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Marten Transport Announces Fourth Quarter and Year End Results

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Marten Transport (NASDAQ:MRTN) reported Q4 2024 net income of $5.6 million ($0.07 per share), down from $12.4 million ($0.15 per share) in Q4 2023, but up 50.1% from Q3 2024's $3.8 million. Operating revenue decreased to $230.4 million in Q4 2024 from $268.2 million in Q4 2023.

For full-year 2024, net income was $26.9 million ($0.33 per share), compared to $70.4 million ($0.86 per share) in 2023. Annual operating revenue declined to $963.7 million from $1.131 billion. Operating income for Q4 2024 was $6.7 million, down from $15.7 million in Q4 2023, but showing a 57.6% improvement from Q3 2024.

The company noted Q4 2024 as the first quarter since Q2 2022 with sequential improvements in net income, operating income, and operating ratio. Management highlighted sequential increases in revenue per tractor, rate per total mile, and miles per tractor in both truckload and dedicated operations.

Marten Transport (NASDAQ:MRTN) ha riportato un reddito netto di $5,6 milioni ($0,07 per azione) per il quarto trimestre del 2024, in calo rispetto ai $12,4 milioni ($0,15 per azione) del quarto trimestre del 2023, ma in aumento del 50,1% rispetto ai $3,8 milioni del terzo trimestre del 2024. Il fatturato operativo 猫 sceso a $230,4 milioni nel quarto trimestre del 2024 rispetto ai $268,2 milioni del quarto trimestre del 2023.

Per l'intero anno 2024, il reddito netto 猫 stato di $26,9 milioni ($0,33 per azione), rispetto ai $70,4 milioni ($0,86 per azione) del 2023. Il fatturato operativo annuale 猫 diminuito a $963,7 milioni rispetto a $1,131 miliardi. Il reddito operativo per il quarto trimestre del 2024 猫 stato di $6,7 milioni, in calo rispetto ai $15,7 milioni del quarto trimestre del 2023, ma mostrando un miglioramento del 57,6% rispetto al terzo trimestre del 2024.

L'azienda ha sottolineato che il quarto trimestre del 2024 rappresenta il primo trimestre dal secondo trimestre del 2022 con miglioramenti sequenziali nel reddito netto, nel reddito operativo e nel rapporto operativo. La gestione ha evidenziato aumenti sequenziali nel fatturato per trattore, tariffa per miglio totale e miglia per trattore sia nelle operazioni di carico completo che dedicate.

Marten Transport (NASDAQ:MRTN) report贸 un ingreso neto de $5.6 millones ($0.07 por acci贸n) en el cuarto trimestre de 2024, una disminuci贸n con respecto a los $12.4 millones ($0.15 por acci贸n) en el cuarto trimestre de 2023, pero un aumento del 50.1% en comparaci贸n con los $3.8 millones del tercer trimestre de 2024. Los ingresos operativos cayeron a $230.4 millones en el cuarto trimestre de 2024 desde $268.2 millones en el cuarto trimestre de 2023.

Para el a帽o completo de 2024, el ingreso neto fue de $26.9 millones ($0.33 por acci贸n), en comparaci贸n con $70.4 millones ($0.86 por acci贸n) en 2023. Los ingresos operativos anuales disminuyeron a $963.7 millones desde $1.131 mil millones. El ingreso operativo para el cuarto trimestre de 2024 fue de $6.7 millones, una disminuci贸n respecto a los $15.7 millones del cuarto trimestre de 2023, pero con una mejora del 57.6% en comparaci贸n con el tercer trimestre de 2024.

La compa帽铆a se帽al贸 que el cuarto trimestre de 2024 fue el primer trimestre desde el segundo trimestre de 2022 con mejoras secuenciales en el ingreso neto, el ingreso operativo y la relaci贸n operativa. La direcci贸n destac贸 aumentos secuenciales en los ingresos por tractor, la tarifa por milla total y las millas por tractor en ambas operaciones de carga completa y dedicadas.

