Financials

Marten Has A Rough Quarter

Not a lot of good news to report from Mondovi, WI based carrier as it continues to struggle with depressed freight rates

All four operating divisions saw YoY deterioration in both revenue and income. Intermodal took the hardest hit, down over 29% in revenue and more than tripling operating losses. The company further reduced the size of its intermodal fleet in response.
Revenue at the mainstay truckload division was down the least but it still lost money. Improved revenue per tractor and better utilization could not offset the continued rate-per-mile deterioration.
The fuel surcharge recovery rate dropped for all three trucking divisions. The rate averaged 14.7% of total revenue in Q1 2025 vs 16.29% in Q1 2024. Fuel costs did not drop as much, going from 15.85% of revenue in 2024 to 14.84% of revenue in 2025.
Salary and wage costs were almost identical as a percentage of revenue. Signs that the company reduced trucks and drivers in line with revenue degradation.