Marten Transport Shares Fall 7% as Fuel and Insurance Costs Weigh on Q3 Results

Shares of Marten Transport (NASDAQ: MRTN) dropped 7% in midday trading Friday after the refrigerated carrier reported third-quarter earnings that missed consensus estimates, pressured by rising fuel and health insurance costs despite improving supply-demand fundamentals. The Mondovi, Wisconsin-based company posted net income of $2.9 million, or 4 cents per share, a penny above the year-ago quarter but 2 cents below the consensus estimate. Higher fuel and payroll costs, including driver pay increases, dealt a $3.7-million hit to net income, or 4.5 cents per share, only partially offset by gains on equipment sales. Consolidated revenue rose 1% year over year to $223 million, though the 2025 sale of its intermodal unit to Hub Group (NASDAQ: HUBG) created a $9.9-million revenue headwind. One-way truckload revenue increased 12% to $117 million, with revenue per tractor per week up 15% on a 9% smaller fleet. The dedicated segment saw revenue decline 9% as truck count fell 11%. CEO Randy Marten cited tighter freight markets from enhanced enforcement of driver regulations. MRTN shares are down 37% since a mid-June peak.