Pamt Corp (PAMT) Q2 2026 earnings summary

Executive summary

• Net loss improved to $7.4M for Q2 2026 from $9.6M in Q2 2025; six-month net loss improved to $7.5M from $17.8M year-over-year.

• Diluted loss per share was ($0.36) for both Q2 and the first six months of 2026, compared to ($0.46) and ($0.83) in 2025.

• Total revenues rose 8.9% year-over-year to $164.7M for Q2 2026, with improved truck productivity and reduced uncompensated empty miles.

• A one-time $3.1M accrual for prior-year auto liability claims increased net loss by $2.3M after-tax, or $0.11 per share.

• Truckload services revenue declined, while brokerage and logistics services revenue grew significantly.

Financial highlights

• Total operating revenues for Q2 2026 were $164.7M, up from $151.1M in Q2 2025; six-month revenues were $306.5M, flat year-over-year.

• Operating loss for Q2 2026 was $10.4M, improved from $11.1M in Q2 2025; six-month operating loss was $10.7M, improved from $20.3M.

• Operating expenses rose to $175.1M from $162.2M, driven by higher insurance and claims costs.

• Non-operating income rose to $5.1M in Q2 2026 from $2.3M in Q2 2025, driven by realized and unrealized gains on marketable securities.

• Cash and cash equivalents were $18.2M at June 30, 2026, down from $35.2M at December 31, 2025.

Outlook and guidance

• Plans to purchase 239 new trucks and 350 new trailers in the remainder of 2026, with net capital expenditures expected at $32.1M.

• No plans to pay cash dividends; focus remains on reinvesting earnings and opportunistic share repurchases.

• Management expects continued operational efficiencies from cost control and network optimization.

• Sequential rate per total mile increased for the first time in over three years, with further rate improvements anticipated.