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Universal Logistics Holdings, Inc. (NASDAQ: ULH) is a leading provider of customized transportation and logistics solutions across the United States, Mexico, Canada, and Colombia. With an asset-light model, Universal offers a broad array of services including truckload, brokerage, intermodal, dedicated services, and value-added logistics. The company operates through four main segments: trucking, intermodal, company-managed brokerage, and contract logistics, with the majority of revenue generated from contract logistics.
Universal prides itself on delivering flexible supply chain solutions tailored to meet the dynamic demands of its customers. The company's recent performance highlights its resilience in a challenging market environment. In the second quarter of 2023, Universal reported total operating revenues of $412.6 million, with a net income of $23.6 million. Although there was a decline from the previous year, the contract logistics segment remained robust, contributing significantly to the company's overall performance.
The contract logistics segment, which includes value-added and dedicated services, saw a slight increase in revenue to $208.8 million, with an improved operating margin of 15.7%. Universal continues to expand its contract logistics footprint, recently securing a significant warehouse logistics program for an all-electric vehicle assembly plant in Detroit.
The intermodal segment faced challenges with a 41.6% revenue drop year-over-year, attributed to decreased load volumes and lower fuel surcharges. Despite these setbacks, Universal remains committed to optimizing its operations and exploring new opportunities for growth.
The trucking segment experienced a 23.7% decrease in revenue to $81.2 million, impacted by lower brokerage services and fuel surcharges. The company-managed brokerage segment also saw a decline in revenues, emphasizing the need for strategic adjustments to counter market pressures.
Universal's financial strength is underscored by its cash and cash equivalents totaling $65.0 million as of July 1, 2023, and ongoing investments in infrastructure and technology to enhance service delivery. The company declared a cash dividend of $0.105 per share, reflecting its commitment to returning value to shareholders.
Looking ahead, Universal is set to expand its operations with a new industrial facility in Roanoke, Virginia, dedicated to bolstering its heavy truck division. This $50 million investment is projected to create 45 new jobs, underscoring the company's growth strategy and dedication to local economic development.
For more detailed financial metrics, including EBITDA and EBITDA margin, Universal provides non-GAAP measures to offer a clearer picture of its operational performance. These metrics are valuable for investors seeking to understand the company's financial health and future prospects.
Universal Logistics Holdings reported Q3 2024 results with operating revenues of $426.8 million, up 1.3% year-over-year. Net income reached $26.5 million, or $1.01 per share, a 14.7% increase from Q3 2023. Operating income grew 16.0% to $42.6 million, with operating margin improving to 10.0%. The company's contract logistics segment showed strong performance with 17.8% revenue growth, while intermodal and trucking segments experienced revenue declines. The company ceased operations of its brokerage business, resulting in pre-tax losses of $8.6 million. A quarterly dividend of $0.105 per share was declared.
Universal Logistics Holdings (NASDAQ: ULH) has announced its schedule for releasing third quarter 2024 financial results. The company will report its earnings after the market closes on Thursday, October 24, 2024. Following this, ULH will host a quarterly earnings conference call on Friday, October 25, 2024, at 10:00 a.m. Eastern Time.
Investors and interested parties can participate in the conference call using the following details:
- Toll-Free Call: (800) 836-8184
- International Dial-in: +1 (646) 357-8785
Universal Logistics Holdings (NASDAQ: ULH) has announced the grand opening of a new Intermodal terminal near Tacoma, WA. The facility features 2.5 acres of secured container yard space for 24/7 service, offering a range of drayage services. Strategically located, it provides convenient access to all Northwest Seaport Alliance South Harbor Terminals and major highways, as well as proximity to key industrial areas including Sumner/Kent Industrial Park, Puyallup/Spanaway Industrial Centers, and Olympia/Lacey Industrial Areas.
John Wroby, President of Universal Intermodal Services, highlighted that the new terminal expands operational capabilities and enhances service efficiency. Universal is actively hiring owner operators and dispatch office positions for this new facility.
Universal Logistics Holdings (NASDAQ: ULH) has acquired Parsec, a leading provider of terminal management services to railroads across North America. Parsec operates in over 20 rail yards in the US and Canada, offering container lift services, equipment repair, drayage, and container stacking. The acquisition, valued at $193.6 million, is expected to be immediately accretive and boost Universal's contract logistics segment revenues to over $1 billion annually.
Parsec reported total operating revenues of $230.2 million for the trailing-twelve months ended August 31, 2024. With nearly 2,100 employees, Parsec will operate within Universal's contract logistics segment. The acquisition aims to diversify Universal's service offering and provide a significant presence in the rail terminal services space.
Universal Logistics Holdings (NASDAQ: ULH) has announced the integration of the 2025 Peterbilt 579EV electric vehicles into its intermodal fleet in Southern California. This move is part of the company's ongoing sustainability initiatives aimed at reducing its carbon footprint. John Wroby, President of Universal Intermodal Services, emphasized the company's dedication to promoting sustainable logistics solutions. CEO Tim Phillips highlighted the strategic importance of this investment in advancing the company's sustainability goals. Universal Logistics Holdings plans to continue evaluating and implementing climate-positive actions throughout its operations and value chain.
Universal Logistics Holdings reported strong Q2 2024 results, with operating revenues up 12.0% to $462.2 million and net income increasing to $30.7 million ($1.17 per share). The company saw significant growth in its contract logistics segment, with revenues up 26.2% to $263.6 million. However, the intermodal segment experienced a 14.8% decrease in revenues and an operating loss. The trucking segment showed improvement with a 12.6% revenue increase. Universal declared a quarterly dividend of $0.105 per share. CEO Tim Phillips highlighted the company's diverse service offering and strong performance in contract logistics, while acknowledging challenges in some operations.
Universal Logistics Holdings (NASDAQ: ULH) announced it will release its second quarter 2024 financial results after market close on Thursday, July 25, 2024.
The company will hold its quarterly earnings conference call the following day, on Friday, July 26, 2024, at 10:00 a.m. Eastern Time. Interested participants can dial in toll-free at (800) 836-8184 or internationally at +1 (646) 357-8785. A replay of the call will be available until August 2, 2024, by calling (888) 660-6345 or +1 (646) 517-4150 and using the replay code 07642. The conference call will also be accessible on the Universal Logistics Holdings' investor relations website.
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