PAM Transportation Services - PTSI STOCK NEWS

P.A.M. Transportation Services reported consolidated net income of $2.4 million, or $0.11 per diluted share, for Q3 2024, compared to $6.1 million, or $0.28 per share, in Q3 2023. Operating revenues decreased 9.4% to $182.6 million from $201.5 million year-over-year. The company's operating ratio was 98.7%, with operating income of $2.3 million. The quarter was impacted by extended customer downtime and Hurricane Helene. As of September 30, 2024, the company had $152.2 million in combined cash, marketable securities, and credit line availability, with outstanding debt of $288.7 million.

P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) reported a challenging second quarter 2024, with total revenues of $182.9 million, down 11.8% year-over-year. The company experienced an operating loss of $0.7 million and a consolidated net loss of $2.9 million, or diluted loss per share of $0.13. This compares to net income of $9.3 million and earnings per share of $0.42 in Q2 2023.

Despite the downturn, President Joe Vitiritto noted signs of seasonal demand patterns and capacity tightening towards the quarter's end. The company maintains a strong financial position with $173.9 million in cash, marketable securities, and available credit, alongside $306.7 million in stockholders' equity. PTSI generated $28.4 million in operating cash flow during the first half of 2024.

P.A.M. Transportation Services announced the final results of its modified Dutch auction tender offer to repurchase up to 550,000 shares of its common stock. The offer, which expired on May 22, 2024, concluded with the company purchasing 284,206 shares at $18.00 per share, totaling $5.11 million. This represents approximately 1.3% of the company's issued and outstanding shares. Post-transaction, the company has 21,755,186 shares outstanding. P.A.M. Transportation may repurchase additional shares in the future, subject to market conditions and other relevant factors. However, no additional shares can be repurchased until June 7, 2024.

P.A.M. Transportation Services (NASDAQ: PTSI) announced preliminary results for its modified 'Dutch auction' tender offer to repurchase up to 550,000 shares of common stock, which expired on May 22, 2024. Approximately 284,222 shares were properly tendered and accepted at a price of $18.00 per share, totaling around $5.1 million. This represents about 1.3% of the company's outstanding shares as of April 19, 2024. The final number of shares and purchase price will be confirmed by Computershare Trust Company, the depositary for the tender offer, by May 28, 2024. The company may repurchase additional shares after June 7, 2024, depending on various business and market conditions.

P.A.M. Transportation Services, Inc. has initiated a self-tender offer to buy back up to 550,000 shares through a Dutch auction.

P.A.M. Transportation Services, Inc. reported a net income of $0.3 million and diluted EPS of $0.01 for the first quarter ended March 31, 2024. Operating revenues decreased by 17.6% to $182.6 million compared to the same period last year. The operating loss was $0.7 million with an operating ratio of 100.4%. The company's focus is on cost reduction and efficiency improvements to navigate the challenging truckload market.

P.A.M. Transportation Services, Inc. reported total revenues of $182.6 million, down by 17.6% YoY, with an operating loss of $0.7 million and an operating ratio of 100.4% for the first quarter ended March 31, 2024. The diluted EPS was $0.01. The company's net income was $0.3 million, with diluted and basic earnings per share of $0.01, compared to $5.2 million in net income for the same period in 2023. Operating revenues decreased by 17.6% to $182.6 million. The President highlighted the challenging truckload market environment and emphasized cost reduction and efficiency improvement strategies. The company's liquidity stood at $185.7 million, with $314.6 million in stockholders' equity and outstanding debt of $271.6 million as of March 31, 2024.

P.A.M. Transportation Services, Inc. (PTSI) reported a consolidated net loss of $2.2 million for the quarter ended December 31, 2023, with a diluted loss per share of $0.10. Consolidated operating revenues decreased by 24.2% to $180.2 million for the fourth quarter of 2023 compared to the same period in 2022. The company's President attributed the weak freight environment and the impact of the UAW strike as the primary reasons for the challenging business backdrop. Despite this, the company had an aggregate of $203.7 million of cash, marketable equity securities, and available liquidity under their line of credit as of December 31, 2023.

P.A.M. Transportation Services reports third quarter 2023 results with a decrease in revenues and income compared to the previous year.