Strong automotive freight demand boosted Tonititown, AR-based truckload carrier P.A.M. Transportation Services profits in the first quarter this year. Net income rose 78.5% to $5.18 million on 13.4% higher revenues of $90.8 million compared to the same quarter in 2005.
“We experienced strong demand for our services throughout our customer base,” said Robert Weaver, the carrier’s president. He noted that revenue per loaded mile, minus fuel surcharges, increased 12.7% to $1.45 for the first quarter compared to the same period last year, with revenue per tractor increasing 13.9% to $3,480 per week.
“Demand was strong, including our automotive business, which remains an integral part of our customer mix and contributes to our overall operating efficiencies,” Weaver added. “Automotive freight constituted approximately 54% of our total revenue, minus fuel surcharges – a slight gain compared to [last year] largely driven by improved pricing in this segment, as opposed to an increase in the actual shipments handled, which actually decreased.”
