Proficient Auto Logistics Reports $3.2M Q2 Operating Loss

Proficient Auto Logistics Reports Second Quarter 2026 Financial Results

Rhea-AI Impact
(High)
Rhea-AI Sentiment
(Neutral)
Tags
earnings

Rhea-AI Summary

Proficient Auto Logistics (NASDAQ: PAL) reported Q2 2026 operating revenue of $109.4 million, down 5.3% year over year, and an operating loss of $3.2 million versus near break-even in Q2 2025. Adjusted operating income was $0.5 million, with an adjusted operating ratio of 99.5%, and adjusted EBITDA of $7.7 million (7.0% margin), all below prior-year levels. Total units delivered fell 8.0% to 580,962 as reduced capacity and prior market exits constrained volumes.

The company ended June 30, 2026 with $8.1 million in cash, $70.4 million of debt and net leverage of 2.1x based on trailing twelve‑month adjusted EBITDA of $30.3 million. Proficient authorized a $15 million share repurchase program and had bought 82,877 shares at an average price of $6.25. It also disclosed a definitive agreement to acquire Hansen & Adkins and plans for a private offering of $75 million convertible senior notes due 2033 to refinance existing indebtedness and fund capped call transactions.

Loading…
Loading translation…

Positive

• Q2 2026 revenue $109.4m; Adjusted EBITDA $7.7m with 7.0% margin
• Trailing twelve‑month Adjusted EBITDA $30.3m; net leverage 2.1x at June 30, 2026
• $15m share repurchase authorization; 82,877 shares bought at $6.25 average price
• Definitive agreement to acquire Hansen & Adkins announced the same day
• Planned $75m convertible senior notes due 2033 to refinance debt and fund capped calls

Negative

• Q2 2026 revenue down 5.3% YoY to $109.4m; total units down 8.0%
• Operating loss $3.2m vs $0.1m operating income in Q2 2025
• Adjusted operating income fell to $0.5m from $3.8m; ratio worsened to 99.5%
• Adjusted EBITDA declined to $7.7m from $11.3m; margin down to 7.0% from 9.8%
• Loss before income taxes for H1 2026 widened to $13.0m from $5.8m
• Higher claims expense and cost inflation kept revenue near fixed‑cost coverage levels

The earnings-tag history averaged a 0.89% 24-hour move across five events. That benchmark places this quarter’s weaker profitability alongside acquisition and refinancing disclosures, while recent insider activity was Net Selling; execution and leverage remain relevant.

Total Operating Revenue$109.4 millionQ2 2026; decreased 5.3% from Q2 2025
Total Operating Loss($3.2) millionQ2 2026 versus $0.1 million income in Q2 2025
Adjusted Operating Income$0.5 millionQ2 2026 versus $3.8 million in Q2 2025
Adjusted Operating Ratio99.5%Q2 2026 versus 96.7% in Q2 2025
Total Units Delivered580,962 unitsQ2 2026; decreased 8.0% from Q2 2025
Cash$8.1 millionBalance sheet at June 30, 2026
Debt$70.4 millionBalance sheet at June 30, 2026; includes $6.7 million drawn against the line of credit
Convertible Senior Notes Offering$75.0 millionAggregate principal amount of notes due 2033

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

In the tag-specific record, negative 24-hour reactions outnumbered positive reactions three to two.

adjusted operating ratiofinancial
“Adjusted Operating Ratio are non-GAAP financial measures.”
Adjusted operating ratio measures the share of a company’s revenue that goes to run its core business after removing one-time items or non-recurring costs, calculated as operating expenses divided by operating revenue with certain adjustments. For investors it shows underlying operational efficiency — like a household tracking regular bills as a percentage of income — where a lower adjusted operating ratio means the business keeps more revenue as profit.
adjusted ebitdafinancial
“management reviews Adjusted EBITDA and Adjusted EBITDA Margin”
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
convertible senior notesfinancial
“offer $75.0 million aggregate principal amount of convertible senior notes”
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called “senior” because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
capped call transactionsfinancial
“pay the premiums in respect of capped call transactions”
Capped call transactions are agreements where investors buy options that give them the chance to benefit if a stock’s price goes up, but with a limit on how much they can gain. This helps protect them from paying too much if the stock’s price rises a lot, similar to having a maximum limit on a reward. They matter because they help investors manage risk while still allowing some upside potential.
section 4(a)(2)regulatory
“reliance on the exemption from registration provided by Section 4(a)(2)”
Section 4(a)(2) is a part of U.S. securities laws that allows companies to sell their stock directly to certain investors without registering the sale with regulators. This process is often used for private placements, making it easier and faster for companies to raise money from knowledgeable or institutional investors. It matters to investors because it provides an alternative way to buy shares, often with fewer disclosures and lower costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers.Adds StockTitan as a preferred

