Truckload segment at Marten again a plus 100% OR in third quarter

Core Insights - Marten Transport's Truckload segment experienced a negative operating ratio for the third time in five quarters, contributing less than 48% to the company's earnings in Q3 [1][3] - The company reported a decline in average revenue per tractor and total miles, indicating weaker performance in the Truckload segment [3] - Improvements in the Dedicated segment helped maintain overall profitability, with a better operating ratio compared to the previous year [4] Financial Performance - Marten's net income fell by 40.7% to $2.226 million in Q3, with a year-to-date decline of 13.4% to $13.74 million [7] - The overall operating ratio net of fuel for the quarter was 98.6%, slightly worse than 97.9% a year ago [7] Segment Analysis - The Truckload segment's operating ratio net of fuel was the worst in five quarters, with figures of 100.2%, 98%, 100.3%, 97.5%, and 102.2% over the last five quarters [2][3] - The Dedicated segment recorded an operating ratio of 94%, an improvement from 95.1% a year earlier, despite a drop in total miles [4] - Marten's intermodal division was sold to Hub Group, with the segment's operating ratio improving from 112.5% to 103.5% year-over-year [5][6] Revenue Insights - The intermodal segment generated $9.85 million in revenue for Q3, accounting for about 4% of total revenue [6] - The brokerage division's operating ratio weakened to 95.9%, with an 8.3% decrease in the number of loads handled [6]