Proficient Auto Logistics (NASDAQ:PAL) has announced its financial results for the second quarter of 2024, revealing a mixed performance marked by a rise in revenue alongside a decrease in operating income.
The company's total operating revenue for the quarter reached $106.6 million, reflecting a 5.8% increase compared to the same period in 2023.
Despite the revenue growth, Proficient Auto Logistics reported a decline in total operating income, which fell by 3.7% to $7 million.
While the company's adjusted operating income climbed by 19.4% to $8.73 million, the adjusted operating ratio improved to 91.8%, a better performance compared to the 92.7% recorded in the previous year.
Proficient Auto Logistics also reported a significant increase in the number of units delivered, with a total of 507,712 units in 2024, representing a 10.5% rise from the previous year.