Company: PAMT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033356
Chunk: 32

Company: PAMT CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 32
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100.0

     100.0

     100.0

     100.0

      Operating expenses: 

      Salaries, wages and benefits 

     5.6

     5.0

     5.6

     4.8

      Rent and purchased transportation 

     90.2

     86.8

     89.4

     86.4

      Other 

     3.3

     2.5

     3.6

     2.8

      Total operating expenses 

     99.1

     94.3

     98.6

     94.0

      Operating income 

     0.9

     5.7

     1.4

     6.0

      Non-operating income 

     0.1

     0.3

     0.1

     0.3

      Interest expense 

     (0.2
     )

     (0.3
     )

     (0.3
     )

     (0.5
     )

      Income before income taxes 

     0.8

     5.7

     1.2

     5.8

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

During the third quarter of 2025, logistics and brokerage services revenue, before fuel surcharges, decreased 16.8% to $41.8 million as compared to $50.2 million during the third quarter of 2024. The decrease was primarily related to a 28.8% decrease in the number of brokered loads during the third quarter 2025 as compared to 2024.

Rents and purchased transportation increased from 86.8% of revenues, before fuel surcharges, during the third quarter of 2024 to 90.2% of revenues, before fuel surcharges, during the third 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 94.3% for the third quarter of 2024 to 99.1% for the third quarter of 2025.