Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________to__________ Nevada 0-1507 71-0633135 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Emp ...

Exhibit 99.1 PAMT CORP ANNOUNCES RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2025 Third Quarter 2025 Summary Results | | | | | | Nine Months Ended September | | | --- | --- | --- | --- | --- | --- | --- | | | Quarter Ended September 30, | | | | 30, | | | | 2025 | 2024 | 2025 | | | 2024 | | | (in thousands, except earnings per | | | | (in thousands, except earnings per | | | | share) | | | share) | | | | Revenue, before fuel surcharge | $ 132,948 $ | 160,799 | $ | 403,455 | $ | 481,980 | | Fuel surchar ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Registrant's telephone number, including area code: (479) 361-9111 N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the S ...

Exhibit 99.1 PAMT CORP ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2025 Second Quarter 2025 Summary Results Tontitown, Arkansas, July 25, 2025...... PAMT CORP (NASDAQ: PAMT) ("we" or the "Company") today reported consolidated net loss of $9.6 million, or diluted and basic loss per share of $0.46, for the quarter ended June 30, 2025. These results compare to consolidated net loss of $2.9 million, or diluted and basic loss per share of $0.13, for the quarter ended June 30, 2024. Operating revenues ...

Part I. Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company reported a Q1 2025 net loss of $8.1 million, a 15% revenue decline to $155.3 million, and decreased assets and operating cash flow [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $712.6 million by March 31, 2025, driven by lower property and equipment, impacting equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$712,641** | **$741,654** | **($29,013)** | | Cash and cash equivalents | $57,072 | $68,060 | ($10,988) | | Net property and equipment | $505,504 | $527,218 | ($21,714) | | **Total Liabilities** | **$443,046** | **$464,146** | **($21,100)** | | Long-term debt (including current) | $309,238 | $325,582 | ($16,344) | | **Total Stockholders' Equity** | **$269,595** | **$277,508** | **($7,913)** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 saw a net loss of $8.1 million and a 15% revenue decline to $155.3 million, resulting in a $9.2 million operating loss Q1 2025 vs Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $155,342 | $182,592 | -15.0% | | Operating Loss | ($9,191) | ($677) | -1257.6% | | Net (Loss)/Income | ($8,142) | $281 | -2997.5% | | Diluted (Loss)/Income Per Share | ($0.37) | $0.01 | -3800.0% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased to $5.0 million in Q1 2025, with overall cash and equivalents declining by $11.0 million Q1 2025 vs Q1 2024 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,996 | $9,585 | | Net cash provided (used) by investing activities | $360 | ($9,802) | | Net cash used for financing activities | ($16,344) | ($20,431) | | **Net Decrease in Cash** | **($10,988)** | **($20,648)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue recognition, marketable securities, segment performance, and a $14.8 million share repurchase - The company's revenue is derived from a single performance obligation: transporting customers' freight. Revenue is recognized over time as the freight progresses towards its destination[25](index=25&type=chunk)[31](index=31&type=chunk) Revenue Breakdown by Service (before fuel surcharge, in thousands) | Service | Q1 2025 Revenue | Q1 2024 Revenue | YoY Change | | :--- | :--- | :--- | :--- | | Truckload Services | $92,429 | $102,200 | -9.6% | | Brokerage and Logistics | $44,272 | $58,769 | -24.7% | - Marketable equity securities had a fair market value of **$45.6 million** as of March 31, 2025, with an unrealized gain of **$16.8 million**[35](index=35&type=chunk) - Subsequent to the quarter end, the company repurchased **870,000 shares** of its common stock for approximately **$14.8 million** through a tender offer[78](index=78&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q1 2025 decline to a challenging freight market, impacting Truckload and Brokerage revenues and operating ratios [Results of Operations – Truckload Services](index=22&type=section&id=Results%20of%20Operations%20%E2%80%93%20Truckload%20Services) Truckload revenue fell 9.6% to $92.4 million in Q1 2025 due to lower miles and rates, worsening the operating ratio to 110.9% - The decrease in truckload revenue was primarily due to a **6.5% decrease in total miles traveled** and a **3.3% decrease in the rate per mile**, from $2.11 to $2.04[89](index=89&type=chunk) - Depreciation expense increased as a percentage of