Home Profit statement Trucker PAM Delivers Record Second Quarter Results

Trucker PAM Delivers Record Second Quarter Results


Tontitown’s trucking company PAM Transportation Services Inc. posted record revenue and profits for its second quarter and declared a 2-for-1 stock split, the company said.

The company reported net income of $ 15.3 million or $ 2.66 per share for the second quarter, which ended June 30, compared with a loss of $ 820,000 or 14 cents per share for the period. of the previous year. No analyst has offered earnings estimates for PAM’s second quarter, according to YahooFinance.

Revenue was $ 161.3 million for the second quarter, up 73.4% from $ 94 million for the same quarter in 2020. Only one analyst reported a figure of ‘business of $ 136.8 million for the second quarter of 2021.

“Only a year ago, we were scrambling to find replacement freight, as many of our largest customers responded to the pandemic by completely suspending operations. Today, barely a year later and with a redesigned network, we are happy to report record revenues. and a record operating profit for the quarter, “said Joe Vitiritto, president of the company, in a statement.” I have been truly impressed with the progress our team has made in such a short period of time, and I want to thank our driving associates for the work they put in every day. “

On July 13, the company’s board of directors declared a 2-for-1 stock split for its common stock, payable Aug. 16 to shareholders of record on July 30, according to the company’s statement.

“With this spin-off, we will be able to increase the availability of our shares and improve liquidity in the market, allowing current and new investors to share in our continued success,” Vitiritto said in a statement.

PAM shares rose on the news. Shares closed at $ 57.30, up $ 2.31 or just over 4% Thursday on the Nasdaq stock exchange. The company’s shares have traded as low as $ 27.76 and as high as $ 66.29 in the past year.

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