Pamt Corp. books another loss in Q3

Financial Performance - Pamt Corp. reported a net loss of $5.6 million, or 27 cents per share, in Q3, marking the fourth consecutive net loss for the company [1] - Consolidated revenue fell 18% year over year to $150 million, with nearly one-third of revenue linked to the automobile industry [3] - The TL unit experienced a 10% decline in average trucks in service, with revenue per truck per week falling 8% [4] Expense Analysis - Salaries, wages, and benefits expenses increased by 190 basis points year over year as a percentage of revenue, despite a reduction in company drivers [5] - Rents and purchased transportation expenses were 90 basis points higher, and depreciation expense increased by 350 basis points [5] Operational Metrics - The TL segment reported an adjusted operating ratio of 106.7%, which is 620 basis points worse year over year [4] - Logistics revenue fell 17% year over year to $42 million, with the operating ratio deteriorating by 480 basis points to 99.1% [7] Cash Flow and Debt - Pamt generated operating cash flow of $23 million in the first three quarters of the year, with liquidity at $175 million at the end of the quarter [8] - Outstanding debt increased by $11 million sequentially to $342 million, and the company previously reported a debt covenant violation [8][9]