Proficient Auto Logistics, Inc. (NASDAQ: PAL) reported financial results for the three months ended September 30, 2026, in a filing dated November 12, 2026. The company reported total operating revenue of $148.97 million for the third quarter of 2026, representing an increase of 30.3% compared to the same period in 2025.
Total unit deliveries for the quarter were 839,036, an increase of 38.6% year-over-year. The company attributes the revenue growth primarily to the contribution of Hansen & Adkins (H&A), which was acquired on August 13, 2026. The company’s consolidated results for the quarter include H&A’s operations from August 13 through September 30.
Despite the revenue increase, the company reported a total operating loss of $3.87 million for the quarter, compared to a loss of $0.1 million in the prior year. Adjusted operating income was $263,000, compared to $4.224 million in the prior year. The Adjusted Operating Ratio was 99.8% for the third quarter of 2026, compared to 96.3% in the prior year.
The company cited elevated cost inflation and fuel surcharge under-recovery as primary factors for the wider Adjusted Operating Ratio. Fuel surcharge under-recovery negatively impacted the operating ratio by an estimated 200 to 250 basis points. The company also noted that a lower revenue per unit year-over-year reflects a portfolio mix shift toward the H&A business, which has a shorter length of haul.
Regarding the integration of Hansen & Adkins, Proficient stated the process is on schedule to substantially complete by the end of the first quarter of 2027. The company is executing 11 integration workstreams, including increasing sister hauling to reduce empty miles and opening 20 maintenance locations. As a result of these efforts, the company has identified a total synergy opportunity of $20 million to $30 million, significantly higher than the initial estimate of $6 million to $10 million.
On the balance sheet, the company ended the third quarter with $11.8 million of cash and $140.6 million of senior secured debt, resulting in net debt of approximately $128.8 million. The company has repurchased 181,678 shares of common stock at an average price of $5.89 for a total of $1.1 million under a $15 million share repurchase program authorized in March 2026.
