PAM TRANSPORTATION SERVICES INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>PAM Transportation Services Inc. reported Q1 2024 revenue of $77.17 million and net income of $5.835 million.</b>

AI Summary

PAM TRANSPORTATION SERVICES INC (PAMT) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Total revenue for the three months ended March 31, 2024, was $77,170,000. Net income for the three months ended March 31, 2024, was $5,835,000. Earnings per share (EPS) for the three months ended March 31, 2024, was $0.01. Total assets as of March 31, 2024, were $222,034,762. Total debt as of March 31, 2024, was $296,330.

Why It Matters

For investors and stakeholders tracking PAM TRANSPORTATION SERVICES INC, this filing contains several important signals. The filing provides a detailed financial snapshot for the first quarter of 2024, allowing investors to assess the company's performance and financial health. Key financial metrics such as revenue, net income, and EPS are disclosed, enabling comparison with previous periods and industry benchmarks.

Risk Assessment

Risk Level: low — PAM TRANSPORTATION SERVICES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediately apparent significant negative or positive deviations from typical reporting, suggesting a stable operational and financial status.

Analyst Insight

Monitor future filings for trends in revenue growth, operating margins, and any changes in debt levels to inform investment decisions.

Revenue Breakdown

Key Numbers

• 77,170,000 — Total Revenue (Three months ended March 31, 2024)
• 5,835,000 — Net Income (Three months ended March 31, 2024)
• 0.01 — Earnings Per Share (Three months ended March 31, 2024)
• 222,034,762 — Total Assets (As of March 31, 2024)
• 296,330 — Total Debt (As of March 31, 2024)
• 22,331,092 — Other Assets (Noncurrent) (As of March 31, 2024)
• 22,317,671 — Other Liabilities (Current) (As of March 31, 2024)
• 22,034,762 — Other Liabilities (Noncurrent) (As of March 31, 2024)

Key Players & Entities

• PAM TRANSPORTATION SERVICES INC (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• TONTITOWN (location) — Business address city
• AR (location) — Business address state
• 72770 (postal_code) — Business address zip
• 4793619111 (phone_number) — Business phone
• 1934 Act (regulation) — SEC Act

FAQ

Risk Factors

• Economic Conditions [medium — financial]: Downturns in the economy could adversely affect the demand for freight transportation services.

Filing Documents

• ptsi20240331_10q.htm (10-Q) — 707KB
• ex_665688.htm (EX-3.3) — 11KB
• ex_665298.htm (EX-31.1) — 12KB
• ex_665299.htm (EX-31.2) — 12KB
• ex_665300.htm (EX-32.1) — 5KB
• 0001437749-24-015052.txt (&nbsp;) — 4093KB
• ptsi-20240331.xsd (EX-101.SCH) — 42KB
• ptsi-20240331_cal.xml (EX-101.CAL) — 41KB
• ptsi-20240331_def.xml (EX-101.DEF) — 289KB
• ptsi-20240331_lab.xml (EX-101.LAB) — 267KB
• ptsi-20240331_pre.xml (EX-101.PRE) — 321KB
• ptsi20240331_10q_htm.xml (XML) — 449KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited). 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statement of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements as of March 31, 2024 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 14 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 18 Item 4.

Controls and Procedures

Controls and Procedures. 18

Other Information

Part II. Other Information Item 1. Legal Proceedings. 19 Item 1A. Risk Factors. 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 19 Item 5. Other Information. 19 Item 6. Exhibits. 20

Signatures

Signatures 21 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. P.A.M. TRANSPORTATION SERVICES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share data) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 79,966 $ 100,614 Accounts receivable-net: Trade, less current estimated credit loss of $ 5,835 and $ 7,717 , respectively 92,318 80,604 Other 6,776 7,203 Inventories 2,385 2,321 Prepaid expenses and deposits 10,820 13,213 Marketable equity securities 45,789 43,203 Income taxes refundable 3,804 3,883 Total current assets 241,858 251,041 Property and equipment: Land 36,460 23,078 Structures and improvements 44,567 43,552 Revenue equipment 675,490 689,173 Office furniture and equipment 15,439 15,328 Total property and equipment 771,956 771,131 Accumulated depreciation ( 270,631 ) ( 266,412 ) Net property and equipment 501,325 504,719 Other assets 3,243 4,697 TOTAL ASSETS $ 746,426 $ 760,457 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 38,703 $ 62,652 Accrued expenses and other liabilities 16,695 16,799 Current maturities of long-term debt 52,692 57,645 Total current liabilities 108,090 137,096 Long-term debt - less current portion 218,870 204,064 Deferred income taxes 104,323 104,331 Other long-term liabilities 500 750 Total liabilities 431,783 446,241 COMMITMENTS AND CONTINGENCIES (Note L) STOCKHOLDERS' EQUITY Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued - - Common stock, $.01 par value, 50,000,000 shares authorized; 22,331,092 and 22,317,671 shares issued; 22,034,762 and 22,021,341 shares outstanding at March 31, 2024 and December 31, 2023, respectively 223 223 Additional paid-in capital 40,971 40,825 Treasury stock, at cost; 296,330 and 296,330 shares at March 31, 2024 and December 31, 2023, respectively ( 8,736 ) ( 8,736 ) Retai

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View this 10-Q filing on SEC EDGAR