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Patriot Transportation Holding, Inc. (NASDAQ:PATI) reported a net income of $323,000 ($0.09 per share) for Q3 2021, down from $573,000 ($0.17 per share) year-over-year. Total revenues increased to $20.86 million, a $1.84 million rise, aided by real estate gains of $133,000. However, revenue was negatively impacted by a lost customer account and driver shortages. The average revenue per mile rose by 9.2%, while operating profit decreased to $452,000 from $794,000, resulting in an operating ratio of 97.8. The company has implemented significant driver pay increases to reduce turnover and improve driver retention.
Patriot Transportation Holding will host a conference call on July 28, 2021, at 3:00 PM (EST), to discuss its financial results for the third quarter of the fiscal year. Analysts, shareholders, and interested parties can join the call by dialing 1-877-407-0778 (domestic) or 1-201-689-8565 (international). The call will also be streamed live on the company's website. An audio replay will be available for 60 days after the event.
The company operates through Florida Rock & Tank Lines, focusing on the transportation of liquid and dry bulk commodities.
Patriot Transportation Holding reported a net income of $484,000 ($0.14 per share) for Q2 2021, reversing a net loss of $401,000 from the previous year. This result includes a gain of $1,037,000 from real estate sales. However, total revenues fell by $3.8 million to $19.7 million, attributed mainly to account downsizing and a terminal closure. Transportation revenues decreased by 15% to $18.2 million. Operating profit improved to $671,000, while the operating ratio was 96.6. The firm ended Q2 with $9.4 million in cash and no debt.
Patriot Transportation Holding, Inc. (NASDAQ:PATI) will host a conference call on May 13, 2021, at 3:00 PM (EST) to discuss its second-quarter results for fiscal year 2021. Investors and analysts can join via phone or stream online through the company's website. The call will also feature an audio replay available for 60 days after. Patriot Transportation's operations are primarily conducted through Florida Rock & Tank Lines, Inc., focusing on hauling liquid and dry bulk commodities in the Southeastern U.S.
Patriot Transportation Holding will host a conference call on February 3, 2021, at 3:00 PM EST. Interested parties can join via phone or through the Company's website. Additionally, the 2021 Annual Shareholder's Meeting is scheduled for the same day at 11 AM EST, only in a virtual format due to COVID-19. Access to the meeting is available via the company's site or a direct Zoom link. The Company, operating through Florida Rock & Tank Lines, specializes in transporting liquid and dry bulk commodities.
Patriot Transportation Holding has declared a special cash dividend of $3.00 per share, totaling approximately $10 million. This one-time dividend is payable on December 30, 2020, to shareholders who are on record as of December 17, 2020. This announcement reflects the company’s commitment to returning value to its shareholders.
Patriot Transportation Holding (NASDAQ:PATI) reported a net income of $549,000 or $0.16 per share for Q4 2020, up from $194,000 or $0.06 per share year-over-year. However, transportation revenues fell by $3.5 million to $20.3 million, driven by a 18.6% decline in revenue miles due to COVID-19 and reduced customer business. Despite lower expenses resulting in an operating profit of $761,000, overall annual net income dropped to $257,000, down from $1.8 million last year.
Patriot Transportation Holding, Inc. (NASDAQ:PATI) will release its 2020 fourth quarter earnings on December 2, 2020. A conference call for analysts and shareholders will occur at 3:00 PM EST, accessible via phone and live streaming on their website. The company operates within the transportation sector, focusing on liquid and dry bulk commodities in the southeastern U.S. Investors should be aware that future statements may involve risks and uncertainties that could affect actual results.