Exhibit 99.1

MARTEN TRANSPORT ANNOUNCES THIRD QUARTER RESULTS

 Reports highest operating revenue and operating income for any quarter in Company history

MONDOVI, Wis., October 17, 2019 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) today reported the highest operating revenue and operating income for any quarter in its history, with the previous record for each set in this year’s second quarter. For the third quarter ended September 30, 2019, net income improved 8.7% to $16.6 million, or 30 cents per diluted share, from $15.3 million, or 28 cents per diluted share, for the third quarter of 2018. For the first nine months of 2019, net income improved 15.4% to $45.3 million, or 82 cents per diluted share, from $39.3 million, or 71 cents per diluted share, for the first nine months of 2018. Earnings for the 2019 quarter include an additional income tax benefit of $1.4 million, or 2.5 cents per diluted share, while the 2018 quarter’s earnings include an additional income tax benefit of $493,000, or one cent per diluted share, net of related operating expenses.

Operating Results Comparison
Net income and diluted earnings per common share used to calculate the TTM percentage change below exclude a $56.5 million deferred income tax benefit in the fourth quarter of 2017.
	Percentage			Percentage			Percentage
	Change			Change			Change
	Three Months			Nine Months			Trailing Twelve
	Ended			Ended			Months Ended
	September 30,			September 30,			September 30,
	2019 vs. 2018			2019 vs. 2018			2019 vs. 2018
Operating revenue		7.7	%		7.3	%		8.3	%
Operating income		5.5	%		13.6	%		18.6	%
Net income		8.7	%		15.4	%		27.5	%
Diluted earnings per common share		8.8	%		15.5	%		27.6	%

Operating revenue improved 7.7% to a record $215.0 million for the third quarter of 2019 from $199.6 million for the third quarter of 2018, and improved 7.3% to $626.1 million for the first nine months of 2019 from $583.6 million for the first nine months of 2018. For the trailing twelve months ended September 30, 2019, operating revenue improved 8.3% to $830.0 million from $766.4 million for the similar period ended September 30, 2018. Excluding fuel surcharges, operating revenue improved 10.0% to $188.9 million for the 2019 quarter from $171.8 million for the 2018 quarter, and improved 8.9% to $549.7 million for the first nine months of 2019 from $504.9 million for the first nine months of 2018. Fuel surcharge revenue decreased to $26.1 million for the 2019 quarter from $27.9 million for the 2018 quarter, and decreased to $76.4 million for the first nine months of 2019 from $78.8 million for the first nine months of 2018.

Operating income improved 5.5% to a record $20.0 million for the third quarter of 2019 from $19.0 million for the third quarter of 2018, and improved 13.6% to $57.7 million for the first nine months of 2019 from $50.8 million for the first nine months of 2018. For the trailing twelve months ended September 30, 2019, operating income improved 18.6% to $77.2 million from $65.1 million for the similar period ended September 30, 2018.

Operating expenses as a percentage of operating revenue were 90.7% for the third quarter of 2019, compared with 90.5% for the third quarter of 2018. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, were 89.4% for the 2019 quarter, compared with 88.9% for the 2018 quarter.

Operating expenses as a percentage of operating revenue improved to 90.8% for the first nine months of 2019 from 91.3% for the first nine months of 2018. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 89.5% from 89.9%.

Operating expenses as a percentage of operating revenue improved to 90.7% for the trailing twelve months ended September 30, 2019 from 91.5% for the similar period ended September 30, 2018. Operating expenses as a percentage of operating revenue, with both amounts net of fuel surcharges, improved to 89.4% from 90.3%.

Chairman and Chief Executive Officer Randolph L. Marten said, “We earned the highest operating revenue and operating income for any quarter in our history, exceeding the previous record for each we produced in this year’s second quarter. Our talented people consistently deliver this profitable growth through the disciplined execution of our unique multifaceted business model across our diverse customer base - and overcame the negative impact of the recent hurricane and flooding on our Southeast and Texas operations during the third quarter. We added 43 Truckload and 41 Dedicated tractors this quarter, increasing our year-to-date growth to 149 Truckload and 230 Dedicated tractors, a combined 14.2% fleet growth since the beginning of the year. We expect to continue expanding our capacity to service our customers by offering the best jobs for the industry’s best drivers.”

Marten Transport, with headquarters in Mondovi, Wis., is a multifaceted business offering a network of truck-based transportation capabilities across the Company’s five distinct business platforms - Truckload, Dedicated, Intermodal, Brokerage and MRTN de Mexico. Marten is one of the leading temperature-sensitive truckload carriers in the United States, specializing in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Marten’s dry freight services are expanding, with 1,718 dry vans operating as of September 30, 2019. The Company offers service in the United States, Canada and Mexico, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include a discussion of the Company’s prospects for future growth and by their nature involve substantial risks and uncertainties, and actual results may differ materially from those expressed in such forward-looking statements. Important factors known to the Company that could cause actual results to differ materially from those discussed in the forward-looking statements are discussed in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS: Tim Kohl, President, and Jim Hinnendael, Executive Vice President and Chief Financial Officer, of Marten Transport, Ltd., 715-926-4216.