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Marten Transport (NASDAQ:MRTN) a d茅clar茅 un revenu net de 5,6 millions de dollars (0,07 $ par action) pour le quatri猫me trimestre de 2024, en baisse par rapport 脿 12,4 millions de dollars (0,15 $ par action) au quatri猫me trimestre de 2023, mais en hausse de 50,1 % par rapport 脿 3,8 millions de dollars au troisi猫me trimestre de 2024. Le chiffre d'affaires op茅rationnel a diminu茅 pour atteindre 230,4 millions de dollars au quatri猫me trimestre de 2024, contre 268,2 millions de dollars au quatri猫me trimestre de 2023.

Pour l'ann茅e enti猫re 2024, le revenu net s'茅levait 脿 26,9 millions de dollars (0,33 $ par action), compar茅 脿 70,4 millions de dollars (0,86 $ par action) en 2023. Le chiffre d'affaires op茅rationnel annuel a chut茅 脿 963,7 millions de dollars contre 1,131 milliard de dollars. Le revenu op茅rationnel pour le quatri猫me trimestre de 2024 茅tait de 6,7 millions de dollars, en baisse par rapport aux 15,7 millions de dollars du quatri猫me trimestre de 2023, mais montrant une am茅lioration de 57,6 % par rapport au troisi猫me trimestre de 2024.

L'entreprise a soulign茅 que le quatri猫me trimestre de 2024 茅tait le premier trimestre depuis le deuxi猫me trimestre de 2022 avec des am茅liorations s茅quentielles dans le revenu net, le revenu op茅rationnel et le ratio op茅rationnel. La direction a mis en 茅vidence des augmentations s茅quentielles du revenu par tracteur, du tarif par mile total et des miles par tracteur dans les op茅rations de chargement complet et d茅di茅es.

Marten Transport (NASDAQ:MRTN) meldete im vierten Quartal 2024 einen Nettogewinn von 5,6 Millionen US-Dollar (0,07 US-Dollar pro Aktie), ein R眉ckgang von 12,4 Millionen US-Dollar (0,15 US-Dollar pro Aktie) im vierten Quartal 2023, jedoch ein Anstieg um 50,1% im Vergleich zu 3,8 Millionen US-Dollar im dritten Quartal 2024. Der operative Umsatz ging im vierten Quartal 2024 auf 230,4 Millionen US-Dollar zur眉ck, nachdem er im vierten Quartal 2023 bei 268,2 Millionen US-Dollar lag.

F眉r das Gesamtjahr 2024 betrug der Nettogewinn 26,9 Millionen US-Dollar (0,33 US-Dollar pro Aktie), verglichen mit 70,4 Millionen US-Dollar (0,86 US-Dollar pro Aktie) im Jahr 2023. Der j盲hrliche operative Umsatz sank auf 963,7 Millionen US-Dollar von 1,131 Milliarden US-Dollar. Der operative Gewinn f眉r das vierte Quartal 2024 betrug 6,7 Millionen US-Dollar, ein R眉ckgang von 15,7 Millionen US-Dollar im vierten Quartal 2023, jedoch eine Verbesserung um 57,6% im Vergleich zum dritten Quartal 2024.

Das Unternehmen wies darauf hin, dass das vierte Quartal 2024 das erste Quartal seit dem zweiten Quartal 2022 war, in dem sequentielle Verbesserungen beim Nettogewinn, operativen Gewinn und operativen Verh盲ltnis erzielt wurden. Das Management hob die sequentiellen Steigerungen des Umsatzes pro Traktor, des Tarifs pro Gesamtmile und der Meilen pro Traktor in den Bereichen Voll- und Dedizierte Transporte hervor.

Positive
  • 50.1% sequential increase in quarterly net income from Q3 2024
  • 57.6% sequential improvement in operating income from Q3 2024
  • First quarter since Q2 2022 with sequential improvements across key metrics
  • Sequential increases in revenue per tractor, rate per mile, and miles per tractor
Negative
  • 54.8% decrease in Q4 net income year-over-year ($5.6M vs $12.4M)
  • 61.8% decline in full-year net income ($26.9M vs $70.4M)
  • 14.1% decrease in Q4 operating revenue year-over-year ($230.4M vs $268.2M)
  • Operating expenses increased to 97.1% of revenue in Q4 2024 vs 94.2% in Q4 2023

Insights

Marten Transport's Q4 2024 results reveal a complex narrative in the challenging freight transportation sector. While the headline numbers show significant year-over-year declines, with net income dropping 54.8% to $5.6 million, the sequential improvements are particularly noteworthy. This marks the first quarter since Q2 2022 showing simultaneous improvements in net income, operating income and operating ratio.

