Refrigerated carrier Marten Transport said a significantly tighter capacity environment is allowing it to improve freight selection and push rates higher.
Marten’s first quarter earnings still showed a company dealing with a weak freight market.
Truckload stocks have been on a wild ride after signs of an improving spot market were amplified by positive manufacturing data, and then slightly doused by the threat of AI upheaval.
Marten Transport saw improvement sequentially even as year-to-year comparisons remained weak.
Marten was overall profitable in the quarter but its Truckload segment lagged.
Marten Transport announced Tuesday that CEO Tim Kohl is retiring at the end of September and will be replaced by Executive Chairman Randy Marten.
Marten is selling its intermodal unit, which is focused on refrigerated, to Hub Group.
Marten’s second quarter showed some measures of improvement even as it acknowledged the tough freight market.
Q1 earnings season is upon us, with early results pointing to continued degradation in truckload carriers’ financial health. Wisconsin-based Marten Transport released its Q1 earnings on Wednesday, but with publicly traded companies timing is everything.
Marten’s earnings showed a truckload carrier fighting a tough market with little sign of improvement.
Refrigerated carrier Marten Transport said it was encouraged with sequential improvement in metrics during the fourth quarter even as meaningful year-over-year deterioration continued.
Marten Transport turned in a quarterly earnings report that was negative by almost every measure.
Marten Transport cited the weak freight market in reducing the salaries of six top executives. The executives’ 2023 salaries ranged from $267,000 to about $811,000.
Heartland Express’ Q2 earnings saw a net loss of $3.5 million as it works to improve its operating ratio and profitability
Marten’s second-quarter earnings deteriorated, but it said it hasn’t cut contract rates since August.
Marten is the latest trucking company to report earnings that reflect the weak trucking market.
Truckload carrier Marten saw its earnings fall from a year ago and detailed how much of that was caused by higher fuel prices.
With sequential comparisons as important as year on year, truckload carrier Marten held on in Q2 compared to Q1.
Truckload carrier Marten had a first quarter in which it drove more miles than last year but made less money.
Marten Transport had a mostly steady quarter, with some improvements and some softness.
