PAMT Q1 loss exceeds $8 million, revenue down 14%

Tontitown-based carrier PAMT Corp. posted a net loss and a revenue decline in the first quarter. Last year, the company had losses in the second and fourth quarters, with its fourth-quarter loss exceeding $31 million.

After the markets closed Wednesday (April 23), PAMT – formerly P.A.M. Transportation Services Inc. – reported a loss of $8.14 million, or a loss of 37 cents per share, in the first quarter of 2025 compared to net income of $281,000, or 1 cent per share, in the same period last year. Revenue fell by 14.9% to $155.34 million from $182.59 million.

PAMT is led by President and CEO Joe Vitiritto, who typically provides a statement in the company’s quarterly earnings report. Vitiritto did not give a statement in this report. This marks the second consecutive quarter without a statement.

In PAMT’s logistics operations, revenue declined by 24.66% to $44.27 million in the first quarter from $58.76 million in the same period last year. Operating ratio, or expenses as a percentage of revenue, rose to 98% from 93.9%.

Following are first-quarter metrics in PAMT’s truckload operations compared to the same period in 2024.
• Operating ratio rose to 110.9% from 104.2%
• Empty miles factor was flat at 9%.
• Revenue per mile decreased to $2.04 from $2.11.
• Total loads declined to 94,644 from 102,200.
• Average company-driver trucks decreased to 1,667 from 1,895.
• Average owner-operator trucks rose to 514 from 365.

Shares of PAMT (NASDAQ: PAMT) were trading Thursday (April 24) at $13.76, down 16 cents or 1.15%. In the past 52 weeks the stock has ranged between $11.01 and $23.70.