revenue, partly due to a change in accounting estimates in 2024 that reduced the useful lives and salvage values of revenue equipment[93](index=93&type=chunk) - The truckload services operating ratio deteriorated to **110.9%** for Q1 2025, up from 104.2% in Q1 2024[96](index=96&type=chunk) [Results of Operations – Logistics and Brokerage Services](index=24&type=section&id=Results%20of%20Operations%20%E2%80%93%20Logistics%20and%20Brokerage%20Services) Logistics and brokerage revenue declined 24.7% to $44.3 million due to fewer loads, increasing the operating ratio to 98.0% - The revenue decrease was primarily related to a **28.0% decrease in the number of brokered loads** compared to the prior year's first quarter[99](index=99&type=chunk) - The logistics and brokerage services operating ratio increased to **98.0%** for Q1 2025, compared to 93.9% for Q1 2024[101](index=101&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is supported by operations and credit facilities, with $30.2 million in planned capital expenditures and a $14.8 million share repurchase - The company expects to purchase **282 new trucks** and **775 new trailers** during the remainder of 2025, resulting in net capital expenditures of approximately **$30.2 million**[106](index=106&type=chunk) - In May 2025, the company used available cash to purchase **870,000 shares** of its common stock for approximately **$14.8 million** via a tender offer[107](index=107&type=chunk) - As of March 31, 2025, the company had no outstanding borrowings against its **$60.0 million line of credit**, with **$59.8 million available**[109](index=109&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=27&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company faces equity price, interest rate, and diesel fuel risks, with a 10% fuel price increase raising annual expenses by $6.4 million - A hypothetical **10% decrease** in the market price of the company's marketable equity securities would result in a charge of approximately **$4.6 million**[118](index=118&type=chunk) - Based on 2024 fuel consumption, a **10% increase** in the average price of diesel fuel would increase annual fuel expenses by **$6.4 million**[120](index=120&type=chunk) - A hypothetical **100 basis point increase** in SOFR would result in approximately **$120,000** of additional annual interest expense, assuming $12.0 million of variable rate debt was outstanding[119](index=119&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2025, with no material changes to internal controls - The CEO and CFO concluded that as of March 31, 2025, the company's disclosure controls and procedures are **effective** at a reasonable assurance level[123](index=123&type=chunk) - No changes occurred during the quarter ended March 31, 2025, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[125](index=125&type=chunk) Part II. Other Information [Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course litigation, with management expecting no material financial impact - The company is involved in claims and litigation arising from the ordinary course of business and provides accruals for claims within its self-insured retention amounts[128](index=128&type=chunk) [Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors, except for a new risk concerning potential negative impacts of tariffs on trade - A new risk factor was added regarding the imposition of tariffs on Mexico and Canada, which could adversely affect business operations and financial results, particularly the cross-border and Mexico freight business[130](index=130&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=29&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No shares were repurchased under the stock repurchase program during Q1 2025 - No shares were repurchased under the stock repurchase program during Q1 2025[132](index=132&type=chunk) [Other Information](index=29&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the three months ended March 31, 2025[133](index=133&type=chunk) [Exhibits](index=30&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including officer certifications and XBRL data files

Exhibit 99.1 PAMT CORP ANNOUNCES RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025 First Quarter 2025 Summary Results Tontitown, Arkansas, April 23, 2025...... PAMT CORP (NASDAQ: PAMT) (the "Company") today reported a net loss of $8.1 million, or diluted and basic loss per share of $0.37, for the quarter ended March 31, 2025. These results compare to net income of $0.3 million, or diluted and basic earnings per share of $0.01, for the quarter ended March 31, 2024. Operating revenues decreased 14.9% to $155 ...

