Marten Transport Ltd 8-K, filed Oct 22, 2026

Marten Transport Ltd (MRTN)

8-K 2026-10-22 For: 2026-10-22

Added on October 22, 2026

About this 8-K

Marten Transport Ltd filed this 8-K on October 22, 2026.

Marten Transport reported third-quarter net income rose 30.7% to $2.9 million, or 4 cents per diluted share, from $2.2 million and 3 cents, while operating revenue increased to $223.2 million from $220.5 million. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Delaware		0-15010		39-1140809
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

129 Marten Street Mondovi, Wisconsin		54755
(Address of principal executive offices)		(Zip Code)

Title of each class:	Trading symbol:	Name of each exchange on which registered:
COMMON STOCK, PAR VALUE $.01 PER SHARE	MRTN	THE NASDAQ STOCK MARKET LLC (NASDAQ GLOBAL SELECT MARKET)

Exhibit No.	Description

99.1	Press Release dated October 22, 2026 (included herewith).
99.2	Investor presentation slides used by Marten Transport, Ltd. (included herewith).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

	MARTEN TRANSPORT, LTD.

Dated: October 22, 2026	By:	/s/ James J. Hinnendael
		James J. Hinnendael
		Its: Executive Vice President and
		Chief Financial Officer

	September 30,			December 31,
(In thousands, except share information)	2026			2025
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	91,503		$	43,278
Escrow deposit		5,000			5,000
Receivables:
Trade, net		96,911			85,807
Other		8,403			13,084
Prepaid expenses and other		22,574			24,532
Total current assets		224,391			171,701

Property and equipment:
Revenue equipment, buildings and land, office equipment and other		1,086,781			1,128,932
Accumulated depreciation		(356,617	)		(352,426	)
Net property and equipment		730,164			776,506
Other noncurrent assets		1,411			1,560
Total assets	$	955,966		$	949,767

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	35,784		$	28,769
Insurance and claims accruals		42,620			43,700
Accrued and other current liabilities		23,038			19,763
Total current liabilities		101,442			92,232
Deferred income taxes		90,278			89,716
Noncurrent operating lease liabilities		82			194
Total liabilities		191,802			182,142

Stockholders’ equity:
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock, $.01 par value per share; 192,000,000 shares authorized; 81,661,669 shares at September 30, 2026, and 81,542,174 shares at December 31, 2025, issued and outstanding		817			815
Additional paid-in capital		56,364			54,762
Retained earnings		706,983			712,048
Total stockholders’ equity		764,164			767,625
Total liabilities and stockholders’ equity	$	955,966		$	949,767

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
(In thousands, except per share information)	2026			2025			2026			2025

Operating revenue	$	223,231		$	220,470		$	650,300		$	673,544

Operating expenses (income):
Salaries, wages and benefits		72,970			78,972			217,627			236,342
Purchased transportation		37,917			42,284			110,204			123,063
Fuel and fuel taxes		49,302			33,526			128,976			99,234
Supplies and maintenance		15,639			15,585			46,085			46,704
Depreciation		24,458			25,447			74,226			80,224
Operating taxes and licenses		2,252			2,423			6,770			7,291
Insurance and claims		11,153			11,382			33,704			40,611
Communications and utilities		2,118			2,093			6,375			6,536
Gain on disposition of revenue equipment		(3,027	)		(1,903	)		(6,120	)		(8,750	)
Other		7,385			7,923			20,881			23,958

Total operating expenses		220,167			217,732			638,728			655,213

Operating income		3,064			2,738			11,572			18,331

Other		(882	)		(213	)		(2,060	)		(998	)

Income before income taxes		3,946			2,951			13,632			19,329

Income taxes expense		1,037			725			4,002			5,582

Net income	$	2,909		$	2,226		$	9,630		$	13,747

Basic earnings per common share	$	0.04		$	0.03		$	0.12		$	0.17

Diluted earnings per common share	$	0.04		$	0.03		$	0.12		$	0.17

Dividends declared per common share	$	0.06		$	0.06		$	0.18		$	0.18

							Dollar			Percentage
							Change			Change
	Three Months						Three Months			Three Months
	Ended						Ended			Ended
	September 30,						September 30,			September 30,
(Dollars in thousands)	2026			2025			2026 vs. 2025			2026 vs. 2025
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	94,053		$	90,138		$	3,915			4.3	%
Truckload fuel surcharge revenue		23,251			14,691			8,560			58.3
Total Truckload revenue		117,304			104,829			12,475			11.9

Dedicated revenue, net of fuel surcharge revenue		51,442			56,675			(5,233	)		(9.2	)
Dedicated fuel surcharge revenue		15,748			10,335			5,413			52.4
Total Dedicated revenue		67,190			67,010			180			0.3

Brokerage revenue		38,737			38,780			(43	)		(0.1	)

Intermodal revenue, net of fuel surcharge revenue		-			8,369			(8,369	)		(100.0	)
Intermodal fuel surcharge revenue		-			1,482			(1,482	)		(100.0	)
Total Intermodal revenue		-			9,851			(9,851	)		(100.0	)

