The Teamsters are calling it a strike, but an action at a Universal Logistics (NASDAQ: ULH) facility in Compton, California, Monday is more of a protest by workers who want their job back.
Though the protest was small, it’s another battle in the ongoing California labor wars, where the intersection of Teamster efforts to unionize and issues of driver classification all come together. Looming in the background at all times are California’s regulations dealing with the issue of worker...
Universal Logistics Holdings Inc. (NASDAQ: ULH) reported financial results for the fourth quarter that mainly beat Wall Street expectations, helped by the recovery of the North American automotive industry, said CEO Tim Phillips.
The company earned $16.2 million on revenues of $386 million during the fourth quarter of 2020. The revenue numbers beat most analysts’ expectations by more than 8% and compare to year-ago revenues of $375.9 million.
“As we exit the year on a high note, we have a...
https://www.freightwaves.com/news/universal-logistics-holdings-ceo-bullish-on-successful-2021
Universal Logistics Holdings Inc. (NASDAQ: ULH) reported fourth-quarter 2020 net income of $16.2 million, compared to $8.7 million during fourth-quarter 2019, an 86% increase, 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 60 cents per share, on total operating revenues of $386 million. This compares to 32 cents per share during the fourth quarter of 2019 on operating revenue of $375.9 million.
T...
https://www.freightwaves.com/news/universal-logistics-profits-revenue-rise-during-fourth-quarter
Universal Logistics Holdings (NASDAQ: ULH) released its third-quarter financial results Thursday afternoon, reporting revenue of $365 million and earnings per share of 50 cents.
The quarterly results were in line with Wall Street expectations, with most analysts predicting earnings of 50 cents per share and revenue of $327 million.
“The rapid recovery of North American automotive production was a primary driver behind Universal’s solid performance in the third quarter 2020,” Tim Phillips, CEO of...
https://s29755.pcdn.co/news/universal-logistics-reports-q3-revenue
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, prosecutors are recommending jail for former Uber executive Anthony Levandowski. Plus, Amazon had a strong second quarter as e-commerce boomed, and Forward Air is pushing ahead with plans to expand its less-than-truckload business.
Finding a new homeFederal prosecutors have recommended Anthony Levandowski, the former head of Uber’s self-driving division, serve 27 months in prison. Levandowski...
https://s29755.pcdn.co/news/the-daily-dash-levandowski-amazon-and-earnings
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 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
The man who led the family that controls P.A.M. Transportation and 3PL Universal Logistics has died.
Manuel Moroun was 93, according to Detroit-area press reports of his death Sunday. The news stories about him focused on his ownership of the Canada-to-Detroit Ambassador Bridge and his fight to stop an alternative route, the Gordie Howe Bridge, which is now under construction. Moroun’s ownership of the Ambassador Bridge is an anomaly in the U.S. road system; he gained full ownership of the...
https://s29755.pcdn.co/news/moroun-whose-company-controlled-p-a-m-and-universal-dead-at-93
Universal Logistics Holdings (NASDAQ:ULH) offered a glimpse of how COVID-19 is playing out at the beginning of the second quarter – a 30% drop in revenue in April. The worst of it was due to shutdowns in auto and heavy truck plants, where dedicated freight volumes fell to zero.
“We had to make some difficult decisions,” CEO Tim Phillips told analysts on Friday, May 1, after the Michigan-based transportation and logistics firm reported first-quarter financial results.
Phillips said Universal...
Universal Logistics Holdings (NASDAQ:ULH) reported on Thursday that its profits fell by almost 30% during the first quarter as COVID-19-related slowdowns in manufacturing and retail hit its truckload and dedicated operations.
Universal Logistics had a net income of $12.2 million, or 45 cents per share, on $382.2 million in revenues during the quarter. Net income came in 29.4% lower than a year earlier, while revenues increased by 1.2%.
CEO Tim Phillips characterized the results as “pretty solid”...