Proficient Auto Logistics Q2 Earnings Call Highlights

Proficient Auto Logistics reported lower second-quarter revenue and adjusted EBITDA from a year earlier, while management said operating trends improved sequentially through the quarter and announced a definitive agreement to acquire Hansen & Adkins. Total operating revenue for the second quarter of 2026 was $109.4 million, down 5.3% from the same quarter in 2025. Vehicle deliveries fell 8% year over year to 580,962 units, though revenue per unit increased 2.9%. Adjusted EBITDA declined to $7.6 million from $11.3 million a year earlier. Chief Financial Officer Brad Wright said results improved from the first quarter but did not reach the company’s record second-quarter 2025 performance. He cited higher fuel costs and driver payments, including payments to company drivers and sub-haulers, as factors that weighed on quarterly profitability. Those costs were incurred ahead of the customer payment cycle, resulting in higher accounts receivable and lower cash balances at the end of the quarter, Wright said. He added that the imbalance “self-corrected during July.” Chairman and Chief Executive Officer Rick O’Dell said industry conditions became more stable during the second quarter after a challenging first quarter, though the effects of depressed rates and several sub-seasonal quarters remained visible in driver shortages and constrained carrier capacity. Management said rising fuel and maintenance expenses pressured both the market and the company’s results. However, Proficient said it secured improvements in fuel-surcharge coverage and certain rate adjustments during the quarter. Its operating ratio improved sequentially each month, reaching 95.7% in June, the company’s best monthly operating ratio so far in 2026. “These trends give us increasing confidence that the industry is moving toward a more balanced and sustainable operating environment,” O’Dell said. President and Chief Operating Officer Amy Rice said the company has used short-term incentives and surge-rate discussions in geographies where capacity is constrained. According to Rice, the company has found that additional rate support can attract incremental capacity and improve service levels. Rice said the company expects the market backdrop, including cost trends for fuel, maintenance, supplies and insurance, to remain an important variable. She said Proficient enters 2027 with “a good table set” for improved pricing and cost dynamics, particularly after combining with Hansen & Adkins. Proficient announced an agreement to acquire Hansen & Adkins, an auto-hauling company with operations in the United States and Canada. Rice said Hansen & Adkins generat...