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PAMT CORP reported significant losses for Q4 and full-year 2024. The company posted Q4 revenues of $166.5 million, down 7.6% year-over-year, with a net loss of $31.6 million ($1.45 per share). Full-year 2024 revenues decreased 11.9% to $714.6 million with a net loss of $31.8 million.
Key factors impacting Q4 results include a $24.7 million increase in depreciation due to accounting estimate changes and a $6.4 million impairment charge related to declining used equipment values. Excluding these one-time charges, adjusted Q4 operating loss was $6.6 million.
The company's liquidity position shows $170.5 million in cash, marketable securities, and available credit, with outstanding debt of $325.6 million, up $63.9 million from 2023. Operating cash flow for 2024 was $59.0 million.
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