Latest news with #PAL
Yahoo
a day ago
- Automotive
- Yahoo
One-day stock slide at Proficient may be tied to somewhat bearish investor presentation
Proficient Auto Logistics' stock price fell hard Wednesday before a late rebound, possibly in reaction to an investor presentation that had some bearish overtones even if it offered no significant observations that management had not made previously. Proficient (NASDAQ: PAL), the auto carrier that went public a little more than a year ago after rolling up five separate carriers, at one point Wednesday fell to a 52-week low at $6.61. The stock had closed Tuesday at $8, so Wednesday's low was down about 17.4% on the day. It rebounded later to close at $7.57, a decline of 43 cents per share, or 5.37%. The closing price brought PAL stock back into a fairly tight range of recent closing prices ranging from $7.25 on May 23 to $8.06 on May stock is down more than 50% in the past 52 weeks, according to data in Barchart. The closing price Wednesday was down almost 64% since its 52-week high of $21.01 on July 31. In a brief interview with FreightWaves, CEO Rick O'Dell said there were no statements in either the slides or in the in-person presentation at the William Blair investor conference in Chicago that Proficient believed would have been consistent with a sharp drop in the stock price. 'We weren't saying anything, frankly, that we hadn't already spelled out pretty clearly in the last earnings call,' O'Dell said. 'Our messaging was consistent with the last earnings call in May.' The presentation was not broadcast, and there is no transcript of what Proficient officials said. However, the company did release the slides it used at the presentation. While there was nothing significantly new in the outlook Proficient faces for demand for auto hauling services, it does appear that some of what was in the presentation – or possibly in the unreleased comments by Proficient management – may have set off the drop in the stock the bullet points in the presentation, Proficient made several projections about the market for car sales that provides it with its base of business. The seasonally adjusted annual rate of sales in May was expected to be less than in March and April, when 'pull-forward' sales made for a relatively strong March and April. Forecasts for the full year are 'generally lower with a greater range of uncertainty.' A graphic said the SAAR for March was 17.8 million vehicles; for April it was 17.3 million. The May forecast was 16 million vehicles on a SAAR basis, the same as in February. Inventories of new vehicles are 'down substantially.' Some importers have stopped bringing in new vehicles. The possibility of policy changes including additional tariffs has 'obscured and stalled OEM plans.' The end result, according to the Proficient slides, is that 'as pre-tariff dealer inventory is sold and prices increase with tariffs, sales momentum is expected to slow further.' The OEMs that are the core of Proficient's business 'are tending toward incumbents on contract bids,' the presentation said. But for carriers, the company added, 'near-term pricing power is weak.' The presentation contained a chart showing a rough estimate of PAL's market share. It did not list the number of trucks at its competitors but put its own fleet at 1,200, third-largest in the U.S. United Road was listed as the largest carrier. Jack Cooper was second, with the chart noting that it had closed its doors earlier this year. Also in the top five were Hansen & Adkins as the fourth-largest carrier and Cassens Transport fifth. Jack Cooper was organized by the Teamsters. When Proficient was launched, it stressed repeatedly that it was nonunion. In the nine companies listed as the top haulers, the only one besides the defunct Jack Cooper that is listed as union is Cassens Transport. While Proficient executives did not say much on the first-quarter earnings call about the demise of Jack Cooper, the presentation to the conference had more information. It said that after OEM contract business at Jack Cooper was redistributed through the market, 'much of the truck capacity left the market and will not return.'But rather than providing a boon for carriers, the Proficient presentation said 'the effect has been muted by weaker overall market conditions.' And taking another dig at unionized companies, as it did often when Jack Cooper was operating, the Proficient presentation said 'non-union opportunities offer greater earnings potential for motivated drivers.' Proficient had a first-quarter operating loss of $2.36 million, a slight improvement from $2.4 million in the fourth quarter. The Proficient slide said the company is 'projecting sequential growth in total revenue in the high single digits for the quarter' and also expects 'improved profitability.' Another point made in the presentation is that Proficient now has 65% of its revenue from third party haulers or owner-operators, with company trucks making up the balance. But the company also said the goal would be to convert more of that share to company trucks, given the higher operating margins compared to purchased transportation. More articles by John Kingston Last-ditch attempt at tort reform in Texas falls short as second bill fails Port of Long Beach fully behind push for ZEV trucks despite ACF failure: COO BMO's Q2 earnings show no improvement in credit conditions for trucking The post One-day stock slide at Proficient may be tied to somewhat bearish investor presentation appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Filipino Times
4 days ago
- Business
- Filipino Times
Philippine Airlines launches Independence Day seat sale with fares starting from AED 1,300
Philippine Airlines is celebrating the spirit of freedom with its much-awaited Independence Day Seat Sale, offering round-trip fares from Dubai to the Philippines starting at just AED 1,300. Travelers can enjoy special round-trip fares from AED 1,450 for flights between July and November 2025, while those planning ahead can secure AED 1,300 fares for trips beginning January 11, 2026. This deal covers major destinations such as Manila, Cebu, and Davao, with connections via Manila. The promo runs only until June 15, 2025, and seats are limited. For those eyeing a well-deserved break, a family reunion, or simply a getaway to the Philippines, this is a chance to lock in a budget-friendly flight without sacrificing the comfort and reliability that Philippine Airlines is known for. Bookings can be made through trusted travel agents across the UAE or directly at the PAL ticketing office. The seat sale comes at a time when many OFWs are planning mid-year or early next-year vacations. With flexible travel dates and affordable fares, the promotion allows Filipinos to reconnect with loved ones back home or explore more of the country with ease. Philippine Airlines continues to be a reliable partner in bridging the distance between the UAE and the Philippines, delivering convenience, care, and comfort with every flight.