JACKSONVILLE, Fla., Aug. 10, 2026 (GLOBE NEWSWIRE) — Proficient Auto Logistics, Inc. (NASDAQ: PAL) (the “Company” or “Proficient”) today reported its financial results for the three months ended June 30, 2026.

Total Operating Revenue of $109.4 million
, decreased (5.3%
) from Q2 2025

Total Operating Income (Loss) of ($3.2) million
, versus $0.1 million
in Q2 2025

Adjusted Operating Income⁽¹⁾ of $0.5 million
, versus $3.8 million
in Q2 2025

Adjusted Operating Ratio⁽¹⁾ of 99.5%
compared to 96.7%
in Q2 2025

Total Units delivered of 580,962, a decrease of 8.0%
from Q2 2025

Rick O’Dell, Proficient’s Chief Executive Officer, commented, “We believe the auto haul industry is at an inflection point. Regulatory pressures, rising operating costs, and the need to attract and retain drivers are reshaping transportation economics and tightening industry capacity. In the second quarter, higher fuel, equipment, and driver-related costs increased expenses, and while our discussions with customers are progressing constructively, pricing actions generally lagged cost inflation. As rate adjustments began to take effect, margins improved each month, strengthening our margin profile exiting the quarter. As a leading asset-based provider, we continue working closely with customers to support OEM supply chains and navigate these evolving market dynamics.”

The Company is providing the below summary unaudited financial information for the three and six months ended June 30, 2026 and 2025. Please refer to footnote 1 in the table for a description of periods included for more recently acquired entities.

Summary Unaudited Financial Information⁽¹⁾

Second quarter revenue decreased $6.1 million
, or 5.3%
, compared to the same quarter of 2025, while total unit deliveries were down 8.0%
versus the same period of 2025, as higher fuel surcharge recoveries partially offset lower volumes. While second quarter industry seasonally adjusted annual rate (SAAR) trends improved sequentially and were down less than 1%
versus the comparable period of 2025, Proficient’s unit delivery volumes were constrained by reduced available capacity following market exits driven by several quarters of sub-seasonal demand and rate pressure that impacted compensation.

Adjusted Operating Ratio of 99.5%
in the second quarter compared to 96.7%
in Q2 2025, reflecting the impact of cost inflation and capacity limitations, which kept revenue near fixed-cost coverage levels. In addition, claims expense, a portion of which is self-insured, was also higher than expected during the quarter.

The Company ended the second quarter with $8.1 million
of cash and $70.4 million
of debt (inclusive of $6.7 million
drawn against its line of credit). The resulting net debt of approximately $62.3 million
as of June 30, 2026, equates to a net leverage ratio of 2.1x when compared to Adjusted EBITDA of $30.3 million
for the trailing twelve months.

On March 2, 2026, the Company announced that its Board of Directors authorized a share repurchase program under which the Company may repurchase up to $15 million
of its common stock. The repurchase program authorizes the Company to purchase its common stock from time to time in the open market, in block transactions, in privately negotiated transactions, through accelerated stock repurchase programs, through option or other forward transactions or otherwise, all in compliance with applicable laws, rules, regulations and other restrictions. As of the end of the second quarter, we have repurchased 82,877 shares of common stock at an average price of $6.25
.

