Welcome to our dedicated page for Patriot Transn Hldg news (Ticker: PATI), a resource for investors and traders seeking the latest updates and insights on Patriot Transn Hldg stock.
Patriot Transportation Holding, Inc. (NASDAQ: PATI) provides essential tank truck transportation services for petroleum products and industrial materials across the southeastern United States. This news hub offers investors and industry professionals direct access to verified updates about the company's operational developments and financial performance.
Our curated collection features official earnings reports, merger announcements, and strategic business updates. Recent highlights include PATI's fiscal 2023 third-quarter results showing revenue growth and details of the pending acquisition by United Petroleum Transports. Users will find updates on fleet operations, safety initiatives, and market expansion efforts.
All content is maintained to meet investor needs for timely, accurate information about this NASDAQ-listed transportation specialist. The resource serves as a reliable reference for understanding PATI's position in fuel logistics and bulk chemical transportation markets.
Bookmark this page for ongoing access to critical updates affecting Patriot Transportation's market performance and strategic direction. Check back regularly for new filings and press releases as the company progresses through its merger process and continues serving key energy sector clients.
Patriot Transportation Holding, Inc. (NASDAQ:PATI) reported a net income of $485,000 ($0.14 per share) for Q1 2023, significantly down from $6,439,000 ($1.74 per share) the prior year, which included notable real estate gains. Operating revenues increased to $22,850,000, attributed to higher rates and fuel surcharges, despite a 5.5% drop in revenue miles due to a reduced driver count. Operating profit fell to $620,000 compared to $8,541,000 in Q1 2022. The company is focused on reducing inflation impact through effective rate negotiations while maintaining a stable balance sheet with $7.8 million in cash. Capital expenditures of about $12 million are planned for FY 2023.
Patriot Transportation Holding, Inc. (NASDAQ:PATI) will release its first quarter earnings on February 2, 2023, followed by a conference call at 3:00 PM EST. Interested participants can join via phone or listen to a live stream on the company's website. An audio replay will be available for 60 days post-call. On the same date, the company will conduct its 2023 Annual Shareholder's meeting at 11 AM EST, accessible through multiple options including a Zoom link. Patriot Transportation operates through its subsidiary, Florida Rock & Tank Lines, Inc., focusing on transporting liquid and dry bulk goods in the southeastern U.S.
Patriot Transportation Holding (NASDAQ:PATI) reported a net income of $470,000 ($0.13/share) for Q4 2022, up significantly from $40,000 ($0.01/share) in Q4 2021. Operating revenue increased to $22.9 million, driven by rate hikes and improved business mix, despite a 6% drop in revenue miles due to driver count issues. For fiscal year 2022, net income reached $7.19 million ($1.98/share), influenced by substantial gains from real estate sales. The company plans $12 million in capital expenditures for 2023, focusing on driver compensation and rate negotiations to counter inflationary pressures.
