PAM Transport Reports More Big Profits

PAM Transport Inc. of Tontitown on Thursday reported 2021 third-quarter revenue of $183.1 million, up from $121.9 million in the same quarter of fiscal 2020.

Income for the quarter was $21.4 million, up from $6 million a year ago. Earnings per share was $1.87, up from 52 cents.

It is the fourth consecutive quarter PAM has reported income of more than $11.9 million.

"We have had another record quarter for revenue and operating statistics at PAM,” said PAM CEO Joe Vitiritto. “I am excited to see the work that continues to go in to making PAM into what our customers and employees expect from a growing transportation company.”

PAM reported fewer miles driven during the quarter but many more loads delivered, 97,119 an increase from 89,435 in 2020. Revenue per truck per week was $4,512, up from $3,460.

“We continued to see significant disruptions from some of our biggest customers in the third quarter and it accelerated quarter over quarter, but we are getting better at navigating the disruptions and that shows in our results this quarter,” Vitiritto said. “We still have plenty of opportunity to continue to improve from here and our team will continue to press for profitable growth as we move through the rest of the year and into 2022.”

The company’s logistics division reported quarterly revenue of $55.9 million, up from $26.9 million.