Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 279

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 2
Chunk 279
---
 makes a comparison of changes in expenses as a percentage of revenue more meaningful than absolute dollar changes.

    - 21 -

Results of Operations - Truckload Services

The following table sets forth, for truckload services, the percentage relationship of expense items to operating revenues, before fuel surcharges, for the periods indicated. Operating supplies and expenses are shown net of fuel surcharges.

      Years Ended December 31, 

      2024 

      2023 

      2022 

      Operating revenues, before fuel surcharge 

     100.0
     %

     100.0
     %

     100.0
     %

      Operating expenses: 

      Salaries, wages and benefits 

     38.9

     37.8

     31.3

      Operating supplies and expenses, net of fuel surcharge 

     11.8

     11.8

     6.8

      Rent and purchased transportation 

     26.1

     23.5

     26.0

      Depreciation 

     23.3

     13.8

     11.3

      Impairment Loss 

     1.5

     -

     -

      Insurance and claims 

     4.6

     6.7

     6.0

      Other 

     4.8

     4.4

     2.9

      Loss(gain) on sale or disposal of property 

     0.2

     (0.3
     )

     (0.6
     )

      Total operating expenses 

     111.2

     97.7

     83.7

      Operating (loss)income 

     (11.2
     )

     2.3

     16.3

      Non-operating income 

     1.9

     1.2

     0.5

      Interest expense 

     (2.9
     )

     (1.6
     )

     (1.2
     )

      Income before income taxes 

     (12.2%
     )

     1.9
     %

     15.6
     %

2024 Compared to 2023

For the year ended December 31, 2024, truckload services revenue, before fuel surcharges, decreased 8.4% to $422.0 million as compared to $