PAMT Cuts Empty Miles but Posts Seventh Straight Operating-Loss Quarter

PAMT reported a $10.4 million operating loss for the second quarter, marking the parent company of P.A.M. Transport’s seventh consecutive quarter without operating income. Trucking Dive published the results August 11. The loss widened from a nearly break-even first quarter, although PAMT’s $7.4 million consolidated net loss improved both sequentially and from the same period last year.

The operating details show why a single bottom-line figure does not tell the entire story. Miles per truck per day increased 12.8% year over year, exposure to empty miles declined and rate per total mile improved meaningfully from the previous quarter. PAMT also reduced underused equipment. Its average company-driver tractor count was 1,540, compared with 1,551 in the first quarter and 1,579 a year earlier.

Management said tighter driver supply could support further rate correction, but that outlook is not guaranteed revenue. The carrier last recorded operating income in the third quarter of 2024, so improved utilization still must overcome fixed costs, equipment expense and an uneven freight environment. PAMT also promoted Daniel Kleine to chief financial officer effective July 30, adding new financial leadership during the turnaround effort.

Small fleets can take a practical lesson from the operating metrics. Track loaded and empty miles separately, measure revenue and variable cost per total mile, and remove equipment only after checking whether the remaining tractors can serve profitable lanes reliably. Drivers considering a carrier should look beyond fleet size or a quarterly loss and ask about consistent miles, maintenance support, home time and pay for non-driving work. PAMT’s quarter shows genuine productivity gains, but sustained operating profit—not one improved metric—will determine whether the turnaround is complete.