Proficient Auto Logistics Reports Preliminary Financial Results for Q4 2024

Proficient Auto Logistics, Inc. (NASDAQ: PAL) has recently issued a press release detailing its preliminary unaudited operating and financial results for the fourth quarter of 2024. The results were reported on February 11, 2025, indicating certain key financial metrics and comparisons to the prior year.

In the preliminary unaudited results for the three months ending December 31, 2024, Proficient Auto Logistics showcased a 4% increase in Total Operating Revenue to $95.1 million, compared to the prior quarter. However, there was a 15.9% decrease in revenue compared to the same period in 2023. The company posted a Total Operating Income/Loss of ($1.9) million, improving from ($2.2) million in the previous quarter. Adjusted Operating Income stood at $1.7 million, marking an increase from $1.1 million in the prior quarter.

Proficient’s Chief Executive Officer, Rick O’Dell, attributed the company’s performance to navigating a challenging operating environment, achieving growth in top-line revenue and improving adjusted operating ratio. The company noted a 4% increase in total units delivered and encouraged confidence in their national operating foundation.

The press release also detailed the completion of the initial public offering (IPO) in May 2024, followed by the acquisitions of five operating businesses, collectively termed Founding Companies, along with additional strategic acquisitions. The company provided unaudited financial information for Proficient and Proficient Transport, indicating their financial status post-acquisitions for the three and twelve months ending December 31, 2024.

Furthermore, the press release mentioned the company’s balance sheet position as of December 31, 2024, revealing approximately $15.8 million in cash and $82.4 million in debt. Following its strategic growth initiatives, Proficient had a net leverage ratio of 1.6x compared to annual adjusted EBITDA of $40.7 million.

In closing, Proficient Auto Logistics emphasized that the preliminary financial results are subject to finalization and completion of audit procedures. The company intends to host an investor conference call on the results at 5:00 pm EDT on February 11, 2025, to provide further insights and discuss the performance metrics.

For additional information, detailed financial statements, and future updates, investors are encouraged to join the conference call or the provided webcast links. Proficient Auto Logistics remains committed to transparent financial reporting practices and aims to provide comprehensive information to its stakeholders as it continues its growth trajectory within the auto transportation and logistics sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Proficient Auto Logistics’s 8K filing here.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.