PAMT CORP
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
PAMT CORP
Form 10-Q
For the Quarter Ended September 30, 2025
| Part I. Financial Information | ||
|---|---|---|
| Item 1. | Financial Statements (unaudited). | 3 |
| Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Operations for the Nine Months Ended September 30, 2025 and 2024 | 4 | |
| Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024 | 5 | |
| Condensed Consolidated Statement of Stockholders’ Equity for the Nine Months Ended September 30, 2025 and 2024 | 6 | |
| Notes to Condensed Consolidated Financial Statements as of September 30, 2025 | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations. | 16 |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk. | 22 |
| Item 4. | Controls and Procedures. | 23 |
| Part II. Other Information | ||
| Item 1. | Legal Proceedings. | 24 |
| Item 1A. | Risk Factors. | 24 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds. | 25 |
| Item 5. | Other Information. | 25 |
| Item 6. | Exhibits. | 26 |
| Signatures | 27 | |
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
PAMT CORP AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share data)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $68,760 | $68,060 |
| Accounts receivable-net: | ||
| Trade, less current estimated credit loss of $8,253 and $6,636, respectively | 76,257 | 79,967 |
| Other | 5,492 | 4,854 |
| Inventories | 2,272 | 2,433 |
| Prepaid expenses and deposits | 8,033 | 11,555 |
| Marketable equity securities | 46,802 | 42,620 |
| Income taxes refundable | 2,526 | 2,281 |
| Total current assets | 210,142 | 211,770 |
| Property and equipment: | ||
| Land | 29,324 | 30,426 |
| Structures and improvements | 55,723 | 53,620 |
| Revenue equipment | 681,668 | 733,181 |
| Office furniture and equipment | 17,201 | 19,263 |
| Total property and equipment | 783,916 | 836,490 |
| Accumulated depreciation | (282,625) | (309,272) |
| Net property and equipment | 501,291 | 527,218 |
| Other assets | 3,814 | 2,666 |
| TOTAL ASSETS | $715,247 | $741,654 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $33,058 | $31,198 |
| Accrued expenses and other liabilities | 15,721 | 14,569 |
| Current maturities of long-term debt | 68,831 | 73,017 |
| Total current liabilities | 117,610 | 118,784 |
| Long-term debt - less current portion | 273,596 | 252,565 |
| Deferred income taxes | 84,030 | 92,547 |
| Other long-term liabilities | 499 | 250 |
| Total liabilities | 475,735 | 464,146 |
| COMMITMENTS AND CONTINGENCIES (Note L) | ||
| STOCKHOLDERS' EQUITY | ||
| Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued | - | - |
| Common stock, $.01 par value, 100,000,000 shares authorized; 22,377,606 and 22,364,120 shares issued; 20,926,020 and 21,782,534 shares outstanding at September 30, 2025 and December 31, 2024, respectively | 224 | 224 |
| Additional paid-in capital | 41,459 | 41,171 |
| Treasury stock, at cost; 1,451,586 and 581,586 shares at September 30, 2025 and December 31, 2024, respectively | (28,924) | (13,996) |
| Retained earnings | 226,753 | 250,109 |
| Total stockholders’ equity | 239,512 | 277,508 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $715,247 | $741,654 |
See notes to condensed consolidated financial statements.
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