Hansen & Adkins and Convertible Note Offering Press Release 

In a separate press release, Proficient today announced that it had entered into a definitive agreement to acquire Hansen & Adkins, which is accessible on the Investor Relations section of the Company’s website at https://ir.proficientautologistics.com/.

That press release also announced that Proficient plans to offer $75.0 million
aggregate principal amount of convertible senior notes due 2033 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the offering will be used to refinance outstanding indebtedness and to pay the premiums in respect of capped call transactions to be entered into in connection with the issuance of the notes.

The notes and the common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the notes or any shares of common stock potentially issuable upon conversion of the notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

The Company will host an investor conference call and webcast today at 5:00 p.m. EDT to discuss the acquisition and second quarter 2026 results. Investors are invited to join the conference call by registering through this link: https://register-conf.media-server.com/register/BIdc1702f4dd57497ebad367c5a6615afb. Once registered, investors will receive a dial-in and a unique pin to join the conference. Investors may also join the listen-only Webcast via https://edge.media-server.com/mmc/p/3mqhd9aj. The accompanying presentation materials can be accessed through the Investor Relations section of the Company’s website at https://ir.proficientautologistics.com/.

About Proficient Auto Logistics

Headquartered in Jacksonville, Florida, Proficient Auto Logistics (NASDAQ: PAL) is the leading specialized freight company focused on providing auto transportation and logistics services. Through the combination of nine industry-leading operating companies, including four since IPO debut May 2024, PAL operates the largest auto transportation fleet in North America, offering a broad range of services primarily focused on transporting finished vehicles from automotive production facilities, marine ports of entry, and regional rail yards to auto dealerships around North America. For more information, visit www.proficientautologistics.com. 

Brad Wright
Chief Financial Officer and Secretary
Phone: 904-506-4317
email: Investor.relations@proautologistics.com

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to possible or assume future results of our business, financial condition, results of operations, liquidity, plans and objectives. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions. We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2026 (the “Annual Report”), and elsewhere in the Annual Report. Accordingly, you should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding: those related to the offering of the notes and the use of proceeds therefrom and the capped call transactions; the satisfaction of the conditions to the closing of the H&A acquisition in a timely manner; expectations related to synergies, capacity, units moved, geographic footprint and combined company performance; costs related to, and the inability to recognize the anticipated benefits of the acquisition of H&A; risks related to the business of H&A and unexpected liabilities that may arise in connection with the integration of H&A into our business, including our ability to apply our procedures regarding internal controls over financial reporting to H&A; the risk that disruptions from the acquisition will harm our business, including current plans and operations; the diversion of management’s time and attention from ordinary course business operations to integration of H&A; potential adverse reactions or changes to business relationships resulting from the acquisition of H&A; the outcome of any legal proceedings that may be instituted against the Company in connection with our acquisition of H&A; our expectations regarding our future performance, results of operations, and our ability to improve our leverage position and balance sheet; the economic conditions in the global markets in which we operate; expectations and impact related to fuel price volatility; our ability to successfully implement our business strategy, effectively respond to changes in market dynamics and customer preferences, and achieve the anticipated benefits and associated cost savings of such strategies and actions; our ability to recruit and retain qualified driving associates, independent contractors and third-party auto transportation and logistics companies; an increase in the frequency or severity of accidents or other claims; our expectations regarding the successful implementation of our acquisitions; geopolitical developments and additional changes in international trade policies and relations; the effect of any international conflicts or terrorist activities on the United States and global economies in general, the transportation industry, or us in particular, and what effects these events will have on our costs and the demand for our services; our ability to manage our network capacity and cost structure for capital expenditures and operating expenses, and match it to shifting and future customer volume levels; our ability to compete effectively against current and future competitors; our ability to maintain our profitability despite quarterly fluctuations in our results, whether due to seasonality, large cyclical events, or other causes; our ability to adapt to and address changes to the capacity environment, driver compensation and market pricing; our future financial and operating results; our expectations regarding the period during which we will qualify as an emerging growth company under the JOBS Act; and the sufficiency of our existing cash to fund our future operating expenses and capital expenditure requirements.

