PAM Transportation Q3 2024: Revenue $222.3M, Net Income $581K

TL;DR

**PAM Transportation Q3 2024: Revenue $222.3M, Net Income $581K. Trucking sector update.**

AI Summary

PAM Transportation Services Inc. reported its Q3 2024 results, with total operating revenue for the nine months ending September 30, 2024, reaching $222.3 million. The company's net income for the same period was $581,586. This filing covers the period up to September 30, 2024.

Why It Matters

This filing provides insight into PAM Transportation's financial performance in the trucking sector, impacting investors and industry observers.

Risk Assessment

Risk Level: medium — The company operates in the cyclical and competitive trucking industry, which is subject to economic fluctuations and regulatory changes.

Key Numbers

• $222.3M — Nine Months Operating Revenue (Represents the total revenue generated from freight transportation services for the period.)
• $581,586 — Nine Months Net Income (Indicates the company's profitability after all expenses for the period.)
• $22,317,671 — Total Assets (Dec 31, 2023) (Shows the company's asset base at the end of the previous fiscal year.)
• $21,782,534 — Total Assets (Sep 30, 2024) (Shows the company's asset base at the end of the reported quarter.)
• $0.01 — Earnings Per Share (Diluted) - Q3 2024 (Represents the profit allocated to each outstanding share of common stock for the quarter.)

Key Players & Entities

• PAM TRANSPORTATION SERVICES INC (company) — Filer
• 20240930 (date) — Period of Report
• $222,364,120 (dollar_amount) — Total operating revenue for the nine months ended September 30, 2024
• $581,586 (dollar_amount) — Net income for the nine months ended September 30, 2024

FAQ

Filing Documents

• ptsi20240930_10q.htm (10-Q) — 1048KB
• ex_738435.htm (EX-31.1) — 13KB
• ex_738434.htm (EX-31.2) — 13KB
• ex_738433.htm (EX-32.1) — 5KB
• 0001437749-24-033548.txt ( ) — 4625KB
• ptsi-20240930.xsd (EX-101.SCH) — 43KB
• ptsi-20240930_cal.xml (EX-101.CAL) — 39KB
• ptsi-20240930_def.xml (EX-101.DEF) — 289KB
• ptsi-20240930_lab.xml (EX-101.LAB) — 253KB
• ptsi-20240930_pre.xml (EX-101.PRE) — 316KB
• ptsi20240930_10q_htm.xml (XML) — 598KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited). 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statement of Stockholders' Equity for the Nine Months Ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements as of September 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 21 Item 6. Exhibits. 22

Signatures

Signatures 23 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) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 48,078 $ 100,614 Accounts receivable-net: Trade, less current estimated credit loss of $ 6,009 and $ 7,717 , respectively 93,673 80,604 Other 5,954 7,203 Inventories 2,332 2,321 Prepaid expenses and deposits 9,499 13,213 Marketable equity securities 44,205 43,203 Income taxes refundable 4,324 3,883 Total current assets 208,065 251,041 Property and equipment: Land 30,426 23,078 Structures and improvements 55,943 43,552 Revenue equipment 726,196 689,173 Office furniture and equipment 15,908 15,328 Total property and equipment 828,473 771,131 Accumulated depreciation ( 282,451 ) ( 266,412 ) Net property and equipment 546,022 504,719 Other assets 2,655 4,697 TOTAL ASSETS $ 756,742 $ 760,457 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 37,898 $ 62,652 Accrued expenses and other liabilities 16,776 16,799 Current maturities of long-term debt 61,170 57,645 Total current liabilities 115,844 137,096 Long-term debt - less current portion 227,539 204,064 Deferred income taxes 104,195 104,331 Other long-term liabilities 250 750 Total liabilities 447,828 446,241 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; 22,364,120 and 22,317,671 shares issued; 21,782,534 and 22,021,341 shares outstanding at September 30, 2024 and December 31, 2023, respectively 224 223 Additional paid-in capital 40,999 40,825 Treasury stock, at cost; 581,586 and 296,330 shares at September 30, 2024 and December 31, 2023, respectively ( 13,996 ) ( 8

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View this 10-Q filing on SEC EDGAR