Earnings release
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PAMT CORP ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED JUNE 30 , 2026 Second Quarter 2026 Summary Results Total revenues of $ 164.7 million , up 8.9 % YoY Operating loss of $ 10.4 million Operating ratio of 106.3 % Net loss of $ 7.4 million Exhibit 99.1 Diluted loss per share of $ 0.36 Tontitown , Arkansas , August 4 , 2026 ...... PAMT CORP ( NASDAQ : PAMT ) ( " we " or the " Company " ) today reported consolidated net loss of $ 7.4 million , or diluted and basic loss per share of $ 0.36 , for the quarter ended June 30 , 2026. These results compare to consolidated net loss of $ 9.6 million , or diluted and basic loss per share of $ 0.46 , for the quarter ended June 30 , 2025. The second quarter 2026 operating results include a one - time accrual of $ 3.1 million related to auto liability claims from prior years that may exceed insurance limits , which increased net loss by $ 2.3 million on an after - tax basis , or $ 0.11 per diluted share . Consolidated operating revenues increased 8.9 % to $ 164.7 million for the second quarter of 2026 when compared to $ 151.1 million for the second quarter of 2025 . Lance Stewart , President of the Company , commented , " We are pleased with the measurable progress reported in several key operating metrics during the second quarter . Truck productivity , measured in miles per truck per day , increased 12.8 % year over year , while uncompensated empty miles improved from 8.9 % in the second quarter of 2025 to 7.4 % in the second quarter of 2026. We also continue to remove costs , including underutilized equipment , from the network . These results reflect our disciplined focus on cost control and our commitment to a well - defined freight network , which we expect to continue supporting operational efficiencies . " For the first time in more than three years , market conditions enabled a meaningful sequential increase in rate per total mile . This marks an important step toward addressing rates that have been pressured lower while inflationary cost pressures have persisted . As industry dynamics continue to constrain driver supply , we believe opportunities for further rate correction remain , and we have achieved additional progress through the date of this release . " As always , we appreciate our employees ' loyalty and dedication to our mission , which remain essential to sustainable success . " Liquidity , Capitalization , and Cash Flow As of June 30 , 2026 , we had an aggregate of $ 116.7 million of cash , marketable equity securities , and available liquidity under our line of credit and $ 203.1 million of stockholders ' equity . Outstanding debt was $ 332.8 million as of June 30 , 2026 , which represents a $ 1.1 million decrease from December 31 , 2025. During the first half of 2026 , we used $ 16.7 million in operating cash flow .
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Chief Financial Officer Appointment The Company also announced that Daniel C. Kleine has been appointed Chief Financial Officer of the Company effective July 30, 2026. Mr. Kleine joined the Company in June 2023 as Vice President of Tax of P.A.M. Transport, Inc., the Company’s primary operating subsidiary, and has served as the Company’s Senior Vice President of Finance and Treasurer since August 2025 and as Senior Vice President of Finance of P.A.M. Transport since June 2025. Prior to joining the Company, Mr. Kleine served in various tax accounting roles at George’s, Inc., a privately owned poultry processing company headquartered in Northwest Arkansas, from June 2017 to June 2023. He previously served as Senior Tax Accountant at Frost, PLLC in Little Rock, Arkansas from August 2013 to June 2017. Mr. Kleine is a Certified Public Accountant and holds bachelor’s degrees in accounting and finance, with a minor in economics, from the University of Arkansas, Fayetteville, and a master’s degree in accounting from the University of Arkansas, Little Rock. About PAMT CORP PAMT CORP is a holding company that owns subsidiaries engaged in providing truckload dry van carrier services transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company’s consolidated operating subsidiaries also provide transportation services in Mexico through its gateways in Laredo and El Paso, Texas, under agreements with Mexican carriers. Forward-Looking Statements Certain information included in this document constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results, prospects, plans or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, increases in compensation for and difficulty in attracting and retaining qualified drivers and owner-operators, including as a result of recent regulatory initiatives impacting driver capacity, to meet available freight demand; general inflation, recessionary economic cycles and downturns in customers' business cycles; a significant reduction in or termination of the Company's trucking service by a key customer, including as a result of labor or international trade disruptions; increases or rapid fluctuations in fuel prices, interest rates, fuel taxes, tolls, and license and registration fees; excess capacity in the trucking industry; surplus inventories; the resale value of the Company's used equipment; the price and availability of new equipment consistent with anticipated acquisitions and replacement plans; increases in insurance premiums and deductible amounts relating to accident, cargo, workers' compensation, health, and other claims; increases in the number or amount of claims for which the Company is self-insured; inability of the Company to continue to secure acceptable financing arrangements; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors including reductions in rates resulting from competitive bidding; our ability to develop, implement and govern suitable information technology systems and prevent failures in or breaches, disruptions or unauthorized use of such systems; the impact of pending or future litigation; general risks associated with doing business in Mexico, including, without limitation, exchange rate fluctuations, inflation, import duties, tariffs, quotas, political and economic instability and terrorism; the potential impact of new laws, regulations or policy, including, without limitation, rules regarding the classification of independent contractors as employees, tariffs, import/export, trade and immigration regulations or policies; the impacts of ongoing or future military conflicts and other major domestic or international events; the ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; potential economic, business or operational disruptions or uncertainties that may result from any future public health crises; and other factors, including risk factors, included from time to time in filings made by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise forward- looking statements, whether due to new information, future events or otherwise. Considering these risks and uncertainties, the forward- looking events and circumstances discussed above and in company filings might not transpire.
