P.A.M. Transportation Services Announces Financial Results for the Second Quarter

P.A.M. Transportation Services, Inc. recently released a news report detailing its financial performance for the second quarter ending on September 30, 2024. The company’s latest financial results were disclosed in a news release issued on October 24, 2024.

In the disclosed report, specific details about the financial results for the mentioned quarter were highlighted. As indicated, P.A.M. Transportation Services, Inc. showcased its financial accomplishments through key performance indicators such as net income, total loans, total deposits, noninterest expenses, and efficiency ratios.

For the third quarter of 2024, the company reported an annualized return on assets and adjusted return on assets of 1.00% and 1.02%, respectively. Notably, total loans saw an increase of $8.8 million, amounting to $2.32 billion at the end of September 30, 2024. Additionally, total deposits increased by $9.3 million to $2.47 billion compared to the previous quarter, with a decrease in brokered deposits by $69.4 million over the quarter.

The company’s net interest margin for the third quarter was reported at 3.82%, and noninterest expenses decreased by $448 thousand to $18.5 million in the third quarter of 2024. Net income was confirmed at $7.1 million with an adjusted pre-tax pre-provision net income of $9.38 million for the third quarter.

P.A.M. Transportation Services, Inc. further highlighted its total assets amounting to $2.88 billion, a shareholders’ equity of $277.4 million, and a 3.82% net interest margin. Additionally, their return on equity (ROE) was noted at 10.30%, and their return on tangible common equity (ROTCE) stood at 14.68%.

As part of its ongoing operations, the company has reiterated its commitment to maintaining a quarterly dividend of $0.075 per share of common stock. It anticipates capital ratios to escalate with an increasing earnings trajectory and looks forward to continuing targeted loan growth.

Investors and stakeholders keen on P.A.M. Transportation Services, Inc.’s financial stance and strategic outlook can refer to the company’s latest disclosed financial information to gain further insight. For additional information and detailed financial metrics, interested parties are encouraged to consult the company’s filings with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read P.A.M. Transportation Services’s 8K filing here.

P.A.M. Transportation Services Company Profile

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.