Pamt Corp. (NASDAQ:PAMT) Reports Q4 Net Loss of $29.3M, Fifth Consecutive Quarterly Loss

Pamt Corp. (NASDAQ:PAMT) reported a net loss of $29.3 million, or $1.40 per share, for the fourth quarter ended January 31, 2026, marking its fifth consecutive quarterly loss. Excluding a $26.5 million auto-liability reserve adjustment for a claim exceeding policy limits, the adjusted loss was $9.4 million, or 45 cents per share, down from 36 cents per share in the same period of 2024. Revenue fell 15% year-over-year to $141 million. Auto-related revenue, roughly one-third of total revenue, declined amid ongoing tariff pressures. The TL segment reported a 10% drop in average trucks in service, 12% lower revenue per truck per week, 2% fewer loaded miles, and a 9% decline in revenue per loaded mile to $2.12 (excluding fuel). The TL segment’s adjusted operating ratio was 114%, 700 bps worse than the prior year. Salaries, wages and benefits rose 240 bps of revenue, and depreciation was 200 bps higher, excluding a prior-year item. Logistics revenue declined 10% y/y to $40 million, with the operating ratio at 99.2%, down 90 bps from the prior year. Operating cash flow totaled $17 million; liquidity of $144 million was $31 million lower than in the third quarter, and debt of $334 million was $8 million lower sequentially.