Latest news with #PAMTCORP
Business Wire
3 days ago
- Business
- Business Wire
PAMT CORP Announces Executive Promotions
TONTITOWN, Ark.--(BUSINESS WIRE)--PAMT CORP (NASDAQ: PAMT) (the 'Company') today announced the promotion of the Company's Chief Financial Officer, Lance K. Stewart, to serve as President and Chief Executive Officer and a director of the Company, effective August 4, 2025. The Company's Chairman, Matthew T. Moroun, who has been serving as interim Chief Executive Officer of the Company since June 27, 2025, will return to his role as Chairman of the Board. Daniel C. Kleine, the Company's recently promoted Senior Vice President of Finance and Treasurer, will serve as the Company's principal financial and accounting officer, effective August 4, 2025, until a permanent Chief Financial Officer is named. The Company is also currently conducting a national search for an additional executive to serve in an operational capacity. Mr. Stewart, age 56, has served as Vice President of Finance, Chief Financial Officer and Treasurer of the Company since April 2023. He is a native of Tontitown, Arkansas, having grown up near the Company's headquarters. Mr. Stewart began his career with P.A.M Transport, Inc., the Company's primary operating subsidiary, in 1989 and served in various capacities before being promoted to Vice President of Accounting in 2002. Mr. Stewart served as Vice President of Accounting and Controller of P.A.M. Transport from 2002 until 2010 and was appointed Vice President of Finance, Chief Financial Officer, Secretary and Treasurer of the Company in 2010, serving in that capacity until 2013. After a brief period away from the Company, he returned and served as Vice President of Accounting of P.A.M. Transport from 2016 until 2020 and then as Vice President of Operations of P.A.M. Transport from 2020 until becoming Chief Financial Officer of the Company again in April 2023. He also briefly served as interim Chief Financial Officer in March 2023. Daniel C. Kleine, age 36, has served as Senior Vice President of Finance of P.A.M. Transport since June 2025 and served as Vice President of Tax of P.A.M. Transport from June 2023 to June 2025. Prior to joining the Company, Mr. Kleine served in various roles at George's, Inc., a privately owned poultry producing company headquartered in Northwest Arkansas, including Tax Director from September 2022 to June 2023 and Tax Accounting Manager from October 2020 to September 2022. He served as Senior Tax Accountant at George's from June 2017 to October 2020. Additionally, Mr. Kleine served as Senior Tax Accountant at Frost, PLLC in Little Rock, Arkansas from August 2013 to June 2017. Mr. Kleine is a Certified Public Accountant and earned bachelor's degrees in accounting and finance, with a minor in economics, from the University of Arkansas, Fayetteville, and a master's degree in accounting from the University of Arkansas, Little Rock. About PAMT CORP PAMT CORP is a holding company that owns subsidiaries engaged in providing truckload dry van carrier services transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company's consolidated operating subsidiaries also provide transportation services in Mexico through its gateways in Laredo and El Paso, Texas, both as part of the services provided by the operating subsidiaries themselves and under agreements with Mexican carriers.
Yahoo
25-07-2025
- Business
- Yahoo
PAMT: Q2 Earnings Snapshot
TONTITOWN, Ark. (AP) — TONTITOWN, Ark. (AP) — PAMT CORP (PAMT) on Friday reported a loss of $9.6 million in its second quarter. On a per-share basis, the Tontitown, Arkansas-based company said it had a loss of 46 cents. The trucking company posted revenue of $151.1 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on PAMT at 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
San Francisco Chronicle
25-07-2025
- Business
- San Francisco Chronicle
PAMT: Q2 Earnings Snapshot
TONTITOWN, Ark. (AP) — TONTITOWN, Ark. (AP) — PAMT CORP (PAMT) on Friday reported a loss of $9.6 million in its second quarter. On a per-share basis, the Tontitown, Arkansas-based company said it had a loss of 46 cents. The trucking company posted revenue of $151.1 million in the period. _____
Washington Post
25-07-2025
- Business
- Washington Post
PAMT: Q2 Earnings Snapshot
TONTITOWN, Ark. — TONTITOWN, Ark. — PAMT CORP (PAMT) on Friday reported a loss of $9.6 million in its second quarter. On a per-share basis, the Tontitown, Arkansas-based company said it had a loss of 46 cents. The trucking company posted revenue of $151.1 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on PAMT at
Business Wire
25-07-2025
- Business
- Business Wire
PAMT CORP Announces Results for the Second Quarter Ended June 30, 2025
