PAM Transport Reports Big Revenue Jump in Q3

PAM Transport Reports Big Revenue Jump in Q3
Joe Vitiritto, CEO of PAM Transport Inc. (PAM Transport)

PAM Transport Inc. of Tontitown (Nasdaq: PTSI) reported Thursday third-quarter revenue of $252.6 million for fiscal 2022, nearly a 38% increase from the same quarter a year ago when it was $183.1 million.

PAM’s quarterly income was $24.6 million, up nearly 15% from $21.4 million a year ago. Earnings per share was $1.09, an increase from 93 cents in the same quarter a year ago.

“I am proud of our team and how they navigated the third quarter,” PAM CEO Joe Vitiritto said. “Our driving associates continue to be a cornerstone of our success and we appreciate all they sacrifice to help us achieve these results. Although we had a record revenue quarter, our culture is to never be satisfied with our results and continually look for areas to improve.”

The company reported an increase in total loads in the quarter, from 87,218 to more than 110,000. Revenue per truck per week was $4,562, up from $4,512.

PAM’s logistics segment reported quarterly revenue of $71.5 million, up from $55.9 million.

Shares of the company were down about 1% midday Friday. For the year to date, shares were down 16%.

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