The operating metrics tell a compelling story. The company's operating ratio (net of fuel surcharges) improved to 96.7% from 97.9% in Q3 2024, though still lagging behind the 93.2% from Q4 2023. This sequential improvement, combined with enhanced revenue per tractor and rate per total mile across both truckload and dedicated operations, suggests the beginning of a potential market stabilization.

A critical examination of the revenue structure shows that core revenue (excluding fuel surcharges) was $202.9 million, representing a 11.6% year-over-year decline. The reduction in fuel surcharge revenue from $38.8 million to $27.6 million reflects lower fuel costs, which typically has a neutral bottom-line impact but affects top-line comparisons.

The company's strategic positioning for the next phase of the freight cycle, particularly its focus on temperature-sensitive transportation, could prove advantageous as the market moves toward equilibrium. The sequential improvements in operational metrics, while modest, indicate potential bottoming of the freight market recession that has been characterized by severe cost inflation and rate pressure.

MONDOVI, Wis., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported net income of $5.6 million, or 7 cents per diluted share, for the fourth quarter ended December 31, 2024, compared with $12.4 million, or 15 cents per diluted share, for the fourth quarter of 2023. The 2024 fourth-quarter earnings improved 50.1% sequentially from 2024 third-quarter net income of $3.8 million, or 5 cents per diluted share. For the year ended December 31, 2024, net income was $26.9 million, or 33 cents per diluted share, compared with $70.4 million, or 86 cents per diluted share, for 2023.

Operating revenue was $230.4 million for the fourth quarter of 2024 compared with $268.2 million for the fourth quarter of 2023. Excluding fuel surcharges, operating revenue was $202.9 million for the 2024 quarter compared with $229.4 million for the 2023 quarter. Fuel surcharge revenue decreased to $27.6 million for the 2024 quarter from $38.8 million for the 2023 quarter.

Operating revenue was $963.7 million for 2024 compared with $1.131 billion for 2023. Excluding fuel surcharges, operating revenue was $840.0 million for 2024 compared with $972.0 million for 2023. Fuel surcharge revenue decreased to $123.7 million for 2024 compared with $159.4 million for 2023.

Operating income was $6.7 million for the fourth quarter of 2024 compared with $15.7 million for the fourth quarter of 2023. The 2024 fourth-quarter operating income improved 57.6% from operating income of $4.3 million for the third quarter of 2024.

Operating income was $33.2 million for 2024 compared with $90.1 million for 2023.

Operating expenses as a percentage of operating revenue were 97.1% for the 2024 fourth quarter and 94.2% for the 2023 fourth quarter. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, were 96.7% for the 2024 fourth quarter and 93.2% for the 2023 fourth quarter 鈥� compared with 97.9% for the third quarter of 2024.

Operating expenses as a percentage of operating revenue were 96.6% for 2024 and 92.0% for 2023. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, were 96.0% for 2024 and 90.7% for 2023.

Executive Chairman Randolph L. Marten stated, 鈥淲e are encouraged by this quarter being the first quarter with sequential improvement in each of our net income, operating income and operating ratio, net of fuel surcharges, since the second quarter of 2022, a period that preceded the freight market recession鈥檚 severe inflationary operating costs, freight rate reductions and freight network disruptions. Our people also drove sequential increases this quarter in our revenue per tractor, rate per total mile and miles per tractor within each of our truckload and dedicated operations.鈥�

鈥淲e continue to focus on minimizing the freight market鈥檚 impact on our operations while investing in and positioning our operations to capitalize on profitable organic growth opportunities, with fair compensation for our premium services, across each of our business operations for what comes next in the freight cycle as the market moves toward equilibrium.鈥�

