trucking

Marten Transport Lifts Rates as Reefer Capacity Tightens

Marten Transport is capitalizing on a sharply firmer refrigerated trucking market that has emerged from the industry's longest freight recession. The Wisconsin-based carrier reported second-quarter non-dedicated truckload revenue of $116 million, up 9% year-over-year, driven by improved pricing power as carrier capacity contracted. Chief Executive Randy Marten attributed the market shift to regulatory enforcement that has removed noncompliant drivers from service. The company reduced its tractor fleet 8% while growing revenue per tractor 9%. Revenue per loaded mile increased 6% year-over-year, and the operating ratio improved 10 basis points year-over-year. Marten's dedicated segment posted weaker results, with revenue declining 14% despite a 3% per-tractor rate increase. Brokerage revenue held flat at $40 million as higher load volumes offset per-load rate pressure.