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In August, Universal Logistics closed its brokerage subsidiary Universal Capacity Solutions in Nashville, Tennessee, and laid off 125 employees.

Universal Logistics misses on Q3 EPS and revenue forecasts

Universal Logistics Holdings’ third-quarter financial results were mixed, as the company saw year-over-year decreases in its trucking, brokerage and intermodal segments.The Warren, Michigan-based company reported operating income increased $5.8 million to $42.6 million, compared to $36.8 million in the third-quarter of 2023. Universal (Nasdaq: ULH) also reported net income of $26.5 million, or $1.01 per share in the third-quarter, a 14.7% year-over-year increase compared to 2023.Universal Logistics provides truckload, brokerage, intermodal and dedicated services in the U.S., Mexico, Canada and Colombia.“While I am pleased with Universal’s overall performance, the third quarter wasn’t without its challenges,” CEO Tim Phillips said in a news release. “We continue to navigate a deeply depressed freight environment, and we also made the difficult but necessary decision to close our company-managed brokerage operation. We remain committed to making sound business decisions and executing on our strategy to ensure Universal’s continued, long-term success.”The company’s brokerage revenue declined 25.4% during the quarter to $42.4 million.Universal’s trucking segment revenue decreased 10% to $87 million, compared to $97 million for the same period last year. During the third quarter, Universal moved 36,909 loads compared to 43,996 loads during the same period last year, a 16% decline. Average operating revenue per load, excluding fuel surcharges, increased 9% year over year to $2,222.The average length of haul increased 3.4% year over year to 395 miles in the quarter, while the average number of tractors decreased 14% year over year to 755.Universal Logistics Holdings will hold a conference call to discuss results with analysts at 10 a.m. Friday.Universal Logistics HoldingsQ3/24Q3/23Y/Y % ChangeOperating revenue$426.8$421.21.3%Operating income$42.6$36.716%Trucking revenue$87$97(10.3%)Intermodal revenue$77.6$87.9(11.8%)Contract logistics segment$245.2$208.1(17.8%)Company-managed brokerage revenue$42.4$56.8(25.4%)Adjusted earnings per share$1.01$0.8814.7%Universal Logistics key performance operators. Revenue and operating income in millions

Universal Logistics Holdings Q3 Earnings: First Look

Universal Logistics Holdings Inc. has acquired Parsec LLC, Parsec Intermodal of Canada ULC, and OB Leasing LLC for $193.6 million.

Rail supplier news from Universal Logistics, Parsec, Keolis, AECOM, LongWater and Digi (Oct. 2)

Universal Logistics Holdings, Inc. (NASDAQ: ULH) has acquired Parsec, LLC, Parsec Intermodal of Canada ULC, and OB Leasing, LLC for $193.6 million. Parsec, a leading rail terminal operator with nearly 2,100 employees, reported $230.2 million in revenues for the trailing twelve months ending August 31, 2024. The acquisition will enhance Universal's contract logistics segment, boosting its revenues to over $1 billion annually. The transaction is expected to be immediately accretive.

Universal Logistics Acquires Parsec for $193.6M

Universal Logistics Holdings (NASDAQ: ULH) has acquired Parsec, a leading provider of terminal management services to railroads across North America.

Universal Logistics Holdings Acquires Parsec, a Market-Leading Rail Terminal Operator

Universal Logistics eliminating a shift in Detroit, laying off 92 workers.

Universal Logistics eliminating a shift in Detroit, laying off 92 workers

WARREN, Mich., Aug. 2, 2024 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) announces the integration of the 2025 Peterbilt 579EV into its fleet as a part of our ongoing sustainability initiatives. Universal Intermodal Services, Inc., a subsidiary of Universal Logistics Holdings, Inc., is poised to use these electric vehicles to reduce its carbon footprint throughout Southern California. Universal's 2025 Peterbilt 579EV. John Wroby, President of Universal Intermodal Services, Inc

Universal Logistics Holdings, Inc. Unveils Electric Vehicles Into Its Intermodal Fleet For Sustainable Logistics In Southern California

Universal Logistics Holdings, Inc. named a 2023 Supplier of the Year by General Motors.

Universal Logistics Holdings, Inc. Named a 2023 Supplier of the Year by General Motors

WARREN, Mich., April 19, 2024 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) was named a 2023 Supplier of the Year by General Motors ("GM"). GM celebrated honorees at its 32nd annual Supplier of the Year event in Miami, Florida last week.A global, cross-functional GM team rigorously selects Supplier of the Year award winners based on performance, innovation, cultural alignment with GM's values, and commitment to achieving GM's ambitious goals. This is the third time Universal has won this award."Being named Supplier of the Year by GM is a humbling validation of our relentless pursuit of customer satisfaction," said Tim Phillips, Universal's President and Chief Executive Officer. "I am immensely proud of our team's dedication to raising the bar in delivering exceptional value and service to our customers.""We're honored to partner with these top suppliers who have made notable contributions to our transformation. Together, we're pushing boundaries, pioneering new technologies and redefining what's possible," said Jeff Morrison, Vice President, Global Purchasing and Supply Chain

Universal Logistics Holdings, Inc. Named A 2023 Supplier Of The Year By General Motors

Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state.

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