PAMT earnings analysis
What we found in PAMT's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
PAMT’s Q2 2026 revenue increased to $164.652 million, up 8.9% year over year, while diluted EPS improved to a $0.36 loss from a $0.46 loss in the prior-year quarter. The filing does not provide quantitative guidance, and complete current-quarter margin, cash-flow, balance-sheet, and segment data were not available in the supplied filing extract. Litigation remains the principal downside, including a $30.0 million settlement with $26.5 million of net exposure and heightened broker liability risk following the May 2026 Montgomery decision.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue rebounded in Q2
- Q2 2026 revenue was $164.652 million, up 8.9% year over year from approximately $151 million in Q2 2025 and up from $142 million in Q1 2026.
- EPS loss narrowed year over year
- Diluted EPS was a loss of $0.36, improving from a loss of $0.46 in Q2 2025 and the $1.38 loss reported in Q4 2025.
- Share repurchases resumed
- The company repurchased 3,401 shares during May 2026 at an average price of $10.87 per share; 469,444 shares remained available under the repurchase program at June 30, 2026.
- Controls remained effective
- Management reported that disclosure controls were effective as of June 30, 2026, and stated that no changes in internal control over financial reporting materially affected, or were reasonably likely to materially affect, controls during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Material auto-liability exposure
- The company settled a motor-vehicle accident lawsuit for $30.0 million, with $26.5 million representing its net exposure after insurance. The court dismissed the case on May 21, 2026, but the settlement demonstrates the potential for auto-liability claims to materially affect results.
- Claims may exceed insurance
- The company self-insures certain auto-liability layers in excess of $2.0 million and warns that claims exceeding reserves or insurance coverage could materially adversely affect financial condition, results of operations, or cash flows.
- Broker litigation risk increased
- The May 2026 Montgomery decision held that state-law negligent-selection claims against transportation brokers are not preempted by federal law in certain circumstances. PAMT states that brokerage and logistics services represent a meaningful portion of revenue and that the decision could increase litigation frequency and cost, insurance premiums, and compliance spending.
- Unhedged diesel-price exposure
- PAMT does not currently hedge commodity exposure and estimates that a 10% increase in the average annual diesel price would raise annual fuel expense by $5.4 million based on 2025 consumption.
- Equity portfolio remains volatile
- The recorded value of marketable equity securities declined to $38.7 million at June 30, 2026 from $48.5 million at December 31, 2025; a further 10% market-price decline would reduce carrying value by approximately $3.9 million.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.36
What they said about what is next.
The 10-Q does not provide quantitative revenue or EPS guidance, nor does the filing indicate a change to prior outlook. Outlook was addressed in the earnings release/call rather than quantified in this filing.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 8, 2026
- PAMT CORP reported a Q1 2026 revenue of $141.9 million, marginally up from $141 million in the previous quarter but down from $155.3 million year-over-year. The company achieved an EPS of $0.00, reflecting a substantial…
- 10-K · March 12, 2026
- PAMT reported a weak Q4 2025 quarter with revenue of $141,317,000 (miss vs. consensus $160,400,000) and diluted EPS of -$0.45 (miss vs. consensus -$0.20). Results show sharply compressed operating margins (Q4 op %…
- 10-Q · November 5, 2025
- P.A.M. reported Q3 2025 revenue of $150,264,000 and a consolidated net loss of $5,587,000 (diluted loss per share $0.27), a deterioration versus the comparable quarter a year earlier. Truckload and Brokerage revenues…
- 10-Q · May 7, 2024
- P.A.M. Transportation reported Q1 2024 revenue of $182,592,000, down $39,132,000 (-17.7%) versus Q1 2023. Operating income swung to an operating loss of $677,000 from operating income of $8,499,000 a year ago, and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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