Universal Logistics CEO touts company’s adaptability in ‘tough environment’

Universal Logistics Holdings’ truckload, brokerage and intermodal segments all declined during the second quarter, but CEO Tim Phillips said he was pleased with the “anticipated direction of our current operations.”  

On Thursday, Universal (NASDAQ: ULH) released its second-quarter financial results, reporting $258 million in revenues and earnings of 23 cents per share, which topped the consensus forecast of 17 cents per share.

“We entered the second quarter with substantial portions of business...

https://s29755.pcdn.co/news/universal-logistics-ceo-touts-companys-adaptability-in-tough-environment

Universal Logistics profits, revenue drop during second quarter

Universal Logistics Holdings Inc. (NASDAQ: ULH) reported net income of $6.2 million, compared to $20 million during second quarter 2019, a 69% decline, according to the company’s earnings report released on Thursday.

On a per-share basis, the Warren, Michigan-based company said it had net income of 23 cents per share, on total operating revenues of $258 million. This compares to 70 cents per share during the second quarter of 2019 on total operating revenues of $383.2 million.  

The asset-light...

https://www.freightwaves.com/news/universal-logistics-profits-revenue-drop-during-second-quarter

Dam failures cause record flooding in central Michigan

Aerial photo of major flooding in Midland, Michigan on May 20, 2020.

About 10,000 people in central Michigan have been asked to evacuate their homes after at least two dams had been breached or broken, causing a major flooding emergency.

This footage appears to show the moment the Edenville dam collapsed in #Midland County, #Michigan. Residents in #Sanford and #Edenville have been urged to evacuate immediately#Floods #MidlandFlood #DowChemical #News 📽 via WNEM TV 5 pic.twitter.com/h1b8pXB2Kc

— Gabriel Schray (@schrayguy) May 20, 2020

For the second time in...

https://s29755.pcdn.co/news/dam-failures-cause-record-flooding-in-central-michigan

Boat owner arrested for illegal charter operations in Chicago

A Michigan man has been arrested on federal criminal charges for allegedly conducting illegal charter boat operations on Chicago waterways.

Christopher Mike Garbowski used a 40′ powerboat to conduct illegal commercial charter operations on Chicago waterways, including Lake Michigan and the Chicago River, according to a criminal complaint and affidavit filed in U.S. District Court in Chicago. The boat went by various names, including Anchorman, Sea Hawk, and Manaje III.

Garbowski charged money to...

https://www.workboat.com/news/passenger-vessels/boat-owner-arrested-for-illegal-charter-operations-chicago/