Revenue and Customer Concentration - Truckload services operating revenues represented 67.1%, 65.3%, and 66.1% of total operating revenues for the years ended December 31, 2024, 2023, and 2022, respectively [26]. - Approximately 62% of the Company's revenues are derived from domestic shipments, while approximately 38% are from freight originating from or destined to locations in Mexico or Canada [27]. - The five largest customers accounted for approximately 39% of total revenues in 2024, with General Motors, Ford, and Walmart contributing 12%, 9%, and 8% respectively [36]. - Approximately 32% of revenues were derived from transportation services provided to the automobile industry during 2024 [38]. - The top five customers accounted for approximately 39% of the company's revenue in 2024, with General Motors Company alone contributing about 12% [88]. - Approximately 32% of the company's revenues for 2024 were derived from transportation services provided to the automobile industry [88]. Operational Performance and Efficiency - The truckload services division operating ratio increased to 111.2% for 2024 from 97.7% for 2023, indicating a decline in operational efficiency [160]. - For the year ended December 31, 2024, truckload services revenue, before fuel surcharges, decreased 8.4% to $422.0 million compared to $460.9 million for 2023 [152]. - The average number of trucks operated decreased by 3.1%, and total miles traveled decreased by 5.7% from 189.5 million in 2023 to 178.6 million in 2024 [152]. - Salaries, wages, and benefits increased from 37.8% of revenues in 2023 to 38.9% in 2024, reflecting the fixed-cost nature of employing human capital [153]. - Depreciation increased significantly from 13.8% of revenues in 2023 to 23.3% in 2024, attributed to changes in accounting estimates related to salvage values and useful lives of revenue equipment [155]. - The combined net income for all divisions fell to $18.4 million, or 2.6% of revenues, in 2023, down from $90.7 million, or 11.1% of revenues, in 2022 [187]. Industry and Market Conditions - The trucking industry generated over $987 billion in revenue during 2023, moving over 11.8 billion tons of freight [32]. - The trucking industry is capital intensive, and insufficient cash generation from operations may limit growth or lead to unfavorable financing arrangements [76]. - New tariffs on imports from Canada and Mexico could adversely affect operations and profitability, particularly in the automotive manufacturing sector [70]. - Diesel fuel represents a significant operating expense, and fluctuations in fuel prices could materially impact operating results if not recouped through increased freight rates [71]. - The trucking industry faces intense competition for qualified drivers, leading to increased recruitment and retention expenses, negatively impacting operations [51]. Regulatory and Compliance Issues - The company is subject to various regulatory requirements, maintaining a "satisfactory" rating from the DOT, which governs motor carrier operations and safety [54]. - Compliance with EPA and NHTSA standards aims to reduce CO2 emissions and fuel consumption by 7% to 20% for heavy-duty trucks by model year 2017, with further reductions planned through model year 2027 [57]. - The FMCSA's CDL Drug and Alcohol Clearinghouse has removed certain drivers from the available pool, increasing competition and costs for attracting qualified drivers [59]. - The company may incur additional operating costs if placed in "intervention" status by the FMCSA due to safety compliance issues, which could affect driver and customer retention [80]. - The company is subject to various environmental laws, and violations could result in substantial fines or penalties, adversely affecting financial results [104]. Financial Health and Capital Structure - The company’s substantial debt levels may restrict growth and increase vulnerability to adverse economic conditions, potentially affecting financial health [94]. - Interest expense increased from 1.6% of revenues in 2023 to 2.9% in 2024, due to increased long-term debt from $261.7 million to $325.6 million [159]. - Cash generated from operating activities decreased to $59.0 million in 2024 from $114.6 million in 2023 [189]. - Property and equipment increased by approximately $65.4 million from $771.1 million in 2023 to $836.5 million in 2024, primarily due to the purchase of revenue equipment [197]. - The company currently does not intend to pay future cash dividends on its common stock, with any future dividend decisions dependent on financial conditions and results of operations [122]. Cybersecurity and Operational Risks - The company has experienced and will continue to experience cyber incidents, and while its cybersecurity risk management is intended to mitigate threats, it may not prevent all attacks that could adversely impact business and reputation [128]. - The company maintains information security processes and policies to protect systems and data from cyber threats, which remain a priority due to the increasing sophistication of cyber-attacks [108]. - The company relies on third-party business partners for security services, and any security issues they experience could impact the company's operations [111]. Labor and Workforce Challenges - Difficulty in attracting and retaining qualified drivers could adversely affect profitability and growth, necessitating adjustments in compensation or increased recruiting efforts [72]. - Future labor disputes involving major customers could significantly impact revenues and profitability, as seen during the UAW strike in September 2023 [90]. - The company employs 2,304 persons, including 1,520 drivers, as of December 31, 2024 [46]. Asset Management and Impairment - An impairment loss of approximately $6.4 million, or $0.22 loss per share, net of tax, was recognized during the year ended December 31, 2024, due to deteriorating market conditions for used revenue equipment [211]. - The recorded value of marketable equity securities decreased from $43.2 million at December 31, 2023 to $42.6 million at December 31, 2024, due to sales approximating $3.7 million and an increase in market value by approximately $3.1 million [218].

