--- title: "Marten Transport | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 203.53 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283886256.md" datetime: "2026-04-23T20:15:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283886256.md) - [en](https://longbridge.com/en/news/283886256.md) - [zh-HK](https://longbridge.com/zh-HK/news/283886256.md) --- # Marten Transport | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 203.53 M Revenue: As of FY2026 Q1, the actual value is USD 203.53 M, missing the estimate of USD 212.2 M. EPS: As of FY2026 Q1, the actual value is USD 0.02. EBIT: As of FY2026 Q1, the actual value is USD 1.592 M. ### Financial Performance Overview (Three Months Ended March 31) #### Net Income - Net income for Q1 2026 was $1.4 million, compared to $4.3 million in Q1 2025. #### Operating Revenue - Total Operating Revenue decreased to $203.5 million in Q1 2026 from $223.2 million in Q1 2025, representing an 8.8% decline. - Operating Revenue (excluding fuel surcharges) decreased to $177.2 million in Q1 2026 from $195.8 million in Q1 2025. - Fuel Surcharge Revenue decreased to $26.4 million in Q1 2026 from $27.4 million in Q1 2025. - Intermodal operations, which were sold in 2025, contributed $12.1 million to operating revenue in Q1 2025. #### Operating Income - Operating income for Q1 2026 was $1.6 million, down from $5.9 million in Q1 2025. #### Operating Expenses as a Percentage of Operating Revenue - Operating expenses were 99.2% of operating revenue in Q1 2026, up from 97.4% in Q1 2025. - Net of fuel surcharges, this figure was 99.1% in Q1 2026, compared to 97.0% in Q1 2025. #### Segment Revenue (in thousands) - **Truckload Revenue (net of fuel surcharge revenue)**: $89,310 in Q1 2026, down from $90,106 in Q1 2025 (-0.9%). - **Total Truckload Revenue**: $105,390 in Q1 2026, up from $104,391 in Q1 2025 (1.0%). - **Dedicated Revenue (net of fuel surcharge revenue)**: $53,174 in Q1 2026, down from $62,405 in Q1 2025 (-14.8%). - **Total Dedicated Revenue**: $63,463 in Q1 2026, down from $73,625 in Q1 2025 (-13.8%). - **Brokerage Revenue**: $34,673 in Q1 2026, up from $33,019 in Q1 2025 (5.0%). - **Intermodal Revenue**: $0 in Q1 2026, down from $12,117 in Q1 2025 (-100.0%). #### Segment Operating Income/(Loss) (in thousands) - **Truckload**: - $944 in Q1 2026, compared to - $300 in Q1 2025 (-214.7%). - **Dedicated**: $1,622 in Q1 2026, down from $4,854 in Q1 2025 (-66.6%). - **Brokerage**: $914 in Q1 2026, down from $2,160 in Q1 2025 (-57.7%). - **Intermodal**: $0 in Q1 2026, compared to - $855 in Q1 2025 (100.0%). #### Operating Ratio - **Consolidated Operating Ratio**: 99.2% in Q1 2026, up from 97.4% in Q1 2025. - **Consolidated Operating Ratio (net of fuel surcharges)**: 99.1% in Q1 2026, up from 97.0% in Q1 2025. - **Truckload Operating Ratio**: 100.9% in Q1 2026, up from 100.3% in Q1 2025. - **Dedicated Operating Ratio**: 97.4% in Q1 2026, up from 93.4% in Q1 2025. - **Brokerage Operating Ratio**: 97.4% in Q1 2026, up from 93.5% in Q1 2025. - **Intermodal Operating Ratio**: 0% in Q1 2026, compared to 107.1% in Q1 2025. #### Operational Metrics (Three Months Ended March 31) - **Truckload Segment**: - Average revenue, net of fuel surcharges, per tractor per week: $4,425 in Q1 2026, up from $4,196 in Q1 2025. - Average tractors: 1,570 in Q1 2026, down from 1,670 in Q1 2025. - Total miles: 36,887 thousand in Q1 2026, down from 38,273 thousand in Q1 2025. - **Dedicated Segment**: - Average revenue, net of fuel surcharges, per tractor per week: $3,909 in Q1 2026, up from $3,846 in Q1 2025. - Average tractors: 1,058 in Q1 2026, down from 1,262 in Q1 2025. - Total miles: 21,905 thousand in Q1 2026, down from 25,236 thousand in Q1 2025. - **Brokerage Segment**: - Loads: 23,882 in Q1 2026, up from 20,416 in Q1 2025. - **Intermodal Segment**: - Loads: 0 in Q1 2026, down from 3,657 in Q1 2025. - Average tractors: 0 in Q1 2026, down from 77 in Q1 2025. #### Company-wide Fleet Statistics (As of March 31) - **Total Tractors**: 2,595 in 2026, down from 3,040 in 2025. - **Average Age of Company Tractors**: 2.4 years in 2026, up from 2.0 years in 2025. - **Total Trailers**: 5,021 in 2026, down from 5,331 in 2025. - **Average Age of Company Trailers**: 5.1 years in 2026, down from 5.4 years in 2025. - **Ratio of Trailers to Tractors**: 1.9 in 2026, up from 1.8 in 2025. - **Total Refrigerated Containers**: 0 in 2026, down from 786 in 2025. #### Cash Flow (Three Months Ended March 31, in thousands) - **Net Cash Provided by Operating Activities**: $33,049 in Q1 2026, compared to $36,215 in Q1 2025. - **Net Cash Used for Investing Activities**: - $1,607 in Q1 2026, compared to - $8,413 in Q1 2025. - **Net Cash Used for Financing Activities**: - $4,934 in Q1 2026, compared to - $5,164 in Q1 2025. #### Outlook / Guidance Earnings were negatively impacted by severe winter storms and a sharp spike in diesel prices, despite sequential increases in revenue per tractor in truckload and dedicated operations. Marten Transport, Ltd. is focusing on minimizing freight market impact through safe, premium service, data-driven operating efficiencies, and aggressive cost controls. 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