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities across Marten鈥檚 five distinct business platforms - 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鈥檚 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鈥檚 prospects for future growth 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鈥檚 Annual Report on Form 10-K for the year ended December 31, 2023. 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
听
(In thousands, except share information)December 31,
2024		听December 31,
2023		听
听(Unaudited)听听听听听
ASSETS听听听听听听听听
Current assets:听听听听听听听听
Cash and cash equivalents$17,267听听$53,213听听
Receivables:听听听听听听听听
Trade, net听89,992听听听105,501听听
Other听5,364听听听10,356听听
Prepaid expenses and other听25,888听听听27,512听听
听 听Total current assets听138,511听听听196,582听听
听听听听听听听听听
Property and equipment:听听听听听听听听
Revenue equipment, buildings and land, office equipment and other听1,198,737听听听1,162,336听听
Accumulated depreciation听(370,124)听听(370,103)听
听 听Net property and equipment听828,613听听听792,233听听
Other noncurrent assets听1,633听听听1,524听听
听 听 听Total assets$968,757听听$990,339听听
听听听听听听听听听
LIABILITIES AND STOCKHOLDERS鈥� EQUITY听听听听听听听听
Current liabilities:听听听听听听听听
Accounts payable$25,781听听$36,516听听
Insurance and claims accruals听44,246听听听47,017听听
Accrued and other current liabilities听23,492听听听26,709听听
听 听Total current liabilities听93,519听听听110,242听听
Deferred income taxes听107,034听听听122,462听听
Noncurrent operating lease liabilities听282听听听249听听
听 听Total liabilities听200,835听听听232,953听听
听听听听听听听听听
Stockholders鈥� equity:听听听听听听听听
Preferred stock, $.01 par value per share; 2,000,000 shares authorized;
听 听 听 听no shares issued and outstanding		听-听听听-听听
Common stock, $.01 par value per share; 192,000,000 shares
听 听 听 听authorized; 81,463,938 shares at December 31, 2024, and
听 听 听 听81,312,168 shares at December 31, 2023, issued and outstanding		听815听听听813听听
Additional paid-in capital听52,941听听听49,789听听
Retained earnings听714,166听听听706,784听听
听 听Total stockholders鈥� equity听767,922听听听757,386听听
听 听 听Total liabilities and stockholders鈥� equity$968,757听听$990,339听听
听


MARTEN TRANSPORT, LTD.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
听
听Three听Months
Ended December 31,		听听Year
Ended December 31,		听听
(In thousands, except per share information)2024听听2023听听2024听听2023听听
听听听听听听听听听听听听听听听听听
Operating revenue$230,432听听$268,222听听$963,708听听$1,131,455听听
听听听听听听听听听听听听听听听听听
Operating expenses (income):听听听听听听听听听听听听听听听听
Salaries, wages and benefits听83,009听听听91,350听听听341,732听听听378,818听听
Purchased transportation听39,231听听听47,259听听听169,142听听听199,334听听
Fuel and fuel taxes听32,992听听听42,731听听听147,143听听听180,437听听
Supplies and maintenance听14,331听听听16,120听听听63,337听听听67,411听听
Depreciation听27,528听听听28,748听听听111,653听听听116,722听听
Operating taxes and licenses听2,683听听听2,708听听听10,302听听听11,053听听
Insurance and claims听15,134听听听15,209听听听53,109听听听56,014听听
Communications and utilities听2,195听听听2,524听听听9,029听听听10,149听听
Gain on disposition of revenue equipment听(387)听听(1,802)听听(4,971)听听(13,612)听
Other听6,989听听听7,718听听听30,012听听听35,019听听
听听听听听听听听听听听听听听听听听
听 听 听 听 听 听 听 听 听 听 听Total operating expenses听223,705听听听252,565听听听930,488听听听1,041,345听听
听听听听听听听听听听听听听听听听听
Operating income听6,727听听听15,657听听听33,220听听听90,110听听
听听听听听听听听听听听听听听听听听
Other听(394)听听(868)听听(3,126)听听(3,806)听
听听听听听听听听听听听听听听听听听
Income before income taxes听7,121听听听16,525听听听36,346听听听93,916听听
听听听听听听听听听听听听听听听听听
Income taxes expense听1,488听听听4,126听听听9,424听听听23,543听听
听听听听听听听听听听听听听听听听听
Net income$5,633听听$12,399听听$26,922听听$70,373听听
听听听听听听听听听听听听听听听听听
Basic earnings per common share$0.07听听$0.15听听$0.33听听$0.87听听
听听听听听听听听听听听听听听听听听
Diluted earnings per common share$0.07听听$0.15听听$0.33听听$0.86听听
听听听听听听听听听听听听听听听听听
Dividends declared per common share$0.06听听$0.06听听$0.24听听$0.24听听
听