GMA Network
4 days ago
- Business
- GMA Network
PAL rolls out Independence Day Seat Sale 2025
Flag carrier Philippine Airlines (PAL) on Monday announced promotional one-way base fares for as low as P184 for domestic flights and $45 for round-trip economy flights to select international destinations, in celebration of the country's 126th Independence Day. In an advisory, PAL said the promotional fares will be available from June 2 to 15, 2025, with the travel period from June 2, 2025 to January 31, 2025, varying per route. PAL ended the first quarter of the year with a $77-million net income, down from $80.9 million in the same period last year. It flew 4.1 million passengers during the quarter, up 5% year on year. The carrier in April announced key changes in its leadership, with British national and airline industry executive Richard Nuttall taking over as president effective May 29, 2025.—LDF, GMA Integrated News
Time of India
6 days ago
- General
- Time of India
Animal activist fined over 5L for walking dogs in hsg society
Navi Mumbai: A Thane-based animal activist and rescuer, Subhajit Bhattacharya, was fined over Rs 5 lakh for the month of May by his housing society for "walking dogs in the common areas" and other dog-related issues. The activist reacted by stating that it is unfair and unjustified. The Hawaiian Village CHS on Ghodbunder Road in Thane comprises around 100 independent houses or bungalows. Bhattacharya, who runs the NGO 'Shades of Kindness Foundation', takes care of 20 rescued dogs at his bungalow. Since most of these rescued dogs are paraplegic, with certain spinal issues, he reasoned that he must walk the dogs outside. "I moved into this bungalow in Thane around 18 months ago with my 20 dogs. Some society members who do not like dogs have been against my animal welfare work. I have also tried to explain to them that it is natural for dogs to bark or howl. However, my society held a special general body meeting earlier this year and passed a resolution to fine me Rs 2000 every time I take a dog out for walking, and an extra penalty will be charged if any of the society staff are affected by my dogs. This is unfair and harassment on me," said Bhattacharya. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Rugas no pescoço? Esse truque caseiro pode ajudar (Tente isso hoje à noite) Revista & Saúde Saiba Mais Undo The activist has legal support from Pure Animal Lovers (PAL) Foundation, which also feels that such heavy fines on the animal rescuer are uncalled for. "We will send a legal notice to the Thane society because these stiff penalties for walking the dogs are causing mental harassment for Bhattacharya. In our Indian Constitution, Article 51 (A)(g) states that all citizens must show compassion for all animals. Bhattacharya's rescued dogs are also fully vaccinated. Hence, the society is causing unnecessary trouble for him," said PAL's animal rights advisor, Roshan Pathak. When contacted, the chairman of the society, Suresh Mohite, said: "Many society members are having problems because of the dogs kept by Bhattacharya. Bad odour comes from his house, while his kitchen is also unhygienic. One of our watchmen was also bitten by one of his dogs in the common area. Hence, the fines are being charged." However, Bhattacharya replied: "The security guard who was bitten tried to provoke my dog by purposely touching him from behind. My dog was on a leash, and the guard was also drunk. I made sure that he got medical attention. My kitchen is not dirty, as the society is alleging." Meanwhile, Pathak added: "The story of Bhattacharya is also happening at other places in Mumbai, Navi Mumbai, where animal lovers and feeders are being harassed by animal haters. We will move court against this to safeguard animal activists and rescuers."
Filipino Times
7 days ago
- Entertainment
- Filipino Times
Fly with PAL and get 30% off at ARTE MUSEUM Dubai within a month of your trip
Philippine Airlines (PAL) travelers can now enjoy a 30% discount at ARTE MUSEUM Dubai, a unique space where art and technology blend to create a fully immersive experience. By simply presenting a PAL boarding pass dated within one month of travel along with a valid ID, guests can unlock this exclusive offer until May 31, 2026. The promo is valid for up to five guests, including the boarding pass holder, making it a perfect bonding activity for families, barkadas, or even solo travelers with visiting friends. Located at Dubai Mall, ARTE MUSEUM is known for its breathtaking exhibits that transport guests to magical digital landscapes. From waves that move with your motion to glowing digital gardens, the museum offers a refreshing way to unwind after a flight or explore something new while in Dubai. The 30% discount adds even more value to PAL's service for Filipinos traveling between the UAE and the Philippines. The offer, however, does not apply on UAE public holidays, so travelers are encouraged to plan ahead to maximize the deal. ARTE MUSEUM and Philippine Airlines are both committed to offering memorable experiences—whether in the skies or on the ground. This collaboration adds a colorful stop to every kabayan's itinerary, celebrating art, culture, and the beauty of travel. Terms and conditions apply.
