Marten’s fourth quarter was better than the third

Core Viewpoint - Marten Transport reported a sequential improvement in profitability for the fourth quarter of 2025, despite weaker net income and operating ratios compared to the same period in 2024 [1][5]. Financial Performance - The company achieved a net income of 5 cents per share in the fourth quarter, an increase from 3 cents per share in the third quarter, but down from 7 cents per share in the fourth quarter of 2024 [2]. - Fourth quarter revenue decreased to $210.1 million from $220.4 million in the third quarter, reflecting an 8.6% year-on-year decline in revenue [3][5]. Cost Control - Cost control measures contributed to improved profitability, with salaries, wages, and benefits decreasing to $75.7 million from $79 million, and purchased transportation costs dropping to $36 million from $42.3 million sequentially [3]. - Year-on-year, salaries, wages, and benefits were down 8.6%, and purchased transportation costs decreased by 8.1% [4]. Operating Ratios - The operating ratio (OR) for the Truckload segment improved from 102.2% in the third quarter to 99.1% in the fourth quarter, turning a loss of over $2 million into a profit of $783,000 [6]. - However, the Dedicated segment's OR slightly deteriorated from 94% to 94.6%, and the brokerage segment's OR widened from 95.9% to 98% [7]. Segment Performance - Dedicated operating income fell from $3.42 million in the third quarter to just over $3 million in the fourth quarter [8]. - Brokerage operating income decreased from $1.6 million in the third quarter to $774,000 in the fourth quarter [8].