TONTITOWN, Ark., April 14, 2020 -- P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) today reported operating income of $9.5 million for the quarter ended March 31, 2020.

Unfortunately for some shareholders, the P.A.M. Transportation Services (NASDAQ:PTSI) share price has dived 31% in the...

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...

Celadon Group plans to sell its trucking terminal in Laredo, Texas, to P.A.M. Transportation Services for $19.8 million, according to a filing in U.S. Bankruptcy Court for the District of Delaware. The sale appears set to close imminently, after P.A.M. Transportation Services signed a purchase agreement last Wednesday. The trucking terminal, located just off Interstate 35, sits on 53.15 acres about 19 miles north of the U.S.-Mexico border.

P.A.M. Transportation (PTSI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

P.A.M. Transportation Services, Inc. (NASDAQ:PTSI), which is in the transportation business, and is based in United...

P.A.M. Transportation Services (NASDAQ: PTSI) held on through the COVID-19-related automotive plant shutdowns to post adjusted first quarter 2020 results close to the record-setting pace of a year ago."We started off 2020 with very strong operating results as both January and February each ranked in the top three best January and February operating results in the company's history. March started off strong, and then of course we encountered the very unexpected chain of events that took place around the world," said President and CEO Dan Cushman.Despite roughly 45% of its revenue base shutting down in mid-March, the carrier managed to post consolidated revenue growth of 0.4% year-over-year at $129.2 million.P.A.M. Transportation is a hauler for many of the large automotive original equipment manufacturers (OEMs), which began to idle plants and production in March in response to the growing pandemic.The company has been through this type of sudden shutdown recently. Last fall, its largest customer, General Motors Company (NYSE: GM), suffered a 40-day shutdown during the United Auto Workers labor strike. This resulted in the carrier scrambling to find freight for 400 drivers in its network."Fortunately, we have also developed a strong non-automotive customer base over the last 10 years, many of which provide what was deemed ‘essential goods' during this crisis. We were able to redeploy drivers that had been hauling automotive freight to those customers," said Cushman.Noting that there was still a "sizable void," the carrier looked outside of its normal customer list to find freight, asking "friends in the industry" – their competitors – for help."It seems any transportation provider that was involved in hauling for customers that supplied ‘essentials' were covered up in freight, and without exception, those providers took us up on our offer of capacity," continued Cashman.In the quarter, the carrier reported total miles just slightly under the year-ago period with empty miles increasing 30 basis points to 7.8%. Revenue per loaded mile excluding fuel increased 2.1% to $1.83, but revenue per truck per week dipped 4.3% to $3,355. P.A.M. Transportation's Key Performance IndicatorsView more earnings on PTSIP.A.M. Transportation responded quickly as OEMs began to idle plans. The carrier started trimming its nondriver workforce on March 20."To finish the first quarter with as strong of an operating profit as we did was as impressive a display of execution from our team as I've ever seen. While it seems as if the extremely tight capacity issues resulting from the surge shipping of ‘essentials' calmed down around the first full week of April, I think PAM Transport is well-positioned to keep our fleet productive over the next few weeks in anticipation of the automotive OEMs resuming production," said Cushman.Cushman said that all of the automotive OEMs have planned returns scheduled for the end of April or early May. Further, the freight that the company has picked up to fill the void has Cushman expecting the company to be "well-positioned for the economic recovery."Cushman said that the company is seeing "very strong" results from its Mexico division, which should be further bolstered by the recent acquisition of a new terminal in Laredo. P.A.M. Transportation saw 36% of its cargo cross the Mexican border in 2019.The logistics group had a tough quarter as volumes surged when consumers looked to fill their cabinets with groceries and household essentials as lockdowns went into effect. As truck capacity tightened, logistics providers were forced to pay up. This caused P.A.M. Transportation's logistics margin to deteriorate 510 basis points in the quarter.  "We continue to add customers to our Logistics division, but currently buying partner-carrier capacity is coming at a cost that challenges margins," said Cushman.The Tontitown, Arkansas-based carrier reported first-quarter adjusted earnings per share of $0.88, $0.04 better than the consensus estimate.At the end of 2019, the company had $29.8 million in cash and marketable securities. In the first quarter of 2020, broad stock market declines resulted in an $8.8 million unrealized noncash loss associated with declines in the company's equity investments. Including the noncash loss, the carrier posted a $1.3 million, or $0.23 per share, net loss in the first quarter.Additional liquidity includes the company's $60 million line of credit, which had $42.6 million of availability at the end of 2019. At the time, the company was within its 4x debt-to-earnings before interest, taxes, depreciation and amortization (EBITDA) covenant at nearly 3.5x leveraged.No balance sheet update was provided with the company' earnings report. The company includes a balance sheet with its quarterly 10-Q filing with the U.S. Securities and Exchange Commission, typically two weeks after its quarterly earnings results are released.See more from Benzinga * P.A.M. Transportation Lays off 75 Employees, Mostly Nondrivers(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

PAM Transportation Services is seeking to buy bankrupt Celadon Group's Mexican business, including carrier Jaguar Transportation, for $7 million, court filings show.  Celadon disclosed the proposed deal ...

TONTITOWN, AR / ACCESSWIRE / April 17, 2020 / P.A.M. Transportation Services, Inc. (PTSI) (the "Company") today announced that due to the ongoing public health impact of the COVID-19 pandemic and to support the health and well-being of its stockholders, the Company has changed the location of its 2020 annual meeting of stockholders to be held on April 29, 2020. The Annual Meeting will now be held at the Company's corporate offices located at 297 West Henri De Tonti Boulevard, Tontitown, Arkansas, at 10:00 a.m. local time. To protect the health and safety of those attending the Annual Meeting, only stockholders as of the record date March 10, 2020 (the "Record Date") will be entitled to attend the meeting or any adjournments thereof.

