P.A.M. Transportation Reports Significant 2024 Losses

P.A.M. Transportation Services, Inc. ( (PAMT) ) has released its Q4 earnings. Here is a breakdown of the information P.A.M. Transportation Services, Inc. presented to its investors.

P.A.M. Transportation Services, Inc., a holding company specializing in truckload dry van carrier services across the United States, Canada, and Mexico, has reported its latest earnings. The company is recognized for its comprehensive transportation solutions throughout North America.

The company announced disappointing financial results for the fourth quarter and the full year of 2024, marked by significant operating losses. Total revenues for the fourth quarter were $166.5 million, with an operating loss of $37.7 million, while the annual revenues reached $714.6 million with an operating loss of $36.8 million.

Key financial metrics reveal a challenging year for PAMT CORP. The operating ratio for the fourth quarter was 122.6%, with an adjusted operating ratio of 104.5%. For the full year, the operating ratio stood at 105.1%, with an adjusted figure of 100.9%. The company faced a diluted loss per share of $1.45 for both the quarter and the year. The results were adversely affected by a $24.7 million increase in depreciation and a $6.4 million impairment charge due to changes in accounting estimates and market declines in equipment values.

Despite the downturn, the company maintains a robust liquidity position with $170.5 million in cash, marketable securities, and available credit, although outstanding debt increased primarily due to new equipment acquisitions.

Looking forward, P.A.M. Transportation Services, Inc. aims to navigate the financial challenges while leveraging its existing assets and market presence. The management is focused on strategies to enhance operational efficiency and financial performance in the coming year, amidst industry uncertainties.