offering a network of time and temperature-sensitive and dry truck-based transportation and distribution capabilities across six distinct business platforms – temperature-sensitive and dry truckload, dedicated, intermodal, brokerage, and MRTN de Mexico. The company specializes in transporting and distributing food, beverages, and other consumer packaged goods that require a temperature-controlled or insulated environment, and offers services in the United States, Mexico, and Canada. Marten’s common stock is traded on the NASDAQ Global Select Market under the symbol MRTN. The market has reacted to these announcements by moving the company's shares -3.4% to a price of $12.83. For the full picture, make sure to review Marten Transport's 8-K report.
