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Universal Logistics Holdings’ third-quarter monetary outcomes were blended, as the firm saw year-over-year declines in its trucking, broker agent and intermodal sectors.
The Warren, Michigan-based firm reported running earnings boosted $5.8 million to $42.6 million, contrasted to $36.8 million in the third-quarter of 2023.
Universal (Nasdaq: ULH) additionally reported take-home pay of $26.5 million, or $1.01 per share in the third-quarter, a 14.7% year-over-year boost contrasted to 2023.
Universal Logistics supplies truckload, broker agent, intermodal and devoted solutions in the united state, Mexico, Canada and Colombia.
” While I am pleased with Universal’s general efficiency, the 3rd quarter had not been without its obstacles,” chief executive officer Tim Phillips stated in anews release “We remain to browse a deeply clinically depressed products atmosphere, and we additionally made the tough yet needed choice to shut our company-managed broker agent procedure. We continue to be dedicated to making audio service choices and performing on our technique to make sure Universal’s proceeded, lasting success.”
The firm’s broker agent profits decreased 25.4% throughout the quarter to $42.4 million.
Universal’s trucking sector profits lowered 10% to $87 million, contrasted to $97 million for the exact same duration in 2014.
Throughout the 3rd quarter, Universal relocated 36,909 lots contrasted to 43,996 lots throughout the exact same duration in 2014, a 16% decrease. Typical operating profits per lots, leaving out gas additional charges, boosted 9% year over year to $2,222.
The ordinary size of haul boosted 3.4% year over year to 395 miles in the quarter, while the ordinary variety of tractors lowered 14% year over year to 755.
Universal Logistics Holdings will certainly hold a teleconference to review outcomes with experts at 10 a.m. Friday.
Universal Logistics Holdings Q3/24 Q3/23 Y/Y % Modification Operating profits Operating earnings Trucking profits Intermodal profits Agreement logistics sector Company-managed broker agent profits Readjusted revenues per share
The message Universal Logistics Holdings Q3 earnings: First look showed up initially on FreightWaves.
