Marten Transport (MRTN) investor relations material

Executive summary

• Sequential profitability improvement achieved in truckload, dedicated, and brokerage operations in Q2 2026, reflecting a rebound from the prolonged freight market recession.

• Net income for Q2 2026 was $5.3 million (7 cents per diluted share), down from $7.2 million (9 cents) in Q2 2025, but up 286.3% sequentially from Q1 2026.

• Operating revenue for the first six months of 2026 decreased 5.7% year-over-year to $427.1 million, with net income down 41.7% to $6.7 million.

• Structural changes in the freight market, including stricter federal enforcement and regulatory actions, have tightened capacity and improved pricing power.

• The company completed the sale of its Intermodal business in September 2025, impacting segment results.

Financial highlights

• Q2 2026 operating revenue decreased 8.8% year-over-year; net of fuel surcharges, revenue declined 9.5%.

• Operating income dropped 72.8% year-over-year in Q2 2026; for the first six months, operating income declined 45.4% to $8.5 million.

• Net income fell 68.1% year-over-year in Q2 2026.

• Fuel surcharge revenue increased to $64.7 million for the first half and $38.3 million in Q2 2026.

• Cash and cash equivalents plus escrow deposit totaled $109.0 million at June 30, 2026, with no long-term debt.

Outlook and guidance

• Freight market recovery is underway, with expectations for improved profitability as market conditions strengthen.

• Capital expenditures, net of dispositions, are estimated at $109 million for the remainder of 2026.

• Management expects liquidity to be sufficient for at least the next twelve months, with no significant constraints anticipated.

• Quarterly cash dividends of $0.06 per share are expected to continue.

• Focus remains on premium service, operational efficiency, and aggressive cost controls, supported by a strong, debt-free balance sheet.