MRTN reports Q2 revenue per tractor up 9% as regulatory crackdowns reduce freight capacity and lift pricing power.
Marten Transport reported a 9% year-over-year increase in revenue per tractor for its non-dedicated truckload fleet, reaching $116 million in Q2. The gain reflects tighter capacity and improved freight selection, allowing the company to raise rates amid a regulatory crackdown on noncompliant drivers. Revenue per loaded mile rose 6% to $2.81, while the operating ratio improved by 10 basis points to 97.4% excluding fuel.
The dedicated segment struggled with a 17% drop in truck count, leading to a 14% decline in revenue ex-fuel. Revenue per loaded mile fell 5% to $2.36, and the operating ratio worsened by 430 basis points to 95.4%. Brokerage revenue remained flat at $40 million, with a modest 2% increase in loads offset by other factors.
CEO Randy Marten noted the freight market is breaking out of its longest recession, driven by reduced capacity and stronger demand. The company has managed truck counts to boost asset utilization, a trend seen across large carriers.