听MARTEN TRANSPORT, LTD.
SEGMENT INFORMATION
(Unaudited)
听
听Three Months
Ended
December 31,		听听Dollar
Change
Three Months
Ended
December 31,听		听听听Percentage
Change
Three Months
Ended
December 31,		听听
(Dollars in thousands)2024听听2023听听2024 vs. 2023听听2024 vs. 2023听听
Operating revenue:听听听听听听听听听听听听听听听听
Truckload revenue, net of fuel surcharge revenue$93,106听听$95,461听听$(2,355)听听(2.5)%听
Truckload fuel surcharge revenue听14,188听听听18,023听听听(3,835)听听(21.3)听
Total Truckload revenue听107,294听听听113,484听听听(6,190)听听(5.5)听
听听听听听听听听听听听听听听听听听
Dedicated revenue, net of fuel surcharge revenue听64,997听听听77,731听听听(12,734)听听(16.4)听
Dedicated fuel surcharge revenue听11,391听听听17,310听听听(5,919)听听(34.2)听
Total Dedicated revenue听76,388听听听95,041听听听(18,653)听听(19.6)听
听听听听听听听听听听听听听听听听听
Intermodal revenue, net of fuel surcharge revenue听11,238听听听15,610听听听(4,372)听听(28.0)听
Intermodal fuel surcharge revenue听1,971听听听3,467听听听(1,496)听听(43.1)听
Total Intermodal revenue听13,209听听听19,077听听听(5,868)听听(30.8)听
听听听听听听听听听听听听听听听听听
Brokerage revenue听33,541听听听40,620听听听(7,079)听听(17.4)听
听听听听听听听听听听听听听听听听听
听 Total operating revenue$230,432听听$268,222听听$(37,790)听听听(14.1)%听
听听听听听听听听听听听听听听听听听
Operating income/(loss):听听听听听听听听听听听听听听听听
Truckload$1,821听听$2,487听听$(666)听听(26.8)%听
Dedicated听4,073听听听9,234听听听(5,161)听听(55.9)听
Intermodal听(1,502)听听296听听听(1,798)听听(607.4)听
Brokerage听2,335听听听3,640听听听(1,305)听听(35.9)听
Total operating income$6,727听听$15,657听听$(8,930)听听(57.0)%听
听听听听听听听听听听听听听听听听听
Operating ratio:听听听听听听听听听听听听听听听听
Truckload听98.3%听听97.8%听听听听听听听听听
Dedicated听94.7听听听90.3听听听听听听听听听听
Intermodal听111.4听听听98.4听听听听听听听听听听
Brokerage听93.0听听听91.0听听听听听听听听听听
听 Consolidated operating ratio听97.1%听听94.2%听听听听听听听听听
听听听听听听听听听听听听听听听听听
Operating ratio, net of fuel surcharges:听听听听听听听听听听听听听听听听
Truckload听98.0%听听97.4%听听听听听听听听听
Dedicated听93.7听听听88.1听听听听听听听听听听
Intermodal听113.4听听听98.1听听听听听听听听听听
Brokerage听93.0听听听91.0听听听听听听听听听听
听 Consolidated operating ratio, net of fuel
听 听 听surcharges		听96.7%听听93.2%听听听听听听听听听
听


