Marten Transport responded to market challenges and opportunities in Q3 by using a 14% gain in truckload rates year over year to help stem an operating loss in that segment.
Its truckload segment reduced a Q3 2025 operating loss of $2 million to an operating loss of $192,000 in its most recent quarter, and operating revenue, excluding fuel surcharge, rose 4% to $94 million in Q3 2026 YoY. Better rates significantly helped the segment.
“We are securing higher pricing from our customers for our premium services while enhancing freight quality across our network within these early stages of the freight market upcycle,” CEO Randolph Marten said in the earnings announcement. “Our Truckload average rate per total mile, net of fuel surcharges, increased 14.1% over the third quarter of 2025.”
Less freight activity overall for the carrier translated into a reduced need for drivers, and Marten reduced its average fleet size in truckload by 154 tractors down to 1,507. Similarly in its dedicated segment, the carrier dropped its fleet average by 129 tractors to 1,013.
Operating income in Marten Transport’s dedicated segment fell sharply in Q3 2026, dropping nearly 64% from $3.4 million a year ago to less than $1.3 million. That came as operating revenue, excluding fuel surcharge, in the segment dropped 9% to $51.4 million.
While fuel surcharges offset fuel costs in dedicated, Q3 net fuel costs for the company overall increased by $3.5 million compared to average quarterly amounts in H1, and health insurance costs also increased significantly, the carrier reported.
The company also noted that changes in surcharge amounts based on the cost of diesel also create pressure due to a timing lag, given a weekly adjustment process.
Despite setbacks, Marten noted his company’s “strong, debt-free balance sheet provides the financial flexibility to continue investing” in technology and modernizing its fleet while pursuing organic growth.
