PAM Transport Inc. of Tontitown on Wednesday reported fourth-quarter income of $27.9 million for fiscal 2021.
The company more than doubled income from the same quarter a year ago, $13.9 million. It came on revenue of $213.9 million, up from $142.8 million a year ago.
Earnings per share was $2.48, up from $1.21.
For the fiscal year, PAM reported revenue of $707.1 million, up from $486.8 million. Income for the year was $76.5 million, up from $17.8 million.
Earnings per share for the year was $6.69, up from $1.55.
During the fiscal year, PAM executed a 2-for-1 stock split that was finalized in August, resulting in PAM’s outstanding shares increasing to 11 million total.
“We made significant progress in the quarter and in 2021 at PAM with profitable organic growth,” PAM CEO Joe Vitiritto said. “The growth has allowed our team to offer creative capacity solutions to our customers in unprecedented times. Our drivers are owed a big thanks for how they navigated the many challenges that 2021 presented them both personally and professionally.
“As we move into 2022, our team is ready to continue to build off what we learned from and executed in 2021.”
The truckload segment reported an uptick in total loads carried with fewer miles traveled for both the quarter and the fiscal year. The sharp increase in revenue and income came as a result of prices, as the company reported revenue per truck per week, a key metric, as $5,385 for the quarter, up from $3,788 a year ago.
For the fiscal year, PAM reported revenue per truck per week of $4,320, up from $3,317.
The logistics division reported quarterly revenue of $63.9 million, up from $38.2 million. For the year, revenue was $211.7 million, up from $101.5 million.