Auto hauler Proficient Auto Logistics has made its second acquisition since it became a publicly traded company almost a year ago.
Proficient (NASDAQ: PAL) said Wednesday it had acquired Pennsylvania-based Brothers Auto Transport LLC. In its announcement, Proficient said the company was a “well-established carrier” based in Wind Gap, which is in the northeast part of the Keystone State.
The first acquisition made by Proficient after it began trading publicly was in August when it bought ATG....
En solo unos pocos meses, Jack Cooper pasó de negociar con General Motors en pasos para apuntalar las finanzas del operador de automóviles a Cerrar permanentemente Después de tomar dos golpes de los dos fabricantes de automóviles más grandes de la nación. Fue un final rápido para Jack Cooper, en el...
En el momento que no podría haber sido más perfecto si se hubiera escrito, el auto logística de auto -operador de automóviles publicó sus ganancias del cuarto trimestre el martes y luego realizó una conferencia telefónica con analistas solo un día después Uno de sus mayores competidores cerró sus puertas. Pero eso no significaba que […]
Esta entrada Competente, en medio de una gran agitación para los transportistas de automóviles, es cauteloso en la llamada de ganancias de los analistas Aparece...
In timing that couldn’t have been more perfect if it had been scripted, auto carrier Proficient Auto Logistics released its fourth quarter earnings Tuesday and then held a conference call with analysts just a day after one of its biggest competitors shut its doors.
But that did not mean that management of the newly-created publicly traded company rushed to issue optimistic boasts about how much better Proficient’s business would be with Jack Cooper exiting the market. Instead, the statements...
In just a few short months, Jack Cooper went from negotiating with General Motors on steps to shore up the auto carrier’s finances to permanently closing after taking two blows from the nation’s two largest auto makers.
It was a swift end to Jack Cooper, in business for almost 100 years. It had survived a Chapter 11 process in 2019 but couldn’t survive the upheaval of the past few months.
Monday’s announcement of Jack Cooper’s closure wrapped up a tumultuous period, the past five-plus weeks...
Auto hauler Jack Cooper has lost its contract to transport vehicles for Ford Motor Co., a major blow to the unionized carrier.
Ford is believed to be Jack Cooper’s second-largest customer behind General Motors.
In an internal memo sent to Jack Cooper employees Tuesday morning and obtained by FreightWaves, Ford notified Jack Cooper of the ending of its contract on Jan. 2, with a 30-day notice.
The contract was not expiring at that date, according to sources close to the company, but it did contain...
A slowdown in trucking M&A was met by interest rate cuts for the first time in more than four years in 2024. The anticipation of lower lending rates fostered more constructive transaction dialogues during the year, but deal count across the industry was still off 5% from 2023, according to data compiled by the research team at Left Lane Associates.
The supply chain M&A advisory firm said there is noise in the number as some deals were paused until after the election, which pushed closings into...
https://www.freightwaves.com/news/2024s-most-notable-trucking-deals
Proficient Auto Logistics (PAL), the newly minted publicly traded auto carrier, signaled several weeks ago in a press release and SEC filing that its market had weakened and its third-quarter earnings were likely to be disappointing.
The numbers that came out Friday offered no surprises: Virtually every key financial measure was down, and comments by PAL (NASDAQ: PAL) management on an analyst call suggested there were few signs that the business of hauling autos from OEMs to dealers was getting...
https://www.freightwaves.com/news/weak-q3-numbers-bear-out-proficient-auto-logistics-prediction
Proficient Auto Logistics has two quarters in the books – at least in terms of financial reports – giving investors a better look at the auto carrier, which is also getting bigger.
The company, essentially a rollup of several auto carriers under the Proficient banner that went public in May, posted an operating ratio of 91.8% for the quarter. A year ago, the components of the current company posted a unified OR of 92.7%.
Proficient (NASDAQ: PAL) , in order to comply with Securities and Exchange...
Proficient Auto Logistics, a newly minted publicly traded auto carrier, has introduced itself with a relatively solid operating ratio for the first quarter and a double-digit EBITDA margin.
The company released its earnings this week for the quarter ended March 31. Its stock began trading May 9 in an IPO priced at $15 per share. The stock closed Thursday at $15.60 and has traded in a range of $14.50 to $16.53 since then.
In an email to FreightWaves, CFO Brad Wright said Securities and Exchange...