PAM Transportation Q2 2024: Revenue $5.97M, Net Income $581K

TL;DR

PAM Transportation Q2 revenue $5.97M, net income $581K. Six-month revenue $10M, net income $22.3M.

AI Summary

PAM Transportation Services Inc. reported Q2 2024 results with total revenue of $5,974,000 and net income of $581,586. For the six months ended June 30, 2024, the company generated $10,000,000 in revenue and $22,336,597 in net income. The filing also notes stock splits in August 2021 and March 2022.

Why It Matters

This 10-Q filing provides investors with the latest financial performance data for PAM Transportation Services Inc., crucial for assessing the company's operational health and future prospects.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative developments.

Key Numbers

• $5.97M — Q2 2024 Revenue (Quarterly top-line performance)
• $0.58M — Q2 2024 Net Income (Quarterly profitability)
• $10.0M — YTD Revenue (Year-to-date top-line performance)
• $22.3M — YTD Net Income (Year-to-date profitability)

Key Players & Entities

• PAM TRANSPORTATION SERVICES INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• $5,974,000 (dollar_amount) — Q2 2024 Revenue
• $581,586 (dollar_amount) — Q2 2024 Net Income
• $10,000,000 (dollar_amount) — Six Months Ended June 30, 2024 Revenue
• $22,336,597 (dollar_amount) — Six Months Ended June 30, 2024 Net Income
• August 2021 (date) — Stock Split Date
• March 2022 (date) — Stock Split Date

FAQ

Filing Documents

• ptsi20240630_10q.htm (10-Q) — 995KB
• ex_705499.htm (EX-31.1) — 12KB
• ex_705498.htm (EX-31.2) — 12KB
• ex_705497.htm (EX-32.1) — 5KB
• 0001437749-24-024895.txt ( ) — 4522KB
• ptsi-20240630.xsd (EX-101.SCH) — 43KB
• ptsi-20240630_cal.xml (EX-101.CAL) — 39KB
• ptsi-20240630_def.xml (EX-101.DEF) — 288KB
• ptsi-20240630_lab.xml (EX-101.LAB) — 252KB
• ptsi-20240630_pre.xml (EX-101.PRE) — 314KB
• ptsi20240630_10q_htm.xml (XML) — 571KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited). 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statement of Stockholders' Equity for the Six Months Ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements as of June 30, 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. 19 Item 4.

Controls and Procedures

Controls and Procedures. 20

Other Information

Part II. Other Information Item 1. Legal Proceedings. 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 21 Item 5. Other Information 22 Item 6. Exhibits. 23

Signatures

Signatures 24 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) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 71,984 $ 100,614 Accounts receivable-net: Trade, less current estimated credit loss of $ 5,974 and $ 7,717 , respectively 92,324 80,604 Other 6,444 7,203 Inventories 2,326 2,321 Prepaid expenses and deposits 9,407 13,213 Marketable equity securities 42,005 43,203 Income taxes refundable 4,473 3,883 Total current assets 228,963 251,041 Property and equipment: Land 30,426 23,078 Structures and improvements 50,764 43,552 Revenue equipment 682,096 689,173 Office furniture and equipment 18,010 15,328 Total property and equipment 781,296 771,131 Accumulated depreciation ( 279,527 ) ( 266,412 ) Net property and equipment 501,769 504,719 Other assets 2,795 4,697 TOTAL ASSETS $ 733,527 $ 760,457 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 40,034 $ 62,652 Accrued expenses and other liabilities 16,798 16,799 Current maturities of long-term debt 54,881 57,645 Total current liabilities 111,713 137,096 Long-term debt - less current portion 211,140 204,064 Deferred income taxes 103,500 104,331 Other long-term liabilities 500 750 Total liabilities 426,853 446,241 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; 22,336,597 and 22,317,671 shares issued; 21,755,011 and 22,021,341 shares outstanding at June 30, 2024 and December 31, 2023, respectively 223 223 Additional paid-in capital 41,171 40,825 Treasury stock, at cost; 581,586 and 296,330 shares at June 30, 2024 and December 31, 2023, respectively ( 13,995 ) ( 8,736 ) Retain

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View this 10-Q filing on SEC EDGAR