PAM Transportation

Pamt Corp. CEO resigns for family reasons amid mounting losses

Pamt Corp., formerly Pam Transportation Services, announced that President and CEO Joe Vitiritto will step down next month for family reasons.

The announcement follows the Tontitown, Arkansas-based company’s first-quarter net loss in which its truckload segment booked a sixth consecutive operating loss – a 110.9% operating ratio (inverse of operating margin).

Roughly one-third of the company’s annual revenue is tied to the automobile industry.

Vitiritto took the helm at Pamt in August 2020 after a...

https://www.freightwaves.com/news/pamt-corp-ceo-resigns-for-family-reasons-amid-mounting-losses

TL carrier Pamt books another loss in Q1

Pamt Corp., formerly Pam Transportation Services, saw another loss in the first quarter.

The Tontitown, Arkansas-based truckload carrier reported a net loss of $8.1 million, or 37 cents per share.

The result was negatively impacted compared to the year-ago quarter by lower non-operating income – primarily a decline in the market value of its equity securities portfolio (a 5-cent headwind) – and higher interest expense (a 4-cent headwind). Those items were offset by $3 million in gains on...

https://www.freightwaves.com/news/tl-carrier-pamt-books-another-loss-in-q1

Pamt Corp. books big loss in Q4

Pamt Corp., formerly Pam Transportation Services, booked a big net loss during the fourth quarter.

Pamt Corp. (NASDAQ: PAMT) reported a headline net loss of $31.6 million, or $1.45 per share. The result included a $24.7 million one-time depreciation adjustment and a $6.4 million impairment tied to a drop in equipment valuations. Excluding the one-offs, the company booked an adjusted net loss of $7.8 million, or 36 cents per share.

The result fell short of a lone analyst estimate of 7 cents per...

https://www.freightwaves.com/news/pamt-corp-books-big-loss-in-q4

Pam Transportation’s TL unit records fourth straight operating loss

Truckload carrier Pam Transportation Services saw a return to profitability on a consolidated basis as operating trends improved sequentially in the third quarter. The quarter started slow due to planned shutdowns across its automotive manufacturing customer base and was further crimped by a hurricane to close the period.

Pam (NASDAQ: PTSI) reported earnings per share of 11 cents, which came in ahead of a lone analyst estimate of 2 cents but declined 17 cents year over year. The quarter saw a...

https://www.freightwaves.com/news/pam-transportations-tl-unit-records-fourth-straight-operating-loss

Pam Transportation reports net loss in Q2

Truckload carrier Pam Transportation Services reported a net loss for the 2024 second quarter but noted some seasonal improvement as the period progressed.

Pam (NASDAQ: PTSI) reported a net loss of 13 cents per share, which was worse than a lone analyst estimate of 8 cents and well below earnings per share of 42 cents in the year-ago quarter. Comparisons to the prior-year period show higher interest expense was a 4-cent headwind (total debt increased 16% year over year to $266 million) and lower...

https://www.freightwaves.com/news/pam-transportation-reports-net-loss-in-q2

Pam Transportation books operating loss in ‘extremely challenging’ Q1

Truckload carrier Pam Transportation Services announced an operating loss for a second straight period in what it described as an “extremely challenging” first quarter.

Pam (NASDAQ: PTSI) reported net earnings per share of 1 cent compared to 23 cents in the same period a year ago. The result was below a lone analyst’s 7-cent estimate.

Gains generated from equity holdings were $3 million higher year over year (y/y), which produced a 10-cent tailwind to the EPS number. The carrier booked a loss on...

https://www.freightwaves.com/news/pam-transportation-books-operating-loss-in-extremely-challenging-q1

Auto strike dents Pam Transportation’s Q4

Pam Transportation Services said an auto strike during the fall was to blame for its net loss in the last quarter of the year.

Pam (NASDAQ: PTSI) reported a net loss of $2.2 million, or 10 cents per share, for the 2023 fourth quarter. The result was below a lone 20-cent estimate from an analyst and well below earnings per share of 81 cents in the year-ago quarter.  

The company recorded a $132,000 loss from the disposal of equipment compared to a gain of $587,000 in the 2022 fourth quarter. Gains...

https://www.freightwaves.com/news/auto-strike-dents-pam-transportations-q4

Pam Transportation feels brunt of downcycle in Q3

Pam Transportation Services’ third quarter produced a big reset from the record highs the company posted just one year ago. The result was also a notable step down from the 2023 second quarter.

Third-quarter revenue of $202 million was down 20% year over year (y/y) and operating income and earnings per share were off approximately 75%. The Tontitown, Arkansas-based carrier recorded EPS of 28 cents compared to $1.09 in the same period last year.

Lower gains on sale were a 3 cent hit and a higher...

https://www.freightwaves.com/news/pam-transportation-feels-brunt-of-downcycle-in-q3

Pam Transportation sees earnings fall 60% in Q2

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); gptAdSlots.push(gptSlot); });

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Pam Transportation Services reported late Wednesday a more than 60% year-over-year (y/y)...

https://www.freightwaves.com/news/pam-transportation-sees-earnings-fall-60-in-q2

+ More