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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.
On June 16, 2022, Universal Logistics Holdings, Inc. (NASDAQ: ULH) reported preliminary results of its modified Dutch auction tender offer, which concluded on June 15, 2022. Approximately 164,189 shares were tendered at a price of $28.00 each, totaling about $4.6 million. This represents 0.62% of the company’s outstanding shares as of May 12, 2022. The final results will be confirmed by Computershare by June 21, 2022. Future share purchases may occur depending on market conditions and business performance, but no additional repurchases can happen before June 30, 2022.
Universal Logistics Holdings (NASDAQ: ULH) has initiated a modified "Dutch auction" tender offer to repurchase up to 100,000 shares, approximately 0.4% of its common stock. The buyback price ranges from $25.00 to $28.00 per share. Funding will come from the company's cash reserves and existing line of credit. The offer expires on June 15, 2022. This decision reflects the company’s strong cash position and commitment to enhancing shareholder value through strategic buybacks.
Universal Logistics Holdings reported record first-quarter 2022 results, with net income of $42 million, or $1.56 per share, a 95% year-over-year increase. Operating revenues rose to $523.9 million, up 26.2%, and operating income reached $57.8 million, an 85.7% increase, resulting in an operating margin of 11.0%. The company declared a quarterly dividend of $0.105 per share, payable on July 5, 2022. Despite industry challenges, CEO Tim Phillips expressed confidence in achieving $2 billion in revenue for 2022. Share repurchases totaled 257,261 shares at an average price of $20.42.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) will release its first-quarter 2022 financial results after market closure on May 5, 2022. The earnings call is set for May 6, 2022, at 10:00 a.m. ET. This call will allow investors to gain insights into the company's financial performance and management strategies.
The company specializes in customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia, aiming to offer scalable supply chain solutions.
Universal Logistics Holdings (NASDAQ: ULH) reported a fourth-quarter 2021 net income of $16.2 million, or $0.60 per share, on record quarterly revenues of $467.4 million, marking a 21% year-over-year increase. Despite these achievements, operating results were impacted by $11.0 million in charges related to auto liability claims and contract logistics losses. For the full year 2021, net income was $2.74 per share, and total revenues reached $1.75 billion, both representing historical highs for the company. A cash dividend of $0.105 per share was also declared, payable on April 4, 2022.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) announced the release of its fourth quarter 2021 financial results, scheduled for after-market close on February 10, 2022. A quarterly earnings conference call will take place on February 11, 2022, at 10:00 a.m. ET. The company specializes in customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia. The press release includes forward-looking statements regarding future performance, with no specific financial metrics disclosed.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) reported third quarter 2021 net income of $10.3 million, or $0.38 per share, on revenues of $445.6 million. This marks a revenue increase from $365.0 million in Q3 2020. However, net income declined from $13.6 million year-over-year. Operating income dropped to $16.7 million, impacted by $12.9 million in litigation and program launch losses. Despite challenges from supply chain disruptions, the company remains optimistic about future demand and operational improvements. A cash dividend of $0.105 per share was also declared.
Universal Logistics Holdings, Inc. (NASDAQ: ULH) plans to release its third quarter 2021 financial results after market close on October 28, 2021. A quarterly earnings conference call is scheduled for October 29, 2021 at 10:00 a.m. ET. Universal Logistics is known for its asset-light transportation and logistics solutions, serving clients across the United States, Mexico, Canada, and Colombia. The company provides a diverse range of supply chain services, including truckload, brokerage, and intermodal solutions.
Universal Logistics Holdings (NASDAQ: ULH) announced participation in Cowen's 14th Annual Global Transportation & Sustainable Mobility Conference. CEO Tim Phillips and CFO Jude Beres will engage in a fireside chat on September 10, 2021, starting at 8:00 AM ET. The event will be live-streamed via Universal's website, with a replay available afterward. Universal is a leading asset-light provider of customized transportation and logistics solutions across the U.S., Mexico, Canada, and Colombia.
Universal Logistics Holdings (NASDAQ: ULH) reported a robust second quarter for 2021, achieving net income of $25.6 million or $0.95 per share, up from $6.2 million or $0.23 per share in Q2 2020. Total operating revenues hit a record $422.8 million, a significant increase from $258.0 million last year. Operating income rose to $31.3 million with a margin of 7.4%. The company declared a cash dividend of $0.105 per share and authorized a new stock repurchase program for up to 621,622 shares. Despite challenges like the chip shortage, management remains optimistic.
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