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PAM Transport Posts Flat 3Q Earnings

2 min read

PAM Transport Services Inc. of Tontitown reported third-quarter income of $3.446 million, a negligible decrease from $3.451 million in the same quarter of 2016.

Revenue for the quarter was $108.89 million, a decrease from $109.39 million in 2016. Earnings per share for the quarter was 54 cents, up one cent from the same quarter of 2016.

“We have been pleased with the continued progress we have made throughout 2017,” PAM President and CEO Dan Cushman said. “When making year-over-year and quarter-over-quarter comparisons in our performance, the third quarter of this year was the start of what we expect to be the turning point in these comparisons as we look forward to future expectations. We are very confident that not only has our performance gap closed, in the coming year we expect to exceed this year’s results.”

PAM reported a drop in total miles in its truckload division to 56 million miles for 60.7 million miles in 2016. Overall loads increased, though, from 81,006 a year ago to 84,611 in 2017.

Revenue per truck per week dropped slightly from $3,540 to $3,500. The logistics division saw its revenue rise to $13.7 million in the third quarter of 2017, an increase from $10.6 million in the same quarter a year ago.

“The third quarter of 2017 was not without its challenges as the month of July was unexpectedly difficult as some of our automotive customers, which comprise a significant portion of our customer base, initiated plant downtime schedules that lasted longer than what we had experienced over the past several years,” Cushman said. “This resulted in equipment productivity losses as we scrambled to find acceptable short-term freight moves that would keep our trucks productive.”

PAM reduced its truck count to 1,808 this quarter, down from 1,882 in the third quarter of 2016. Company-owned trucks numbered 1,160, a decrease fro 1,315, while PAM increased its owner-operated trucks from 567 to 648.

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