Proficient Auto Logistics, Inc. Common Stock Q1 FY2026 earnings call

• Rick mentioned the first two months of Q1 were affected by extended automotive plant shutdowns, weaker SAR, severe winter weather, and slow transportation pipeline recovery, but volume trends improved in March with the revenue gap for the full quarter finished less than 2% below Q1 of 2025. Looking to Q2, recent trends indicate more stable volume levels supported by seasonal strengthening, improved weather, etc. - Amy discussed spot market environment in Q1, with spot opportunity increasing in March but lack of widespread availability. Supply pressure drivers include financial pressure from low volume, third-party carriers not recovering fuel surcharge, fuel cost increase pushing carriers out, driver attrition in both company and third-party driver spaces, and regulatory pressure from non-domiciled CDL final rule. - Company shows discipline in pursuing new business and retaining incumbent business, is hiring aggressively for drivers, has a strong balance sheet, and expects to advance strategic objectives for margin expansion, market share gains, and acquisitions.

Total operating revenue for the first quarter of 2026 was $93.7 million, a decrease of 1.6% versus Q1 of 2025. Total units delivered during the first quarter totaled 501,850, an increase of 1.5% compared to the same quarter of 2025. Adjusted EBITDA for the first quarter was $4.5 million versus $7.8 million in the first quarter of 2025. Revenue contribution details are not further broken down by specific product segment in the provided transcript.

• Forecasts total operating revenue for Q2 2026 between $105 million and $110 million, reflecting a sequential increase but a decline versus Q2 2025 ranging from 4% to 9%. - Adjusted operating ratio is expected to be similar to last year's second quarter. - Adjusted EBITDA margin for Q2 of this year should be between 8% and 10%. - Expect equipment CapEx spending for 2026 to be less than $10 million compared to $10.2 million for the full year 2025.

• Factors affecting Q1 including extended automotive plant shutdowns, weaker than expected industry SAR, severe winter weather, and slow recovery of rail and sea transportation pipelines. - Meaningfully higher diesel fuel prices creating a material unplanned cost and margin headwind. - Driver supply challenges such as financial pressure from low volume causing smaller carriers to exit, third-party carriers not recovering fuel surcharge leading to exit, driver attrition due to volume levels making it hard to make a good living and higher general trucking rates compressing auto haul premiums, and regulatory pressure from non-domiciled CDL final rule going into effect.

Q: Bruce Chan with Stifel asked about supply pressure, spot pricing, and driver and regulatory impacts.

A: Amy responded on spot market in Q1, supply pressure drivers including financial pressure, fuel cost, driver attrition, and regulatory impact from non-domiciled CDL final rule.

Q: Ryan Merkle with William Blair asked about fuel impact in Q1 and volume trends.

A: Brad said fuel had about a million-dollar impact on Q1 profitability and Amy discussed volume trends considering market share gains cycling and SAR.

Q: David Hicks with Raymond James asked about company deliveries divergence and KPIs post-unified accounting.

A: Amy explained factors behind company delivery flex up and mentioned KPIs like revenue per driver, cost capture, and utilization.