PAMT Reports Q3 Loss of $8 Million Despite 8% Revenue Growth
Tontitown-based carrier PAMT Corp. posted its eighth straight quarterly loss as revenue rose for the second consecutive quarter, driven by rising rates and costs.
After markets closed on Monday, PAMT reported a loss of $8.05 million, or a loss of 38 cents per share, in the third quarter compared to a loss of $5.58 million, or 27 cents per share, in the same period last year. Revenue rose by 8.17% to $162.54 million from $150.26 million.
"The ongoing exit of industry capacity, influenced in part by heightened enforcement and evolving legal and regulatory developments, continues to contribute to tightening market conditions," said President Lance Stewart. "This shift has provided us with opportunities to improve our rate per mile by 11% sequentially and 6% compared to the third quarter of 2025."
Revenue per mile was $1.98 in the second quarter of 2026 and $2.06 in the third quarter of 2025.
Stewart noted that higher rates were offset by rising fuel costs and expenses to attract and retain drivers, as well as lower gains on the sale of used equipment. He expects continued driver recruitment and retention costs as enforcement and regulatory requirements limit the driver pool.
"While this rate improvement represents a positive step toward aligning customer rates with the inflationary cost increases experienced over the past four years, cumulative cost increases continue to outpace the pricing improvements achieved to date," he added. "We remain optimistic that rates will continue to improve as the market adjusts to ongoing cost pressures and reduced industry capacity."
The company previously reported a profit of $2.41 million in the third quarter of 2024 as P.A.M. Transportation Services Inc. In November 2024, PAMT completed its redomestication from Delaware to Nevada, changing its name and beginning trading on the NASDAQ under the symbol PAMT.
PAMT reported its second straight quarter of revenue gains in Q3 2026, with its previous increase dating back to Q1 2023.
Through the first three quarters of 2026, PAMT posted a loss of $15.5 million, or 74 cents per share, compared to a loss of $23.35 million, or $1.10 per share, in the same period in 2025. Revenue increased by 2.7% to $469.08 million from $456.74 million.
In logistics operations, revenue rose by 7.25% to $44.78 million in Q3 from $41.75 million in the same period last year.
During the quarter, total loads fell to 89,066 from 93,853, and average trucks decreased to 2,010 from 2,069.
PAMT shares (NASDAQ: PAMT) closed on Tuesday at $11.89, down 24 cents or 1.98%. In the past 52 weeks, the stock has traded between $7.15 and $17.75.