Pam Transportation Reports 60% YoY Drop
Pam Transportation reports over 60% YoY drop in Q2 operating income despite increase in service, impacted by 18% decline in revenue per loaded mile.
Pam Transportation Services reported a 60% YoY decrease in operating income in Q2, even as average trucks in service, total loads, and loaded miles increased, due to an 18% decline in revenue per loaded mile. Despite a 9% increase in trucks in service and loads attributed to the acquisition of Metropolitan Trucking last June, the truckload segment saw a significant operating ratio increase, and the company's logistics unit reported a 9% YoY decline in revenue. Earnings per share for Q2 dropped 66 cents YoY, and shares of PTSI were down 2.3% on Thursday.