Marten Transport Reports Q2 Results Amid Tightening Reefer Market
Refrigerated trucking company Marten Transport reported second-quarter results showing improved fundamentals due to a tightening reefer market. CEO Randy Marten attributed the improvement to regulatory actions reducing noncompliant drivers and improving capacity constraints, which allowed for higher freight selection and rate increases. Marten's revenue from its non-dedicated truckload fleet rose 9% year-over-year to $116 million, with a notable increase in revenue per tractor. However, the dedicated segment saw a decline due to fewer trucks in service despite improved utilization rates. Consolidated revenue was slightly below expectations at $224 million and down from last year. The company maintained a debt-free balance sheet but reported lower earnings per share compared to 2025, partly due to reduced gains on equipment sales.