The A&M, as it is known, operates 139.5 miles (224.5 km) of line from Fort Smith, Arkansas to Monett, Missouri.

A&M also leases 3.2 miles (5.1 km) of track (locally known as "the Bottoms") from Union Pacific at Van Buren, and provides haulage services for Union Pacific between Van Buren and the Fort Smith Railroad in Fort Smith.

The line handles 286,000 lb (130,000 kg) railcars and has vertical clearances sufficient for double-stack intermodal cars throughout.

The A & M Railroad company also operates seasonal excursion trains between Springdale, Winslow and Van Buren, Arkansas.

Additional trains operate Sundays between Springdale and Fort Smith, Arkansas in the summer.

Coach #105 “Golden Age” was built by Harlan and Hollingsworth (Bethlehem Steel) in 1927 for the New Jersey Central Railroad.

Parlor Car #107 “Explorer” was built by Pullman Standard in 1955-1956 as Long Island Railroad class P72 coach 2927.

After the Northern Central shut down, the car moved to the Arkansas & Missouri Railroad in December 2004.

The car then became Washington Central (WCRC) #151 in 1993 before moving to BC Rail and their Pacific Starlight Dinner Train in 1997.

The car was again sold in December, 2010, and arrived on the Arkansas & Missouri by late 2011, where it was numbered 108 and renamed “Silver Feather.” #109 “Spirit of Arkansas” Diner-Lounge #8322 entered service on August 20, 1950, as a Southern Pacific Sunset Limited “Pride of Texas” coffee shop-lounge car.

Numbered SP 10409, the car was decorated with Texas cattle brands and featured inexpensive meals for coach passengers.

After being retired, the car became owned by Hank Peterson (RPCX 8322) and used on trips on the Ohio Central, including during the 2006 NRHS convention.

The line was built between 1880 and 1882 by the St. Louis and San Francisco Railway ("Frisco"), a predecessor of Burlington Northern Railroad, and was leased by the latter to the Arkansas and Missouri in 1986.