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Patriot Transportation Holding Inc - PATI STOCK NEWS

Welcome to our dedicated news page for Patriot Transportation Holding (Ticker: PATI), a resource for investors and traders seeking the latest updates and insights on Patriot Transportation Holding.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Patriot Transportation Holding's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Patriot Transportation Holding's position in the market.

Rhea-AI Summary
United Petroleum Transports, Inc. (UPT) and Patriot Transportation Holding, Inc. (Patriot) closed the acquisition of Patriot and its subsidiary, Florida Rock and Tank Lines, Inc. Patriot shareholders approved the transaction valuing Patriot at approximately $66.2 million. UPT acquired all outstanding shares of Patriot common stock for $16.26 per share in cash. Florida Rock will retain its operating footprint and continue to operate under its historical brand. The merger creates a top ten bulk tank carrier by revenue with over 1,000 professional drivers and 30 terminals, stretching from Arizona to Florida.
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0.09%
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Rhea-AI Summary
Patriot Transportation Holding, Inc. (NASDAQ:PATI) reported net income of $526,000, or $.15 per share for Q4 2023, compared to $470,000, or $.13 per share in the same quarter last year. Revenue miles were up 402,000, or 7.7%, over the same quarter last year. Operating revenues for the quarter were $24,217,000, up $1,335,000 from the same quarter last year due to higher miles, rate increases, and an improved business mix.
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Rhea-AI Summary
Patriot Transportation Holding, Inc. has announced that United Petroleum Transports, Inc. will acquire all outstanding shares of Patriot common stock for $16.26 per share in cash. The transaction values Patriot Transportation at approximately $65.9 million. The combined company will have over 1,000 drivers and cover 11 states with over 30 terminals. UPT will continue to operate Patriot's business through its subsidiary, Florida Rock & Tank Lines, Inc.
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Rhea-AI Summary
Patriot Transportation Holding, Inc. (NASDAQ:PATI) will announce its fiscal 2023 third quarter earnings results on August 3, 2023. The Company will host a conference call at 3:00pm (EST) on the same day. Analysts, shareholders, and interested parties can access the teleconference live or through computer audio live streaming. An audio replay will be available for sixty days following the conference call.
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Patriot Transportation Holding Inc

Nasdaq:PATI

PATI Rankings

PATI Stock Data

57.78M
2.22M
39.7%
35.79%
0.04%
General Freight Trucking, Local
Transportation and Warehousing
Link
US
Jacksonville

About PATI

patriot transportation holding, inc. operates as a regional tank truck. the company conducts its business through its subsidiary, florida rock & tank lines, inc. its business consists of hauling petroleum related products, and dry bulk commodities and liquid chemicals. the company operates terminals in florida, georgia, alabama, south carolina, north carolina and tennessee. as of september 30, 2016, the company operated a fleet of 468 tractors and 561 tank trailers from its 21 terminals and nine satellite locations. the company offers hauling liquid petroleum products, such as gas and diesel fuel, from large scale fuel storage facilities to its customers' retail outlets, such as convenience stores, truck stops and fuel depots. its dry bulk commodities include cement, lime and various industrial powder products. it also provides delivery service in the liquid chemical and dry bulk business primarily from distribution facilities or manufacturing facilities to the end user.