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Universal Logistics Holdings reported a 19% year-over-year increase in operating revenue to $465.1 million in the fourth quarter.The company’s adjusted earnings per share decreased 4.9% year over year to 77 cents during the quarter.Universal Logistics beat Wall Street analysts’ revenue estimates of $435.7 million in the fourth quarter but missed on EPS expectations of 92 cents per share.Company officials touted results in its contract logistics segment and demand for heavy-haul services during the quarter.“Our contract logistics segment continues to be the cornerstone of our success,” CEO Tim Phillips said in a news release. “Strong demand for our specialized, heavy-haul services has also enabled our trucking segment to produce solid results during the quarter, and throughout all of 2024.”Universal Logistics (Nasdaq: ULH) is a Warren, Michigan-based truckload transportation, intermodal and logistics provider. The company provides services across the U.S, Mexico, Canada and Colombia and has more than 10,000 employees.Revenue in the contract logistics segment increased 52.7% year over year to $307.4 million.At the end of the fourth quarter, the intermodal segment managed 90 value-added programs, including 20 new rail terminal operations, compared to a total of 71 programs in the fourth quarter of 2023.In the trucking segment, fourth-quarter revenue increased 11.5% year over year to $83.8 million.The number of loads in the company’s trucking segment declined 17% year over year to 36,068 in the fourth quarter.Average operating revenue per load in the trucking segment increased 30% year over year to $2,183. The average number of tractors in the quarter decreased 15.5% year over year to 699.Revenue in the intermodal segment decreased 15.9% year over year to $73.1 million in the fourth quarter. Load volumes in the segment declined 15.3% year over year to 100,457.Average operating revenue per load in the intermodal segment, excluding fuel surcharges, declined 2.2% year over year to $537.Universal Logistics announced a cash dividend of 10.5 cents per share of common stock. The dividend is payable to shareholders of record by April 1.The company will hold a conference call to discuss results with analysts at 10 a.m

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

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