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Marten Transport Shares Fall on Cost Pressures Despite Market Tightening

Marten Transport's stock declined 7% Friday following third-quarter results that missed analyst expectations. The Mondovi, Wisconsin-based refrigerated carrier reported net income of $2.9 million, or 4 cents per share. This exceeded year-ago results by a penny but fell 2 cents short of consensus estimates. Rising fuel and health insurance expenses weighed on profitability, only partially offset by gains on equipment sales. Consolidated revenue reached $223 million, up 1% annually, though the 2025 sale of its intermodal division to Hub Group created a $9.9 million revenue headwind. One-way truckload revenue climbed 12% to $117 million, with revenue per tractor per week excluding fuel up 15% despite a 9% smaller fleet. The dedicated segment contracted, with revenue declining 9% year-over-year. Management attributed market tightening to enhanced federal and state enforcement removing noncompliant driver capacity.