Proficient Auto Logistics Provides Update on Expected Operating and Financial Metrics for Third Quarter of Fiscal 2024; Sets Date to Report Third Quarter Financial Results
Proficient Auto Logistics, Inc. (PAL)
Company Research
Source: Business Wire
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Proficient Auto Logistics, Inc. (NASDAQ: PAL) today provided an update on certain expected operating and financial metrics for the third quarter of fiscal 2024.As noted during the Company’s second quarter earnings call in early August, unit volumes slowed during June with the slowdown continuing into July. While there were specific events in July – such as seasonal plant closures during the first two weeks of the month – the Company also made note of its OEM customers’ cautionary tone regarding their outlook for the second half of 2024.Weakness in unit volumes continued throughout the third quarter of 2024, resulting in estimated unit volumes of flat to a decline of 1% compared to combined unit volumes for the third quarter of 2023. Volume underperformance resulted primarily from significantly less dedicated fleet, brokerage and spot buy opportunities, which are typically at premium pricing, the combined result being an estimated $90 - $92 mill
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PAL
Earnings
- 11/8/24 - Beat
PAL
Sec Filings
- 11/15/24 - Form 4
- 11/14/24 - Form 10-Q
- 11/8/24 - Form SC
- PAL's page on the SEC website