Tighter trucking capacity benefited Marten Transport in Q2, which achieved a 97.9% operating ratio for the quarter in its truckload segment.
That compared to an OR of 97.8% year over year and 100.9% in Q1, according to earnings releases.
Chief Executive Officer Randolph Marten said the Wisconsin-based carrier was pleased with the improved profitability from Q1 to Q2 across its segments, which also include dedicated and brokerage.
“The freight market has sharply tightened in recent months and is now breaking out from the longest freight market recession on record,” Marten said.
Echoing other trucking leaders’ earnings commentary, the company noted how federal changes across areas, such as English language proficiency, non-domiciled CDLs and carrier registrations, are contributing to a structural turnaround in the market recovery.
Amid truckload’s clear improvement from Q1 to Q2, the dedicated segment’s progress was less pronounced.
In its dedicated segment, the carrier lowered its average tractor count to 1,033, down from 1,058 in Q1 and 1,239 YoY. Average revenue per truck per week, excluding fuel surcharge, improved to $3,917, a 2.9% increase compared to a year ago.
At the same time, customers are showing more interest in securing dedicated and truckload capacity, the carrier said in an earnings presentation.
“We are successfully securing higher pricing from our customers for our premium services and enhancing the quality of our freight within this improving freight market,” Marten added.
