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Proficient Auto Logistics (PAL) investor relations material
Proficient Auto Logistics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Operating revenue for Q3 2025 rose 24.9% year-over-year to $114.3 million, with unit volumes up 21%, driven by market share gains and acquisitions including Brothers Auto Transport and PVT Truck & Trailer Repair.
Adjusted operating income increased to $4.2 million from $1.1 million in Q3 2024, and profitability improved sequentially and year-over-year, with a 250 basis point improvement in adjusted operating ratio to 96.3%.
Net loss for Q3 2025 was $3.0 million, compared to $1.4 million in Q3 2024, while net loss for the nine months ended September 30, 2025, was $7.8 million, an improvement from $5.2 million in the prior year.
Strategic focus remains on cost control, operational efficiencies, and leveraging scale for synergies, with restructuring charges of $1.9 million expected to yield annual savings over $3 million starting in 2026.
Several acquisitions since IPO have expanded geographic reach and service offerings.
Financial highlights
Operating revenue reached $114.3 million in Q3 2025, up 24.9% year-over-year, and $325.0 million for the nine months ended September 30, 2025, up 120% year-over-year.
Adjusted EBITDA for Q3 2025 was $12.0 million, up from $9.6 million in Q3 2024; for the nine months, adjusted EBITDA was $31.0 million, up 72% from the prior year.
Free cash flow from operations was $11.5 million for Q3 2025; cash flows from operating activities were $25.7 million for the nine months.
Net debt at quarter-end was $64.7 million, or 1.7x trailing 12-month adjusted EBITDA; cash and equivalents at quarter-end were $14.5 million.
Revenue per unit (ex-fuel surcharge) was $173, up 3% year-over-year.
Outlook and guidance
Full-year revenue growth expected in the 10%-12% range over 2024’s $388.8 million base.
Q4 revenue anticipated to be modestly lower than Q3, with similar adjusted operating ratio and cash flow.
2026 planning targets at least a 150 basis point improvement in operating ratio over 2025.
CapEx for 2025 expected at $10 million, with future years likely rising to $15–$20 million as fleet expands; planned capital expenditures for fleet maintenance are $5–10 million annually, with flexibility for additional purchases.
Management expects to fund short-term needs with operating cash flows, credit facilities, and equipment financing.
Sister haul revenue: What is its long-term potential?
What drives the 2026 operating ratio improvement?
How does the non-domiciled CDL rule affect capacity?
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Next Proficient Auto Logistics earnings date
Q4 20259 Mar, 2026
Next Proficient Auto Logistics earnings date
Q4 20259 Mar, 2026
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Frequently asked questions
Proficient Auto Logistics, Inc. (PAL) specializes in providing auto transportation and logistics services across North America. The company's primary focus is on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a comprehensive network of automotive dealerships. Headquartered in Jacksonville, Florida, Proficient Auto Logistics, Inc. is traded on the NASDAQ.
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