Business
P.A.M. Transportation Services, Inc. Announces Results for the Second Quarter Ended June 30, 2023
Second Quarter 2023 Summary Results Total revenues of $207.4 million, down 12.6% YoY Operating income of $13.8 million, down 62.4% YoY Operating ratio of
About this update from Pamt Corp
[{"type":"text","content":"\nSecond Quarter 2023 Summary Results\n\n\n\nTotal revenues of $207.4 million, down 12.6% YoY\n\n\n\nOperating income of $13.8 million, down 62.4% YoY\n\n\n\nOperating ratio of 93.4%\n\n\n\nDiluted EPS of $0.42, down 61.1% YoY\n\n\n\n TONTITOWN, Ark.--(BUSINESS WIRE)--\nP.A.M. Transportation Services, Inc. (NASDAQ: PTSI) (“we” or the “Company”) today reported consolidated net income of $9.3 million, or diluted and basic earnings per share of $0.42, for the quarter ended June 30, 2023. These results compare to consolidated net income of $24.2 million, or diluted earnings per share of $1.08 ($1.09 basic), for the quarter ended June 30, 2022.\n\n\nConsolidated operating revenues decreased 12.6% to $207.4 million for the second quarter of 2023 compared to $237.2 million for the second quarter of 2022.\n\n\nLiquidity, Capitalization, and Cash Flow\n\n\nAs of June 30, 2023, we had an aggregate of $198.8 million of cash, marketable equity securities, and available liquidity under our line of credit and $310.9 million of stockholders’ equity. Outstanding debt was $230.0 million as of June 30, 2023, which represents a $34.3 million decrease from December 31, 2022. During the first half of 2023, we generated $68.5 million in operating cash flow.\n\n\nAbout P.A.M. Transportation Services, Inc.\n\n\nP.A.M. Transportation Services, Inc. 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.\n\n\nForward-Looking Statements\n\n\nCertain 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 unc...