Company: PAMT
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025711
Chunk: 79

Company: PAMT CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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     4.8

      Rent and purchased transportation 

     89.9

     86.4

     89.1

     86.2

      Other 

     3.6

     2.6

     3.6

     2.9

      Total operating expenses 

     98.7

     93.9

     98.3

     93.9

      Operating income 

     1.3

     6.1

     1.7

     6.1

      Non-operating income 

     0.1

     0.2

     0.0

     0.2

      Interest expense 

     (0.3
     )

     (0.5
     )

     (0.3
     )

     (0.5
     )

      Income before income taxes 

     1.1

     5.8

     1.4

     5.8

THREE MONTHS ENDED JUNE 30, 2025 VS. THREE MONTHS ENDED JUNE 30, 2024

During the second quarter of 2025, logistics and brokerage services revenue, before fuel surcharges, decreased 23.6% to $41.0 million as compared to $53.7 million during the second quarter of 2024. The decrease was primarily related to a 33.7% decrease in the number of brokered loads during the second quarter 2025 as compared to 2024.

       18

Rents and purchased transportation increased from 86.4% of revenues, before fuel surcharges, during the second quarter of 2024 to 89.9% of revenues, before fuel surcharges, during the second quarter of 2025. The increase results from paying third-party carriers a larger percentage of customer revenue.

The logistics and brokerage services division operating ratio, which measures the ratio of operating expenses, net of fuel surcharges, to operating revenues, before fuel surcharges, increased from 93.9% for the second quarter of 2024 to 98.7% for the second quarter of 2025.

SIX MONTHS ENDED JUNE 30, 2025 VS. SIX MONTHS ENDED JUNE 30, 2024

During the first six months of 2025, logistics and brokerage services revenue, before fuel surcharges,