PAM Transport Posts $31.6M Loss in Q4

(PAM Transport(

PAM Transport Inc. of Tontitown (Nasdaq: PAMT) reported Tuesday a loss of $31.6 million in fourth-quarter income, significantly widening a loss of $2.2 million it posted in the same quarter a year ago.

The result included a one-time depreciation adjustment of $24.7 million and a $6.4 million impairment charge connected to a drop in equipment valuations.

The loss per share was $1.45, down from a loss of 10 cents per share a year ago. Losses, adjusted for one-time gains and costs, came to 36 cents per share.

Fourth-quarter income came on revenue of $166.5 million, a 7.6% drop from $180.2 million.

For the full year of 2024, the company posted a loss of $31.8 million, compared to a profit of $18.4 million in 2023. Revenue was $714.6 million, down 11.9% from $810.8 million in 2023.

The company’s truckload division reported a drop in quarterly loads from 94,776 to 93,778 and annual loads from 411,548 to 400,098. Revenue per truck per week for the quarter was $3,600, down from $3,722 in the same quarter a year ago; for the year, revenue per truck per week was $3,615, down from $3.861.

The company’s logistics division reported quarterly revenue of $44.4 million, down from $52.9 million. For the year, revenue was $207 million, down from $245.2 million.

In November, PAM’s holding company converted from a Delaware charter to a Nevada charter and changed its name to PAMT Corp from P.A.M. Transportation Services Inc. Chairman Matthew Moroun of Warren, Michigan, owns or controls more than 16 million shares of the company.