Patriot Transportation Holding, Inc. (NASDAQ:PATI) Q4 2022 Earnings Call Transcript

Steve Rudd: Okay. All right. All right, so just our hopes in the upcoming year and we’re getting normal replacement cycle. Basically, it’s our normal replacement cycle, taking off the trucks that are taking them off lease, purchasing them, increased rates relative to our cost structure and demand any new increases in demand or business that’s dropping off, you know, we’re looking at the drybulk business and getting some better or some additional customers there? But what do we see there on it? Our pricing turns on obviously on demand management grade and I’m curious what we’re still seeing?

Rob Sandlin: I think demand is still good, I mean, our business is not as — doesn’t have the peaks and valleys that some of the dry van businesses have or the flatbed businesses where their rates move up and down and their demand moves up and down quite a bit. We see seasonal demand as an example. We’re going to see South Florida and Central Florida start to pick up late this month and run pretty heavy through March. We don’t expect that to be any different. In fact, it may be a better year because we’re further away I hope and I guess from COVID. And so we’ve started — I think our growth and our ability to add miles and revenue are still tied to the same thing I’ve mentioned before and that’s our ability to add drivers in those markets. And in a few of the markets where we’ve been able to add capacity recently, we’ve been able to go out and get new business at what I would consider good freight rates. If that answers that part of it?

Steve Rudd: I think it does. All right. Well, I guess, we’ll sit tight to have a year shapes out and enjoy the holidays coming up.

Rob Sandlin: All right, great. Thank you, Steve. Thanks for your call.

Matt McNulty: Thank you.

Operator: Thank you. Thank you. There are no further questions in the queue.

Rob Sandlin: Thank you all for your interest in Patriot Transportation and we hope we have a safe and happy holiday.

Operator: Thank you, ladies and gentlemen. This concludes today’s event. You may disconnect at this time and have a wonderful day. Thank you for your participation.