MRTN News & Events

Reports Q1 revenue $203.53M, consensus $211.22M. Chairman of the board and CEO Randolph Marten stated, "Our people drove sequential increases in our revenue per tractor within our truckload and dedicated operations each of the last two quarters. This impact on our earnings was more than offset by the prolonged severe winter storms and the sharp spike in diesel prices in the first quarter."

Reports Q4 revenue $210.11M, consensus $206.12M. Chairman of the board and CEO Randolph Marten stated, "We are encouraged by the sequential improvement in our profitability. Our people also drove sequential increases this quarter in our revenue per tractor, rate per total mile and miles per tractor within each of our truckload and dedicated operations."

Reports Q3 revenue $220.47M, consensus $225.29M. Chairman of the board and CEO Randolph Marten stated, "Our earnings have continued to be significantly pressured by the historic duration and depth of the freight market recession's oversupply and weak demand -- and the cumulative impact of inflationary operating costs, unacceptable freight rate reductions and freight network disruptions. Our unique multifaceted business model's value continued to be highlighted by the operating results of our dedicated and brokerage operations for the first nine months of this year and throughout last year."

Marten Transport announced that Timothy Kohl, the company's CEO, has decided to retire from his role as CEO effective September 30. Randolph Marten, the company's executive chairman of the board of directors and previous CEO, has been named chairman of the board of directors and CEO, effective October 1. Marten has been a full-time employee of the company since 1974. Marten has been a director since October 1980 and executive chairman of the board since May 2021.