Earnings call transcript: Proficient Auto Logistics falls on Q3 2026 margin pressure
Proficient Auto Logistics reported a 30.3% increase in third-quarter revenue to $149 million after acquiring Hansen & Adkins. However, adjusted EBITDA fell 33.6% to $7.9 million, due to fuel costs, capacity limits, and driver expenses. The stock fell 11% from its prior close and reached near the bottom of its 52-week range at $2.82 after-hours.
Revenue growth was mostly attributed to the Hansen & Adkins acquisition, while the company's legacy business faced strain with a 15.7% drop in comparable revenue and a 14.3% decline in comparable units delivered. Management raised their synergy target to $20 million-$30 million, compared to the initial estimate of $6 million-$10 million.
The company's high leverage at 4.0x and adjusted EBITDA below the level needed to quickly reduce debt raised concerns among investors. The acquisition provided revenue growth, but the underlying demand remained weak, causing an overall mixed performance. The stock closed the day at $2.82, 7.85% lower than its regular session close.
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