Universal Logistics Holdings

Universal Logistics profits, revenue rise during fourth quarter

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 reports better-than-expected Q3 revenue

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: Levandowski, Amazon and earnings

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 home

Federal 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 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

Moroun, whose company controlled P.A.M. and Universal, dead at 93

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 reports brutal April as CEO looks toward recovery

A Universal Logistics tractor-trailer.

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...

https://www.freightwaves.com/news/universal-logistics-reports-brutal-april-as-ceo-looks-toward-recovery

Universal Logistics’ profits plunge nearly 30% as COVID-19 hits truckload

A tractor-trailer of Universal Logistics Holdings

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”...

https://www.freightwaves.com/news/universal-logistics-profits-plunge-nearly-30-as-covid-19-hits-truckload

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