Total operating revenue	$	223,231		$	220,470		$	2,761			1.3	%

Operating income/(loss):
Truckload	$	(192	)	$	(2,002	)	$	1,810			90.4	%
Dedicated		1,248			3,426			(2,178	)		(63.6	)
Brokerage		2,008			1,607			401			25.0
Intermodal		-			(293	)		293			100.0
Total operating income	$	3,064		$	2,738		$	326			11.9	%

Operating ratio:
Truckload		100.2	%		101.9	%
Dedicated		98.1			94.9
Brokerage		94.8			95.9
Intermodal		-			103.0
Consolidated operating ratio		98.6	%		98.8	%

Operating ratio, net of fuel surcharges:
Truckload		100.2	%		102.2	%
Dedicated		97.6			94.0
Brokerage		94.8			95.9
Intermodal		-			103.5
Consolidated operating ratio, net of fuel surcharges		98.3	%		98.6	%

	Nine Months Ended September 30,						Dollar Change Nine Months Ended September 30,			Percentage Change Nine Months Ended September 30,
(Dollars in thousands)	2026			2025			2026 vs. 2025			2026 vs. 2025
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	276,084		$	272,728		$	3,356			1.2	%
Truckload fuel surcharge revenue		62,930			42,978			19,952			46.4
Total Truckload revenue		339,014			315,706			23,308			7.4

Dedicated revenue, net of fuel surcharge revenue		157,194			180,418			(23,224	)		(12.9	)
Dedicated fuel surcharge revenue		40,755			32,091			8,664			27.0
Total Dedicated revenue		197,949			212,509			(14,560	)		(6.9	)

Brokerage revenue		113,337			111,658			1,679			1.5

Intermodal revenue, net of fuel surcharge revenue		-			28,730			(28,730	)		(100.0	)
Intermodal fuel surcharge revenue		-			4,941			(4,941	)		(100.0	)
Total Intermodal revenue		-			33,671			(33,671	)		(100.0	)

Total operating revenue	$	650,300		$	673,544		$	(23,244	)		(3.5	)%

Operating income/(loss):
Truckload	$	1,281		$	42		$	1,239			2,950.0	%
Dedicated		5,310			13,709			(8,399	)		(61.3	)
Brokerage		4,981			6,463			(1,482	)		(22.9	)
Intermodal		-			(1,883	)		1,883			100.0
Total operating income	$	11,572		$	18,331		$	(6,759	)		(36.9	)%

Operating ratio:
Truckload		99.6	%		100.0	%
Dedicated		97.3			93.5
Brokerage		95.6			94.2
Intermodal		-			105.6
Consolidated operating ratio		98.2	%		97.3	%

Operating ratio, net of fuel surcharges:
Truckload		99.5	%		100.0	%
Dedicated		96.6			92.4
Brokerage		95.6			94.2
Intermodal		-			106.6
Consolidated operating ratio, net of fuel surcharges		97.9	%		96.9	%

(1)	Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 77 and 83 tractors as of September 30, 2026 and 2025, respectively.

(2)	Represents the percentage of miles for which the company is not compensated.

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2026			2025			2026			2025
Truckload Segment:
Revenue (in thousands)	$	117,304		$	104,829		$	339,014		$	315,706
Average revenue, net of fuel surcharges, per tractor per week⁽¹⁾	$	4,749		$	4,129		$	4,588		$	4,178
Average tractors⁽¹⁾		1,507			1,661			1,543			1,674
Average miles per trip		506			508			511			523
Non-revenue miles percentage⁽²⁾		10.7	%		11.0	%		10.7	%		11.1	%
Total miles (in thousands)		34,825			38,081			108,587			115,575

Dedicated Segment:
Revenue (in thousands)	$	67,190		$	67,010		$	197,949		$	212,509
Average revenue, net of fuel surcharges, per tractor per week⁽¹⁾	$	3,862		$	3,776		$	3,896		$	3,811
Average tractors⁽¹⁾		1,013			1,142			1,035			1,214
Average miles per trip		292			292			295			300
Non-revenue miles percentage⁽²⁾		1.1	%		1.1	%		1.1	%		1.3	%
Total miles (in thousands)		21,559			23,206			65,960			73,574

Brokerage Segment:
Revenue (in thousands)	$	38,737		$	38,780		$	113,337		$	111,658
Loads		22,141			25,940			70,613			70,450

Intermodal Segment:
Revenue (in thousands)	$	-		$	9,851		$	-		$	33,671
Loads		-			2,956			-			10,168
Average tractors		-			61			-			72

At September 30, 2026 and September 30, 2025:
Total tractors⁽¹⁾		2,501			2,823
Average age of company tractors (in years)		2.5			2.2
Total trailers		5,065			5,165
Average age of company trailers (in years)		5.3			4.9
Ratio of trailers to tractors⁽¹⁾		2.0			1.8

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
(In thousands)	2026			2025			2026			2025

Net cash provided by operating activities	$	22,567		$	18,538		$	83,285		$	87,906
Net cash provided by/(used for) investing activities		(30,144	)		5,786			(21,020	)		(35,742	)
Net cash used for financing activities		(4,900	)		(4,891	)		(14,040	)		(14,946	)

Weighted average shares outstanding:
Basic		81,662			81,520			81,623			81,508
Diluted		81,664			81,527			81,625			81,516