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PAMT CORP Key Financial and Operating Statistics (unaudited) Quarter Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 (in thousands, except earnings per share) (in thousands, except earnings per share) Revenue, before fuel surcharge $ 136,894 $ 133,806 $ 259,556 $ 270,506 Fuel surcharge 27,758 17,328 46,976 35,969 Operating Revenue 164,652 151,134 306,532 306,475 Operating expenses and costs: Salaries, wages and benefits 41,351 40,851 80,433 81,665 Operating supplies and expenses 36,516 29,028 67,062 60,413 Rent and purchased transportation 64,645 64,866 121,249 127,838 Depreciation 19,337 21,719 38,581 44,315 Insurance and claims 8,738 5,167 13,946 9,948 Other 5,029 4,986 11,642 9,985 Gain on disposition of assets (556) (4,414) (15,702) (7,428) Total operating expenses and costs 175,060 162,203 317,211 326,736 Operating loss (10,408) (11,069) (10,679) (20,261) Interest expense (4,615) (4,032) (9,151) (8,075) Non-operating income 5,078 2,263 9,875 4,749 Loss before income taxes (9,945) (12,838) (9,955) (23,587) Income tax benefit (2,501) (3,211) (2,503) (5,817) Net loss $ (7,444) $ (9,627) $ (7,452) $ (17,770) Diluted loss per share $ (0.36) $ (0.46) $ (0.36) $ (0.83) Average shares outstanding – Diluted 20,943 21,095 20,940 21,498 Quarter Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Truckload Operations Total miles (in thousands) (1) 43,567 40,355 84,270 81,571 Operating ratio (2) 114.2% 112.5% 108.9% 111.7% Empty miles factor 7.35% 8.90% 7.61% 8.97% Revenue per total mile, before fuel surcharge (1) $ 1.98 $ 2.04 $ 1.94 $ 2.04 Total loads 90,844 98,814 176,384 193,458 Revenue per truck per workday $ 675 $ 697 $ 647 $ 685 Revenue per truck per week $ 3,375 $ 3,485 $ 3,235 $ 3,423 Average company-driver trucks 1,540 1,579 1,545 1,623 Average owner operator trucks 454 505 454 509 Logistics Operations Total revenue (in thousands) $ 50,820 $ 40,982 $ 95,225 $ 85,254 Operating ratio 96.4% 98.7% 95.9% 98.3%
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PAMT CORP Condensed Consolidated Balance Sheets (unaudited) June 30, December 31, 2026 2025 (in thousands) ASSETS Current Assets: Cash and cash equivalents $ 18,210 $ 35,234 Trade accounts receivable, net 88,930 66,882 Other receivables 4,125 6,757 Inventories 2,610 2,332 Prepaid expenses and deposits 7,728 9,807 Marketable equity securities 38,732 48,488 Income taxes refundable 1,042 1,732 Total current assets 161,377 171,232 Property and equipment 758,944 792,391 Less: accumulated depreciation 259,476 275,554 Total property and equipment, net 499,468 516,837 Other non-current assets 9,486 9,843 Total Assets $ 670,331 $ 697,912 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 27,421 $ 32,752 Accrued expenses and other liabilities 30,599 41,078 Current portion of long-term debt 64,592 65,542 Total current liabilities 122,612 139,372 Long-term debt, net of current portion 268,230 268,327 Deferred income taxes 70,741 73,689 Other long-term liabilities 5,658 6,040 Total liabilities 467,241 487,428 STOCKHOLDERS’ EQUITY Common stock 224 224 Additional paid-in capital 41,788 41,682 Treasury stock, at cost (28,972) (28,924) Retained earnings 190,050 197,502 Total stockholders’ equity 203,090 210,484 Total liabilities and stockholders’ equity $ 670,331 $ 697,912 1) Excludes miles driven by third party power only carriers. 2) The Truckload Operations operating ratio has been calculated based upon total operating expenses, net of fuel surcharge, as a percentage of revenue, before fuel surcharge. We used revenue, before fuel surcharge, and operating expenses, net of fuel surcharge, because we believe that eliminating this sometimes volatile source of revenue affords a more consistent basis for comparing our results of operations from period to period. FROM: PAMT CORP P.O. BOX 188 Tontitown, AR 72770 Daniel C. Kleine (479) 361-9111