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Dec 31, 2025
Marten Transport Q4 2025 Earnings Report
Marten Transport reported a decline in revenue and profitability in Q4 2025 compared to the prior year, but sequential improvements from Q3 were noted.
Key Takeaways
Marten Transport's Q4 2025 results showed lower revenue and net income versus Q4 2024, primarily due to continued freight market pressures. However, profitability improved sequentially from Q3 2025.
Q4 2025 net income was $3.7 million, down from $5.6 million in Q4 2024 but up from $2.2 million in Q3 2025.
Operating revenue for Q4 2025 declined to $210.1 million from $230.4 million in Q4 2024.
Brokerage revenue rose 13.8% YoY to $38.2 million in Q4 2025, while Intermodal operations were fully exited.
Operating income improved sequentially to $4.6 million in Q4 2025 from $2.7 million in Q3.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Marten expects to benefit from a stabilizing freight market and recent regulatory changes, while maintaining a disciplined focus on cost control and operational efficiency.
Positive Outlook
- Sequential improvement in profitability observed in Q4.
- Stronger performance in Brokerage segment with double-digit revenue growth.
- Improved revenue per tractor and miles per tractor in Truckload and Dedicated segments.
- Debt-free balance sheet supports continued investment in fleet and technology.
- Recent immigration enforcement may positively impact driver availability.
Challenges Ahead
- Freight market recession continues to pressure earnings.
- Declines in both Truckload and Dedicated revenues YoY.
- Loss of Intermodal revenue following business exit.
- Operating expenses remain elevated due to inflation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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