MARTEN TRANSPORT, LTD.

CONSOLIDATED CONDENSED BALANCE SHEETS

	September 30,			December 31,
(In thousands, except share information)	2019			2018
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	40,480		$	56,763
Receivables:
Trade, net		85,149			83,033
Other		3,694			3,808
Prepaid expenses and other		18,576			19,924
Total current assets		147,899			163,528
Property and equipment:
Revenue equipment, buildings and land, office equipment and other		891,326			816,430
Accumulated depreciation		(261,474	)		(228,200	)
Net property and equipment		629,852			588,230
Other noncurrent assets		3,204			2,146
Total assets	$	780,955		$	753,904
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	27,777		$	15,704
Insurance and claims accruals		30,647			28,103
Accrued and other current liabilities		26,506			28,166
Total current liabilities		84,930			71,973
Deferred income taxes		112,454			105,977
Noncurrent operating lease liabilities		714			-
Total liabilities		198,098			177,950
Stockholders’ equity:
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock, $.01 par value per share; 192,000,000 shares authorized; 54,687,065 shares at September 30, 2019, and 54,466,691 shares at December 31, 2018, issued and outstanding		547			545
Additional paid-in capital		78,840			76,814
Retained earnings		503,470			498,595
Total stockholders’ equity		582,857			575,954
Total liabilities and stockholders’ equity	$	780,955		$	753,904

MARTEN TRANSPORT, LTD.

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
(In thousands, except per share information)	2019			2018			2019			2018
Operating revenue	$	214,973		$	199,649		$	626,086		$	583,633
Operating expenses (income):
Salaries, wages and benefits		69,312			64,051			201,449			186,123
Purchased transportation		40,435			35,867			117,352			105,941
Fuel and fuel taxes		31,275			31,658			89,904			92,444
Supplies and maintenance		12,116			10,574			34,739			31,261
Depreciation		24,290			22,272			70,295			66,280
Operating taxes and licenses		2,651			2,404			7,422			7,055
Insurance and claims		9,618			8,567			29,355			27,798
Communications and utilities		1,901			1,663			5,801			4,993
Gain on disposition of revenue equipment		(2,559	)		(1,835	)		(5,337	)		(5,206	)
Other		5,900			5,435			17,395			16,134
Total operating expenses		194,939			180,656			568,375			532,823
Operating income		20,034			18,993			57,711			50,810
Other		(255	)		(120	)		(928	)		(447	)
Income before income taxes		20,289			19,113			58,639			51,257
Income taxes expense		3,702			3,856			13,316			11,967
Net income	$	16,587		$	15,257		$	45,323		$	39,290
Basic earnings per common share	$	0.30		$	0.28		$	0.83		$	0.72
Diluted earnings per common share	$	0.30		$	0.28		$	0.82		$	0.71
Dividends declared per common share	$	0.68		$	0.025		$	0.74		$	0.075

MARTEN TRANSPORT, LTD.

SEGMENT INFORMATION

(Unaudited)

							Dollar			Percentage
							Change			Change
	Three Months						Three Months			Three Months
	Ended						Ended			Ended
	September 30,						September 30,			September 30,
(Dollars in thousands)	2019			2018			2019 vs. 2018			2019 vs. 2018
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	82,931		$	80,563		$	2,368			2.9	%
Truckload fuel surcharge revenue		12,056			13,357			(1,301	)		(9.7	)
Total Truckload revenue		94,987			93,920			1,067			1.1
Dedicated revenue, net of fuel surcharge revenue		59,281			48,500			10,781			22.2
Dedicated fuel surcharge revenue		11,053			10,291			762			7.4
Total Dedicated revenue		70,334			58,791			11,543			19.6
Intermodal revenue, net of fuel surcharge revenue		19,336			21,735			(2,399	)		(11.0	)
Intermodal fuel surcharge revenue		2,961			4,204			(1,243	)		(29.6	)
Total Intermodal revenue		22,297			25,939			(3,642	)		(14.0	)
Brokerage revenue		27,355			20,999			6,356			30.3
Total operating revenue	$	214,973		$	199,649		$	15,324			7.7	%
Operating income:
Truckload	$	6,956		$	10,026		$	(3,070	)		(30.6	)%
Dedicated		9,920			5,249			4,671			89.0
Intermodal		1,210			2,507			(1,297	)		(51.7	)
Brokerage		1,948			1,211			737			60.9
Total operating income	$	20,034		$	18,993		$	1,041			5.5	%
Operating ratio:
Truckload		92.7	%		89.3	%
Dedicated		85.9			91.1
Intermodal		94.6			90.3
Brokerage		92.9			94.2
Consolidated operating ratio		90.7	%		90.5	%

MARTEN TRANSPORT, LTD.

