Home Profit statement Trucker PAM Delivers Record Second Quarter Results

Trucker PAM Delivers Record Second Quarter Results

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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.

Print title: Trucker PAM reports second quarter results


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