Losses continue at TL carrier Pamt Corp.
Truckload carrier Pamt Corp. reported its sixth consecutive quarterly loss with revenue per loaded mile down 8% to $2.06, driven by declining truck capacity and automotive industry exposure amid new tariffs. The company's operating ratio hit 119% excluding real estate gains, indicating severe operational inefficiency.
Pamt's struggles reflect broader trucking capacity constraints and rising shipping costs that will hit ecommerce sellers through higher FBA fees and third-party logistics rates. Sellers should audit their shipping cost assumptions and diversify logistics partners before Q4 peak season.
Carrier consolidation and capacity reduction will drive logistics cost inflation, pressuring already thin ecommerce margins as fulfillment becomes more expensive across all channels.
Review your FBA fee structure in Seller Central - if shipping costs represent >15% of unit economics, consider Seller Fulfilled Prime or regional fulfillment
Negotiate 2027 3PL contracts now before trucking rate recovery accelerates in bid season
Bottom Line
Trucking losses signal higher shipping costs ahead for sellers.
Source Lens
Industry Context
Useful background context, but lower-priority than direct platform, community, or operator intelligence.
Impact Level
medium
Trucking losses signal higher shipping costs ahead for sellers.
Key Stat / Trigger
revenue per loaded mile down 8% to $2.06
Focus on the operational implication, not just the headline.
Full Coverage
Truckload carrier Pamt Corp. reported a small net loss for the first quarter. However, excluding the impacts of a one-time real estate gain and an increase in non-operating income, the loss in the core business was much larger. A headline net loss of $8,000 included the benefit of a $12. 7 million ($9.
7 million after-tax) gain from the sale of a facility in Laredo, Texas. Non-operating income (the change in value of its stock portfolio) was $2. 3 million higher year over year. Pamt booked a net loss of $8. 1 million in the year-ago quarter. The first quarter marked Pamt’s (NASDAQ: PAMT) sixth consecutive quarterly net loss.
Approximately 35% of the company’s revenue is tied to the automobile industry, which is navigating a new trade landscape due to tariffs. Table: Pamt’s key performance indicators The TL unit reported an 8% y/y decline in average trucks in service and an 8% decline in revenue per truck per week.
Loaded miles were flat with revenue per loaded mile down 8% to $2. 06 (excluding fuel surcharges). window. googletag = window. googletag || {cmd: []}; googletag. cmd. push(function() {googletag. defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668545404-0').
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The OR was closer to 119%, excluding the impact of the real estate gain. Salaries, wages and benefits expenses (as a percentage of revenue) increased 130 bps y/y even with a step down in trucks seated by company drivers. (All expense lines are reported on a consolidated basis.) This quarter marked 10 straight operating losses for the TL unit.
SONAR: Van Contract Rate Per Mile Index (VCRPM1. USA) for 2026 (blue shaded area), 2025 (yellow line), 2024 (green line) and 2023 (pink line). The index shows a 7-day moving average of the initial reporting of dry van rate contract rates (without fuel or accessorial charges). To learn more about SONAR, click here.
Logistics revenue was up slightly y/y to $44 million. The OR improved 260 bps y/y to 95. 4%. Pamt doesn’t provide gross profit margins for the unit, nor operating metrics like load counts and revenue per load. The company used $2. 7 million in operating cash flow in the first quarter.
Liquidity (cash, equity holdings and availability on its line of credit) of $141 million was $3 million lower than at year-end 2025. Outstanding debt was reduced by $13 million to $321 million. Pamt said “it intends to more actively implement share repurchases during the second quarter of 2026.”
Shares of PAMT are off 39% over the past year while shares of other publicly traded carriers are up roughly 30% to 55%. Pamt had 473,000 shares remaining for repurchase under an open authorization at the end of the first quarter. window. googletag = window. googletag || {cmd: []}; googletag. cmd. push(function() {googletag.
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Original Source
This briefing is based on reporting from Freightwaves. Use the original post for full primary-source context.
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