PAM Transportation Q1 2023 operating income down 73%; diluted EPS falls 78% to $0.23

PAMT CORP

2023-Q1 EPS reported $0.23 revenue$221,724,000

Total revenues $221.7M (+1.0% YoY); operating income $8.5M (-72.9%).
Non-GAAP adjusted operating income $18.5M (-46.7%); adjusted diluted EPS $0.57 (-51.7%).
Operating ratio worsened to 96.2% from 85.7% YoY (up 1050 bps).
Generated $34.2M operating cash flow; total debt $251.3M decreased $13M from Dec 31.
Results include litigation charges for claims in excess of insurance policy limits.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PAMT CORP reported first quarter ended March 31, 2023 results: revenue $221.7 million, net income $5.2 million, EPS $0.23.

Period: first quarter ended March 31, 2023
Revenue: $221.7 million
Net income: $5.2 million
EPS: $0.23
Result: reported results

Exact text from the filing

First Quarter 2023 Summary Results ● Total revenues of $221.7 million, up 1.0% YoY ● Operating income of $8.5 million, down 72.9% YoY; non-GAAP adjusted operating income of $18.5 million, down 46.7% YoY ● Operating ratio of 96.2%, an increase of 1050 bps YoY; non-GAAP adjusted operating ratio of 90.4%, an increase of 810 bps YoY ● Diluted EPS of $0.23, down 78.3% YoY; non-GAAP adjusted diluted EPS of $0.57, down 51.7% YoY Tontitown, Arkansas, April 24, 2023...... P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) ("the Company") today reported net income of $5.2 million, or diluted earnings per share of $0.23 ($0.24 basic), for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001437749-23-010974

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