MARTEN TRANSPORT LTD

Marten Transport, Ltd. (NASDAQ: MRTN) operates as a leading temperature-sensitive truckload carrier in the United States, providing time and temperature-controlled transportation and distribution services for food and consumer packaged goods. The company maintains its website at www.marten.com.

The company generates revenue through five distinct business platforms: Temperature-Sensitive and Dry Truckload, Dedicated, Brokerage, and MRTN de Mexico. In 2025, Marten Transport generated $883.7 million in operating revenue, with approximately 59 percent derived from temperature-sensitive products and 41 percent from dry freight hauling. The company sold its Intermodal operations effective September 30, 2025.

Marten Transport operates a fleet of 2,654 tractors, including 2,577 company-owned units and 77 independent contractor tractors, with an average age of approximately 2.3 years. The company maintains 5,107 trailers consisting of 2,863 refrigerated units and 2,244 dry vans, with an average age of 4.9 years. The company's average length of haul was 405 miles in 2025, and it achieved a non-revenue mile percentage of 7.3 percent.

As of December 31, 2025, Marten Transport employed 3,502 employees, comprising 2,660 drivers, 275 mechanics and maintenance personnel, and 567 support staff. The company also contracted with 77 independent contractors. The company operates throughout the United States and in parts of Mexico and Canada, with primary medium-to-long-haul traffic lanes connecting the Midwest to the West Coast, Southwest, Southeast, and East Coast, as well as California to the Pacific Northwest.

Marten Transport's largest customer was Walmart in 2025. The company's top 30 customers accounted for approximately 71 percent of revenue excluding fuel surcharges, while the top ten customers represented 50 percent of revenue. The company emphasizes service quality, offering up to 99 percent on-time performance and delivery within narrow time windows required for perishable commodities. The company was organized under Wisconsin law in 1970 as a successor to a sole proprietorship founded in 1946 and reincorporated under Delaware law in 1988.