TONTITOWN, Ark.--(BUSINESS WIRE)--PAMT CORP (NASDAQ: PAMT) ('we' or the 'Company') today reported consolidated net loss of $9.6 million, or diluted and basic loss per share of $0.46, for the quarter ended June 30, 2025. These results compare to consolidated net loss of $2.9 million, or diluted and basic loss per share of $0.13, for the quarter ended June 30, 2024. Operating revenues decreased 17.4% to $151.1 million for the second quarter of 2025 when compared to $182.9 million for the second quarter of 2024. Liquidity, Capitalization, and Cash Flow As of June 30, 2025, we had an aggregate of $177.1 million of cash, marketable equity securities, and available liquidity under our line of credit and $244.9 million of stockholders' equity. Outstanding debt was $331.2 million as of June 30, 2025, which represents a $5.7 million increase from December 31, 2024. During the first half of 2025, we generated $17.2 million in operating cash flow. About PAMT CORP PAMT CORP is a holding company that owns subsidiaries engaged in providing truckload dry van carrier services transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company's consolidated operating subsidiaries also provide transportation services in Mexico through its gateways in Laredo and El Paso, Texas, under agreements with Mexican carriers. Forward-Looking Statements Certain information included in this document contains or may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results, prospects, plans or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, excess capacity in the trucking industry; surplus inventories; general inflation, recessionary economic cycles and downturns in customers' business cycles; a significant reduction in or termination of the Company's trucking service by a key customer, including as a result of recent or future labor or international trade disruptions; increases or rapid fluctuations in fuel prices, interest rates, fuel taxes, tolls, and license and registration fees; potential economic, business or operational disruptions or uncertainties that may result from any future public health crises; the resale value of the Company's used equipment; the price and availability of new equipment consistent with anticipated acquisitions and replacement plans; increases in compensation for and difficulty in attracting and retaining qualified drivers and owner-operators; increases in insurance premiums and deductible amounts relating to accident, cargo, workers' compensation, health, and other claims; increases in the number or amount of claims for which the Company is self-insured; inability of the Company to continue to secure acceptable financing arrangements; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors including reductions in rates resulting from competitive bidding; the ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; the impact of pending or future litigation; general risks associated with doing business in Mexico, including, without limitation, exchange rate fluctuations, inflation, import duties, tariffs, quotas, political and economic instability and terrorism; the potential impact of new laws, regulations or policy, including, without limitation, rules regarding the classification of independent contractors as employees, tariffs, import/export, trade and immigration regulations or policies; and other factors, including risk factors, included from time to time in filings made by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise forward-looking statements, whether due to new information, future events or otherwise. Considering these risks and uncertainties, the forward-looking events and circumstances discussed above and in company filings might not transpire. PAMT CORP Condensed Consolidated Balance Sheets (unaudited) June 30, December 31, 2025 2024 (in thousands) ASSETS Current Assets: Cash and cash equivalents $68,915 $68,060 Trade accounts receivable, net 75,683 79,967 Other receivables 5,136 4,854 Inventories 2,382 2,433 Prepaid expenses and deposits 8,523 11,555 Marketable equity securities 48,384 42,620 Income taxes refundable - 2,281 Total current assets 209,023 211,770 Property and equipment 776,040 836,490 Less: accumulated depreciation 281,194 309,272 Total property and equipment, net 494,846 527,218 Other non-current assets 3,998 2,666 Total Assets $707,867 $741,654 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $30,964 $31,198 Accrued expenses and other liabilities 16,614 14,569 Income taxes payable 1,774 - Current portion of long-term debt 68,827 73,017 Total current liabilities 118,179 118,784 Long-term debt, net of current portion 262,406 252,565 Deferred income taxes 81,790 92,547 Other long-term liabilities 578 250 Total liabilities 462,953 464,146 STOCKHOLDERS' EQUITY Common stock 224 224 Additional paid-in capital 41,274 41,171 Treasury stock, at cost (28,924) (13,996) Retained earnings 232,340 250,109 Total stockholders' equity 244,914 277,508 Total liabilities and stockholders' equity $707,867 $741,654 Expand ____________________________________ 1) Excludes miles driven by third party power only carriers. 2) The Truckload Operations operating ratio has been calculated based upon total operating expenses, net of fuel surcharge, as a percentage of revenue, before fuel surcharge. We used revenue, before fuel surcharge, and operating expenses, net of fuel surcharge, because we believe that eliminating this sometimes volatile source of revenue affords a more consistent basis for comparing our results of operations from period to period. Expand