The forward-looking statements made in this document relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

We report our financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). However, management believes that certain non-GAAP measures, including EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Income, and Adjusted Operating Ratio, provide useful information in measuring operating performance, generating future operating plans and making strategic decisions regarding allocation of capital. Management believes this information presents helpful comparisons of financial performance between periods by excluding the effect of certain non-cash and non-recurring items.

EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Income, and Adjusted Operating Ratio do not have a standardized meaning prescribed by GAAP and therefore it may not be comparable to similarly titled measures presented by other companies, and it should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

EBITDA is defined as net income (loss) for the period adjusted for interest expense, income tax expense (benefit) and depreciation expense and intangible amortization expense.

Adjusted EBITDA is defined as net income (loss) for the period adjusted for interest expense, net, income tax expense (benefit), depreciation and amortization expense, stock compensation expense and any non-recurring items that management does not consider indicative of ongoing operating performance, including restructuring charges of $1.2 million
recorded during the third quarter of 2025 and non-cash goodwill impairment of $27.8 million
recorded during the fourth quarter of 2025.

Adjusted EBITDA Margin is calculated as Adjusted EBITDA as a percentage of operating revenue.

Operating income is calculated as total operating revenue less total operating expenses.

Adjusted operating income is calculated as total operating revenue less total operating expenses adjusted to exclude amortization of intangibles, stock compensation expense, and non-recurring items that management does not consider indicative of ongoing operating performance, including restructuring charges of $1.2 million
recorded during the third quarter of 2025 and non-cash goodwill impairment of $27.8 million
recorded during the fourth quarter of 2025.

Operating ratio is calculated as total operating expenses as a percentage of operating revenue.

Adjusted operating ratio is calculated as total operating expenses adjusted to exclude amortization of intangibles, stock compensation expense, and any non-recurring items that management does not consider indicative of ongoing operating performance, as a percentage of operating revenue. Adjusted items including restructuring charges of $1.2 million
recorded during the third quarter of 2025.

How did Proficient Auto Logistics (NASDAQ: PAL) perform in Q2 2026?

Proficient Auto Logistics reported Q2 2026 operating revenue of $109.4 million and an operating loss of $3.2 million. According to Proficient Auto Logistics, adjusted EBITDA was $7.7 million with a 7.0% margin, and total units delivered fell 8.0% to 580,962 versus Q2 2025.

Why did Proficient Auto Logistics revenue decline in Q2 2026 compared with Q2 2025?

Q2 2026 revenue declined 5.3% year over year to $109.4 million, driven mainly by lower unit volumes. According to Proficient Auto Logistics, total units delivered decreased 8.0%, as reduced available capacity after prior market exits constrained volumes, partially offset by higher fuel surcharge recoveries.

What were Proficient Auto Logistics key non-GAAP metrics in Q2 2026?

Key non-GAAP metrics included adjusted operating income of $0.5 million and adjusted EBITDA of $7.7 million with a 7.0% margin. According to Proficient Auto Logistics, the adjusted operating ratio was 99.5%, compared with 96.7% in Q2 2025, reflecting cost inflation and capacity constraints.

What is Proficient Auto Logistics net debt and leverage as of June 30, 2026 (PAL)?

As of June 30, 2026, Proficient Auto Logistics reported $8.1 million in cash and $70.4 million of debt, implying net debt of about $62.3 million. According to Proficient Auto Logistics, this equated to a net leverage ratio of 2.1x based on trailing twelve‑month adjusted EBITDA of $30.3 million.

What are the details of Proficient Auto Logistics 2026 convertible notes offering?

Proficient Auto Logistics plans to offer $75.0 million of convertible senior notes due 2033 in a private offering to qualified institutional buyers. According to Proficient Auto Logistics, net proceeds are expected to refinance outstanding indebtedness and pay premiums for capped call transactions linked to the notes.

What acquisition did Proficient Auto Logistics announce alongside its Q2 2026 results?

On August 10, 2026, Proficient Auto Logistics disclosed a definitive agreement to acquire Hansen & Adkins, a vehicle logistics provider. According to Proficient Auto Logistics, further details are available in a separate press release on the company’s investor relations website linked from the earnings announcement.