PAMT Corp names Lance K. Stewart as CEO
Leadership Changes: PAMT has promoted Lance K. Stewart to President and CEO, effective August 4, 2025, while Matthew T. Moroun will return to his role as Chairman of the Board after serving as interim CEO.
Financial Officer Transition: Daniel C. Kleine will take on the role of principal financial and accounting officer until a permanent CFO is appointed, with a national search underway for an additional executive in an operational capacity.
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PAMT CORP Reports Third Quarter Results for the Period Ending September 30, 2025
Financial Performance: PAMT CORP reported total revenues of $150.3 million for Q3 2025, a 17.7% decrease year-over-year, resulting in a net loss of $5.6 million and a diluted loss per share of $0.27.
Operating Metrics: The company's operating ratio was 103.8%, indicating higher operating expenses relative to revenues, with significant declines in both operating income and cash flow compared to the previous year.
Liquidity and Debt: As of September 30, 2025, PAMT CORP had $175.4 million in cash and liquid assets, with total outstanding debt increasing to $342.4 million, reflecting a $16.9 million rise since the end of 2024.
Market Context and Risks: The company faces various risks including industry capacity issues, economic downturns, and operational challenges, which could impact future performance and financial stability.
PAMT CORP Announces Executive Promotions
Leadership Changes at PAMT CORP: Lance K. Stewart has been promoted to President and CEO of PAMT CORP effective August 4, 2025, while Matthew T. Moroun will return to his role as Chairman after serving as interim CEO. Daniel C. Kleine will take over as the principal financial officer until a new CFO is appointed.
Background of New Executives: Lance K. Stewart has a long history with the company, having held various roles since 1989, while Daniel C. Kleine has experience in finance and tax roles from previous positions at P.A.M. Transport and George's, Inc.