SEGMENT INFORMATION

(Unaudited)

							Dollar			Percentage
							Change			Change
	Nine Months						Nine Months			Nine Months
	Ended						Ended			Ended
	September 30,						September 30,			September 30,
(Dollars in thousands)	2019			2018			2019 vs. 2018			2019 vs. 2018
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	246,313		$	241,304		$	5,009			2.1	%
Truckload fuel surcharge revenue		36,418			40,037			(3,619	)		(9.0	)
Total Truckload revenue		282,731			281,341			1,390			0.5
Dedicated revenue, net of fuel surcharge revenue		164,365			138,096			26,269			19.0
Dedicated fuel surcharge revenue		30,704			26,499			4,205			15.9
Total Dedicated revenue		195,069			164,595			30,474			18.5
Intermodal revenue, net of fuel surcharge revenue		56,618			63,834			(7,216	)		(11.3	)
Intermodal fuel surcharge revenue		9,253			12,227			(2,974	)		(24.3	)
Total Intermodal revenue		65,871			76,061			(10,190	)		(13.4	)
Brokerage revenue		82,415			61,636			20,779			33.7
Total operating revenue	$	626,086		$	583,633		$	42,453			7.3	%
Operating income:
Truckload	$	22,556		$	25,530		$	(2,974	)		(11.6	)%
Dedicated		23,135			13,321			9,814			73.7
Intermodal		5,140			7,997			(2,857	)		(35.7	)
Brokerage		6,880			3,962			2,918			73.6
Total operating income	$	57,711		$	50,810		$	6,901			13.6	%
Operating ratio:
Truckload		92.0	%		90.9	%
Dedicated		88.1			91.9
Intermodal		92.2			89.5
Brokerage		91.7			93.6
Consolidated operating ratio		90.8	%		91.3	%

MARTEN TRANSPORT, LTD.

OPERATING STATISTICS

(Unaudited)

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2019			2018			2019			2018
Truckload Segment:
Revenue (in thousands)	$	94,987		$	93,920		$	282,731		$	281,341
Average revenue, net of fuel surcharges, per tractor per week(1)	$	3,723		$	3,925		$	3,818		$	3,797
Average tractors(1)		1,695			1,561			1,654			1,629
Average miles per trip		545			564			545			578
Non-revenue miles percentage(2)		11.8	%		10.4	%		11.4	%		8.9	%
Total miles (in thousands)		39,326			37,259			115,639			117,343
Dedicated Segment:
Revenue (in thousands)	$	70,334		$	58,791		$	195,069		$	164,595
Average revenue, net of fuel surcharges, per tractor per week(1)	$	3,392		$	3,287		$	3,412		$	3,279
Average tractors(1)		1,329			1,123			1,235			1,080
Average miles per trip		312			317			316			305
Non-revenue miles percentage(2)		0.7	%		0.6	%		0.7	%		0.8	%
Total miles (in thousands)		28,859			24,362			79,700			69,244
Intermodal Segment:
Revenue (in thousands)	$	22,297		$	25,939		$	65,871		$	76,061
Loads		8,897			10,573			26,578			31,932
Average tractors		87			89			85			87
Brokerage Segment:
Revenue (in thousands)	$	27,355		$	20,999		$	82,415		$	61,636
Loads		16,059			12,781			47,510			36,790
At September 30, 2019 and September 30, 2018:
Total tractors(1)		3,137			2,751
Average age of company tractors (in years)		1.8			1.6
Total trailers		5,562			5,397
Average age of company trailers (in years)		2.6			2.6
Ratio of trailers to tractors(1)		1.8			2.0

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
(In thousands)	2019			2018			2019			2018
Net cash provided by operating activities	$	46,101		$	44,722		$	119,610		$	112,097
Net cash (used for) investing activities		(51,900	)		(29,665	)		(96,078	)		(88,842	)
Net cash (used for) financing activities		(36,513	)		(1,321	)		(39,815	)		(3,307	)
Weighted average shares outstanding:
Basic		54,655			54,661			54,608			54,615
Diluted		55,134			55,194			55,078			55,151

(1)	Includes tractors driven by both company-employed drivers and independent contractors. Independent contractors provided 75 and 50 tractors as of September 30, 2019 and 2018, respectively.
(2)	Represents the percentage of miles for which the company is not compensated.