Exhibit 99.1 PAMT CORP ANNOUNCES RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2024 Fourth Quarter 2024 Summary Results Twelve months ended December 31, 2024 Summary Results Tontitown, Arkansas, February 11, 2025...... PAMT CORP (NASDAQ: PAMT) ("we" or the "Company") today reported consolidated net loss of $31.6 million, or diluted and basic loss per share of $1.45, for the quarter ended December 31, 2024 and consolidated net loss of $31.8 million, or diluted and basic loss per share of $1.45, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to the Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________to__________ P.A.M. TRANSPORTATION SERVICES, INC. (Exact name of registrant as specified in its charter) Delaware 0-1507 71-0633135 ( ...

Financial Performance - Consolidated net loss for Q2 2024 was $2.9 million, compared to a net income of $9.3 million in Q2 2023, resulting in a diluted loss per share of $0.13[2] - Total revenues decreased by 11.8% year-over-year to $182.9 million in Q2 2024, down from $207.4 million in Q2 2023[9] - Operating loss for the quarter was $0.7 million, with an operating ratio of 100.4%[9] - Logistics operations revenue was $53.7 million in Q2 2024, down from $61.9 million in Q2 2023[13] Cash and Liquidity - As of June 30, 2024, the company had $173.9 million in cash and available liquidity, and stockholders' equity of $306.7 million[3] - Operating cash flow generated in the first half of 2024 was $28.4 million[3] - Cash and cash equivalents decreased to $71,984,000 from $100,614,000, a decline of about 28.5%[14] Debt and Liabilities - Outstanding debt increased by $4.3 million to $266.0 million as of June 30, 2024[3] - Total liabilities decreased to $426,853,000 from $446,241,000, reflecting a reduction of approximately 4.3%[14] - Long-term debt increased to $211,140,000 from $204,064,000, an increase of approximately 3.3%[14] Assets and Equity - Total assets decreased to $733,527,000 from $760,457,000, a decline of approximately 3.1%[14] - Current liabilities reduced to $111,713,000 from $137,096,000, a decrease of about 18.5%[14] - Trade accounts receivable increased to $92,324,000 from $80,604,000, an increase of approximately 14.5%[14] - Retained earnings decreased to $279,275,000 from $281,904,000, a decline of about 0.9%[14] - Additional paid-in capital increased to $41,171,000 from $40,825,000, reflecting a growth of approximately 0.8%[14] - Total stockholders' equity decreased to $306,674,000 from $314,216,000, a decline of about 2.4%[14] - Marketable equity securities decreased to $42,005,000 from $43,203,000, a decline of about 2.8%[14] Operational Metrics - Average company-driver trucks decreased to 1,920 in Q2 2024 from 2,061 in Q2 2023[13] - Total miles driven in Q2 2024 were 45,829 thousand, down from 50,526 thousand in Q2 2023[13] - The company continues to focus on cost and efficiency measures to mitigate unfavorable market conditions and aims for a mid-80's operating ratio in the long term[3]