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PAL 資訊
PAL 事件
Proficient Auto Logistics Prices $75 Million Convertible Senior Notes
Proficient Auto Logistics announced the pricing of its previously announced offering of $75.0 million aggregate principal amount of convertible senior notes due 2033. The initial conversion ratio is 153.7870 common shares per $1,000 principal amount of notes, which represents an initial conversion price of approximately $6.50 per common share. The initial conversion price represents a premium of approximately 27.50% over the last reported sale price of $5.10 per common share on August 11, 2026. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
Barrington Raises Proficient Price Target to $12
Barrington raised the firm's price target on Proficient Auto Logistics to $12 from $10 and keeps an Outperform rating on the shares. The company reported a Q2 revenue beat but earnings below expectations, the analyst tells investors in a research note. The firm views the bigger news as the acquisition of Hansen & Adkins, the number three auto hauler, making Proficient the number one player in the space. Barrington sees the deal as "accretive and transformative."
Proficient Auto Logistics Acquires Hansen & Adkins for $130 Million
Proficient Auto Logistics announced a definitive agreement to acquire Hansen & Adkins, H&A. The transaction is expected to close, subject to customary closing conditions, in mid-August 2026. The upfront purchase price in this transaction will be $130 million, including assumed debt of approximately $75 million. Of the approximately $55 million remaining purchase price, approximately $3 million will be paid in Proficient common stock with approximately $52 million to be paid in cash. The terms of the acquisition also provide for potential earnout payments of up to approximately $22.1 million, of which $2 million would be payable in shares of Proficient common stock with the remainder payable in cash, based on achievement of near-term EBITDA targets. "The combination of the two companies will create a stronger platform for sustainable long-term value creation built on proven leadership, operational discipline, and industry-leading capabilities," shared Richard O'Dell, Proficient's Chief Executive Officer. "The addition of Hansen & Adkins, a company highly aligned with our values, culture, and commitment to operational excellence, will establish Proficient as a stronger, more capable market leader that can invest at a scale few others can match."
Proficient Reports Q2 Revenue of $109.4M, Exceeding Expectations
Reports Q2 revenue $109.4M, consensus $108.53M. Rick O'Dell, Proficient's Chief Executive Officer, commented, "We believe the auto haul industry is at an inflection point. Regulatory pressures, rising operating costs, and the need to attract and retain drivers are reshaping transportation economics and tightening industry capacity. In the second quarter, higher fuel, equipment, and driver-related costs increased expenses, and while our discussions with customers are progressing constructively, pricing actions generally lagged cost inflation. As rate adjustments began to take effect, margins improved each month, strengthening our margin profile exiting the quarter. As a leading asset-based provider, we continue working closely with customers to support OEM supply chains and navigate these evolving market dynamics."
Proficient Q1 Revenue $93.69M, Exceeds Expectations
Reports Q1 revenue $93.69M, consensus $91.4M. Rick O'Dell, Proficient's Chief Executive Officer, commented, "As previously communicated in early March, the year began with challenges from lower-than-expected volumes and weather disruptions, and more recent fuel cost headwinds further impacted the quarter. Encouragingly, underlying demand trends improved exiting the quarter, and with more consistent seasonal volumes and improved fuel cost recovery, we believe we are positioned for improved performance as the second quarter progresses."
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