Unfortunately for some shareholders, the P.A.M. Transportation Services (NASDAQ:PTSI) share price has dived 55% in the...

TONTITOWN, AR / ACCESSWIRE / April 30, 2020 / P.A.M. Transportation Services, Inc. (PTSI) (the "Company") today announced that Daniel H. Cushman, President and Chief Executive Officer of the Company, has notified the Company that he intends to retire after eleven years as President and CEO of the Company effective May 1, 2020. Mr. Cushman will remain in an advisory role with the Company until July 31, 2020. The Company will commence an internal and external national search for a new CEO.

P.A.M. Transportation (PTSI) delivered earnings and revenue surprises of -79.41% and -6.87%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Stocks are trading below Peter Lynch value Continue reading...

Those holding P.A.M. Transportation Services (NASDAQ:PTSI) shares must be pleased that the share price has rebounded...

P.A.M. Transportation Services, Inc. (PTSI) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.

AerCap on the list Continue reading...

Bankrupt Celadon Group says employees in Mexico recently resumed "limited operations" of its transportation business there using the company's cash receivables after initiating a series of labor disputes, court filings show. Celadon made puzzling disclosures in two Feb. 21 filings in U.S. Bankruptcy Court connected to its efforts to sell Mexican subsidiaries, including Jaguar Transportation, and selected assets to PAM Transportation Services for $7 million. "Recently, the Mexican Debtors' employees recommenced limited operations of the Mexican Business using cash proceeds of accounts receivable generated and collected by the Mexican Debtors," the company said in a filing.

P.A.M. Transportation Services (NASDAQ: PTSI) confirmed it has temporarily laid off approximately 75 employees, mostly "non-essential to daily operations" in response to recent coronavirus-related auto plant closures.Responding to an email from FreightWaves, P.A.M. Transportation CEO Dan Cushman said 65 employees were laid off on Friday, "very few" of whom were drivers. Cushman said he doesn't anticipate a "wave 2" of layoffs but that "about 10 employees" were released from duty Tuesday.Cushman said the reduction in staff was directly related to "auto plants shutting down."The dry van truckload (TL) carrier, which gets much of its revenue from the country's largest original equipment manufacturers (OEMs), is used to adjusting operations and staffing levels as OEM production schedules change.In its third-quarter 2019 earnings report released in October, the Tontitown, Arkansas-based carrier announced that it had successfully redeployed "approximately 400 drivers affected" by the United Auto Workers labor strike against General Motors Company (NYSE: GM), which began on Sept. 16. During the GM strike, the company leaned on its sales team to find replacement freight to keep those drivers seated in trucks.The six-week strike resulted in losing only 12 of those 400 drivers. In that time period, the company actually increased its overall driver count by six. During the fourth quarter of 2019, P.A.M. Transportation had an average driver count of 2,112 including owner-operators, an 83-driver increase year-over-year.In 2019, P.A.M. Transportation's five largest customers accounted for approximately 40% of total revenue — General Motors represented 19%, Fiat Chrysler Automobiles (NYSE: FCAU) accounted for 9% and Ford Motor Co. (NYSE: F) contributed 7%. The other two customers are not listed by name in the company's filings with the U.S. Securities and Exchange Commission.40% of the company's 2019 total revenue derived from transportation services to the automobile industry.Through a myriad of obstacles in 2019 that included border-crossing delays, the GM strike and a lawsuit, the carrier remained profitable, posting full-year net income of $7.9 million. Excluding the impact of a lawsuit settlement over minimum wage law violations, the carrier ended the year with adjusted net income of $23.4 million, basically flat with 2018.Cushman said the transportation industry "stands together" in "this great time of need," referencing the company's recent collaboration with other carriers to create load boards and discuss other opportunities."We have reached out to our entire customer base and I have reached out to my friends in the industry and the response has been great. There does not seem to be any sense of a ‘competitor' mentality," Cushman added.Cushman said those "friends in the industry" include many members of the Arkansas Trucking Association, like ArcBest Corporation (NASDAQ: ARCB), USA Truck, Inc. (NASDAQ: USAK), FedEx Corporation (NYSE: FDX), CalArk, Walmart Inc. (NYSE: WMT), J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) and non-Arkansas-based carriers like U.S. Xpress Enterprises, Inc. (NYSE: USX) and Dart Transit.P.A.M. Transportation has made moves to bolster its cross-border business in 2020, given an expected increase in automotive-related cross-border shipments. The United States-Mexico-Canada Agreement (USMCA), which was signed into law on Jan. 29, mandates an increase in the percentage of North American duty-free produced automotive parts from 62.5% to 75% by 2023.At the end of January, P.A.M. Transportation acquired bankrupt carrier Celadon Group's 53-acre Laredo, Texas, terminal for $19.8 million. In February, the carrier was listed in court filings as the potential buyer of Celadon's Mexican business, including carrier Jaguar Transportation, in a proposed million deal.However, Cushman said Tuesday that the company has ended its efforts to acquire Jaguar.P.A.M. Transportation already owns a cross-dock facility in Laredo near the World Trade Bridge, approximately 12 miles from the newly acquired facility."I'm optimistic we will be back full strength soon," concluded Cushman.Shares of PTSI were up 11% late Tuesday afternoon but have lost roughly half their value since the market selloff began in the last week of February.See more from Benzinga * Temporary Operating Authority Gives Private Fleets Chance To Get Moving Again * Daimler, PACCAR Join Rivals In Suspending Truck Production * Gallagher Marine Donates Masks To First Responders(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

TONTITOWN, Ark., Feb. 24, 2020 -- P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) today reported a net loss of $13.6 million, or diluted and basic loss per share of $2.37,.

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll apply a...