MARTEN TRANSPORT, LTD.
SEGMENT INFORMATION
(Unaudited)
听
听Year
Ended
December 31,		听听Dollar
Change
Year
Ended
December 31,		听听Percentage
Change
Year
Ended
December 31,		听听
(Dollars in thousands)2024听听2023听听2024 vs. 2023听听2024 vs. 2023听听
Operating revenue:听听听听听听听听听听听听听听听听
Truckload revenue, net of fuel surcharge revenue$377,452听听$395,565听听$(18,113)听听(4.6)%听
Truckload fuel surcharge revenue听62,340听听听69,910听听听(7,570)听听(10.8)听
Total Truckload revenue听439,792听听听465,475听听听(25,683)听听(5.5)听
听听听听听听听听听听听听听听听听听
Dedicated revenue, net of fuel surcharge revenue听267,077听听听334,962听听听(67,885)听听(20.3)听
Dedicated fuel surcharge revenue听52,058听听听73,310听听听(21,252)听听(29.0)听
Total Dedicated revenue听319,135听听听408,272听听听(89,137)听听(21.8)听
听听听听听听听听听听听听听听听听听
Intermodal revenue, net of fuel surcharge revenue听49,468听听听75,887听听听(26,419)听听(34.8)听
Intermodal fuel surcharge revenue听9,286听听听16,191听听听(6,905)听听(42.6)听
Total Intermodal revenue听58,754听听听92,078听听听(33,324)听听(36.2)听
听听听听听听听听听听听听听听听听听
Brokerage revenue听146,027听听听165,630听听听(19,603)听听(11.8)听
听听听听听听听听听听听听听听听听听
听 Total operating revenue$963,708听听$1,131,455听听$(167,747)听听听(14.8)%听
听听听听听听听听听听听听听听听听听
Operating income/(loss):听听听听听听听听听听听听听听听听
Truckload$3,283听听$24,835听听$(21,552)听听(86.8)%听
Dedicated听23,037听听听48,377听听听(25,340)听听(52.4)听
Intermodal听(3,922)听听(156)听听(3,766)听听(2,414.1)听
Brokerage听10,822听听听17,054听听听(6,232)听听(36.5)听
听 Total operating income$33,220听听$90,110听听$(56,890)听听(63.1)%听
听听听听听听听听听听听听听听听听听
Operating ratio:听听听听听听听听听听听听听听听听
Truckload听99.3%听听94.7%听听听听听听听听听
Dedicated听92.8听听听88.2听听听听听听听听听听
Intermodal听106.7听听听100.2听听听听听听听听听听
Brokerage听92.6听听听89.7听听听听听听听听听听
听 Consolidated operating ratio听96.6%听听92.0%听听听听听听听听听
听听听听听听听听听听听听听听听听听
Operating ratio, net of fuel surcharges:听听听听听听听听听听听听听听听听
Truckload听99.1%听听93.7%听听听听听听听听听
Dedicated听91.4听听听85.6听听听听听听听听听听
Intermodal听107.9听听听100.2听听听听听听听听听听
Brokerage听92.6听听听89.7听听听听听听听听听听
听 Consolidated operating ratio, net of fuel
听 听 听surcharges		听96.0%听听90.7%听听听听听听听听听
听


MARTEN TRANSPORT, LTD.
OPERATING STATISTICS
(Unaudited)
听
听Three Months
Ended December 31,		听听Year
Ended December 31,		听听
听2024听听2023听听2024听听2023听听
Truckload Segment:听听听听听听听听听听听听听听听听
Revenue (in thousands)$107,294听听$113,484听听$439,792听听$465,475听听
Average revenue, net of fuel surcharges, per tractor per
听 听week(1)		$4,227听听$4,183听听$4,123听听$4,377听听
Average tractors(1)听1,676听听听1,737听听听1,751听听听1,733听听
Average miles per trip听535听听听533听听听533听听听519听听
Non-revenue miles percentage(2)听11.8%听听12.4%听听12.1%听听12.4%听
Total miles (in thousands)听39,147听听听39,278听听听158,985听听听155,929听听
听听听听听听听听听听听听听听听听听
Dedicated Segment:听听听听听听听听听听听听听听听听
Revenue (in thousands)$76,388听听$95,041听听$319,135听听$408,272听听
Average revenue, net of fuel surcharges, per tractor per
听 听week(1)		$3,841听听$3,895听听$3,767听听$3,936听听
Average tractors(1)听1,288听听听1,518听听听1,356听听听1,632听听
Average miles per trip听313听听听335听听听319听听听335听听
Non-revenue miles percentage(2)听1.5%听听1.2%听听1.3%听听1.2%听
Total miles (in thousands)听26,799听听听31,215听听听110,681听听听133,163听听
听听听听听听听听听听听听听听听听听
Intermodal Segment:听听听听听听听听听听听听听听听听
Revenue (in thousands)$13,209听听$19,077听听$58,754听听$92,078听听
Loads听3,803听听听5,289听听听16,975听听听25,160听听
Average tractors听88听听听133听听听110听听听159听听
听听听听听听听听听听听听听听听听听
Brokerage Segment:听听听听听听听听听听听听听听听听
Revenue (in thousands)$33,541听听$40,620听听$146,027听听$165,630听听
Loads听21,749听听听23,594听听听89,138听听听91,077听听
听听听听听听听听听听听听听听听听听
At December 31, 2024 and December 31, 2023:听听听听听听听听听听听听听听听听
Total tractors(1)听3,006听听听3,349听听听听听听听听听听
Average age of company tractors (in years)听1.9听听听1.9听听听听听听听听听听
Total trailers听5,440听听听5,653听听听听听听听听听听
Average age of company trailers (in years)听5.3听听听4.6听听听听听听听听听听
Ratio of trailers to tractors(1)听1.8听听听1.7听听听听听听听听听听
Total refrigerated containers听786听听听787听听听听听听听听听听
听


