Regardless of the size carrier you are, it is important to understand what is happening in all segments of logistics.
Drove More
Marten Transport drove more miles in Q1 2023 compared to Q1 2022 but reported significantly worse performance in its truckload segment due to plummeting truckload rates.Â
Total truckload revenue net of fuel rose to $102.3 million from $95.1 million in Q1 2022, and total miles in truckload increased to 38.3 million from 35.3 million.Â
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Operating Ratio Down
Operating ratio (OR) deteriorated to 91.7% from 86.2%. – Q1 ’23 vs Q1 ’22
However, the truckload segment’s operating ratio (OR) deteriorated to 91.7% from 86.2%, and operating income declined to $10 million from $15.6 million. The dedicated division showed better results, with improved OR and increased operating income. The intermodal group suffered the most, with operating income declining to $787,000 from $5 million, and OR dropping to 97.2% from 84.1%. The brokerage segment’s bottom line showed little change.
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