Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 145

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 145
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     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 $460.9 million for the year ended December 31, 2023. The decrease relates primarily to a 5.7% decrease in total miles travelled from 189.5 million during the year ended December 31, 2023 to 178.6 million for the year ended December 31, 2024 and to a 3.2% decrease in our rate per mile, from $2.17 for the year ended December 31, 2023 to $2.10 for the year ended December 31, 2024. The reduction in total miles was primarily driven by a 3.1% reduction in the average number of trucks operated combined with a 3.5% reduction in average miles driven by each truck during the year ended December 31, 2024 compared to the year ended December 31, 2023. The reduction in truck count and miles resulted from a less favorable freight market year over year, characterized by an