Revenue: As of FY2026 Q2, the actual value is USD 223.54 M, missing the estimate of USD 227.27 M.

EPS: As of FY2026 Q2, the actual value is USD 0.07.

EBIT: As of FY2026 Q2, the actual value is USD 7.637 M.

Net Income

Marten Transport, Ltd.’s net income for the second quarter of 2026 was $5.3 million, a decrease from $7.2 million in the second quarter of 2025, but a sequential improvement of 286.3% from the first quarter of 2026 net income of $1.4 million. For the six-month period ended June 30, 2026, net income was $6.7 million, down from $11.5 million for the 2025 six-month period.

Operating Revenue

Total operating revenue for the second quarter of 2026 was $223.5 million, compared to $229.9 million for the second quarter of 2025. Excluding fuel surcharges, operating revenue was $185.2 million for Q2 2026, down from $203.8 million for Q2 2025. Fuel surcharge revenue increased to $38.3 million for Q2 2026 from $26.1 million for Q2 2025. For the first six months of 2026, total operating revenue was $427.1 million, compared to $453.1 million for the first six months of 2025. Excluding fuel surcharges, six-month operating revenue was $362.4 million for 2026, down from $399.6 million for 2025. Fuel surcharge revenue for the six-month period increased to $64.7 million for 2026 from $53.5 million for 2025.

Operating Income

Operating income was $6.9 million for the second quarter of 2026, a decrease from $9.7 million for the second quarter of 2025. For the first six months of 2026, operating income was $8.5 million, compared to $15.6 million for the first six months of 2025.

Operating Costs (as a percentage of operating revenue)

Operating expenses as a percentage of operating revenue were 96.9% for Q2 2026, up from 95.8% for Q2 2025. When both amounts are net of fuel surcharges, the operating expense percentage was 96.3% for Q2 2026, compared to 95.2% for Q2 2025. For the first six months of 2026, this percentage was 98.0%, up from 96.6% for the first six months of 2025. Net of fuel surcharges, the six-month operating expense percentage was 97.7% for 2026, compared to 96.1% for 2025.

Segment Revenue (Three Months Ended June 30)

• Truckload: Total revenue increased by 9.2% to $116,320 thousand in 2026 from $106,486 thousand in 2025. Revenue net of fuel surcharge saw a slight increase of 0.3% to $92,721 thousand, while fuel surcharge revenue grew by 68.5% to $23,599 thousand.
• Dedicated: Total revenue decreased by -6.4% to $67,296 thousand in 2026 from $71,874 thousand in 2025. Revenue net of fuel surcharge decreased by -14.3% to $52,578 thousand, while fuel surcharge revenue increased by 39.7% to $14,718 thousand.
• Brokerage: Revenue increased by 0.2% to $39,927 thousand in 2026 from $39,859 thousand in 2025.
• Intermodal: Revenue was $0 in 2026, a -100.0% decrease from $11,703 thousand in 2025, as Intermodal operations were sold in 2025.

Segment Operating Income (Three Months Ended June 30)

• Truckload: Operating income increased by 3.1% to $2,417 thousand in 2026 from $2,344 thousand in 2025.
• Dedicated: Operating income decreased by -55.1% to $2,440 thousand in 2026 from $5,429 thousand in 2025.
• Brokerage: Operating income decreased by -23.6% to $2,059 thousand in 2026 from $2,696 thousand in 2025.
• Intermodal: Operating income was $0 in 2026, an increase of 100.0% from - $735 thousand in 2025, due to the sale of operations.

Cash Flow

Net cash provided by operating activities was $27,669 thousand for Q2 2026, down from $33,153 thousand for Q2 2025. For the six-month period, net cash provided by operating activities was $60,718 thousand in 2026, compared to $69,368 thousand in 2025. Net cash provided by investing activities was $10,731 thousand for Q2 2026, compared to net cash used for investing activities of - $33,115 thousand for Q2 2025. For the six-month period, net cash provided by investing activities was $9,124 thousand in 2026, compared to net cash used for investing activities of - $41,528 thousand in 2025. Net cash used for financing activities was - $4,206 thousand for Q2 2026, compared to - $4,891 thousand for Q2 2025. For the six-month period, net cash used for financing activities was - $9,140 thousand in 2026, compared to - $10,055 thousand in 2025.

Outlook / Guidance

Marten Transport, Ltd. noted sequential profitability improvement across its truckload, dedicated, and brokerage operations. The freight market is tightening due to structural changes, including increased federal enforcement and the U.S. Supreme Court’s Montgomery broker-liability ruling, which are reducing freight capacity. Marten Transport, Ltd. is capitalizing on this market recovery by securing higher pricing for its premium services and enhancing freight quality, while maintaining focus on safety, operating efficiencies, and cost controls with a debt-free balance sheet.