Universal Logistics Holdings

Universal Logistics sees potential back-half uptick in freight volumes

Universal Logistics Holdings Inc. surpassed Wall Street expectations in the fourth quarter, despite revenue decreases across the firm’s trucking, intermodal and brokerage segments.

“The outlook for 2024 remains a bit murky with a variety of signals from various market verticals,” Tim Phillips, CEO of Universal Logistics Holdings, said in a call with analysts on Friday. “We’re not ready to predict a rise in volume from the current environment. We can explore potential pathways through the lens of...

https://www.freightwaves.com/news/universal-logistics-sees-potential-back-half-uptick-in-freight-volumes

Universal Logistics announces $50M truck division expansion in Virginia

Universal Logistics Holdings Inc. announced a 254,000-square-foot expansion in Roanoke, Virginia, to support its Class 8 truck parts subassembly division.

The $50 million expansion to the company’s Lee Highway building will create 45 direct jobs and “will be instrumental in catering to the growing demands of the heavy truck industry,” said Universal CEO Tim Phillips.

“Our expansion in the Roanoke region represents an exciting phase for Universal’s heavy truck division as we fortify our commitment...

https://www.freightwaves.com/news/universal-logistics-announces-50m-truck-division-expansion-in-virginia

Universal Logistics’ Q3 earnings decline in ‘sluggish freight market’

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Universal Logistics Holdings CEO Tim Phillips described the company’s third-quarter earnings...

https://www.freightwaves.com/news/universal-logistics-q3-earnings-decline-in-sluggish-freight-market

Universal Logistics reports weaker Q2 results amid market ‘headwinds’ 

Universal Logistics Holdings posted second-quarter revenue decreases in its trucking, brokerage and intermodal segments due to declines in freight volumes and rates, company officials said.

Operating revenue in Universal Logistics’ trucking division decreased 24% year over year (y/y) to $81.2 million, compared to $106.5 million for the same period last year. 

Total revenue in the quarter was $412.5 million, a 22% y/y decline, and missed Wall Street estimates of $448 million.

“On the transportation...

https://www.freightwaves.com/news/universal-logistics-reports-weaker-q2-freight-results

S&P upgrades flatbed operator Daseke’s debt rating after Moody’s holds the line

Several months after Daseke expressed disappointment that one of the leading debt ratings agencies didn’t increase its rating, the flatbed operator got its wish when another one did.

When Moody’s conducted a review of Daseke (NASDAQ: DSKE) earlier this year, it came out with a report that said the outlook on the company’s debt was “stable,” which means conditions were not in place to suggest an upgrade or downgrade. Daseke officials at the time were not happy, noting that its flatbed rates were...

https://www.freightwaves.com/news/sp-upgrades-flatbed-operator-dasekes-debt-rating-after-moodys-holds-the-line

Universal defends AB5-related deal, notes higher costs but touts that the deal is done

With the ink still drying on its recent AB5-related deal with the Teamsters union in Southern California, the CEO and CFO of Universal Logistics used the occasion of the Cowen & Co. Global Transportation & Sustainable Mobility Conference on Wednesday to tout the benefits.

One of the key arguments: Universal has gotten out in front of the rest of the industry in solving both an ongoing dispute with the Teamsters and the question of compliance with AB5.

“We feel we de-risked ourselves,” Jude Beres,...

https://www.freightwaves.com/news/universal-defends-ab5-related-deal-notes-higher-costs-but-touts-that-the-deal-is-done

Universal defiende el acuerdo relacionado con el AB5, señala que los costos son más elevados, pero destaca el hecho de que está hecho 

Con la tinta todavía seca en su reciente acuerdo relacionado con el AB5 con el sindicato de los Teamsters en el sur de California, el CEO y el CFO de Universal Logistics aprovecharon la ocasión de la Cowen & Co. Global Transportation & Sustainable Mobility Conference, para destacar sus beneficios.

Uno de los argumentos clave: Universal se ha adelantado al resto del sector en la resolución tanto de una disputa en curso con los Teamsters como de la cuestión del cumplimiento de la AB5. 

“Creemos que...

https://www.freightwaves.com/news/universal-defiende-el-acuerdo-relacionado-con-el-ab5-senala-que-los-costos-son-mas-elevados-pero-destaca-el-hecho-de-que-esta-hecho

Universal Logistics beats in Q1, ups expectations for 2022

A black tractor pulling a white Universal trailer

Multimodal transportation and logistics provider Universal Logistics Holdings reported record quarterly results during the first quarter of 2022. The company lifted its full-year 2022 outlook and issued second-quarter guidance ahead of the consensus estimate.

Universal (NASDAQ: ULH) reported earnings per share of $1.56 after the market closed Thursday. The number was nearly double the year-ago result and outpaced its implied guidance in the high-80-cent range.

“Our efforts evaluating operating...

https://www.freightwaves.com/news/universal-logistics-earnings-q1-2022

Universal Logistics sees bridge blockade as ‘blip’ to strong 2022

Stock pops 7% on better-than-expected guide

Universal Logistics Holdings “had its share of challenges” during 2021. Port and supply chain congestion and a tough labor market weighed on production at the auto and truck OEMs, the Michigan-based asset-light transportation provider’s primary customer base.

“Yet, despite these challenges, Universal’s business model continued to deliver impressive results,” CEO Tim Phillips stated in a press release. The company reported record full-year revenue in 2021, up 26% year-over-year to $1.75 billion,...

https://www.freightwaves.com/news/universal-logistics-sees-bridge-blockade-as-blip-to-strong-2022

Universal Logistics seeks expense relief from customers

Wages and accessorial charges at the ports are items of concern for Universal

Launch costs associated with a new business win at an auto manufacturer’s facility pulled down Universal Logistics Holdings’ third-quarter results.

The Warren, Michigan-based asset-light transportation and logistics provider recorded a $7.1 million loss on the new piece of business in the period, which in part pushed earnings per share 24% lower year-over-year to 38 cents, well short of the 64-cent-consensus estimate.

In total, $12.9 million in startup and litigation costs weighed on Universal’s (

https://www.freightwaves.com/news/universal-logistics-seeks-expense-relief-from-customers

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