听听Three Months
Ended December 31,		听听Year
Ended December 31,		听听
(In thousands)2024听2023听2024听2023听
听听听听听听听听听听听听听听听听听听
Net cash provided by operating activities$23,793听听$38,045听听$134,814听听$164,378听听
Net cash used for investing activities听(44,891)听听(48,070)听听(152,138)听听(172,540)听
Net cash used for financing activities听(4,625)听听(4,829)听听(18,622)听听(19,225)听
听听听听听听听听听听听听听听听听听听
Weighted average shares outstanding:听听听听听听听听听听听听听听听听
Basic听81,457听听听81,309听听听81,406听听听81,272听听
Diluted听81,507听听听81,418听听听81,472听听听81,413听听
听听听
(1)Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 88 and 94 tractors as of December 31, 2024 and 2023, respectively.听听
(2)Represents the percentage of miles for which the company is not compensated.听

FAQ

What was Marten Transport's (MRTN) Q4 2024 net income compared to Q4 2023?

Marten Transport's Q4 2024 net income was $5.6 million ($0.07 per share), down from $12.4 million ($0.15 per share) in Q4 2023.

How much did MRTN's operating revenue decline in Q4 2024?

Operating revenue declined to $230.4 million in Q4 2024 from $268.2 million in Q4 2023, a decrease of 14.1%.

What was MRTN's full-year 2024 performance compared to 2023?

Full-year 2024 net income was $26.9 million ($0.33 per share), down from $70.4 million ($0.86 per share) in 2023, with revenue declining from $1.131 billion to $963.7 million.

How did MRTN's Q4 2024 performance compare to Q3 2024?

Q4 2024 showed significant sequential improvements, with net income up 50.1% and operating income up 57.6% compared to Q3 2024.

What was MRTN's operating ratio in Q4 2024 versus Q4 2023?

Operating expenses as a percentage of revenue (operating ratio) increased to 97.1% in Q4 2024 from 94.2% in Q4 2023.
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NASDAQ:MRTN

MRTN Rankings

#3429 Ranked by Market Cap
#1463 Ranked by Dividends

MRTN Latest News

Jul 22, 2025
MARTEN TRANSPORT ANNOUNCES SALE OF ASSETS RELATED TO INTERMODAL BUSINESS
Jul 16, 2025
Marten Transport Announces Second Quarter Results
May 6, 2025
MARTEN TRANSPORT DECLARES QUARTERLY DIVIDEND
Apr 16, 2025
Marten Transport Announces First Quarter Results
Feb 21, 2025
MARTEN TRANSPORT DECLARES QUARTERLY DIVIDEND

MRTN Latest SEC Filings

Jul 16, 2025
[8-K] Marten Transport Ltd Reports Material Event

MRTN Stock Data

1.10B
57.55M
29.3%
71.86%
1.19%
Trucking
Trucking (no Local)
United States
MONDOVI

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