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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, Inc. (NASDAQ:ULH) was recognized as a 2022 Supplier of the Year by General Motors (GM) during the company's 31st annual Supplier of the Year event in San Antonio, Texas. This prestigious award celebrates suppliers who exceed GM's standards, providing innovative technologies and high-quality service in the automotive sector. This marks the second time Universal has received this award, underscoring its commitment to customer satisfaction and supply chain efficiency. According to Universal's CEO, Tim Phillips, this honor reflects their team's dedication to delivering value to GM's supply chain, despite challenges faced in the automotive industry. The selection process for the award is based on various performance criteria, including purchasing and logistics.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) reported its fourth quarter 2022 results, revealing consolidated net income of $33.4 million, or $1.27 per share, an increase from $16.2 million or $0.60 per share in Q4 2021. Total operating revenues for Q4 2022 were $458.7 million, down 1.9% year-over-year. The company achieved its highest operating income of $48.2 million, representing a 102.6% increase. For the full year 2022, earnings per share reached $6.37, with total revenues surpassing $2 billion. A quarterly dividend of $0.105 per share was declared, payable on April 3, 2023.
Universal Logistics Holdings (NASDAQ: ULH) announced the release of its fourth quarter 2022 financial results on February 9, 2023, after market close. The company will host a quarterly earnings conference call on February 10, 2023, at 10:00 a.m. ET. Investors can participate via toll-free and international dial-in numbers, with a replay available until February 17, 2023. Universal Logistics provides customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia, focusing on supply chain needs. Key metrics will be closely monitored as the company prepares for this earnings announcement.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) will participate in the Stephens Annual Investment Conference, featuring CEO Tim Phillips and CFO Jude Beres in a fireside chat. The event is scheduled for November 16, 2022, at 10:00 a.m. ET and will be broadcast live via webcast on the company's website. Universal provides customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia, offering diverse services such as truckload, brokerage, and intermodal solutions.
Universal Logistics Holdings, Inc. (ULH) reported record third quarter 2022 results with operating revenues of $505.7 million, a 13.5% increase year-over-year. Net income surged to $48.5 million or $1.84 per share, compared to $10.3 million in Q3 2021. Operating income rose to $69.8 million with a 13.8% margin. The company declared a quarterly dividend of $0.105 per share, payable January 3, 2023. Despite challenges in trucking and brokerage, strong performance in intermodal and contract logistics segments fueled growth. Cash and cash equivalents stood at $14.6 million.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) is set to release its third quarter 2022 financial results on October 27, 2022, after market close. A subsequent earnings conference call will take place on October 28, 2022, at 10:00 a.m. ET. Participants can join the call via toll-free number (877) 270-2148 or international dial-in +1 (412) 902-6510, using conference ID 10171516. Replay options are available until November 4, 2022. Universal Logistics provides a wide range of supply chain solutions across North America and Colombia.
Universal Logistics Holdings (NASDAQ: ULH) will participate in Cowen's 15th Annual Global Transportation & Sustainable Mobility Conference. CEO Tim Phillips and CFO Jude Beres are set to engage in a fireside chat on September 7, 2022, starting at 12:20 PM ET. The event will be broadcast live through a webcast available on Universal's official website, with a replay accessible afterward. Universal offers a range of logistics solutions across North America and operates subsidiaries providing comprehensive supply chain services.
Universal Logistics Holdings reported strong second quarter 2022 results, achieving record operating revenues of $527.2 million, a 24.7% year-over-year increase. Net income rose to $44.7 million or $1.69 per share, compared to $25.6 million in Q2 2021. The company declared a quarterly dividend of $0.105 per share, payable on October 3, 2022. Operating income improved to $64.7 million with a margin of 12.3%. Notable segments included contract logistics and intermodal, both showing significant revenue growth. However, the company remains cautious about macroeconomic pressures affecting the logistics sector.
Universal Logistics Holdings (NASDAQ: ULH) plans to release its second quarter 2022 financial results after market close on July 28, 2022. A conference call will be held on July 29, 2022, at 10:00 a.m. ET to discuss the results. Investors can participate via toll-free or international numbers provided in the release. The call will be available for replay until August 5, 2022. Universal specializes in customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) announced the completion of its modified Dutch auction tender offer, expiring June 15, 2022. The company accepted 164,189 shares, approximately 0.62% of its outstanding shares, at a purchase price of $28.00 per share. This totaled approximately $4.6 million, excluding fees. Post-tender offer, ULH will have about 26,277,549 shares outstanding. The company may consider future share repurchases, contingent upon various market factors.
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