Proficient Q4 Revenue Slumps 15.9% on Weaker Margins
Diminished Demand Drags on Earnings Ahead of Brighter 2025
Proficient Auto Logistics was formed in May 2024 when five companies, including Proficient Auto Transport, merged. (Proficient Auto Transport via Facebook)
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Revenue at Proficient Auto Logistics slumped in the fourth quarter of 2024 on the back of slack demand and weaker revenue per delivery, the motor vehicle carrier said.
However, Proficient — the No. 4-ranked auto transporter — expects industry dynamics to improve in 2025, including through a reduction in carrier capacity due to the travails of Jack Cooper Holdings.
Proficient, which was formed from the merger of five auto haulers in May 2024, posted $95.1 million in revenue in the most recent quarter, a 15.9% year-over-year decrease from $113.1 million the company’s combined predecessors earned in the year-ago period.
The Jacksonville, Fla.-based carrier did not provide figures for net income. It was formed following an initial public offering in May.
Proficient Chief Financial Officer Brad Wright told analysts during a quarterly earnings call that the overall revenue it brought in per vehicle fell 14% to around $169 in Q4 from $197 a year earlier.
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