Marten Transport(US:MRTN)2026-01-27 21:10Financial Performance - Net income for Q4 2025 was $3.7 million, or 5 cents per diluted share, down from $5.6 million, or 7 cents per diluted share in Q4 2024, but improved 66.1% sequentially from Q3 2025 [1][3] - Operating revenue for Q4 2025 was $210.1 million, a decrease from $230.4 million in Q4 2024; excluding fuel surcharges, it was $185.5 million compared to $202.9 million in the previous year [2][14] - For the full year 2025, operating revenue was $883.7 million, down from $963.7 million in 2024; excluding fuel surcharges, it was $779.0 million compared to $840.0 million in 2024 [3][14] - Operating income for Q4 2025 was $4.6 million, down from $6.7 million in Q4 2024, but improved 67.3% from Q3 2025 [4][14] - The company reported a full-year operating income of $22.9 million for 2025, down from $33.2 million in 2024 [5][14] - Total operating revenue for Q4 2025 decreased by 8.8% to $210,108,000 compared to $230,432,000 in Q4 2024 [16] - Total operating income for Q4 2025 was $4,582,000, a decline of 31.9% from $6,727,000 in Q4 2024 [16] - Total operating revenue for the year 2025 was $883,652,000, an 8.3% decrease from $963,708,000 in 2024 [18] Revenue Breakdown - Truckload revenue, net of fuel surcharge, fell by 2.0% to $91,201,000 from $93,106,000 year-over-year [16] - Dedicated revenue, net of fuel surcharge, decreased by 13.7% to $56,086,000 compared to $64,997,000 in the previous year [16] - Intermodal revenue dropped to zero, down 100% from $13,209,000 in Q4 2024 [16] - Brokerage revenue increased by 13.8% to $38,168,000 from $33,541,000 year-over-year [16] Operating Efficiency - Operating expenses as a percentage of operating revenue were 97.8% for Q4 2025, compared to 97.1% for Q4 2024 [5][6] - The consolidated operating ratio for Q4 2025 was 97.8%, compared to 97.1% in Q4 2024 [16] - Average revenue per truckload tractor per week was $4,200 in Q4 2025, slightly down from $4,227 in Q4 2024 [20] Strategic Focus - The company emphasized a focus on safe, premium service and data-driven operating efficiencies to mitigate the impact of the freight market recession [7] - Marten Transport's balance sheet remains strong and debt-free, allowing continued investment in technology and fleet modernization [7] - The company expects positive impacts from recent immigration enforcement efforts on growth opportunities in the freight market [9] - Marten Transport operates across five distinct business platforms, specializing in temperature-sensitive and dry truckload transportation [8] Cash Flow - Total cash provided by operating activities for the year ended December 31, 2025, was $93,488,000, down from $134,814,000 in 2024 [20]