Pamt Corp (PAMT) investor relations material

Executive summary

• Total operating revenues for Q2 2025 were $151.1 million, down 17.4% year-over-year, with a net loss of $9.6 million and diluted loss per share of $0.46, compared to a $2.9 million loss and $0.13 per share in Q2 2024.

• Six-month net loss was $17.8 million, a significant increase from $2.6 million in the prior year period, driven by lower revenues and higher expenses.

• Operating loss reached $11.1 million, and the consolidated operating ratio deteriorated to 107.3% for Q2 2025.

• Both truckload and brokerage/logistics segments experienced double-digit revenue declines due to reduced freight demand and lower rates.

• Operating ratios deteriorated in both segments, reflecting increased cost pressures and lower asset utilization.

Financial highlights

• Q2 2025 operating revenues: $151.1 million (down from $182.9 million in Q2 2024); six-month revenues: $306.5 million (down from $365.5 million year-over-year).

• Q2 2025 net loss: $9.6 million; six-month net loss: $17.8 million.

• Diluted loss per share: $0.46 for Q2 2025, $0.83 for six months, compared to $0.13 and $0.12 losses in 2024.

• Cash from operations: $17.2 million for the first six months of 2025.

• Outstanding debt increased by $5.7 million since December 31, 2024, reaching $331.2 million.

Outlook and guidance

• Management expects continued capital expenditures of $25.1 million for new trucks and trailers in the remainder of 2025.

• New tax legislation is expected to accelerate tax deductions and reduce cash tax obligations in the second half of 2025.

• Ongoing efforts to amend financial covenants with lenders are underway, with a revised metric anticipated before Q3 2025 ends.